Economy and commerce
VIDEO: CDC updates law, sub-decree to investors
Officials of the Council for the Development of Cambodia (CDC) on Tuesday disseminated the new Law on Investment to the members of the Travel Goods and Leather Association (CTLA) and Cambodia Footwear Association (CFA). ...
Nuon Soksarim
https://www.khmertimeskh.com/501327605/video-cdc-updates-law-sub-decree-to-investors/
Serey: Central bank’s MoU with UnionPay not yuan agreement
National Bank of Cambodia deputy governor Chea Serey clarified on July 16 that a recent memorandum of understanding with China’s UnionPay was not an agreement to legalise the Chinese yuan in the Kingdom or the Cambodian riel in China. Rather, it permits mobile payments using ...
Sok Raksa
https://www.phnompenhpost.com/business/serey-central-banks-mou-unionpay-not-yuan-agreement
H1 vehicle imports slow down by 20% on-year to $457M
Cambodia imported a total of $456.673 million worth of “rot’yon” -class automotive motor vehicles in the first half of 2023, down 19.90 per cent year-on-year from $570.099 million, according to the Ministry of Commerce. ...
Hin Pisei
https://www.phnompenhpost.com/business/h1-vehicle-imports-slow-down-20-year-457m
SERC program allows creation of investor, trading accounts
The Securities and Exchange Commission of Cambodia (SERC) last week formally rolled out an online program simultaneously allowing interested individuals to open investor accounts with the government agency and set up trading accounts with the Cambodia Securities Exchange (CSX), according to CSX market operations director ...
May Kunmakara
https://www.phnompenhpost.com/business/serc-program-allows-creation-investor-trading-accounts
Central bank poised to auction off 90B riel on July 25
The National Bank of Cambodia (NBC) is set to hold its 134th liquidity-provided collateralised operation (LPCO) on July 25, making 90 billion riel ($22 million) available to local financial institutions in need of liquidity, through an auction to buy US dollars. ...
May Kunmakara
https://www.phnompenhpost.com/business/central-bank-poised-auction-90b-riel-july-25
New investment law offers attractive incentives for agriculture
Cambodia’s Investment Law heralds new opportunities for investors, offering generous incentives and a focus on diversified sectors. Agriculture takes center stage with attractive tax reliefs and a vision for climate-smart practices. ...
Seng Mengheng
https://kiripost.com/stories/cambodia-new-investment-law-offers-attractive-incentives-for-agriculture
Power firms shifting focus to green projects with Cambodia standing to gain
Chinese companies’ investment in new energy globally surges 55.6% in 2022 ...
Khmer Times Staff
https://www.khmertimeskh.com/501326667/power-firms-shifting-focus-to-green-projects-with-cambodia-standing-to-gain/
UN official sees Cambodia’s plunged poverty rate as positive step towards LDC graduation
Cambodia’s remarkable decline in poverty rate is a positive step towards the Southeast Asian country’s graduation from the Least Developed Country (LDC) status, a United Nations official said on Tuesday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501326643/un-official-sees-cambodias-plunged-poverty-rate-as-positive-step-towards-ldc-graduation/
Chinese yuan not to be legalized in Cambodia, NBC confirms
The agreement between the National Bank of Cambodia (NBC) and UnionPay International is not to legalize the Chinese currency in the nation but rather to raise the prestige of the Khmer riel through cross-border QR payments, NBC’s deputy governor-general confirmed after concerns were raised over ...
Mao Sreypich
https://kiripost.com/stories/nbc-chea-serey-chinese-yuan-not-to-be-legalized-in-cambodia
Cambodia’s export to RCEP countries up 24 percent in H1
Cambodia’s total export to other Regional Comprehensive Economic Partnership (RCEP) countries amounted to $4.07 billion in the first half of 2023, up 24 percent from $3.28 billion over the same period last year, said the Ministry of Commerce’s latest report released on Tuesday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501326651/cambodias-export-to-rcep-countries-up-24-percent-in-h1/
Consumers’ complaint mechanism soon, NBC says
The National Bank of Cambodia has prepared a draft proclamation on standardised or common consumers’ complaint response mechanism for all banking, payment and financial institutions in the country to comply with NBC’s guidelines after consumers have expressed dissatisfaction over the existing mechanisms, said a senior ...
Kang Sothear
https://www.khmertimeskh.com/501325554/consumers-complaint-mechanism-soon-nbc-says/
Cambodia looks to enhance agriculture exports with Ghana
Cambodia is looking to enhance its cooperation in several sectors, especially agriculture, with Ghana. ...
Adur Pradeep
https://www.khmertimeskh.com/501325555/cambodia-looks-to-enhance-agriculture-exports-with-ghana/
Online biz urged to register at single portal
The Ministry of Commerce launched an online registration platform to allow owners of online businesses to register for permits and licenses, and those who run online businesses without license will have to face legal action. ...
