Economy and commerce

Cambodian’s will soon be able to make near-instant payments via a new blockchain payment platform being launched under a system called Distributed Ledger Technology (DLT) that will “ultimately undermine the popularity of the US dollar”, according to the Kingdom’s central bank director. ...

It’s hoped 50 percent of Cambodian-made products will be on sale at new 7-Eleven stores, a universally well-known convenience store, when it opens in Cambodia next year. ...

Australian government is studying the new project to help Cambodia’s economy development, trade facilitate and diversification, according to Australian Ambassador to Cambodia. ...

The development of tourism in Mondulkiri province will require continued investment in transportation infrastructure – particularly in the region’s airport – which will play a vital role to service both tourists and light freight, according to a senior official at the ministry. ...

Economic data released this week by the International Monetary Foundation (IMF) shows that the long-lasting effects of five previous pandemics and their economic shocks have much worse effects on the employment prospects for workers with low levels of educational attainment.​​ ...

Trade volume between Cambodia and Japan reached over $586 million in the first quarter of this year, up 4.90 per cent year-on-year, despite the Covid-19-fuelled demand and supply shocks reverberating across the global economy, a report from the Japan External Trade Organisation (Jetro) shows. ...

The Ministry of Commerce and Cambodia Rice Federation (CRF) are continuing working to solve the long-running challenges of the Kingdom’s high cost of electricity and transportation in order to boost the country’s rice industry. ...

The State-run SME (Small and Medium Enterprise) Bank is expected to help lift local productions, supplying domestic demands, officials and key insiders said. ...

Cambodia imported more than 1.2 million tonnes of fertiliser and pesticide in 2019, a year-on-year increase of 9 percent, according to a report from the Ministry of Agriculture, Forestry and Fisheries. ...

Cambodia’s cross border trade with Thailand fell to $1.5 million in the first quarter as the coronavirus hit the global economy and led to closure of dozens of checkpoints. ...

The Council for the Development of Cambodia (CDC) has approved two more investment projects which are expected to create almost 687 jobs for the locals. ...

Credit Bureau Cambodia (CBC) has reported that the total outstanding loans in the first quarter of the year reached about $28.4 billion, up to 26 percent compared with the same period last year. ...

Three new investment projects with a total investment capital of US$7.9 million have received the green light from the Council for the Development of Cambodia (CDC).​ ...

Cambodia exported 186,205 tonnes of cashew nut to foreign markets in the first four months of this year, according to a report from the Ministry of Agriculture, Forestry and Fisheries. ...

China Good Cars Holding Ltd. has unveiled a US$160-million-worth investment project in a parking lot for heavy vehicles in Phnom Penh – aiming to contribute to reducing traffic congestion in the capital. ...

THE President of the Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC) Te Taingpor has requested the SME Bank of Cambodia and participating financial institutions to extend the payment period of the SME Co-Financing Scheme from four to six years and take ...

The state-run Agricultural and Rural Development Bank (ARDB) has called for small and medium enterprises (SMEs) to expand their agriculture-based processing productions and apply for low-interest rate emergency loans. ...

Hyundai Agro (Cambodia) will export fresh vegetables and other fresh ingredient from Cambodia to South Korea by the end of June this year, its managing director said. ...

Bilateral trade between Cambodia and the United States has been valued at $1.678 billion for the first quarter of 2020, representing a 35 percent increase compared with the same time last year, according to trade data from the US Government. ...

The Garment Manufacturers Association (GMAC) in Cambodia has reiterated an appeal to buyers to source their goods from Cambodia as the economic situation becomes worse with nearly 200 factories suspending their operations because of the COVID-19 pandemic. ...

The government’s new $100 million Small and Medium Enterprise Co-Financing Scheme has yet to approve any applications, receiving only some ínquiries pending approval, according to a bank representative. ...

Cambodia’s rice exports to China were 122,094 tonnes (41 percent), to the European Union 97,337 tonnes (32.4 percent), to Asean members 37,428 tonnes (12.5 percent) and to other destinations 43,393 tonnes (14.45 percent). ...

The two-way trade of Cambodia with Vietnam experienced a decrease during the first quarter of the year caused by the global pandemic. However, the trade volume with Thailand remained steady. ...

Revenue at Cambodia’s Angkor Archaeological Park has seen a staggering decline in revenue from April ticket sales, as extreme travel restrictions due to the COVID-19 pandemic decimated the Kingdom’s most famous attraction. ...