Economy and commerce
Indonesia plans rice imports from Cambodia to boost government stocks
Indonesia’s state food procurement firm, Bulog, is looking to import rice from Cambodia and Myanmar to bolster government stocks as the country braces for potential disruptions in rice output due to the El Nino weather pattern. ...
Khmer Times Staff
https://www.khmertimeskh.com/501346993/indonesia-plans-rice-imports-from-cambodia-to-boost-government-stocks/
Cambodia benefits from zero tariffs in RCEP trade deal, sees surge in exports
Cambodia’s exports to the Regional Comprehensive Economic Partnership (RCEP) countries reached $4.59 billion in the first seven months of this year, marking a significant 21% growth compared to the same period last year, according to data from the Ministry of Commerce. The boost in exports ...
Khmer Times Staff
https://www.khmertimeskh.com/501346937/cambodia-benefits-from-zero-tariffs-in-rcep-trade-deal-sees-surge-in-exports/
King hopes new gov’t will boost economic growth
The new Royal Government under the leadership of Prime Minister Hun Manet will continue to boost the national economic growth, improve the living standard of the citizens and commit to developing and strengthening the social protection system, said King Norodom Sihamoni. ...
Nhean Chamrong
https://www.khmertimeskh.com/501346713/king-hopes-new-govt-will-boost-economic-growth/
‘White rice’ price soars amid India suspension
Rice exporters and millers in Cambodia say the price of white rice is soaring after India suspended exports of non-basmati rice in order to address internal food security issues following the falling yield of paddy rice due to climate change. ...
May Kunmakara
https://www.phnompenhpost.com/business/white-rice-price-soars-amid-india-suspension
Cambodia still faces challenges in domestic production for export
Cambodia continues to face unique challenges for diversifying goods and boosting domestic production for export. ...
Khmer Times Staff
https://www.khmertimeskh.com/501345279/cambodia-still-faces-challenges-in-domestic-production-for-export/
Kingdom’s raw cashew output down nearly 16%
The Kingdom’s raw cashew production in the first seven months of the year reached only 620,000 tonnes, a decline of 15.9 percent compared to the same period last year while Vietnam remained the top buyer, importing around 95.32 percent of all raw cashew produced in ...
Nhean Chamrong
https://www.khmertimeskh.com/501346158/kingdoms-raw-cashew-output-down-nearly-16/
Factory demand soars in 2023, despite slower overall investment
Demand for industrial property in 2023 is rising compared to 2022, said Stephen Suen, long-time commercial and industrial property expert and co-owner-operator of Yi Fung Real Estate Services in Phnom Penh since 2015. ...
James Whitehead
https://www.khmertimeskh.com/501344749/factory-demand-soars-in-2023-despite-slower-overall-investment/
Rubber article exports go up by 43%
Cambodia earned $385 million from the exports of rubber and rubber articles in the first seven months of the year, recording an increase of 43 percent compared to the same period last year, showed the latest trade data of the General Department of Customs and ...
Manoj Mathew
https://www.khmertimeskh.com/501346157/rubber-article-exports-go-up-by-43/
Exports through SEZs up by $1.39 billion in H1
Cambodia’s export through Special Economic Zones (SEZs), mostly non-garment manufacturing products, reported growth in the first six months of this year. ...
Chea Vanyuth
https://www.khmertimeskh.com/501346089/exports-through-sezs-up-by-1-39-billion-in-h1/
Credit guarantees to SMEs reach nearly $140 million
The Credit Guarantee Corporation of Cambodia (CGCC) provided credit guarantees of $139.5 million to businesses for their working capital expansion as of July 2023. ...
Chea Vanyuth
https://www.khmertimeskh.com/501346090/credit-guarantees-to-smes-reach-nearly-140-million/
Preah Sihanouk, Thai delegation discuss investment potential
Preah Sihanouk Provincial Administration received a delegation from the Thai Enterprise Development Division to discuss investment potential in the province. ...
Khmer Times Staff
https://www.khmertimeskh.com/501345427/preah-sihanouk-thai-delegation-discuss-investment-potential/
Thailand’s PTT Oil plans aviation fuel depot
Public-listed Thai conglomerate PTT Oil and Retail (OR) will be investing $100 million to develop an oil depot for aviation refuelling at Techo International Airport (TIA), Phnom Penh’s new airport, where first phase operation is scheduled in mid 2024. ...