Chea Vanyuth
https://www.khmertimeskh.com/501325759/online-biz-urged-to-register-at-single-portal/
Cambodia hopes RCEP, bilateral FTAs to boost exports of garment, footwear, travel goods
Cambodia has pinned hopes on the Regional Comprehensive Economic Partnership (RCEP) agreement and bilateral Free Trade Agreements (FTAs) to boost its exports of garment, footwear and travel (GFT) goods. ...
Khmer Times Staff
https://www.khmertimeskh.com/501325280/cambodia-hopes-rcep-bilateral-ftas-to-boost-exports-of-garment-footwear-travel-goods/
Foreign investments up $45.8b in Q1’23 - NBC
Cambodia recorded a nine percent year-on-year growth in foreign direct investment (FDI) at 185.7 trillion riel ($45.8 billion) in the first quarter of 2023, the National Bank of Cambodia (NBC) revealed via Twitter yesterday. ...
Sangeetha Amarthalingam
https://kiripost.com/stories/cambodia-nbc-foreign-investments-up
Cambodia greenlights manufacturing investments exceeding $50 million
New garment manufacturing investments are being drawn to Cambodia, as confirmed by the Cambodia Investment Board (CIB), a division of the Council for the Development of Cambodia (CDC). ...
Khmer Times Staff
https://www.khmertimeskh.com/501324486/cambodia-greenlights-manufacturing-investments-exceeding-50-million/
Nine new investments worth $77M to deliver 17K jobs
The Council for the Development of Cambodia’s (CDC) two regular notices issued month-to-date reveal that the government body has approved registration certificates for nine new private investment projects – all in manufacturing – valued at a total of $77.4 million and set to deliver an ...
Hin Pisei
https://www.phnompenhpost.com/business/nine-new-investments-worth-77m-deliver-17k-jobs
NBC navigating China’s cross-border interbank payment system: Serey
Cambodia’s journey towards becoming a member of the Chinese central bank’s Cross-Border Interbank Payment System (CIPS) will require more time due to the “stringent conditions” put forth by the central bank, according to National Bank of Cambodia (NBC) deputy governor Chea Serey. ...
Van Socheata
https://www.phnompenhpost.com/business/nbc-navigating-chinas-cross-border-interbank-payment-system-serey
Cambodia hopes RCEP, bilateral FTAs to boost exports of garment, footwear, travel goods
Cambodia has pinned hopes on the Regional Comprehensive Economic Partnership (RCEP) agreement and bilateral Free Trade Agreements (FTAs) to boost its exports of garment, footwear and travel (GFT) goods. ...
Khmer Times Staff
https://www.khmertimeskh.com/501325280/cambodia-hopes-rcep-bilateral-ftas-to-boost-exports-of-garment-footwear-travel-goods/
Government collectS more than $2 billion in taxes in H1
According to the online revenue management system of the General Department of Taxation, in the first half of 2023, taxes collected totalled 8,393.17 billion riels or approximately $2.072 billion. ...
Khmer Times Staff
https://www.khmertimeskh.com/501324387/government-collects-more-than-2-billion-in-taxes-in-h1/
Cambodia approves 5 new factories worth over $50mn
Five companies have been granted investment plan registration certificates by the Cambodian Investment Board (CIB), part of the Council for the Development of Cambodia (CDC). These firms, are mainly involved in textiles and garments and plan to set up factories across the country, investing around ...
Khmer Times Staff
https://www.khmertimeskh.com/501323430/cambodia-approves-5-new-factories-worth-over-50mn/
Cambodia earns $331 mln from bicycle export in first half of year, down 30.5 pct
Cambodia exported bicycles worth $331 million to foreign markets in the first half of 2023, a year-on-year drop of 30.5 percent, said a Ministry of Commerce’s report on Thursday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501324107/cambodia-earns-331-mln-from-bicycle-export-in-first-half-of-year-down-30-5-pct/
China strengthens investment in Cambodia
The Council for the Development of Cambodia (CDC) has announced that it approved 113 new investment and expansion projects with combined registered capital of about $1.1 billion in the first half of this year, of which nearly 65% came from Chinese investors. ...
Khmer Times Staff
https://www.khmertimeskh.com/501324125/china-strengthens-investment-in-cambodia/
Cambodia attracts $1.1 bln fixed-asset investment in H1 of 2023
Cambodia attracted 113 fixed-asset investment projects worth $1.1 billion in the first half of 2023, creating some 122,000 new jobs, said a Council for the Development of Cambodia’s report on Tuesday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501322866/cambodia-attracts-1-1-bln-fixed-asset-investment-in-h1-of-2023/