Economy and commerce

The National Bank of Cambodia (NBC) and National Police on February 2 issued a joint statement warning of the risks associated with informal financial services, which it said could put borrowers in excessive debt or otherwise upend their lives. ...

The merchandise trade volume between Cambodia and Malaysia totalled $620.373 million in 2022, rising by 23.33 per cent over a year earlier, with Cambodian exports accounting for a 18.03 per cent share, down by 2.11 percentage points on a yearly basis, according to the General ...

The Ministry of Commerce has been preparing for the establishment of five Cambodian private business centres in main cities of China in order to promote the sale of Cambodian products in the Chinese market.​ ...

Prime Minister Hun Sen expressed his hope that between three and four million foreign tourists will visit Cambodia this year. ...

The Bangkok-based Cambodia Business Council (CBC) and local Innovation and Development Investors Association (IDI) have joined forces to engage with and attract more investors as well as to improve Cambodian exports regionally and globally. ...

The Council for the Development of Cambodia (CDC) notices issued in January reveal that it has greenlit 10 new projects worth nearly $100 million, all in the manufacturing industry: eight involved in textiles and two in light bulbs. ...

The Cambodia Rice Federation has set an ambitious goal to export at least a million tons of milled rice by 2025, an over 50 percent increase compared to the export figure in 2022. ...

The Royal Government of Cambodia (RGC) is set to prepare and launch the informal economy policy before the end of 2023 to develop and upgrade the informal sector in a management system under the formal economy, said a top official of the Ministry of Economy ...

Prime Minister Hun Sen lauded the General Department of Taxation (GDT) for its efforts in collecting tax revenue that exceeded the budget plan in 2022, adding that the increased tax revenue contributed to the national economic development. ...

A total of $3.4 billion was collected in taxes in 2022, marking a 23.96 percent increase from 2021. ...

The Ministry of Commerce registered 10,701 new companies and enterprises in 2022, up 40 percent from 2021, reflecting Cambodia’s post pandemic economic recovery, said a report of the Ministry of Commerce released earlier this week. ...

The Economic Intelligence Centre of the Siam Commercial Bank forecasts the CLMV countries, namely Cambodia, Laos, Myanmar and Vietnam, will gain a stronger growth momentum in 2023, but remain below its growth potential prior to the COVID-19 outbreaks. ...

Cambodia’s 9.19 per cent on-year rise in foreign trade value to the $52.425 billion logged by Customs for 2022 was driven by “in-depth reforms in all areas”, improvements in export competitiveness, and an increasingly favourable business and investment environment, according to Minister of Commerce Pan ...

Local company HTTH Island Investment Co Ltd is reportedly studying the feasibility of a 16.68sq km “eco-tourism” development project on Koh Thmey island, just southeast of Prey Nop district’s Ream National Park in Preah Sihanouk province. ...

The Ministry of Commerce plans to set up five Cambodian private business centres in China to step up the Kingdom’s exports to the East Asian giant and maximise use of the bilateral free trade agreement (FTA) between the two countries, the ministry’s two-day annual meeting ...

Cambodia ranks 150 of 180 countries in the annual Corruption Perceptions Index (CPI) for 2022, an improvement over 2021, when the country ranked 157th. ...

The Cambodian People’s Party (CPP) has set economic strategies for Cambodia for the next five years to become an upper-middle-income country by 2030 as the economy is striding with ongoing necessary strengths after slipping into negative 3.1 percent in 3.1 percent, according to a resolution ...

The Royal Government of Cambodia (RGC) on Monday issued another set of guidelines on additional measures to further control the impacts of the recovery of tourism in Cambodia as the economy has still been at high risk and uncertainty of regional and global changing trends, ...

Cambodia earned $900 million from the export of bicycles in 2022, which is an increase of 43 percent over the $631 million reported for 2021, according to a report by the Ministry of Commerce. ...

The government’s strategic measures and reforms helped Cambodia register remarkable export growth, the Ministry of Commerce said yesterday. ...

The Ministry of Commerce has earned more than $15 million to bolster the national budget, an increase of more than six percent over 2021, according to a report. ...

A delegation of Sumitomo Mitsui Banking Corporation (SMBC), led by its Managing Executive Officer and Co-Head of the Asia Pacific Division Rajeev Kannan, is seeking for investment opportunities in Cambodia, especially in areas of logistics and tourism port. ...

Cambodian taxes can currently be paid at 10 commercial banks, thanks to memorandums of understanding (MoU) signed by the Ministry of Economy and Finance in a bid to improve tax administration efficiency and make life easier for taxpayers, according to a General Department of Taxation ...

The local WorldBridge Group of Companies and South Korean-owned Luxury Business Group (LBG) entered into a joint venture (JV) to develop professional training in the Cambodian retail industry, with a focus on the luxury segment. ...