May Kunmakara
https://www.phnompenhpost.com/author/may-kunmakara/17732
ASEAN economic ministers ‘optimistic’
Geopolitical tensions could disrupt international trade and supply chain links, blocking efficiency gains derived from globalisation, ASEAN economic ministers (AEM) said at their 55th regional meeting. ...
Ry Sochan
https://www.phnompenhpost.com/national/asean-economic-ministers-optimistic
Cambodia, Laos launch KHQR-LAOQR cross-border payments
The National Bank of Cambodia (NBC) and Bank of the Lao PDR (BOL) on Friday launched the cross-border payment via QR Code in Laos in the first phase, said a statement. ...
Kang Sothear
https://www.khmertimeskh.com/501345965/cambodia-laos-launch-khqr-laoqr-cross-border-payments/
Exports to Vietnam grow to $1.6B in first 7 months
Exports from Cambodia to Vietnam have recorded steady growth, rising 20.6 per cent year-on-year to $1.6 billion in the first seven months of 2023 from $1.3 billion, although trade balance dipped one per cent to $3.8 billion from the year prior. ...
Hin Pisei
https://www.phnompenhpost.com/business/exports-vietnam-grow-16b-first-7-months
Cambodia-India ties strengthening
Ambassador Devyani Khobragade highlighted the increased business interactions aimed at bolstering bilateral trade. ...
Samban Chandara
https://www.phnompenhpost.com/national/cambodia-india-ties-strengthening
Tax revenue of $2.3b meets nearly 65% of GDT target
The continuous reform of tax procedures and understanding taxpayers have helped the tax revenue increase steadily, industry observers say. ...
Hin Pisei
https://www.phnompenhpost.com/business/tax-revenue-23b-meets-nearly-65-gdt-target
GDT raises taxes on non-alcoholic beverages
The General Department of Taxation (GDT) has announced new tax rates on locally-produced, non-alcoholic beverage products, according to the Ministry of Economy and Finance (MEF). ...
Mon Sokeo
https://kiripost.com/stories/gdt-raises-taxes-on-non-alcoholic-beverages
Kampong Speu anticipates business boom, 25 factories
Kampong Speu is gearing up for a business boom, with the provincial administration recently revealing plans to set up 25 new factories and enterprises later this year. ...
Kim Yutharo
https://www.phnompenhpost.com/business/kampong-speu-anticipates-business-boom-25-factories
Cambodian apparel, knitted & non-knitted items exports fall
Cambodia exported apparel items, clothing accessories and knitted and non-knitted or crocheted items worth $4.5 billion in the first seven months this year—down by 20.6 per cent year on year from $5.6 billion. ...
Khmer Times Staff
https://www.khmertimeskh.com/501344357/cambodian-apparel-knitted-non-knitted-items-exports-fall/
Chinese firm to pump in $12.7B to Cambodia’s agri sector
The Chinese state-owned firm Danong Agricultural Development Group plans to invest $12.7 billion in Cambodia to transform the latter’s agriculture into digital smart agriculture, stock and regional transit hub for agricultural products that will produce different agricultural products to the Chinese market, said an official ...
Kang Sothear
https://www.khmertimeskh.com/501343619/chinese-firm-to-pump-in-12-7b-to-cambodias-agri-sector/
Investment opportunities in Cambodia unveiled
Top officials of Cambodia’s highest decision-making body for private and public investments on Friday presented key potential opportunities and challenges for investment in the country to Cambodian tycoons and foreign businesspeople. ...
Kang Sothear
https://www.khmertimeskh.com/501342478/investment-opportunities-in-cambodia-unveiled/
Cambodia pushes for investment hub status in ASEAN
Investment-friendly tax and investment laws and incentives, as well as the industrial development policy, are geared towards making Cambodia an investment hub and centre for automotive and electronics manufacturing in Southeast Asia. ...
Sangeetha Amarthalingam
https://kiripost.com/stories/cambodia-pushes-for-investment-hub-status-in-asean
Stimulating FDI to strengthen Cambodia’s economy
Despites the ongoing Covid-19 crisis and geopolitical tensions, foreign direct investment (FDI) inflows to Cambodia remain stable, attracting $3.6 billion last year, a senior official said on Friday. ...
Prak Chan Thul
https://kiripost.com/stories/stimulating-fdi-to-strengthen-cambodias-economy