Economy and commerce
‘New gov’t to implement Pentagon Strategy’
In an unambiguous message to investors and businesspeople alike, caretaker Prime Minister Hun Sen said yesterday that the new dispensation shall implement the Pentagon Strategy highlighting the new economic development policies and programs initiated by the current government. ...
Kang Sothear
https://www.khmertimeskh.com/501331906/new-govt-to-implement-pentagon-strategy/
Cambodia makes $187 million from rubber exports of nearly 140,000 tonnes in H1
Cambodia exported 139,220 tons of dry rubber in the first half of 2023, up 2.72 percent from 135,537 tons over the same period last year, said a report from the General Directorate of Rubber on Wednesday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501332130/cambodia-makes-187-million-from-rubber-exports-of-nearly-140000-tonnes-in-h1/
Cambodia’s H1 export of Chapter 94 items down 30%
Cambodia earned $369.643 million from the export of “furniture, lighting signs, prefabricated buildings” in the first half (H1) of 2023, down 29.67 per cent from $525.591 million in 2022H1 and down nearly 12.5 per cent from $422.67 million in 2022H2, according to provisional Customs (GDCE) ...
Hin Pisei
https://www.phnompenhpost.com/business/cambodias-h1-export-chapter-94-items-down-30
DPM of Cambodia says China plays crucial role in country’s socioeconomic, infrastructure development
Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn said on Monday that China has played a crucial role in supporting the country’s socioeconomic and infrastructure development. ...
Khmer Times Staff
https://www.khmertimeskh.com/501331308/dpm-of-cambodia-says-china-plays-crucial-role-in-countrys-socioeconomic-infrastructure-development/
Sihanoukville Special Economic Zone, a platform for cross-border investment along the BRI
After graduating from college, Yue Xiduo, a man born in the 1990s, joined a tire company in the Sihanoukville Special Economic Zone, Preah Sihanouk Province, Cambodia. The man said he chose to work here because the special economic zone is an important project for a ...
Khmer Times Staff
https://www.khmertimeskh.com/501331324/sihanoukville-special-economic-zone-a-platform-for-cross-border-investment-along-the-bri/
Cambodia-ASEAN trade valued at over $7 billion in H1
Cambodia’s trade with ASEAN member countries was valued at $7.1 billion in the first six months of this year, accounting for 30 percent of the Kingdom’s total international trade. ...
Khmer Times Staff
https://www.khmertimeskh.com/501331365/cambodia-asean-trade-valued-at-over-7-billion-in-h1/
New government looks to more FDI investment
Cambodia is optimistic that it will continue to attract more foreign direct investments following the formation of a new government after the July 23 election, a top official said. ...
Chea Vanyuth
https://www.khmertimeskh.com/501329609/new-government-looks-to-more-fdi-investment/
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