The Council for the Development of Cambodia (CDC) has approved final registration certificates for four investment projects worth nearly $24 million that are expected to create 2,376 new jobs. A CDC press release issued on June 13 showed that three projects were located in Sihanoukville Special Economic Zone (SSEZ), including Mei An Leatherware (Cambodia) Co Ltd’s $10.5 million bag factory, which plans to deliver 1,000 jobs. The other two SSEZ ventures were Kai Feng Wood Products (Cambodia) Co Ltd’s $6.6 million plywood and plank board factory and Amto Chemical Technology Co Ltd’s $1.7 million glue, paint and ink plant, respectively…
Author: Hin Pisei
Cambodian exports of footwear and related items topped $700 million in the first five months of 2022, representing gains of more than a third from the same period last year, in an upswing expected to continue as international tourism flows return to pre-Covid-19 levels. From January-May, exports of footwear, socks, related products and parts thereof amounted to $702.06 million, up by nearly 35.9 per cent from the $516.73 million recorded in the first five months of 2021. These items accounted for about 7.5 per cent of the total export value for the period, according to the General Department of Customs…
Cambodia exported 25,691 tonnes of milled rice to ASEAN countries in the first five months of this year, up by 17.59 per cent year-on-year, according to the agriculture ministry, as the bloc emerges as a new vibrant market for the Kingdom’s staple grain. There were four ASEAN buyers during the period, with Malaysia coming out on top at 15,120 tonnes or a 58.9 per cent share, followed by Brunei (8,022 tonnes), Singapore (1,549 tonnes) and Vietnam (1,000 tonnes), the Ministry of Agriculture, Forestry and Fisheries reported. Signatures of Asia Co Ltd chairman and CEO Chan Sokheang told The Post on…
More investments from large and high-tech international companies in North America and Europe are expected following a working group meeting between the Cambodia Chamber of Commerce (CCC) and its counterparts in those regions. “Investors in many large companies in North America and Europe have promised to find a suitable opportunity to invest in Cambodia,” said Lim Heng, vice-president of CCC, who has been meeting with delegates in the West since early May. Speaking to The Post via instant messaging on June 9, he said CCC has met with investors and chambers of commerce from the US, Canada and Europe. Among…
Real estate experts welcomed the Residential Property Price Index (RPPI), saying it will help Cambodia control the rise in housing prices to a certain extent and reduce the risk of a crisis in the industry. PropNex Cambodia Real Estate managing director Ann Sothida said transactions and pricing of homes or properties in Cambodia are currently “not clear” and there is no official record. As such, the implementation of RPPI is considered a “good start” as it would serve as a basis for measuring the fluctuation of housing prices in accordance to a standard. In a sense, RPPI would enable the…
The Cambodian insurance sector’s gross written premiums (GWP) for 2021 amounted to $297.6 million, up by just 9.6 per cent from a year earlier, compared to an average annual growth rate of over 23.5 per cent over 2016-2021, according to the Insurance Association of Cambodia (IAC). Of that, general and life insurance premiums came to $57.9 million and $72.8 million, up by 17.5 per cent and 9.7 per cent year-on-year. Micro-insurance premiums, however, dipped by 17.7 per cent to $2.8 million, the IAC reported. As of end-2021, life, micro-, and other non-life insurance policies covered 1.3 million, 0.38 million and…
Two-way trade between Cambodia and South Korea ballooned more than a quarter in the first four months of 2022 compared with the same period last year, in an uptrend observers say will pick up pace after a bilateral free trade agreement (FTA) takes effect, anticipated by the end of the year. From January to April, trade between the two countries totalled $297.96 million, up by 28.0 per cent year-on-year from $232.75 million, according to the General Department of Customs and Excise of Cambodia (GDCE). Cambodian exports amounted to $75.92 million, up by 20.2 per cent year-on-year, and imports were $222.04…
State-owned Credit Guarantee Corporation of Cambodia Plc (CGCC) has issued credit guarantees totalling $45.5 million to 448 businesses, as of May 31. Out of the 448 businesses, 431 are small- and medium-sized enterprises (SME) and 17 are large, while 138 are owned by women. CGCC was established by Sub-Decree No 140/ANKR/BK on September 1, 2020 to support businesses, especially SMEs to enable formal loans by guaranteeing lenders that principal and interest payments will be made. Through its ongoing schemes, CGCC provides credit guarantees on loans disbursed by participating financial institutions (PFI), which include both banks and microfinance institutions (MFI). In…
January to May exports in the “assorted vegetables” category saw a 9.22 per cent year-on-year rise, according to latest agriculture ministry figures, despite unease amongst industry players, who say that few transport options and lack of local agriculture infrastructure have been hindering growth. France accounted for the overwhelming majority of exports at 39.78 tonnes, or 99.9 per cent, followed by New Zealand at 0.04 tonnes, according to data from the Ministry of Agriculture, Forestry and Fisheries. The “assorted vegetables” category consists of cucumber, cabbage, choy sum, broccoli and cauliflower, and excludes popular Cambodian crops such as mung beans, soybeans, rice,…
Cambodia exported 5,558.58 tonnes of peppercorn in the first five months of this year, decreasing by more than 25.5 per cent over the same period of 2021, according to agriculture ministry data. Vietnam was the top destination market for the period, at 5,131.51 tonnes or 92.32 per cent, followed by Germany (355.78 tonnes), Taiwan (21 tonnes), Malaysia (13.64 tonnes), France (10.51 tonnes), Belgium (8.80 tonnes), and the Czech Republic (7.88 tonnes). Next on the list were Japan (2.47 tonnes), Sweden (2.36 tonnes), Canada (1.28 tonnes), the US (0.92 tonnes), India (0.92 tonnes), the UK (0.90 tonnes), Kazakhstan (0.29 tonnes), South…