Economy and commerce

The Kingdom’s total goods exports to the US, the world’s largest economy in nominal terms, sharply increased in the first quarter of the year to attain nearly $1.863 billion, even amid production stoppages and other Covid woes. ...

The Ministry of Agriculture, Forestry and Fisheries denied that it had allowed the exports of luxury wood from Koh Kong province to Hong Kong. The denial came after the Hong Kong Customs reportedly seized about 211 tonnes of logs from an endangered tree species from Cambodia ...

Cambodia, with support from the World Economic Forum (WEF), on May 12 launched the Supplier Database with Sustainability Dimensions (SD2) database, the first of its kind, to provide information on the sustainability operations of domestic companies. ...

Payment systems in Cambodia have seen remarkable strides in line with the evolution of financial technology (fintech) and significantly contribute to the development of the national economy, as digital transactions witness a Covid-19 boom, the National Bank of Cambodia (NBC) said in the 2020 annual ...

Cambodia exported more than 1.11 million tonnes of cassava, cashew nuts and fresh mangoes to Vietnam in the first three months of 2021, up by nearly 149 per cent despite the two countries tightening their borders over fears of the spread of Covid-19. ...

Khmer Enterprise (KE) and the UN Development Programme (UNDP) have formed a strategic partnership to give a boost to the operational development of the Kingdom’s e-commerce sector and small and medium-sized enterprises (SME), according to a May 11 joint press release. ...

Construction of WorldBridge Industrial Developments Co Ltd’s $30 million WorldBridge i4.0 SME Cluster zone will be delayed by one or two months due to the recent lockdown in Phnom Penh and Kandal province’s Takmao town, chairman Sear Rithy told The Post. ...

Cambodia has set an ambitious target of exporting up to 100,000 tonnes of fresh mangoes a year to China after the Kingdom made the first shipment of the fresh fruit directly to the world’s second largest economic nation on Friday. ...

Cambodia exported $ 1.47 billion worth of products to Vietnam in the first quarter of 2021, a dramatic increase of 443% from the same period last year. ...

The crisis in Myanmar has proven beneficial for Kampong Speu as at least 20 entities have relocated to this province. ...

Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week ...

Cambodia exported $99.87 million of natural rubber from January to April this year, according to the Ministry of Agriculture, Forestry and Fisheries. ...

Cambodia’s garment product exports contracted in the first quarter financial period as hundreds of factories remained closed temporarily because of COVID-19 in Phnom Penh and Takmao city, Kandal province. ...

The Council for the Development of Cambodia (CDC) awarded licences to 94 new investment projects with a registered value of $2.2 billion, during the first quarter of 2021, a 114 percent increase compared to projects approved during the same period last year. ...

Cambodia exported $2.09 billion worth of agricultural products to the international market during the first quarter 2021, according to Minister of Agriculture, Forestry and Fisheries Veng Sakhon. ...

Cambodia’s milled rice exports from January to April of 2021 were down 36 percent from the same period in 2020, according to a report issued by the Ministry of Agriculture, Forestry, and Fisheries (MAFF). ...

The Council for the Development of Cambodia (CDC) yesterday approved two new projects worth $5.6 million that will create nearly 1,500 new jobs. ...

Amid the raging COVID-19 pandemic, Cambodia’s economy in 2020 registered its slowest growth since 1994. However, the country’s growth is projected to rebound this year, thanks to its newly-signed bilateral free trade agreement with China and the Regional Comprehensive Economic Partnership (RCEP).   ...

A total of 206 factories have now been temporarily closed due to the ongoing Covid-19 community outbreak, with 1,673 workers known to have contracted the virus and over 17,000 additional workers currently isolated in quarantine, according to Ministry of Labour and Vocational Training spokesperson Heng ...

The Ministry of Commerce on April 27 responded to criticism that allowing private vendors to sell essential goods at designated locations would run contrary to government preventive health measures – which prohibit gatherings – to stem the spread Covid-19. ...

Cambodia Microfinance Association (CMA) on April 27 urged its members to release more credit to customers as the spread of Covid-19, exacerbated by the February 20 community transmission is having a huge impact on all businesses, especially in Phnom Penh and Takmao town. ...

Cambodia’s economy is forecast to grow 4.0 per cent this year and 5.5 per cent in 2022, as economic recoveries in major trading partners boosts demand for the Kingdom’s exports, according to an Asian Development Bank (ADB) report released on April 28. ...

China has allowed Cambodia to export fresh mangoes directly to its market after Chinese Customs on April 26 certified 37 mango plantations and five packaging factories as compliant with phytosanitary and packaging standards. ...

Aeon Mall, Makro and Virak Buntham Express on April 26 said they will work with the Ministry of Commerce to provide essential food items for sale in designated red zones in a bid to maintain prices and stabilise the supply of goods in the market ...