Economy and commerce

The Cambodia Pepper and Spices Federation (CPSF) in collaboration with USAID-funded Feed the Future Cambodia Harvest II “Harvest II” launched on Monday the “Virtual Export Mission to the Middle East and North Africa”, a new digital export programme aiming to provide significant assistance and expertise ...

The Asian Development Bank has more than halved its forecast for Cambodia’s economic growth this year. It cut the gross domestic product forecast to 1.9 percent from April’s prediction of 4 percent growth. The ADB left next year’s forecast unchanged at 5.5 percent GDP expansion. ...

Minister of Commerce Pan Sorasak plans to lead a delegation to South Korea next month to sign the Cambodia-Korea Free Trade Agreement (CKFTA), if the Covid-19 situation permits, according to a senior official. ...

The listed-Phnom Penh Autonomous Port (PPAP) launched its new container terminal on Monday, upgrading its full capacity in handling containers to 400,000 TEUs per year. ...

The Ministry of Commerce has ordered all foreign enterprises, sole proprietorships, legal entities and branches of foreign companies that engage in the Cambodian e-commerce market to apply for the proper licences or permits by November 30, or face fines, closure, or other legal consequences. ...

The value of exports of garment and accessories from Cambodia rose by 3.3 percent to $5.021 billion in the first eight months of this year, compared with 4.861 billion during the corresponding period last year, according to the statistics from the Ministry of Commerce. ...

The listed company Sihanoukville Autonomous port has rescheduled its construction plans for the deep water port terminal to mid-2022, with construction set to take three years. ...

Consumer prices are expected to remain relatively stable, even amid buoyant spending over the second Covid-era Pchum Ben period which kicks off this week, according to traders based in the capital. ...

Cambodia sold more than $6.8186 billion worth of garments, footwear and travel products on international markets in the first eight months of 2021, according to the Ministry of Commerce. ...

Cambodia’s tourism industry is gearing up to roll out the red carpet for Chinese travellers after Prime Minister Hun Sen on September 17 indicated that the Kingdom could soon throw open its doors to international holidaymakers vaccinated against Covid-19 – starting with guests from China. ...

The Cambodia Microfinance Association (CMA) has disbursed a total $7.730 billion in loan to a close of 2 million customers in the first half of this year. ...

Australia plans to provide about A$90 million (US$66 million) in funding to Cambodia for a new bilateral project dubbed “Resilience Economic Development”, according to the Council for the Development of Cambodia (CDC) on September 15. ...

Local publicly-listed firm RMA (Cambodia) Plc is planning to set up the Kingdom’s first motor vehicle assembly plant, to capitalise on the rising consumer demand for brand-new personal vehicles seen in recent years. ...

Renaissance Minerals (Cambodia) Limited, based in Australia, has obtained a search and explore license of 107.10 square kilometers of metal mining in Memot district, Tbong Khmum province. According to a senior official of the Ministry of Mines and Energy. ...

The government is putting more pressure on Cambodia’s small and medium-sized enterprises (SMEs) to register with the Commerce Ministry and the Tax Department. It wants them to go legitimate in order to protect consumers and make sure it doesn’t miss out on revenue. ...

Prime Minister Hun Sen tells customers affected by investing in Gold FX (GOLDFX INVESTMENT CO., LTD) to file a complaint to the court to seek justice in case the two parties do not reach compromise. ...

The Ministry of Post and Telecommunications, in collaboration with The Idea Consultancy Co Ltd and UN Development Programme (UNDP) Cambodia, is set to host “The Grand Online Shopping Fest” from September 17-19. ...

The rapid pace of Cambodia’s coronavirus vaccination campaigns and subsequent booster shot drives will be key to a faster economic reopening, according to a senior World Bank official on September 13. ...

Negotiations on sanitary and phytosanitary (SPS) commitments for a number of potential Cambodian agricultural exports to China have made remarkable progress at a brisk pace, according to the Kingdom’s top agriculture official on September 13. ...

Vietnam will impose a zero percent tax rate on 31 commodities imported from Cambodia such as live poultry, poultry meat and by-products, lemons and rice. ...

The value of imports and exports passing through the Sihanoukville Special Economic Zone (SSEZ) reached $1.373 billion in the first eight months of 2021, an increase of 44.37 per cent year-on-year, the operator reported.   ...

The sanitary and phytosanitary standard on potential agricultural products are being negotiated to boost more exports from Cambodia to China. ...

Groups representing US and European businesses in Cambodia have welcomed the Draft Law on Investment, which was approved by the National Assembly last week. ...

Cambodia is committed to harnessing digitalisation for better coordination in tax administration, as a jurisdiction that subscribes to China’s Belt and Road Initiative (BRI), according to a General Department of Taxation (GDT) press release issued on September 12.   ...