Economy and commerce

On May 10, Hem Vanndy, Minister of Industry, Science, Technology & Innovation (MISTI), received representatives from Hainan Litree Purifying Technology Co., Ltd. and discussed the company’s interest in expanding its investment in Cambodia’s clean water sector. ...

Visa, a world leader in digital payments, is introducing resources to help Cambodian merchants and tiny and medium-sized businesses (SMBs) take full advantage of Visa’s digital payment solutions to optimize the customer shopping experience and increase sales, particularly in the tourism sector. ...

Cambodia exported $2.35 billion worth of agricultural products in the first four months of this year, said a report from the Ministry of Agriculture, Forestry and Fisheries. ...

Two projects in Sihanoukville with an investment of nearly $600 million have received incentives from the Council for the Development of Cambodia and are estimated to have a positive impact on the economy of Sihanoukville. ...

Cambodia and Japan will strengthen economic ties in a bid to boost trade and investments. ...

The Royal Government of Cambodia will continue to strengthen and pay high attention to economic diplomacy, affirmed Prime Minister Hun Manet. ...

Cambodia is staring at an acute skills shortage in the electric vehicle sector even as it is getting ready to release the ‘National Policy on the Development of Electric Vehicles (EVs) 2024-2030’ soon. ...

In the first four months this year, Cambodia exported 248,491 tonnes of rice worth $170.2 million, a report by the Cambodia Rice Federation (CRF) showed yesterday. ...

Adoption of digital payments has helped in reducing remittance costs, said Chea Serey, Governor, National Bank of Cambodia at a panel discussion on ‘Sustainable Capital: Environmentally Consolidated Finance’ on Monday at the Dubai Fintech Summit in UAE. ...

Cambodia is committed to further enhancing the e-commerce ecosystem as the country is a leading nation in implementing the eTrade readiness assessment recommendations, achieving a remarkable 92 percent implementation rate. ...

Cambodia’s exports grew by an average of 13.3 percent between 2017 and 2023 and reached $23.47 billion, or 54.7 percent of the country’s gross domestic product in 2023. ...

The soon-to-be-built Funan Techo Canal (FTC), a public-private partnership project, will push shipment activities of the state-owned Sihanoukville Autonomous Port (PAS) up to 90 percent, a report by the Council for Development of Cambodia (CDC) showed. ...

Cambodia’s inflation will remain stable this year at 2.3 percent, marginally up from 2.1 percent for 2023, generally in line with other parts of Asia and the Pacific, said the IMF Regional Economic Outlook April 2024. ...

Following a series of negotiations spanning nearly five years, the Cambodian and Philippines governments have concluded the final draft of a double taxation agreement (DTA) between the two nations, in a bid to improve trade and ease investment mechanisms. ...

Cambodia expects to earn $88 million a year from transportation through the Funan-Techo canal by 2050 and reach $570 million a year by then. ...

Cambodians running small businesses are continuing to find the need for working capital as their most pressing need, as per data. As high as 54 percent of 1.89 million loans issued were for working capital, as per the first quarter report of the Small Business ...

The International Monetary Fund (IMF) in its World Economic Outlook for April 2024 revealed Cambodia’s new GDP figures by taking 2014 as the base year for the calculations instead of 2000, showing the economy 35 percent larger than previous GDP calculations indicated. ...

According to the Ministry of Commerce, five automobile manufacturers are reportedly building production facilities in Cambodia. ...

Trade and investment cooperation between Cambodia and Mexico are expected to increase after a business forum which is planned to be organized in Phnom Penh soon. ...

Another 14 projects worth $213 million received approval in Cambodia’s coastal city Sihanoukville recently which included 10 projects for reviving the construction of stalled buildings under the ‘Special Investment Promotion Program’ for the city, launched by Prime Minister Hun Manet earlier in January. ...

Cambodia has seen more than $5 billion approved construction projects in 2023, as per data with CBRE Cambodia. This is a 79 percent increase compared to the previous year. ...

We do not need to be a rocket scientist to deduce that higher interest rates often cause more pain than (being a) panacea. ...

Cambodia’s exports to Japan reached $365 million in the first quarter (Q1) of this year, an increase of 18.4 percent compared to the same period last year. ...

The National Bank of Cambodia (NBC) and the Economic Research Institution for ASEAN and East Asia have recently entered cooperation to develop a strategy for green digital finance in Cambodia. ...