In an exciting development for Cambodia’s sustainable energy ambitions, renowned French firm, The Blue Circle, celebrated for its pioneering contributions to wind power generation, is poised to make substantial investments in Cambodia’s burgeoning wind energy sector. Recognizing the nation’s immense potential in renewable energy, The Blue Circle’s strategic vision aligns perfectly with Cambodia’s commitment to…
Cambodia and China have solidified their commitment to a monumental partnership, marked by the signing of a Memorandum of Understanding (MoU) to invest a staggering $1 billion (€910 million) in collaborative rubber and tire projects. The Cambodia Development Council (CDC) has officially announced this groundbreaking agreement, underscoring the potential for economic development and technological advancement…
Cambodia’s Taxi Industry: A Path of Steady Growth In recent years, Cambodia has witnessed a remarkable growth in its taxi market, a sector that not only contributes significantly to the economy but also represents a vital element of the country’s urban transportation system. In 2024, the taxi market in Cambodia is projected to reach an…
Cart Tire, a Chinese car tire manufacturer, is planning to increase its investment in Cambodia to approximately $700 million to boost production capacity and expand exports to international markets. The Council for the Development of Cambodia (CDC) reported that Cart Tire Co Ltd is establishing a factory in Svay Rieng province, making it the first…
Cathay United Bank, a Taipei-based bank, has been significantly expanding its presence in Cambodia over the past decade. Aligned with its parent group’s objectives, the bank has been actively promoting consumer banking in the Southeast Asian country, particularly through digital finance solutions, in order to enhance the overall customer experience. Since the launch of the…
The Council for the Development of Cambodia (CDC) reported that the country attracted fixed-asset investment of $4.92 billion in 2023, marking a 22% increase from $4.03 billion in the previous year. Recent CDC figures indicate that Cambodia granted approval for 268 international investment projects in 2023, expected to generate up to 307,000 job opportunities. The…
Cambodia has seen a significant increase in its rubber exports, with earnings reaching $789.75 million in the January to November period of 2023, according to the latest trade data from the General Department of Customs and Excise (GDCE). This marks a remarkable growth of 74.5 percent compared to the same period in the previous year…
In the first eleven months of 2023, Cambodia exported goods worth $8,144 million to the US, a decrease of 0.89 percent compared to the same period in 2022, according to a report from the Ministry of Commerce. Despite this slight decline, shipments to the US still accounted for 38.25 percent of Cambodia’s total export volume…
In October 2020, the National Bank of Cambodia (NBC) made a groundbreaking decision to adopt blockchain technology as the foundation for its revolutionary Bakong system. Since then, Bakong has witnessed remarkable success, capturing nearly 60 percent of the country’s population with almost 10 million accounts. According to Muniswamy Kishore Kumar, Head of IT Department and…
The Cambodian Ambassador to Korea, Chring Botumrangsay, recently shared optimistic insights on the flourishing bilateral relations between Cambodia and Korea. Addressing a business investment event in Seoul, she emphasized the robust economic synergy between the two nations. In her opening remarks at the 2nd Korea-Cambodia Business and Investment Forum, Ambassador Botumrangsay highlighted Korea’s commitment to…
Partnership aims to drive financing for climate-friendly projects and facilitate Cambodia’s transition to a green economy The National Bank of Cambodia (NBC) and the International Finance Corporation (IFC) have entered into a cooperation agreement to enhance the availability of funding for climate-friendly initiatives and support Cambodia’s shift toward a sustainable, green economy. This partnership, detailed…
In an effort to contribute to poverty reduction and sustainable national economic growth, Prime Minister Dr. Hun Manet has called upon all banking sectors in Cambodia to explore the possibility of offering comprehensive services. These remarks were made during the official inauguration ceremony of the Wing Tower, the central head office of Wing Bank, on…
In an effort to deepen cooperation in trade and investment, Cambodia and Japan will hold a bilateral summit meeting. The talks will be co-chaired by Prime Minister of Cambodia, Hun Manet, and Japanese Prime Minister, Kishida Fumio. The meeting is taking place on the sidelines of the Commemorative Summit for the 50th Year of ASEAN-Japan…
