Economy and commerce

Construction of the $70 million two-phased Arakawa Residence affordable housing development in western Phnom Penh remains on track to be completed by mid-2022, developer Arakawa Co Ltd co-founder Ieng Sotheara told The Post on October 20. ...

The Cambodia-South Korea Free Trade Agreement (CKFTA) is set to be signed on October 26, ushering in a new chapter that will open up fresh avenues in trade and investment between the two Asian nations, according to a senior Ministry of Commerce official. ...

Cambodia has set a minimum capital requirement for new and existing casinos. ...

The Kingdom of Cambodia and the Republic of Korea will sign a draft free trade agreement (FTA) next week, as the two countries witness their bilateral trade amount on the rise. ...

Cambodia’s exports to Vietnam nearly quadrupled to $3.7 billion in the first nine months of this year, according to statistics from the General Department of Vietnam Customs. ...

In the first nine months of 2021, Cambodia exported 343,812 tons of fresh bananas, an increase of 46 percent compared to 2020. ...

U.S.-ASEAN Business Council (U.S.-ABC) is interested to invest in Cambodia in the fields of energy, industry, health, technology, finance and import-export. ...

The Asian Development Bank (ADB) has approved a $40 million loan to help Cambodia’s micro, small, and medium-sized enterprises (MSMEs) get easier access to credit. The money will also support government efforts to bring in reforms to boost financial stability and upgrade the financial sector ...

The Ministry of Industry, Science, Technology and Innovation approved a total of 124 new industrial investment projects between January and September this year, bringing a total active investment factory to 1,843. ...

The General Department of Taxation (GDT) collected some 8,549 billion Riel (approximately $2,111 million) as tax revenue in the first nine months of this year, representing 94.12 percent of the yearly plan. ...

The governor of the National Bank of Cambodia has called on the International Monetary Fund (IMF) to continue supporting ASEAN economies, especially as they recover from the Coronavirus pandemic. ...

Minister of the council of Ministers Bin Chhin has requested that Australia provide funding to the national side of the Extraordinary Chambers in the Court of Cambodia (ECCC). ...

Cambodia exported 5.93 million tonnes of agricultural products to 90 countries and territories in the first nine months of this year, the Ministry of Agriculture, Forestry and Fisheries reported on October 14. ...

The US remained the biggest market for Cambodia’s export products in 2021 despite the Covid-19 pandemic. Cambodia’s eight-month exports to the US increased sharply although some products were made without the Generalised System of Preference (GSP), which means tariffs would have been paid. ...

The Council for the Development of Cambodia (CDC) approved a total of 134 investment projects with a cumulative investment value of $3.3 billion in the January-September period. ...

International Monetary Fund (IMF) resident representative for Cambodia Yasuhisa Ojima is optimistic that Cambodia’s economy will see a quick recovery that reflects the “proactive measures” taken by the government to blunt the socio-economic impacts of Covid-19. ...

The results of a crucial ongoing study will enable Cambodia to set out a framework of strategies to enhance the efficiency of the trade facilitation environment and the Kingdom’s competitiveness on the international stage, according to General Department of Customs and Excise (GDCE) director-general Kun ...

Two locally-listed firms on October 8 reported recoveries in business performance this year thanks to improvements across regional and global economies as they emerge from the Covid-19 health crisis. ...

Minister of Foreign Affairs and International Cooperation Prak Sokhonn and Japanese ambassador to Cambodia Masahiro Mikami signed an “exchange of notes” and other documents related to the provision of Japanese grant aid and loans worth approximately $72 million to implement six projects. ...

Seventy-five private investment projects outside of special economic zones (SEZ) were approved by the Council for the Development of Cambodia (CDC) in the first eight months of 2021, down by nearly 30 per cent year-on-year, the Ministry of Economy and Finance reported. ...

Bilateral trade between Cambodia and the US in the first eight months of 2021 totalled $5.4994 billion, surging by 28.47 per cent versus $4.2805 billion in the same period of last year, according to the US Census Bureau (USCB). ...

The local Sathapana Bank Plc has received $10 million from OP Finnfund Global Impact Fund I, the first global emerging markets impact fund in Finland, allowing the bank to expand its loan portfolio to small- and medium-sized enterprises (SME), and especially female entrepreneurs. ...

The World Health Organization (WHO) representative in Cambodia said that Cambodia’s high vaccination coverage provides a good basis for reopening the economy and society safely and responsibly. ...

E-commerce and the ongoing digital transformation have been boosting the productivity and competitiveness of small and micro-, small- and medium-sized enterprises (MSME) in Cambodia, Minister of Commerce Pan Sorasak said last week. ...