Economy and commerce

In an effort to boost bilateral ties between Cambodia and India, Indian Prime Minister Narendra Modi reached out to Prime Minister Hun Sen and held a virtual meeting yesterday, according to a press release issued by the Embassy of India in Phnom Penh. ...

Prime Minister Narendra Modi held a virtual meeting with his Cambodian counterpart Hun Sen on Wednesday where they discussed a wide range of bilateral issues, including capacity building programmes and quick impact projects under the framework of Mekong-Ganga Cooperation. ...

The government yesterday released a financial intervention package of $150 million to revive the tourism sector by financing businesses affected by the Covid-19 pandemic in the last two years. ...

Cambodian economy will grow at 5.1 percent this year and 6.2 percent in 2023, according to the Ministry of Economy and Finance. ...

Cooperation projects under the Belt and Road Initiative (BRI) have provided tangible benefits to Cambodia and the world during the COVID-19 pandemic, a scholar in Cambodia said on Saturday. ...

The International Labour Organization (ILO) estimates that as many as 93% of those who are employed in Cambodia are part of the informal economy, while the share in Myanmar and Indonesia, two other Southeast Asian countries, is as high as 85%. ...

Cambodia exported goods for a total of $7,606 million in the first four months this year, a 32 percent increase over the same period last year, data from the General Department of Customs and Excises showed. ...

The Kingdom’s trade volume reached $17.65 billion in the first four months of this year, up 15.47 per cent versus the $15.28 billion to the same period last year, according to the General Department of Customs and Excise (GDCE).   ...

The Cambodian Rehabilitation and Development Board of the Council for the Development of Cambodia (CRDB / CDC) and Korea International Cooperation Agency (KOICA) held a roundtable dialogue here on May 16 to review request survey of new projects for 2024 in Cambodia. ...

Cambodia and Vietnam have agreed to ensure the sustainability of the value chain to meet trade demands in accordance with the EU-Vietnam Free Trade Agreement (EVFTA), which came into force in July 2020. ...

Green Sea Agriculture Co Ltd spent nearly $70 million in the course of over three years to grow six varieties of mango in Stung Treng province for export to China. ...

IPEF is created to encourage regional economies to “decouple” from the Chinese market by leading them to alternative supply chains, a step that Washington believes will help exclude China from the regional trading and supply systems. ...

In Cambodia, online shopping – typically on smartphones and tablets – is becoming increasingly popular due to its convenience. However, this presents significant issues for less technologically savvy buyers, who may be more vulnerable to scams, especially when shopping on social media. ...

China is willing to deepen pragmatic financial cooperation with regional countries and promote innovative regional cooperation to better grapple with global growth challenges and drive up regional growth, an official said. ...

Mainboard-listed commercial bank ACLEDA Bank Plc’s net profit for the first quarter ended March 31 fell 20 per cent to $35.36 million from $44.10 million last year as a result of widening net impairment loss, interest expense, and general and administrative expenses. ...

Cambodia netted $241.41 million from exports to Canada in the first quarter of 2022, marking an 8.1 per cent rise year-on-year from $223.23 million, and accounting for 98.2 per cent of bilateral trade over the period, according to Customs. ...

The Council for the Development of Cambodia (CDC) has approved four new investment projects with a total capital of $13.9 million. ...

Withdrawal of Everything But Arms (EBA) from Cambodia has evoked mixed reaction from economic experts and labour unions in the country. While economic experts claimed it would not affect badly, labour unions have raised concerns and urged the government to deal with European Union (EU) ...

Cambodia netted more than $516 million from the export of paddy and milled rice in the first four months of 2022, despite uncertainty brought upon by Covid-19 outbreaks in key markets. ...

A major rice husk biomass power plant in southeastern Phnom Penh’s Chbar Ampov district is still on track to be completed and start operations by July, a press release confirmed on May 5.   ...

Cambodia exported 221,138 tonnes of milled rice and 1,648,474 tonnes of un-milled rice, with a total value of $516.21 million in the first four months of 2022, according to a release from the Cambodia Rice Federation (CRF). ...

Prime Minister Hun Sen has met with a number of major US companies who have expressed interest in investing in Cambodia, in a meeting convened by the US-ASEAN Business Council (US-ABC).   ...

The International Multi-Purpose Logistics and Port Centre, principally invested by Kampot Logistics and Port Co Ltd and projected to cost $1.5 billion, has officially broken ground in Bokor town, Kampot province.   ...

The Council for the Development of Cambodia (CDC) has approved six new investment projects with a total investment of more than $150 million. ...