Economy and commerce

Cambodian importers and exporters can now apply for ASEAN Customs Declaration Documents (ACDD) electronically through the ASEAN Single Window (ASW), the General Department of Customs and Excise of Cambodia (GDCE) said on December 24. ...

Local conglomerate Overseas Cambodia Investment Corp (OCIC), the company behind the new Phnom Penh International Airport, has told Construction & Property Magazine that it will build an expressway (flyover) that will connect the city centre to the new airport. ...

The Ministry of Commerce has begun the review of the policy and strategy for Free Trade Agreement (FTA) to optimise its benefits both for Cambodia and concerned parties. ...

Cambodian Senate president Say Chhum called for increased South Korean investment and tourism in the Kingdom as bilateral ties between the two countries have gradually strengthened. ...

The Entrepreneurship Development Fund  (EDF) Board of Trustees convened last week to review some of EDF’s notable achievements in 2020 in supporting Cambodia’s growing entrepreneurial ecosystem. ...

Tax cuts and exemptions will be extended to help companies and unemployed workers better weather the ongoing effects of the COVID-19 pandemic, according a statement issued last week by the government. ...

Cambodia exported 8.55 million tonnes of its six most profitable agro-industrial crops, through formal and informal channels, worth more than $2.32 billion this year as of December 15, according to Minister of Agriculture, Forestry and Fisheries Veng Sakhon. ...

The Ministry of Mines and Energy has given the nod to two companies to continue their exploration licence approval processes for some 207sq km of gold-polymetallic mining areas in Tbong Khmum and Ratanakkiri provinces. The areas are 107.10sq km in the Memot area in Tbong ...

The Cambodia-Australia Consumer Protection Partnership will launch in 2021 with Australia having agreed to station a consumer protection technical official in the Kingdom following a request by the Ministry of Commerce. This will allow the sharing of expertise and experience towards the enhancement of work ...

The government has decided to extend the stamp duty tax exemption deadline for property worth less than $70,000 from January to December 2021. The official announcement, released this week, is intended to boost the economy by encouraging more property transactions.  In its announcement, the government ...

The two new projects, with a total investment capital of $6.4 million, will be located in Khan Pursenchey, Phnom Penh capital, and Samrong district, Takeo province, pointed out the CDC in an announcement issued this afternoon. The newly-approved projects are expected to create some 2,571 ...

Sathapana Bank Plc received a $50 million loan from Proparco, a subsidiary of Agence Francaise de Developpement (AFD) to increase lending by the bank to small and medium-sized enterprises (SMEs) and women entrepreneurs in Cambodia. ...

Cambodian Keo Romiet mangoes remain on target to be directly exported to the Chinese market from early next year after the economic powerhouse penned an agreement in June that set up a 500,000 tonne quota for the Kingdom’s widely-available fruit. ...

The Cambodia Securities Exchange- (CSX) listed Phnom Penh SEZ Plc (PPSP) on December 21 broke ground on a new rental warehouse which is expected to be operational in July next year, according to a senior official of the industrial zone operator. ...

The Central Banks of Cambodia and  Laos have vowed to strengthen bilateral cooperation and relation on the development of the financial and economic sectors and to build friendship and cooperation between the two nations. ...

Bilateral trade volume between Cambodia and the UK reached $813.22 million in the first 11 months of this year, falling 17.61 per cent from the $987.09 million logged in the same period last year, according to the Ministry of Commerce. ...

The Ministry of Commerce on December 18 said it will indefinitely postpone another trade fair under the umbrella of the fifth season of its “Buy Cambodian Campaign” as a measure to prevent the spread of the Covid-19 disease. ...

COVID-19 has affected the Kingdom’s automotive industry severely, with trade dropping nearly 40 percent compared with the previous year. According to the latest import and export statistics for the first nine months of this year, the volume of automobiles and motorcycles exported dropped by 34.1 ...

The government approved three projects worth a total of $13.5 million last week, bringing the total number of projects in the first three weeks of this month to nine with total investment value of $1.1354 billion, the Council for the Development of Cambodia (CDC) said ...

ACLEDA Bank (CSX: ABC)’s standalone credit profile has been upgraded by global ratings agency, Standard & Poor’s (S&P) from ‘bb-’ to ‘bb’ with the bank’s overall credit rating listed as a B+. ...

A senior official from the General Directorate of Rubber at the Ministry of Agriculture has said Cambodia’s rubber exports are expected to reach 340,000 tonnes by end of the year. ...

Ibis Rice Conservation Co Ltd (IBIS Rice) has signed a financing agreement with South Korean-owned Phnom Penh Commercial Bank Plc (PPCBank) to support 1,500 smallholder farmers to grow organic wildlife-friendly jasmine rice, which will help protect endangered species while also earning a premium price for ...

The government has decided to slash customs tariff rates and special tariffs on some imported goods and raw materials in a bid to lift investor sentiment out of the Covid-19 doldrums. Prime Minister Hun Sen on December signed a sub-decree to this end, which will go ...

The General Department of Taxation (GDT) rode out the challenges presented by the Covid-19 pandemic and the downturn in the regional and global economies to reach nearly 95 per cent of its annual revenue collection target as of December 16.​ ...