Economy and commerce

A delegation from the International Silk Union (ISU) and the Cathaya Group, a Chinese company specialised in silk textiles and biotechnology, met with the Council for the Development of Cambodia (CDC) on Monday to discuss the possibility of expanding investment projects in the silk and ...

Cambodia generated revenue of $870 million from both rice and paddy exports of which 80 percent of the revenue was generated from paddy export while only 20 percent came from rice, a sum of 2.64 million tonnes in the first four months this year. ...

The new financial development strategy for the next five years aims to help the financial sector bag greater achievements as it supports inclusive economic development, contributing to reducing poverty nationwide, said Chea Serey, Governor of the National Bank of Cambodia (NBC). ...

International Mother’s Day was marked with a bustling marketplace for small and medium business enterprises (SMEs) on Sunday at Raffles Hotel Le Royal. ...

A delegation from Hyuckjin Energy Plant Engineering, a company that deals with environmentally specialized businesses with high-tech and ecotechnology is keen on converting Cambodia’s waste into clean energy, using about 100 tonnes of waste to create 25 megawatts of electricity per day. ...

The state-owned Credit Guarantee Corporation of Cambodia (CGCC), Cambodia Rice Federation (CRF) and participating financial institutions (PFIs) signed an agreement on the $30 million Rice Export Guarantee Scheme (REGS) to help millers stockpile rice for milling, processing, exporting and making local value-added products. ...

“Cambodia International Trade Fair 2024” has gathered over 2,500 international business operators from 16 countries to explore investment opportunities in the Kingdom. ...

On May 10, Hem Vanndy, Minister of Industry, Science, Technology & Innovation (MISTI), received representatives from Hainan Litree Purifying Technology Co., Ltd. and discussed the company’s interest in expanding its investment in Cambodia’s clean water sector. ...

Visa, a world leader in digital payments, is introducing resources to help Cambodian merchants and tiny and medium-sized businesses (SMBs) take full advantage of Visa’s digital payment solutions to optimize the customer shopping experience and increase sales, particularly in the tourism sector. ...

Cambodia exported $2.35 billion worth of agricultural products in the first four months of this year, said a report from the Ministry of Agriculture, Forestry and Fisheries. ...

Two projects in Sihanoukville with an investment of nearly $600 million have received incentives from the Council for the Development of Cambodia and are estimated to have a positive impact on the economy of Sihanoukville. ...

Cambodia and Japan will strengthen economic ties in a bid to boost trade and investments. ...

The Royal Government of Cambodia will continue to strengthen and pay high attention to economic diplomacy, affirmed Prime Minister Hun Manet. ...

Cambodia is staring at an acute skills shortage in the electric vehicle sector even as it is getting ready to release the ‘National Policy on the Development of Electric Vehicles (EVs) 2024-2030’ soon. ...

In the first four months this year, Cambodia exported 248,491 tonnes of rice worth $170.2 million, a report by the Cambodia Rice Federation (CRF) showed yesterday. ...

Adoption of digital payments has helped in reducing remittance costs, said Chea Serey, Governor, National Bank of Cambodia at a panel discussion on ‘Sustainable Capital: Environmentally Consolidated Finance’ on Monday at the Dubai Fintech Summit in UAE. ...

Cambodia is committed to further enhancing the e-commerce ecosystem as the country is a leading nation in implementing the eTrade readiness assessment recommendations, achieving a remarkable 92 percent implementation rate. ...

Cambodia’s exports grew by an average of 13.3 percent between 2017 and 2023 and reached $23.47 billion, or 54.7 percent of the country’s gross domestic product in 2023. ...

The soon-to-be-built Funan Techo Canal (FTC), a public-private partnership project, will push shipment activities of the state-owned Sihanoukville Autonomous Port (PAS) up to 90 percent, a report by the Council for Development of Cambodia (CDC) showed. ...

Cambodia’s inflation will remain stable this year at 2.3 percent, marginally up from 2.1 percent for 2023, generally in line with other parts of Asia and the Pacific, said the IMF Regional Economic Outlook April 2024. ...

Following a series of negotiations spanning nearly five years, the Cambodian and Philippines governments have concluded the final draft of a double taxation agreement (DTA) between the two nations, in a bid to improve trade and ease investment mechanisms. ...

Cambodia expects to earn $88 million a year from transportation through the Funan-Techo canal by 2050 and reach $570 million a year by then. ...

Cambodians running small businesses are continuing to find the need for working capital as their most pressing need, as per data. As high as 54 percent of 1.89 million loans issued were for working capital, as per the first quarter report of the Small Business ...

The International Monetary Fund (IMF) in its World Economic Outlook for April 2024 revealed Cambodia’s new GDP figures by taking 2014 as the base year for the calculations instead of 2000, showing the economy 35 percent larger than previous GDP calculations indicated. ...