Economy and commerce

The US Embassy in Phnom Penh on Friday said relations between China and Cambodia did not create jobs or help industry when compared to the trade between the Kingdom and the US. “About 87 per cent of trade [with China] are Chinese imports, which do ...

Cambodia’s rubber exports increased 23 per cent in the first quarter of this year on the same period last year, while rubber prices continue to decrease, according to figures from the General Directorate of Rubber under the Ministry of Agriculture, Forestry and Fisheries. The data ...

Between 1995 and 2017 Cambodia grew at an average rate of 7.7%; gdp per person rose from $321 in 1994 to $1,137 in 2017, after accounting for inflation. Foreign money has flooded in and Cambodia’s economy, which war and the Khmers Rouges had destroyed, has ...

A group of international business associations representing garment, footwear and travel goods buyers have called on the government to improve labour and human rights conditions in the Kingdom in the face of possible preferential trade agreement changes by the United States and European Union. In February, ...

Despite losing its duty-free export status in the EU, the Kingdom’s rice exports saw a six per cent increase in the first quarter of this year compared to the same period last year, according to figures released by the Secretariat of One Window Service for ...

The Cambodian economy is projected to slow slightly this year compared to last year, despite robust growth of around seven per cent, an Asian Development Bank (ADB) report released on Wednesday said. ADB said economic expansion last year hit 7.3 per cent on the back ...

Local firms will no longer be charged value-added tax (VAT) on exports of agricultural goods, Prime Minister Hun Sen announced Friday. The premier said dropping VAT charges on exports of agricultural products – including milled rice, corn, cassava, and pepper – will enhance the competitiveness ...

The Ministry of Industry and Handicraft on Tuesday rejected the Salt Producers Community of Kampot-Kep’s (SPCKK’s) proposal to dissolve, saying it needed more time to figure out the issues facing the industry, its spokesman Oum Sotha said. The decision was made during a meeting on ...

Prime Minister Hun Sen on Wednesday reiterated that he would not be overly concerned if Cambodia had its access to the EU’s preferential “Everything But Arms” (EBA) agreement withdrawn because the Kingdom would not die without it. Hun Sen was speaking to factory workers in ...

Civil society groups and associations released a public statement on Tuesday expressing concern over the EU starting the process to withdraw Cambodia’s access to its preferential “Everything But Arms” (EBA) agreement, as a delegation from the bloc landed in Phnom Penh the same day. ...

Cambodia produced more that 13 million tonnes of cassava last year, a drop on 2017 despite a six per cent increase in cultivation to 650,510ha nationwide, according to the Ministry of Agriculture, Forestry and Fisheries. The data shows Cambodia produced 13,750,076 tonnes of cassava last ...

Prime Minister Hun Sen and his South Korean counterpart, President Moon Jae-in, on Friday agreed to work together to boost trade and investment between the two nations.​ On Saturday, Mr Moon left Cambodia after a three-day state visit during which he also led a delegation ...

The private sector has welcomed the government’s move to reduce the number of public holidays in the in the Kingdom – known for having the most public holidays in the world – by seven days. However, the government had just added the “Day of Remembrance” ...

An Eu delegation is set to arrive in Phnom Penh next week for a two-day official visit to discuss the process for withdrawing Cambodia’s access to its preferential ‘Everything But Arms’ (EBA) agreement, officials said on Tuesday. Meanwhile, analysts have called on the EU to ...

Cambodia’s digital economy remains at a nascent stage and will need at least 10 years to grow and aim for a technology-driven economy, said Minister of Economy and Finance Aun Pornmoniroth. Speaking at the national consultation workshop on Policy and Direction of Cambodia’s Digital Economy ...

Shenzhou International Group Holdings, a leading Chinese clothing manufacturer, on Wednesday broke ground for the construction of a new 150-million-U.S.-dollar garment factory here after operating in the country for 14 years. Lt. Gen. Hun Manet, deputy commander-in-chief of the Royal Cambodian Armed Forces, and Chinese ...

A fact-finding mission sent by the European Union will arrive in Cambodia late this month or early April, European Union Ambassador George Edgar announced this week. During a meeting Tuesday, the EU Ambassador told Minister of Commerce Pan Sorasak that an EU delegation is scheduled ...

Two US congressmen on Tuesday introduced the Cambodia Trade Act bill to ask US President Donald Trump’s administration to review the preferential trade treatment under the General System of Preferences that Cambodia receives from the United States. The CTA bill will require the administration to ...

US-based supporters of Cambodia’s former opposition party have launched a campaign to lobby US lawmakers to support legislation aimed at placing sanctions on the Cambodian government. The activists are planning to call and petition lawmakers to urge them to support the Cambodia Trade Act and ...

The Ministry of Commerce is planning a meeting with public and private actors to discuss the revocation of the European Union’s Everything-but-arms (EBA) deal and to find ways to diminish its impact on the economy, the ministry said in a press release. The ministry’s statement, ...

Cambodia has unveiled several measures to support local manufacturers and exporters in case the European Union (EU) decides to temporarily strip trade preferences from the country, according to China’s Xinhua News Agency. The Cambodian Ministry of Commerce issued a statement on February 12, saying that it ...

Rice exports last month were five per cent lower than in January last year, after a full year of decline in 2018. However, a sector insider said it is not a major concern because it is only the beginning of 2019. A report from the ...

The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. ...

The Gideon Group, a US-based global finance firm, yesterday announced its intention to invest $488 million in a 135-megawatt solar plant in Kandal province. In a statement issued yesterday, Gideon Group president and CEO Salman Khan said the Kandal solar project is being developed by ...