Economy and commerce

The China-proposed Global Development Initiative will create a platform for joint growth and see more benefits go to Cambodia due to its cooperation with China to build a community with a shared future, officials and business leaders said. ...

The Cambodia Chamber of Commerce (CCC) will host the ASEAN Business and Investment Summit 2022 next month in Phnom Penh, where leaders of the bloc, its dialogue partners, and business decision-makers discuss and exchange views on various challenges, including economic recovery, geopolitical tension, the Regional ...

China Matrix Technology Group-Horche Intelligent Automobile plans to set up a unit to assemble electric vehicles in Koh Kong province, as per a virtual meeting on October 22. ...

In continuance with the policy to strengthen the Covid pandemic-scarred economy and push for growth, the Council for the Development of Cambodia (CDC) has recently approved projects worth $25.4 million. They are expected to generate around 6,500 job opportunities. ...

In six years, from September 2016 to September 2022, Cambodia’s Ministry of Public Works and Transport managed to sell 225,171 special and personalized car registration number plates earning $82,418,125. ...

About 15,000 tonnes of natural salt imported from India are now in stock to meet local demand, after adverse weather conditions dragged down domestic salt production this year to under 40,000 tonnes, roughly 30,000-60,000 tonnes fewer than estimates for annual nationwide consumption, according to industry ...

Hodo Group, a private textile and garment maker based in Wuxi, Jiangsu province in East China, said it would strive to become a world-class enterprise, said Zhou Haijiang, board chairman of the group and a delegate to the 20th National Congress of the Communist Party ...

At yesterday’s luncheon discussing Cambodia’s startup and SME ecosystem, Vongsey Vissoth, permanent secretary of state of Ministry of Economy and Finance (MEF), said Khmer Enterprise (KE) will increase its investment portion from $5 million to $10 million as part of the nation’s Covid-19 recovery plans ...

A rice mill has signed a Memorandum of Understanding (MoU) with a Mongolian business council that aims to see Cambodia export rice to the landlocked country in the near future. ...

More than 50 government, civil society organizations (CSOs), unions and private sector officials met at an October 20 forum to discuss the benefits and challenges in the agricultural sector related to free trade agreements (FTA). ...

Members of Cambodia’s apex bodies of the banking and microfinance industries have agreed to ease restrictions on loan repayments, reduce interest rates, as well as restructure loans for customers deemed to be significantly affected by the heavy rains and floods that have swept the Kingdom ...

The finance minister has asked South Korea’s Booyoung Group to invest more in the Cambodian financial-technology (fintech) market, which has seen remarkable growth during Covid-19, as the company’s chairman revealed preliminary plans for a university in the Kingdom focused on fintech and taxation. ...

Siem Reap-Angkor International Airport is still on track to open in October 2023, with work on Phase I reaching 44 per cent as of end-September, according to a senior civil aviation official. ...

Local publicly-listed river port operator, Phnom Penh Autonomous Port (PPAP) reported a revenue of over $30.3 million during the January-September period of 2022, a 21 percent year-on-year compared to the same period in 2020. ...

As part of the process to strengthen and widen the base of the economy as the country has entered the fourth quarter of 2022, the Government of Cambodia is seeking to tick all the right boxes, and it includes tourism, textiles exports as well as ...

Financial institutions said on Wednesday that they will provide favorable easing to customers who have been affected by severe floods, following an appeal by Prime Minister Hun Sen. ...

Public listed Phnom Penh Autonomous Port (PPAP) recorded a 30 percent year-on-year jump in container throughput at 329,043 TEUs (twenty-foot equivalent unit) in the first nine months ended Sept 30, 2022 compared to 256,407 TEUs. ...

Prime minister Hun Sen on Monday called on all microfinance institutions (MFIs) to throw a financial lifeline to people affected by flooding and defer loan repayments and ease interest rates. ...

A total of 3,789 businesses were successfully registered on the Online Business Registration Platform, also known as the “Single Portal”, in the 125 days to October 17, bringing the cumulative figure to 18,465, according to the Online Business Registration Service, the competent government agency. ...

Cambodia Minister of Labour and Vocational Training Ith Samheng has called on more initiatives to improve working conditions for workers in small and medium enterprises and informal economy in ASEAN and ASEAN partner countries. ...

Cambodian Prime Minister Samdech Techo Hun Sen said on Monday that some 200,000 vehicles had traveled on the kingdom’s first-ever expressway since it was open to the public for trial use for free on Oct 1. ...

Growth momentum in foreign inbound investment and orders have driven up the value of imports and exports handled at the Sihanoukville Special Economic Zone (SSEZ) in the first three quarters of this year, reported at $1.904 billion, up 21.27 per cent from the $1.57 billion ...

The unemployment rate in Cambodia is expected to reach 2 percent by the end of 2022, according to Trading Economics global macro models and analysts’ expectations. In 2023, Cambodia’s unemployment rate is projected to trend around 2 percent and 0.90 percent in 2024, according to ...

Amid economic improvement with rising foreign visitors, Cambodia’s tourism recovery is expected to improve in 2023 pushing GDP to 6.2 percent.   ...