Economy and commerce

The chairman of Canadia Bank and Overseas Cambodia Investment Corp (OCIC) said his company is developing a 500-hectare industrial park in Kampong Speu province (along the National Road 51). ...

The Kingdom’s annual $7 billion garment and textile sector, which has already been hard hit by the Coronavirus pandemic, is still struggling to make up for its partial loss of a preferential zero-tax trade deal provided by the European Union due to end in August. ...

The Cambodia Freight Forwarders Association (CFFA) yesterday said the on-going COVID-19 pandemic is seriously damaging logistic providers, with about 10 to 15 percent heading for bankruptcy in the upcoming months. ...

Animal husbandry in Cambodia is projected to enjoy a slight increase of 1.1 percent this year. The growth rate will rise to 1.6 percent in 2021, according a recent report from the government. ...

In the light of COVID-19, however, the sector is estimated to have suffered negative rate growth of 5.3 percent in 2020 and is expected to hit a growth rate of 3.3 per cent next year, according to an updated report by the Ministry of Economy ...

Prime Minister Hun Sen confirmed yesterday that the current Phnom Penh International Airport will be used only for the head of state, heads of local governments and Cambodian senior leaders, as a military airbase, for domestic flights, private jets and for diplomatic officials and foreign ...

A total of 1.9 million tonnes of agricultural products have been exported in the first five months of this year, a 7 percent increase compared to the same period last year. Of the total exported agricultural products, milled rice was accounted for about 350,000 tonnes, ...

Cambodia will seize the opportunity to export vegetables to EU market, a Ministry of Agriculture, Forestry and Fisheries senior official Ngin Chhay has said.  ...

Cambodia must boost the development of the domestic tourism, agriculture and small and medium enterprises (SMEs) to restore its economy  post-COVID-19, according to Ky Sereyvath, Director of China Study Center of RAC. ...

Cambodia has seen recent and rapid growth in digital and electronic payment services, where the platform is regarded as a key to promote the Kingdom’s financial inclusion. ...

The Kingdom’s coastal Sihanoukville, where Chinese nationals national dominated nearly a half of businesses  before the COVID-19 outbreak, is seeing economic activity gradually rebound after   Middle Kingdom’s investors and workers started to return to the province as pandemic fears ease.​ ...

Construction investment projects in Phnom Penh were recorded at more than $1.3 billion from January to May, officials said yesterday. ...

The Kingdom’s non-garment industry is predicted to remain healthy next year, supported by the agriculture and services sector, according to the government’s national strategic budget plan 2021-2023. ...

Cambodia wants China to have a full fruit package deal in negotiations concerning sanitary and phytosanitary issues to export agricultural products to the Chinese market. ...

A rapid shift away from traditional energy sources and towards renewables is required to increase Cambodia’s appeal for manufacturing investment, as large multinationals seek destinations with affordable clean energy to meet legislated quotas.​ ...

The SME Co-Financing Scheme (SCFS) has received 13 applications with a total loan approval value of $2.338 million as of June 11, a senior executive officer of the SME Bank of Cambodia told Khmer Times. ...

South Korean officials have expressed their intention to sign a free trade agreement (FTA) with Cambodia next month to boost bilateral trade, news hailed by local businessmen. ...

Renaissance Minerals (Cambodia) Ltd, a subsidiary of Australia-listed Emerald Resources NL, has reiterated that its first gold production will go as planned despite the impact of the COVID-19 pandemic. ...

Prime Minister Hun Sen recently predicted that the country’s economy may contract 1.9 percent this year due to the COVID-19 pandemic. In a circular on budget planning for 2021-2023, he said Cambodia has recorded a strong fall in demand from its trading partners. ...

Farm loan applications to the state-owned Agricultural and Rural Development Bank (ARDB) reached $31 million on Friday. ARDB director-general Kao Thach said applications for government loans have been growing rapidly since the government officially launched a $50 million fund in March. ...

Cambodian farmers have begun to collect salt flowers and now becoming a new product gaining popularity in the market both domestically and internationally with a considerable price. ...

The two-way trade between Cambodia and Thailand hit $3.1 billion in four months of this year, up 18.3 percent year-on-year, the Cambodian Embassy in Thailand said. ...

The trade volume between Cambodia and U.S. has reached $2.1 billion in the first four months of the year which goes up to 29.31 percent compared to the same period of 2019 which was shared by the U.S Trade Bureau. ...

The Ministry of Agriculture has pledged to achieve the goal of reducing poverty among small landholders despite the COVID-19 pandemic. The ministry is aiming to achieve this through the Agriculture Services Programme for Innovation, Resilience and Extension (ASPIRE) project Phase II by 2022. ...