Economy and commerce

Cambodia’s banking industry had seen robust growth in loans and deposits in 2021 despite the impact of the COVID-19 pandemic, according to a report of the National Bank of Cambodia (NBC) on Saturday. ...

The Ministry of Commerce and Swisscontact, representing the Global Alliance for Trade Facilitation (GATF), are teaming up on a project to make it easier for small- and medium-sized enterprises (SME) to ship and receive small parcels internationally, according to the ministry. ...

A total of 10,536 companies have been successfully registered as of January 12 on the government’s online business registration system, also known as the Single Portal, in the 19 months since its launch in mid-2020. ...

The Minister of Labor and Vocational Training, Dr. Ith Sam Heng, said that the export of textiles, garment, footwear and travel products and bags sectors are the key sector for the Cambodian economy and remain as the country’s most important export sector, with annual growth ...

The National Bank of Cambodia will introduce 10 main policies to support the sustainable economic growth and recovery in 2022. The 10-point policy will fully support the growth of the national economy, which continues to be threatened by the COVID-19 pandemic and its mutations. ...

Bilateral trade volume between Cambodia and Japan topped $1.700 billion in 2021, marking a small increase of 0.49 per cent from more than $1.692 billion a year earlier, according to preliminary data from the Ministry of Commerce.   ...

Minister of Tourism Thong Khon is optimistic that next week’s ASEAN Tourism Forum 2022 (ATF 2022) will be a major catalyst for the broader reopening of tourist attractions in the bloc, and put Cambodia on the map as a safe regional travel destination.   ...

A World Bank released on January 12, 2022, said that  Cambodia’s economic growth this year is expected to reach 4.5 percent this year and is  projected to grow further to 5.5 percent in 2023. ...

The Council for the Development of Cambodia (CDC) on January 12, 2022 announced nine new investment projects that have been approved. The nine investment projects have a capital of more than $43 million and can create jobs for more than 10,000 people. ...

AEON Mall (Cambodia) Co Ltd’s first “multifunctional logistics business centre” is set to break ground early next month and start operations next year, in a special economic zone (SEZ) near Sihanoukville Autonomous Port (PAS), according to a port source with knowledge of the matter. ...

The value of imports and exports handled at the Sihanoukville Special Economic Zone (SSEZ) reached $2.234 billion in 2021, marking a 42.75 per cent rise from $1.565 billion a year earlier, according to a statement released by the operator on January 10. ...

Construction of RMA (Cambodia) Plc’s vehicle assembly plant is 100 per cent complete and installation of the facilities and equipment is nearing the 70 per cent mark, with all signs indicating that production could begin in early April, according to the locally-listed firm’s CEO Ngorn ...

Despite a modest improvement in the Covid-19 situation in Cambodia, the number of new projects outside of special economic zones (SEZ) approved by the Council for the Development of Cambodia (CDC) saw a sharp decline in January-November 2021 compared to the same period a year ...

The newly upgraded 84.74km stretch of National Road 5 – from Battambang town north to Banteay Meanchey provincial capital Sisophon – will improve trade, tourism and investment between Cambodia and Thailand, according to Prime Minister Hun Sen. ...

Cambodia has a new investment law that offers incentives to foreign investors to inject direct investment into the country. ...

Increasing orders for footwear and travel goods from international markets and the opening of new factories in the Kingdom have contributed to labour shortages in the sector, according to Cambodia Footwear Association (CFA) president Ly Kunthai. ...

Bilateral trade between Cambodia and the US in the first 11 months of 2021 topped $8.396 billion, surging by more than 32.1 per cent from over $6.355 billion in the same period last year, according to US Census Bureau (USCB) data on January 10. ...

Cambodia’s global non-gold trade exceeded $36 billion in the first 11 months of 2021, rising by more than 24 per cent year-on-year, according to Ministry of Economy and Finance data. ...

Vietnam bought nearly 80 percent of Cambodia’s nearly $5 billion worth of agriculture exports last year. ...

Cambodia earned about $66.13 million from the export of live adult animals and products of animal origin in 2021, a 40.1 per cent surge from $47.18 million a year earlier, the General Directorate of Animal Health and Production reported. ...

Cambodia is looking for workarounds to ship cargo to China while avoiding the risks and problems associated with ongoing severe congestion at Sino-Vietnamese land border gates, which has been blamed on Beijing’s response to the SARS-CoV-2 Omicron variant and its “dynamic zero-Covid” policy. ...

Prime Minister Hun Sen said his government intends to widen National Road 4 using its own budget for road construction after waiting for donor funding for the project to materialise for a number of years now with no success.   ...

The Cambodia-Korea Free Trade Agreement (CKFTA) is set to enter into force 60 days after the Kingdom’s Ministry of Commerce and South Korean counterpart have notified each other that their respective internal procedures have been completed, as affirmed by ministry spokesman Pen Sovicheat. ...

Cambodia imported road vehicles worth $977.4 million in the first 10 months of 2021, up by more than eight per cent from $901 million in January-October 2020, according to Ministry of Commerce data. ...