Economy and commerce
Government launches new digital plan for its economic development
Cambodia has launched its new 14-year plan on digital policy, saying the sector is a new model of economic growth, which can respond and keep pace with rapid changes in the economy as it recovers from the financial dip caused by the Coronavirus pandemic. ...
Michael Firn
https://www.khmertimeskh.com/50877963/government-launches-new-digital-plan-for-its-economic-development/
Cambodia’s digital economic and society policy for 2021-2035 launched
The Kingdom has officially announced the implementation of its “Digital Economy and Social Policy Framework of Cambodia 2021-2035” policy. It identifies the digital sector as a new model of economic growth responsive and resilient to changes in economic structure, development and international trade. ...
Chea Vanyuth
https://www.khmertimeskh.com/50877443/cambodias-digital-economic-and-society-policy-for-2021-2035-launched/
Remittances fall 17% to $1.2B in 2020: NBC data
Cambodia received $1.2 billion in remittances from migrant workers abroad last year, marking a sharp 17 per cent drop from $1.5 billion in 2019, the National Bank of Cambodia reported. ...
May Kunmakara
https://www.phnompenhpost.com/business/remittances-fall-17-12b-2020-nbc-data
Trade with Vietnam jumps 22% in Q1 to record $3.9B
Cambodia-Vietnam trade sharply increased by 22 per cent in the first quarter of 2021 on a yearly basis, reaching a record high of $3.892 billion, despite tightened border controls over fears of spreading the Covid-19 pandemic, according to the Vietnamese embassy in Phnom Penh. ...
May Kunmakara
https://www.phnompenhpost.com/business/trade-vietnam-jumps-22-q1-record-39b
Almost 80,000 tourists registered in first weekend of June
A total of 76,698 domestic visitors toured the country, especially ecotourism areas, during first weekend of this month, according to Thong Khon, Cambodian Minister of Tourism. ...
Khmer Times Staff
https://www.khmertimeskh.com/50869919/almost-80000-tourists-registered-in-first-weekend-of-june/
Kingdom’s oil dreams live on even after driller files for liquidation
KrisEnergy Ltd, the operator of the Apsara oil field development offshore Cambodia, has confirmed that all operations of its subsidiary in Cambodia, KrisEnergy (Cambodia) Ltd, will continue as normal, despite its parent company filing for liquidation on June 4, according to a senior official of ...
May Kunmakara
https://www.phnompenhpost.com/business/kingdoms-oil-dreams-live-even-after-driller-files-liquidation
Gov’t Covid stimulus and relief spending tops $335Mn
With Cambodia’s relief measures up for renewal later this month, it has come to light that the Government’s Covid-related assistance spending topped $335 million since the introduction of payments to the financially vulnerable last June. ...
Husain Haider
https://www.khmertimeskh.com/50867851/govt-covid-stimulus-and-relief-spending-tops-335mn/
Pepper exports increase 200% in first five months
Some 7,461 tonnes of Cambodian pepper were exported to foreign markets from January to May 2021, according to Veng Sakhon, Minister of Agriculture, Forestry, and Fisheries. ...
Khmer Times Staff
https://www.khmertimeskh.com/50867270/pepper-exports-increase-200-in-first-five-months/
FDI inflows drop 1% to $3.5B
The value of foreign direct investment (FDI) into the Kingdom registered a slight fall in 2020 amid a much sharper contraction among non-banking sectors and uncertainty over the evolution of the Covid-19 pandemic, but inflows into the financial sector remained strong. ...
May Kunmakara
https://www.phnompenhpost.com/business/fdi-inflows-drop-1-35b
CCC, Japan to organise more trade meets
The Cambodia Chamber of Commerce (CCC) has renewed its support for the Japan External Trade Organisation (Jetro) in organising trade meetings between Cambodian and Japanese businesses to promote better trade cooperation between the two countries. ...
Thou Vireak
https://www.phnompenhpost.com/business/ccc-japan-organise-more-trade-meets
Investment in construction crumbles under pandemic
The global health crisis caused by the Covid-19 outbreak has dragged down investment in the Cambodian construction sector, which had shown positive signs for several years in a row. ...
Hin Pisei
https://www.phnompenhpost.com/post-property/investment-construction-crumbles-under-pandemic
Cambodian economy can grow by four percent this year
The Asian Development Bank (ADB) has projected that the Cambodian economy will grow by 4 percent this year and 5.5 percent next year, led by a robust recovery of its major trade partners. ...
