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The Agricultural and Rural Development Bank (ARDB) has announced a substantial allocation of $100 million to a government-led special financing scheme. This initiative, aimed at the agricultural sector, is designed to ensure the stability of crop prices during the upcoming harvest season. Kao Thach, ARDB’s CEO, shared insights into the program, which was deliberated in…
The American University of Phnom Penh (AUPP) has unveiled the ARC Start-up Accelerator at its Technology Centre (ATC), marking a significant stride towards nurturing Cambodia’s entrepreneurial ecosystem. The launch event, graced by Dr. Chea Vandeth, Minister of Posts and Telecommunications, showcased the accelerator established in collaboration with Red Team Partners Global and ChainsAtlast Pte Ltd.…
The Council for the Development of Cambodia (CDC) has given the green light to a British proposal for the creation of a ‘Green Special Economic Zone’ (SEZ) in Cambodia. This approval was granted during a meeting on Monday between Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the CDC, and a UK delegation led…
The Asian Development Bank (ADB) reaffirmed its commitment to Cambodia’s renewable energy initiatives, particularly the development of the ASEAN Power Grid (APG), during a meeting with Keo Rattanak, Cambodia’s Minister of Mines and Energy. This support is in line with enhancing green energy security across the ASEAN region. ADB’s Executive Director, Rachel Thompson, lauded Cambodia’s…
On February 6, 2024, a significant meeting took place at the Ministry of Foreign Affairs and International Cooperation in Cambodia, marking another step forward in the diplomatic relations between Cambodia and Brunei. Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, His Excellency SOK Chenda Sophea, engaged in fruitful discussions with His Excellency…
The commerce exchange between Cambodia and the other 14 nations within the Regional Comprehensive Economic Partnership (RCEP) has seen a significant upswing, with figures nearing the $30 billion mark for the year 2023, as reported by Cambodia’s Ministry of Commerce. This remarkable growth highlights the burgeoning trade dynamics within the Asia-Pacific’s largest trading bloc. In…
The Korea Trade-Investment Promotion Agency (KOTRA) is gearing up to host a significant forum aimed at bolstering investment ties between South Korea and Cambodia. This initiative is strategically designed to enlighten Korean entrepreneurs and investors about the burgeoning opportunities and favorable business environment within the Cambodian market, coinciding with the activation of a bilateral free…
The trade relationship between Cambodia and Indonesia saw significant growth in 2023, as Indonesia climbed to become Cambodia’s sixth-largest trading partner. According to data from the General Department of Customs and Excise (GDCE), the trade volume between the two nations escalated to nearly $1.1 billion, reflecting an increase of almost 15% over the previous year.…
The Ministry of Labour and Vocational Training (MLVT) of Cambodia announced yesterday that workers from an additional 11 garment, footwear, and travel goods (GFT) factories will receive financial assistance following the suspension of their labor contracts in December of the previous year. This decision comes as a response to the decreased global demand for GFT…
In a significant development for Cambodia’s economic sector, the Foreign Trade Bank of Cambodia (FTB) has aligned with the Asian Development Bank (ADB) through the Trade and Supply Chain Finance Program (TSCFP). This partnership, finalized on Tuesday in Phnom Penh, aims to enhance trade finance opportunities for Cambodia’s micro, small, and medium-sized enterprises (MSMEs). The…
In the final quarter of 2023, Cambodia’s insurance market demonstrated resilience, with a slight adjustment in premiums, reporting a total of $77.8 million, a marginal decrease of 0.07 percent from the previous year’s corresponding period. The Insurance Regulator of Cambodia (IRC) provided these insights, highlighting nuanced shifts across various insurance categories. General insurance saw a…
In an upcoming meeting in Bangkok, the Prime Ministers of Cambodia and Thailand will explore avenues to enhance bilateral trade, streamline border goods transportation, and dismantle existing trade barriers. Despite a 17 percent decline in trade turnover to $3.71 billion in 2023 from $4.47 billion in 2022, Thailand remains Cambodia’s second-largest trading partner within ASEAN,…
The influx of international visitors to Cambodia showed a promising rise in January 2024, with the General Department of Immigration reporting a 4.60% increase from the previous month. The Ministry of Interior disclosed that the nation welcomed close to 700,000 foreign guests, engaging in various activities ranging from tourism to investment. Keo Vanthan, the deputy…
