Economy and commerce

The National Bank of Cambodia (NBC) on Monday launched the ‘Bakong Tourists App’ helping foreign tourists in Cambodia to make payments using the country’s universal KHQR code at over 3.3 million retail merchant outlets. ...

The Ministry of Economy and Finance (MEF) has issued guidelines and procedures for implementing the sub-decree aimed at encouraging individuals and businesses operating in the informal economy to comply with tax obligations. ...

Cambodia has become the world’s second-largest producer of raw cashew nuts, with a total production of 830,000 tonnes in the last seven months of 2024, according to the report of the Cashew Nut Association of Cambodia (CAC). ...

The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) have introduced new regulations to enhance responsible business practices and bolster consumer protection in the country’s banking and financial sectors. Announced on Friday, the new rules are designed to promote a sustainable ...

The Coordinating Committee for Developing the Informal Economy convened a meeting to assess progress and discuss plans to launch a digital platform for registering the informal economy. ...

Cambodia launched a payment system on Monday to enable tourists to pay at 3.3 million retail shops across Cambodia. ...

Public-listed Phnom Penh Autonomous Port (PPAP) netted a revenue of $18.32 million in the first half of 2024, a rise of 11.7 percent, compared to the same period last year, according to the latest report it filed with the Cambodia Securities Exchange (CSX). ...

Cambodia’s insurance sector continued to expand, but at a slower pace, with total premium reaching $87.6 million in the April-June period of this year. ...

In the one year of his rule, Prime Minister Hun Manet laid out policies for strengthening old friendships, launched new friendships and consolidated Cambodia’s position on the international stage, especially by streamlining its economic diplomacy. ...

Cambodia’s trade relations with Vietnam have seen significant growth in the first seven months of this year, with the total trade volume between the two neighbouring countries reaching over $4.6 billion. ...

Foreign direct investment (FDI) from the Republic of Korea ranks second in the Kingdom, where over 40 percent of its total capital went into banking and financial sectors, said Park Jung-Wook, Korean Ambassador to Cambodia. ...

China’s Jiangsu province and Shantou city in Guangdong are seeking to enhance cooperation with Cambodia to boost investment and trade between the two nations. ...

The Ministry of Justice issued a stern warning that efforts to incite opposition to the Cambodia-Laos-Vietnam Development Triangle Area (CLV-DTA) cooperation are part of a broader scheme to instigate a colour revolution aimed at overthrowing the government. ...

Cambodia and South Korea are committed to expand bilateral cooperation on defence, tourism, people-to-people exchanges and education. ...

The Ambassador of the Republic of Korea to Cambodia Tuesday commended the Cambodian government for its proactive measures to enhance the investment climate in the country, stressing that more Korean investors are keen to explore opportunities in the Kingdom. ...

China has reiterated its strong commitment to supporting Cambodia in pursuing a development path tailored to its national conditions, with the goal of becoming an upper middle-income economy by 2030 and a high-income country by 2050. ...

Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC) Monday called on relevant ministries to examine the possibility of optimising the Investment Project Application (IPA) by reconciling data with the CDC’s new system to improve convenience in ...

Singapore Airlines (SIA) announced plans to significantly increase the number of flights to several key destinations, including Siem Reap province, in response to rising demand for air travel. ...

Cambodia has called for ASEAN to establish a regional education and skills development framework tailored for the future labour force, with a particular focus on expanding access to technical and vocational education and training (TVET). ...

Cambodia exported a total of 379,546 tonnes of milled rice in the first seven months of 2024, earning a revenue of $280 million, the Cambodia Rice Federation said in a news release on Monday. ...

Cambodia’s foreign trade volume hit $31.18 billion in the first seven months of 2024, up 15% from $27.1 billion over the same period last year, according to an official report released on Saturday. ...

One of Cambodia’s leading data centre services providers inked a key partnership deal with a Singapore company to empower the Kingdom’s digital economy. Daun Penh Data Center (DPDC) and A2000 signed an MoU in the presence of Choup Somart, Secretary of State, Ministry of Rural ...

Credit cards in Cambodia have grown 20 percent in 2023, showing that customers have become more savvy in using new financial instruments. ...

Cambodia’s aviation sector is experiencing a significant uptick in the first half of 2024 with the country’s three international airports handling a combined 3.03 million air passengers from January to June, up 22 percent from 2.48 million recorded in the same period last year. ...