Economy and commerce

Cambodia exported $2,941 million worth of garment, footwear and travel products (GFTs) to international markets in the first quarter of 2024, up 20 percent from 2,449 million dollars over the same period last year, said a report released by the Ministry of Commerce on April ...

Cambodia’s trade with other ASEAN countries rose by 18.64 percent to $4.32 billion in the first quarter of this year, a report from the Ministry of Commerce showed. ...

Rising tourism footfalls and strong manufacturing prospects will drive Cambodia’s economy to grow at the rate of 5.8 percent this year and six percent next year, according to the latest edition of the Asian Development Bank’s (ADB) flagship economic report, released yesterday. ...

Amid the rising trend of renewable energy demand and the use of electric vehicles (EVs) in the Kingdom, the Royal Government of Cambodia (RGC) asked businessmen to seize the opportunity by investing in the EV-related industry that comes with a range of benefits for both ...

CHN Energy Investment Group Co. LTD, a state-owned mining and energy company in China, has proposed energy investment focusing on renewable power sources – solar PV and hydropower dams. ...

Cambodia has reported a significant decline in the imports of plastic bags in the first quarter of 2024, thanks to an ongoing plastics-free campaign, said the Environment Ministry’s news release on April 10, 2024. ...

Prime Minister Hun Manet has underlined the key roles and responsibilities of the Trade Policy Advisory Board (TPAB) while presiding over the inaugural launch and first plenary session of the TPAB, held here at the Peace Palace on April 8, 2024. ...

Cambodia’s northwestern province of Battambang, well known as one of the national agricultural hubs, has also developed a considerable industrial economy in recent periods, buoyed by increased private investment in production facilities and public infrastructure upgrades improving connectivity for the region. ...

The Association of Banks in Cambodia (ABC) has committed to further increase the usage of riel through its members’ operations, as the local currency is now increasingly used in cash and digital transactions. ...

The General Department of Customs and Excise (GDCE) of Cambodia said that after a meeting with meat importers, it will be setting more stringent guidelines and conditions for those operating in this sector. ...

The Seventh National Day for the promotion of Khmer products will be celebrated today (April 9), under the theme ‘Sustainable Production and Supply to the Market – One Village, One Product Movement.’ ...

Cambodia is expected to see the graduation from the Least Developed Country (LDC) status in 2029, two years longer than previously scheduled 2027. ...

The Council for the Development of Cambodia (CDC) has approved 173 investment projects worth some $4 billion during the last six months, from September 2023 to February 2024. ...

Cambodia’s economic growth is forecast to strengthen in 2024 with continued moderating inflation, said an ASEAN+3 Macroeconomic Research Office (AMRO)’s regional economic outlook released on Monday. ...

The Royal Government of Cambodia (RGC) wants to transform Preah Sihanouk province into the next Shenzhen by reducing logistics costs, providing an investment incentive package and enhancing the development of human resources to attract investors, said Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of ...

Hong Kong-based Sunwah Group, along with a group of leading investors, have evinced interest to invest in a range of areas including financial technology to smart city development and property and energy to tourism in Cambodia. ...

The construction sector achieved remarkable growth last year with constructed area and investment showing a positive growth. ...

When it came to relief for special taxes (excise), value-added taxes and customs duties on imports – QIPs and SEZs received a disproportionate amount of customs tax relief, said a recent World Bank report. In 2020, QIPs took around 51 percent of total tax exemption, ...

KEAN SVAY, KANDAL PROVINCE, CAMBODIA — Five years ago, Lun Sam Ath took out a $12,000 loan to build a new wooden house and repay a previous loan that she had used to buy a motorbike. ...

The latest SCB EIC report expects ASEAN CLMV nations, including Cambodia, to witness accelerated economic growth in 2024 due to increasing foreign direct investment compared to prior years. ...

The Ministry of Commerce (MoC) is making earnest efforts to reach out to uncharted African markets via the Middle East, while strengthening the existing major markets such as the United States, Canada, the European Union, and countries within the regional comprehensive economic partnership (RCEP). ...

Cambodia leads the growth projection in Southeast Asia in 2024, according to Seasia Stats based on Southeast Asia’s 2024 GDP growth projection from the IMF’s October 2023 Outlook and January 2024 update. ...

Digital technology professionals are in huge demand to meet the current and future job needs, as well as to contribute to economic growth and support the digital transformation process. ...

Cambodia exported 166,451 tons of milled rice in the first quarter (Q1) of 2024, down 5.7 percent from 176,581 tons in the same period last year, a report from the Cambodia Rice Federation (CRF) showed. ...