Economy and commerce

Cambodia generated more than $326 million from the export of rubber latex and wood in the first eight months of this year, according to the Ministry of Agriculture, Forestry and Fisheries’ General Directorate of Rubber. ...

Cambodia and Australia have signed a memorandum of understanding (MoU) on the financing arrangements for an Agri-Food Investment Desk (AFID) at the Council for the Development of Cambodia (CDC), aimed at creating jobs and improving standards in farming. ...

The National Bank of Cambodia (NBC) has introduced a marginal lending facility (MLF) to address the short-term liquidity needs of banking and financial institutions in emergency situation to carry out their business operations. ...

The International Monetary Fund says Cambodia’s gross domestic product (GDP) will grow 2.2 percent this year, down from a previous forecast of 4.2 percent annual growth. GDP was minus 3.1 percent last year after average annual growth of 7 percent in previous years. ...

The World Bank has revised its economic forecast for Cambodia down to 2.2 per cent this year, from a higher expectation of four per cent in April amid a rapid rise in new daily coronavirus infections and deaths, spurred by the more transmissible Delta variant. ...

Ministry of Labor and Vocational Training sets US $194 minimum wage for textile, garment, footwear, travel accessories and bags workers for 2022. ...

$130 million investment project on 144 hectares of land in Koh Tonsay by Try Pheap Koh Tonsay Resort Co., Ltd. held a blessing ceremony to start building operation on the morning of September 27, 2021. ...

Vietnam earned $3.15 billion  from exporting goods to Cambodia in the first eight months of 2021, up 16.7 percent year-on-year. ...

As Cambodia and the rest of the world move to revive tourism, Pan Pacific Hotels Group (PPHG), a member of Singapore-listed UOL Group Ltd, plans to open two developments in the Kingdom over October-December 2023, in Phnom Penh and Siem Reap. ...

The bilateral trade between Cambodia and Thailand was valued at $5,238 million in the first eight months of this year, inching up 3.14 percent compared with the same period last year. ...

The SERC – established under the Preah Reach Kram No. NS/RKM/1007/028 on October 19, 2007 that promulgates the Law on the Issuance and Trading of Non-Government Securities – is the sole authority that controls and supervises the securities sector. ...

Koh Kong blue mussels are now available at Makro Supermarket in western Phnom Penh’s Sen Sok district, after a deal was struck with local communities in an effort to boost incomes and support the conservation of mangroves, according to a senior Ministry of Environment official. ...

The National Bank of Cambodia held five currency auctions from September 2-21 and sold $130 million on the foreign exchange (forex) market, meant to stabilise the riel’s fluctuations against the greenback, shore up economic activity during the ongoing health crisis and power a faster economic ...

The bilateral trade between Cambodia and South Korea surged 11.33 percent to $635.5 million during the first eight months of this year, as the two countries set to sign their free trade pact next month. ...

Indonesia’s ambassador to Cambodia says a new chamber of commerce will help his country find more business opportunities in the Kingdom and boost bilateral trade. The Indonesia Chamber of Commerce Cambodia (IndoCham) was formed this month. ...

Minister of Commerce Pan Sorasak reiterated a called for businesspeople to fulfil their obligations to protect consumers in accordance with the laws and regulations in force and contribute to the shared overarching objectives of harmonisation and sustainable development. ...

HGB Motors Assembly Co Ltd is investing about $7 million in a car assembly plant in Poipet town, Banteay Meanchey province. ...

The Ministry of Commerce plans to integrate state-owned Cambodia Post’s transportation system into CambodiaTrade.com, looking to make the distribution and delivery process easier, faster and safer for small- and medium-sized enterprises (SME) and consumers that buy merchandise on the e-marketplace. ...

Three new projects with a total capital of $15.1 million have been approved by the Council for the Development of Cambodia (CDC). This continues to give confidence to job seekers that though loss of employment because of the pandemic forcing many industries to cut workforce, ...

The Cambodia Pepper and Spices Federation (CPSF), in collaboration with USAID-funded Feed the Future Cambodia Harvest II project (Harvest II), on September 20 virtually launched the “Export Mission to the Middle East and North Africa” programme. ...

Cambodia’s economy is forecast to experience a rebound of 5.5 percent in 2022 despite a modest reduced  1.9 percent growth is forecasted this year amid the prolonged coronavirus pandemic, according to the Asian Development Bank (ADB). ...

Credit Guarantee Corporation of Cambodia (CGCC) announce the launch of the Co-Financing Guarantee Scheme (CFGS). CFGS is specifically designed for the co-financing loans disbursed under the SMEs Co-Financing Scheme Phase II (SCFS II) of the SME Bank of Cambodia. ...

The new investment law will be more attractive and provide the Kingdom with better options to navigate the constantly evolving regional and global investment climate, according to Senate Third Committee chairman Mong Reththy.​ ...

The senate on September 20 unanimously passed (38-0) two draft laws authorising the ratification of the Regional Comprehensive Economic Partnership (RCEP) agreement and the bilateral Cambodia-China Free Trade Agreement (CCFTA). ...