Economy and commerce

Cambodia and Myanmar are in the process of expediting negotiations on two important draft agreements in a bid to swiftly increase trade cooperation with each other, citing low bilateral trade volume. ...

Bilateral trade between Cambodia and Malaysia was worth $205.2 million in the first four months of 2022, surging by over one-third from nearly $152.9 million from the corresponding period last year, according to Customs. ...

Cambodia and Singapore have agreed to work together to further boost their bilateral trade. ...

Council for the Development of Cambodia (CDC) has approved two new investment projects with a total capital of $6.1 million in Takeo and Kampong Speu. ...

An unnamed private company is seeking to lease 308ha of land in the Cardamom Mountain Biodiversity Conservation Corridor for eco-tourism development, in the southeastern corner of Koh Kong province, according to provincial deputy governor Ouk Pheaktra.   ...

Only 20% of hotels in Siem Reap province have reopened after the Covid-19 outbreak in the province subsided, most other hotels have either shut down or are temporarily closed, while others will reopen at a later date when tourist numbers increase. ...

The Ministry of Tourism puts a target of at least a million foreign tourists this year, outlining the main tourism markets as Asean, South East Asia countries, US, France and UK. ...

In an effort to boost bilateral ties between Cambodia and India, Indian Prime Minister Narendra Modi reached out to Prime Minister Hun Sen and held a virtual meeting yesterday, according to a press release issued by the Embassy of India in Phnom Penh. ...

Prime Minister Narendra Modi held a virtual meeting with his Cambodian counterpart Hun Sen on Wednesday where they discussed a wide range of bilateral issues, including capacity building programmes and quick impact projects under the framework of Mekong-Ganga Cooperation. ...

The government yesterday released a financial intervention package of $150 million to revive the tourism sector by financing businesses affected by the Covid-19 pandemic in the last two years. ...

Cambodian economy will grow at 5.1 percent this year and 6.2 percent in 2023, according to the Ministry of Economy and Finance. ...

Cooperation projects under the Belt and Road Initiative (BRI) have provided tangible benefits to Cambodia and the world during the COVID-19 pandemic, a scholar in Cambodia said on Saturday. ...

The International Labour Organization (ILO) estimates that as many as 93% of those who are employed in Cambodia are part of the informal economy, while the share in Myanmar and Indonesia, two other Southeast Asian countries, is as high as 85%. ...

Cambodia exported goods for a total of $7,606 million in the first four months this year, a 32 percent increase over the same period last year, data from the General Department of Customs and Excises showed. ...

The Kingdom’s trade volume reached $17.65 billion in the first four months of this year, up 15.47 per cent versus the $15.28 billion to the same period last year, according to the General Department of Customs and Excise (GDCE).   ...

The Cambodian Rehabilitation and Development Board of the Council for the Development of Cambodia (CRDB / CDC) and Korea International Cooperation Agency (KOICA) held a roundtable dialogue here on May 16 to review request survey of new projects for 2024 in Cambodia. ...

Cambodia and Vietnam have agreed to ensure the sustainability of the value chain to meet trade demands in accordance with the EU-Vietnam Free Trade Agreement (EVFTA), which came into force in July 2020. ...

Green Sea Agriculture Co Ltd spent nearly $70 million in the course of over three years to grow six varieties of mango in Stung Treng province for export to China. ...

IPEF is created to encourage regional economies to “decouple” from the Chinese market by leading them to alternative supply chains, a step that Washington believes will help exclude China from the regional trading and supply systems. ...

In Cambodia, online shopping – typically on smartphones and tablets – is becoming increasingly popular due to its convenience. However, this presents significant issues for less technologically savvy buyers, who may be more vulnerable to scams, especially when shopping on social media. ...

China is willing to deepen pragmatic financial cooperation with regional countries and promote innovative regional cooperation to better grapple with global growth challenges and drive up regional growth, an official said. ...

Mainboard-listed commercial bank ACLEDA Bank Plc’s net profit for the first quarter ended March 31 fell 20 per cent to $35.36 million from $44.10 million last year as a result of widening net impairment loss, interest expense, and general and administrative expenses. ...

Cambodia netted $241.41 million from exports to Canada in the first quarter of 2022, marking an 8.1 per cent rise year-on-year from $223.23 million, and accounting for 98.2 per cent of bilateral trade over the period, according to Customs. ...

The Council for the Development of Cambodia (CDC) has approved four new investment projects with a total capital of $13.9 million. ...