Khmer Times Staff
https://www.khmertimeskh.com/50864730/cambodian-economy-can-grow-by-four-percent-this-year/
Two new investment projects approved by CDC
The Council for the Development of Cambodia (CDC) has issued investment certificates to Fu Bi Xing (Cambodia) Packaging Co., Ltd and Sheng He Leisure Bag (Cambodia) Co., Ltd for the production of travel bags and goods in the Kingdom. ...
Gareth Johnson
https://www.khmertimeskh.com/50864368/two-new-investment-projects-approved-by-cdc/
Cambodia trade with China hits $3 billion
Bilateral trade between Cambodia and China increased by 19.7 percent to $3 billion during the first four months of this year, according to the Ministry of Commerce. ...
Husain Haider
https://www.khmertimeskh.com/50863783/cambodia-trade-with-china-hits-3-billion/
Cambodia’s Thailand exports fall 41 percent in first four months
Cambodian exports to neighbouring Thailand were valued at $402 million in the first four months of this year, a 41 percent decrease compared with the same period last year. ...
Chea Vanyuth
https://www.khmertimeskh.com/50863906/cambodias-thailand-exports-fall-41-percent-in-first-four-months/
Draft Law on SMEs finished, en route to industry minister
The Ministry of Industry, Science, Technology and Innovation plans to submit a Draft Law on Small and Medium Enterprises to the Ministry of Economy and Finance soon for further review and input, after a technical working group completed the document. ...
Thou Vireak
https://www.phnompenhpost.com/business/draft-law-smes-finished-en-route-industry-minister
Exports of crude palm oil up 36% in Jan-May
Cambodia exported 19,916 tonnes of crude palm oil in the first five months of 2021, an increase of 5,246 tonnes or 35.76 per cent compared to the same period last year, according to data from the Ministry of Agriculture, Forestry and Fisheries. ...
Thou Vireak
https://www.phnompenhpost.com/business/exports-crude-palm-oil-36-jan-may
4.1 million tonnes of agricultural products exported in first five months
Cambodia exported some 4.1 million tons of agricultural products in the first five months of this year, a 1.1 million increase over the same period last year. ...
Khmer Times Staff
https://www.khmertimeskh.com/50862233/4-1-million-tonnes-of-agricultural-products-exported-in-first-five-months/
Cambodia-Japan trade sees 6.6 percent increase in Q12021
Bilateral trade in Q1 2021 between Cambodia and Japan grew by 6.6 percent compared with the same period in 2020, rising to $632 million. ...
Chea Vanyuth
https://www.khmertimeskh.com/50861827/cambodia-japan-trade-sees-6-6-percent-increase-in-q12021/
‘New normal’ recovery map afoot
Cambodia is designing policy for 2021-2023 to chart a path for sustainable and inclusive economic recovery from the Covid-19 crisis, with an approach that ensures peace, security, social stability and public order on the path to the “new normal”, enhances competitiveness and promotes economic diversification ...
Hin Pisei
https://www.phnompenhpost.com/business/new-normal-recovery-map-afoot
Cambodia “Preparing To Welcome Back Foreign Tourists In Q4”
A new video released by the Ministry of Tourism seems to indicate that Cambodia is preparing to welcome back tourists in the 4th quarter of 2021, in a move designed to “revive Cambodia’s tourism industry hit hard by the global COVID-18 crisis” ...
Khmer Times Staff
https://www.khmertimeskh.com/50860697/cambodia-preparing-to-welcome-back-foreign-tourists-in-q4/
Kampot pepper exports remain strong amid pandemic
Kampot pepper exports have weathered the economic storm created by COVID-19 and continue to remain a strong export product for the Kingdom, according to President of the Kampot Pepper Promotion Association (KPPA) Nguon Lay. ...
Brian Badzmierowski
https://www.khmertimeskh.com/50860038/kampot-pepper-exports-remain-strong-amid-pandemic/
Cambodia, Australia pledge to boost bilateral trade
Cambodia and Australia have reaffirmed their commitment to increase their two-way trade, advance their cooperation in the trade sector and other areas, especially their close relations ...
Khmer Times Staff
https://www.khmertimeskh.com/50859498/cambodia-australia-pledge-to-boost-bilateral-trade/
New waves of pandemic leave regional tourism at a loss
As Cambodia and other Asean nations are facing challenges brought on by new waves of the pandemic, hopes of foreign tourists returning to the region may not materialise, local tourism entrepreneurs have said. ...
Sar Socheath
https://www.khmertimeskh.com/50858708/new-waves-of-pandemic-leave-regional-tourism-at-a-loss/