Economy and commerce

The bank’s Cambodia Economic Update Report released yesterday said that Cambodia’s real growth of Gross Domestic Product (GDP) is forecast to decelerate to 7 percent in 2019, down from 7.5 percent in 2018.​ ...

Cambodia’s economy remained robust, underpinned by solid export performance and strong domestic demand, even as real growth is expected to decelerate to 7.0 per cent this year from 7.5 per cent last year, the latest World Bank Cambodia Economic Update said on Wednesday. ...

EU Ambassador Carmen Moreno has vowed to bring more European investors into the Kingdom and pledged to uphold good relations between the EU and Cambodia.​ During a meeting with Senate president Say Chhum yesterday, Ambassador Moreno acknowledged the country’s progress and improvement under the government’s ...

Association of Banks in Cambodia president In Channy on Tuesday said the Kingdom’s banking sector will remain strong and not be directly affected by the potential suspension of its access to the EU’s “Everything But Arms” (EBA) trade agreement. ...

A lack of working capital has remained a challenge for the Kingdom’s rice industry and has impeded rice export growth for years, industry insiders said. The comments were made at a meeting between the state-owned Rural Development Bank (RDB) and the Cambodia Rice Federation (CRF) on ...

China has not yet purchased milled rice from Cambodia for the period 2019-2020, with the country still trying to fulfill its quota for the year 2018. Kao Thach, CEO of Rural Development Bank (RDB), told Khmer Times that Cofco – China’s largest food processor, manufacturer and trader ...

Cambodian exporters are hopeful that a free trade agreement with South Korea will boost trade between the nations and attract more investment into the Kingdom.​ Chang Hoon Lee, managing director of Korean exporter Hyundai Agro, said the move is a positive development. A free-trade pact ...

National Bank of Cambodia (NBC) governor Chea Chanto said on Monday that the Kingdom’s economy has maintained robust growth with low and manageable inflation which paves a favourable path for the banking sector’s continuous development. Meanwhile, fintech is playing an important role in the financial ...

Cambodia and South Korea yesterday signed five agreements, including the launch of a joint study on the possibility of a free trade agreement.​​ The agreements were signed by Foreign Affairs Minister Prak Sokhonn and his Korean counterpart Kang Kyung-wha on the sidelines of the Asean-Republic ...

The agreement to conduct the study was signed between South Korea’s Trade Minister Yoo Myung-hee and Cambodian Commerce Minister Pan Sorasak in the Korean city of Busan, where a two-day Asean summit is being held. ...

Two Chinese companies plan to invest in a car assembly plant and an organic fertiliser processing plant in Cambodia, following a visit by a delegation of 20 company representatives from Shandong province last week. The delegation was led by Shandong provincial vice-governor Wang Shujian, who met ...

The 22nd Asean Banking Conference and the 49th Asean Banking Council Meeting kicks off on Monday in Phnom Penh, Cambodia. This is the Kingdom’s first time hosting the conference and the second time for the council meeting. The event is organised by the Association of ...

Cambodia last week asked the United States to increase investments in the Kingdom, claiming that working conditions here have improved dramatically in recent years. The appeal was made by Commerce Minister Pan Sorasak in a meeting on Friday with US Ambassador Patrick Murphy. Mr Sorasak ...

The government last week said the extractive industry is on course to become a main economic pillar. Cambodia’s economic development is mostly driven by the construction, real estate, tourism, garments and agricultural sectors, but the government is working to diversify, with the extractive industry set ...

Cambodia Securities Exchange- (CSX-) listed Phnom Penh Autonomous Port (PPAP) reported $8.97 million in net profit during the first nine months of this year – up 46.9 per cent from $5.98 million during the same period last year. ...

The Cambodia Chamber of Commerce (CCC) on Thursday signed 18 memorandums of understanding (MoUs) with a visiting delegation of Chinese business leaders from 24 firms. They involved various forms of cooperation. ...

Minister of Commerce Pan Sorasak on Thursday expressed his optimism that garment, textile, footwear and travel goods exports will continue to enjoy strong growth over the next few years. He cited better working conditions and labour compliance as the main drivers of the Kingdom’s industrial ...

Prime Minister Hun Sen on Wednesday urged Pakistan to boost trade and investment between the two countries. The appeal was made during a meeting with Deputy Speaker of the National Assembly of Pakistan Qasim Khan Suri at the Peace Palace in Prampi Makara district’s Mittapheap commune ...

A Commerce Ministry official said on Thursday that initiation of talks with China for a free trade agreement were not linked to a potential suspension of the ‘Everything But Arms’ trade scheme. The Chinese Embassy in Phnom Penh announced last week that the two countries ...

Cambodia exported more than $7.97 billion worth of garment, textile and footwear (GTF) products in the first nine months of this year, up 13.18 per cent year-on-year from $7.044 billion, a report from the Ministry of Economy and Finance’s General Department of Customs and Excise ...

Minister of Public Works and Transport Sun Chanthol on Tuesday called on China’s Hunan province to promote bilateral trade, cooperation and investment, and seize opportunities in many potential sectors. He was speaking at the Hunan Investment Promotion and Machinery Expo in Phnom Penh on Tuesday to ...

The EU slammed the government for the dire human rights situation in the Southeast Asian country, giving it a one-month deadline to respond to a preliminary report on suspending trade preferences before deciding whether to go ahead with the plan. Brussels has warned Phnom Penh ...

Two Cambodia Securities Exchange- (CSX-) listed firms – Grand Twins International (GTI) and Sihanoukville Autonomous Port (PAS) – reported a strong business performance with high revenue in the third quarter of this year. ...

Outstanding loans and deposits in Cambodia’s crowded microfinance institution (MFI) sector have seen a sharp rise in the first three quarters of this year. ...