CAMBODIA’S TOURISM SECTOR HAS GROWN SIGNIFICANTLY AND SERVES AS A VITAL PILLAR OF THE COUNTRY’S ECONOMY
The Covid-19 pandemic has had an unprecedented impact on Cambodia’s tourism sector however, it was handled well with the proactive efforts of the government and the timely introduction of socio-economic development policies, a top tourism official has said. Speaking at…
Read moreCAMBODIA HAS AN INCREASE IN FINANCIAL INCLUSION AMONG FASTEST IN REGION
The World Bank says Cambodia has one of the fastest increases in financial inclusion among developing economies in East Asia and the Pacific. In the latest Global Findex Database released in Washington Wednesday, the bank said 76 percent of people…
Read moreCAMBODIA’S ECONOMY – WHAT TO WATCH FOR IN 2022
Prior to the Covid-19 pandemic, Cambodia was a world leader in economic growth and poverty reduction. It sustained an average growth rate of 7.7% between 1995 and 2019, raising its per capita income from $323 in 1995 to $1,621 in 2019, and…
Read moreOPPORTUNITIES IN 2022 FOR CAMBODIA EVEN THOUGH THERE ARE RISKS WITH OMICRON SPREADS
Business leaders in Cambodia say there are plenty of opportunities for growth this year due to increased online transactions, the opportunity to collect and monetise the data gleaned from a growing digital economy, incentives provided by the new investment law,…
Read moreTHE CAMBODIAN GOVERNMENT IS WORKING TO TRANSFORM SIHANOUKVILLE PROVINCE INTO A MULTI-PURPOSE SPECIAL ECONOMIC ZONE (SEZ)
On June 9, 2021, Cambodian Prime Minister Hun Sen signed a sub-decree that will make Sihanoukville province a multi-purpose SEZ. The designation stands to give Sihanoukville province more latitude in structuring development initiatives and investment incentives into a wider array…
Read moreCAMBODIA’S AGRICULTURAL EXPORTS IN THE FIRST 10 MONTHS OF 2021 WAS VALUED AT MORE THAN $4BILLION
Estimated value of Cambodia’s agricultural exports (excluding fishery products, animal and forest products and rubber wood) to an estimated 68 countries in the first 10 months of 2021 was valued at more than $4billion. According to a report from Veng…
Read moreTRADE BETWEEN CAMBODIA AND THE US IS UP 17.89 PER CENT OVER 2019, DATA FROM THE US CENSUS BUREAU SHOW
Bilateral trade between Cambodia and the US amounted to $614.5 million in the first month of this year, up 4.89 per cent over the $585.8 million posted in January 2020, data from the US Census Bureau show. The Kingdom exported…
Read moreTHE JAPANESE GOVERNMENT WILL ASSIST CAMBODIA IN SETTING UP AN AUTOMATED CUSTOMS CLEARANCE SYSTEM
The Japanese government will assist the Cambodian General Department of Customs and Excise of Cambodia (GDCE) in setting up an automated customs clearance system that will speed up cargo clearance time, alleviating congestion problems that slow the process. The GDCE…
Read more“NATIONAL CASSAVA POLICY” (NCP) TO BOOST DOMESTIC PRODUCTION, PROCESSING AND COMMERCIALISATION FOR EXPORT
The Kingdom has officially launched a “National Cassava Policy” (NCP) to boost domestic production, processing and commercialisation for export to international markets in line with the government’s Industrial Development Policy for 2015-2025. The NCP is a joint effort by the…
Read moreTHE NEW “INVESTMENT LAW” IS MORE PREFERENTIAL AND ATTRACTIVE, FOCUSING ON PROTECTING THE RIGHTS AND INTERESTS OF INVESTORS
The Secretary-General of the Cambodia Development Council (CDC) Sok Chenda Sophea has held a meeting, to solicit opinions from all parties and improve the draft content of the new Investment Law. Permanent Secretary of State of the Ministry of Finance…
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