Industries

In July, the National Bank of Cambodia (NBC) flagged the “historically” high credit-to-gross domestic product (GDP) ratio, which stood at 189 percent in 2022, with credit-to-GDP gap reaching nearly 40 percent. ...

In line with government initiatives, cash handouts are being extended to displaced workers engaged in the garment sector at 39 factories specialising in textile, footwear, travel products and bags that have temporarily suspended their operations. ...

Leaders of the Central Highlands province of Kon Tum and Cambodia’s Ratanakiri province on October 19 signed a memorandum of understanding on bilateral cooperation for the 2023-2028 period. ...

Cambodia has won two prestigious awards from the World Travel Awards for 2023, the country’s Ministry of Tourism said in a news release on Sunday. ...

Cambodia exported 242,304 tons of dry rubber in the first nine months of 2023, up 3.5 percent from 234,100 tons over the same period last year, said a report from the General Directorate of Rubber on Thursday. ...

The Cambodian currency, Khmer Riel (KHR), is now accepted for exchange with other currencies at Travelex money exchange counters in Singapore’s Changi Airport. ...

Cambodia received nearly 3.7 million air travelers during the first nine months of 2023, a year-on-year increase of 162 percent, said a senior official on Wednesday. ...

The Cambodian and Chinese top leaders have agreed to define 2024 as the year of people-to-people exchange to promote tourism and connectivity between the two countries. ...

Some 1.89 million tourists travelled to various tourism sites across the country during the three-day holiday of Pchum Ben Festival, up 52.2 percent compared to the same period last year. ...

Chinese-invested Siem Reap Angkor International Airport (SAI) here in northwest Cambodia’s tourist hub commenced operations on Monday, raising hope for tourism revitalization. ...

Brazilian Foreign Minister Mauro Vieira called on Prime Minister Hun Manet at the Peace Palace Thursday and discussed matters pertaining to expanding collaboration to boost trade and the flow of tourists between the two countries. ...

Cambodia exported $8.14 billion worth of garment, footwear, and travel products to international markets in the first nine months of 2023, down 17.8 percent from last year, according to the Ministry of Commerce on Wednesday. ...

Cambodia and Malaysia recently decided to promote the ‘Two Countries, One Destination’ tourism plan to tap more into the European and Chinese markets. The campaign will also help Cambodia to attract more Muslim tourists. ...

A senior Cambodian official on Monday called for more Chinese tourists, saying that their presence has significantly contributed to the kingdom’s economic and touristic growth and poverty reduction. ...

The Ministry of Culture and Fine Arts, through the Apsara National Authority (ANA), has launched a call centre and Telegram channel for anybody wanting to take photographs or videos of the places in the Angkor Archaeological Park. ...

The Cambodian tourism sector and authorities have been implementing solutions to prepare for peak tourist season, including simplifying entry procedures at the instruction of Prime Minister Dr Hun Manet. ...

The World Bank has upheld its economic growth forecast for Cambodia this year at 5.5 percent, supported by the resurgence of the services sector, particularly tourism, following the post-pandemic recovery. This projection is in contrast with the Asian Development Bank (ADB), which revised its growth ...

Exports of electrical machinery, equipment and related products surpassed $2.1 billion in the first eight months of 2023, marking a near 100 per cent growth from the same period last year, according to the General Department of Customs and Excise (GDCE). ...

Associations in the footwear and travel goods sector welcomed the hike in the minimum wage for workers in 2024, saying that this will ensure the sector’s competitiveness and enhance the workers’ living standards. ...

The Ministry of Tourism reported a surge in foreign tourist arrivals in Cambodia for the first eight months of 2023. Over 3.5 million international visitors were recorded, marking a 250.8 per cent increase compared to the same period last year. A significant 84.7 per cent ...

Following the labour ministry’s announcement of a 2024 minimum wage set at $204 per month, the employers’ association has voiced their support, while trade union representatives and civil society organisations (CSOs) expressed their disappointment. ...

The minimum wage for garment workers has been raised by $4 a month to $204 in 2024, according to the Prime Minister. ...

Cambodia received some 3.5 million foreign visitors in the first eight months of 2023, a year-on-year increase by 250.8 percent, but a decrease by 19.7 percent compared to the same period in 2019, according to a report of the Ministry of Tourism. ...

The global economic crisis has reduced Cambodia’s latex export earnings to $273.4 million in the first eight months of 2023, according to the Ministry of Agriculture, Forestry and Fisheries’ General Department of Rubber (GDR). ...