Economy and commerce

The private sector welcomed the Ministry of Posts and Telecommunications newest warning to unlicensed or otherwise non-legally-compliant telecoms operators as a necessary building block for sustainable growth in the industry. ...

A global shortage of containers and rising shipping rates during the Covid-19 outbreak has driven up production costs for the Kingdom’s mangoes and eroded their competitiveness on the international market, according to two leading producers-cum-exporters. ...

Trade between the Kingdom and Vietnam was worth $3.020 billion in 2020, inching down 1.1 per cent from $3.054 the previous year, according to Ministry of Commerce statistics. ...

Financial institutions that are members of the Cambodia Microfinance Association (CMA) restructured some $1.397 billion in loans for 289,422 borrowers as of February 28 since the National Bank of Cambodia (NBC) on March 27 issued a circular on loan restructuring during Covid-19, according to CMA. ...

Two Bangkok-based business councils have demonstrated their commitment to join forces and ensure frictionless cross-border trade between Cambodia and Thailand amid tightened border controls imposed in the harsh times of the Covid-19 pandemic. ...

Cambodia exported a total of 1,599,922.37 tonnes of major non-milled-rice agricultural products in the first two months of this year, an increase of 569,493.88 tonnes or 55.27 per cent compared to the same period in 2020, according to Minister of Agriculture, Forestry and Fisheries Veng ...

The battle for the hearts (and ears) of Cambodian audiophiles is heating up. During its inaugural week in the Cambodian market, music streaming app Spotify has already rocketed to the top of the nation’s download charts. ...

Data from the Ministry of Commerce showed Cambodia exported $1.086 billion of goods to China, a year-on-year increase of 8.1 percent.  Cambodia’s 2020 imports from China were valued at $7.031 billion, a contraction of 6.9 percent compared with 2019 figures. ...

The Ministry of Commerce has invited businesses that wish to export to China to join a three-day virtual and in-person expo set to be held in eastern China’s Shandong province from April 27-29. ...

Stock-listed utility Phnom Penh Water Supply Authority (PWSA) reported strong growth and solid overall business performance last year despite economic disruptions caused by the Covid-19 pandemic. ...

Phnom Penh Water Supply Authority (PPWSA), in its annual disclosure document released on Tuesday, reported a pre-tax profit of approximately $29.68 million for 2020. ...

A senior official at the State Secretariat of Civil Aviation (SSCA) said the construction of Dara Sakor International Airport in Koh Kong province is on schedule and plans are for flight operations to begin in mid-2021. ...

The government has welcomed Chevron (Cambodia) Ltd’s plan to nearly triple its network of Caltex petrol stations in the Kingdom to 100, according to a senior official at the Ministry of Mines and Energy on February 28. ...

The Council for the Development of Cambodia (CDC) approved 16 capital investment projects last month totalling more than $700 million that are expected to create 11,414 local jobs. ...

Data from the Ministry of Commerce showed that in 2020 Cambodia exported $3.203 billion of goods to the EU and imported $659 million from the trade bloc. ...

Logistics industry insiders in the Kingdom have not seen evidence of imports and exports growing noticeably in early 2021 but are hoping to see that change as the availability of COVID-19 vaccine inoculations widens in the country and region. ...

Two private companies – Ocean Apparel Manufacturing Co., Ltd., and Glamor Glass Co., Ltd., have just received green light from the Council for the Development of Cambodia (CDC) for their investment projects. ...

Because trade between Cambodia and Timor-Leste remains low, the governments of both nations have decided to work towards boosting bilateral economic and business activities, according to a statement from the Ministry of Foreign Affairs and International Cooperation. ...

The General Directorate of Agriculture said it had submitted a list of 25 mango farms and three treatment facilities to the Chinese General Administration of Customs for sanitary and phytosanitary inspections. ...

The trade value between Cambodia and India saw a dramatic 25.81 percent reduction last year to $190.13 million from 2019’s $256.26 million as the Kingdom embarked on a feasibility study for a free trade agreement (FTA). ...

The National Bank of Cambodia (NBC) and the International Finance Corporation (IFC) will join forces on the “Cambodia Supply Chain Finance Market Development” project and expand financial access for the Kingdom’s small and medium-sized enterprises (SME). ...

Minister of Posts and Telecommunications Chea Vandeth on February 24 encouraged budding digital entrepreneurs to register for licenses and receive technical support, training and “encouragement” from the ministry. ...

Innovation is critical to productivity growth and economic progress in developing East Asia including Cambodia, China, Indonesia, Lao PDR, Malaysia, Mongolia, Myanmar, the Philippines, Thailand, and Vietnam in a rapidly changing world, according to a new World Bank report launched today. ...

The embassy of Cambodia to the Republic of Korea signed a memorandum of understanding (MoU) with DGB Bank to provide cooperation in promoting investment in Cambodia as well as protection for Cambodians in South Korea. ...