The economy, investment, trade and the companies building Cambodia. · 906 articles
Australian Ambassador Justin Whyatt recently lauded Cambodia for its proactive approach in drawing international investment, expressing particular enthusiasm for the ‘Funan Techo Canal’ project, which he anticipates will stand as a landmark development for Cambodia. During a visit to Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of…
Vietnam has notably risen to become Cambodia’s second-largest trading partner at the outset of 2024, showcasing a significant leap in bilateral trade. According to the General Department of Customs and Excise (GDCE), the exchange of goods between the two neighboring countries exceeded $670 million in January 2024 alone, marking a 41.5% increase from the previous…
In 2023, the microfinance industry played a crucial role in supporting economic activities by extending a collective $5.12 billion in loans to approximately 1.57 million clients, with an average loan value of $3,260 per client. This significant financial contribution not only facilitated the growth of numerous small-scale businesses but also generated 21,567 direct job opportunities…
The Cambodian government is laying the groundwork for the establishment of specialized economic zones focused on Japan, aiming to bolster direct investments from the Asian powerhouse. In a strategic move to fortify economic ties, an inter-ministerial meeting was convened on Monday, spearheaded by Deputy Prime Minister Sun Chanthol, to deliberate on the conceptual framework for…
Wing Bank (Cambodia) Plc is revolutionizing the financial landscape with the introduction of Wingcoin, a pioneering blockchain-based rewards program designed to enhance the purchasing capabilities of its users. Through every transaction made using the Wing Bank App, users can now accumulate ‘Wingcoins,’ unlocking new dimensions of savings and spending. With Wingcoin, each transaction is not…
Cambodia’s international trade witnessed a significant rise in January 2024, with total trade volume reaching $4.05 billion, marking a 16.7% increase from $3.47 billion recorded in the same month the previous year. This growth is detailed in a report released by the General Department of Customs and Excise on February 12, 2024. The report highlights…
The Securities and Exchange Regulator of Cambodia (SERC) has recently introduced the ‘Guideline on Reporting Forms for Fund Management Companies (FMCs),’ aiming to invigorate the Collective Investment Scheme (CIS) sector by standardizing reporting procedures. This move is anticipated to bolster FMC activities within Cambodia’s financial landscape, ensuring a systematic approach to fulfilling reporting obligations. The…
Australia is setting ambitious goals to increase its trade interactions with the Association of Southeast Asian Nations (ASEAN), aiming to significantly augment its current $187 billion trade volume. This move comes as Australian leaders gear up for the upcoming ASEAN-Australia Special Summit scheduled to be held in Melbourne. The spotlight is on the potential to…
On February 7, 2024, the Ministry of Foreign Affairs and International Cooperation of Cambodia and the Federal Public Service of Foreign Affairs, Foreign Trade, and Development Cooperation of Belgium held their first-ever Bilateral Political Consultations. The session, hosted at the Cambodian Ministry, was led by His Excellency Dr. CHEM Widhya, Secretary of State of Cambodia,…
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…
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…
