Effective management of the Covid-19 crisis in Cambodia has led to an increase in the number of government-approved investment projects outside the Kingdom’s special economic zones (SEZ) in the first two months of 2022, with a total capital investment of “more than $2 billion” – a more than threefold increase from the year before, according to a new report from the Ministry of Economy and Finance. Released on April 18, the report said that in the first two months of 2022, the investment situation showed a “slight” improvement, with private investment projects outside of the SEZ approved by the Council…
Author: Hin Pisei
Cambodia and China shared a bilateral trade volume of $2.87343 billion in the first quarter of this year, up by 30.14 per cent from the $2.20788 billion recorded in the same period last year, reflecting overall progress in the resumption of economic activity as Covid-19 pandemic-led pressures ease. In January-March, Cambodian exports to China were to the tune of $321.778 million, down by 2.5 per cent year-on-year from $333.53 million, and imports amounted to $2.55164 billion, up by 36.1 per cent year-on-year from $1.87435 billion, according to data from the General Department of Customs and Excise of Cambodia (GDCE). This…
The Kingdom’s trade volume reached more than $13 billion in the first quarter of this year, an increase of more than nine per cent compared to the same period last year. The Kingdom’s exports also increased by more than 25 per cent. According to the General Department of Customs and Excise (GDCE) under the Ministry of Economy and Finance, Cambodia’s trade volume in the first three months hit $13.1 billion, an increase of 9.1 per cent over the same period in 2021, when $12 billion was recorded. The export volume in the first quarter reached $5.7 billion, an increase of…
The number of companies registered on the government’s online business registration platform, known as Single Portal, had reached over 13,000 since its launch in mid-2020, while more than 1,300 others have submitted their applications pending review. According to the Ministry of Economy and Finance, as of April 11 businesses that had successfully registered on the integrated system totalled 13,154, while 1,305 others are awaiting approval. The ministry said that registering a business through this platform takes eight days. Separately, 9,511 businesses have successfully made reservations to complete the registration process at a later date, while 325 others are under review,…
Over 860,000 people visited various tourist attractions across the Kingdom on the first day of the April 14-16 Khmer New Year holiday, according to Ministry of Tourism figures. The ministry said that of the 862,897 New Year revellers, 8,243 were foreign visitors residing in the country. Kampong Chhnang province received the most visitors at160,740, followed by Battambang at 107,254, Siem Reap at 107,014, Pursat at 83,896, Kampong Cham at 57,430, Prey Veng at 56,002, Kampong Speu at 49,288, the capital at 38,972, and Banteay Meanchey at 37,316. The ministry noted that a large number of people travelled on the first…
The General Department of Customs and Excise of Cambodia (GDCE) collected just over $597 million in revenue in the first quarter of 2022, a decrease of 2.5 per cent year-on-year. Data from GDCE shows that from January to March 2022, the total revenue collected by the department was 2.4286 trillion riel ($597.6 million), which is 23.2 per cent of the annual target set by the Law on Financial Management for 2022. This amount represented a decrease of $15 million dollars – or about 2.5 per cent – compared to the same period in 2021. According to the department, the revenue…
The Council for the Development of Cambodia (CDC) has approved final registration certificates to four non-garment projects with a combined total of nearly $32 million invested in them, that it says is set to create 2,470 jobs. The CDC said on April 11 that its Cambodia Special Economic Zone (SEZ) Board has decided to issue the certificates to four companies, including Covered Bridge Cabinetry Manufacturing Co Ltd for its $8.8 million furniture factory in Preah Sihanouk province’s Cambodian Zhejiang Guoji SEZ and SDJC Steel and Wire (Cambodia) Products Co Ltd for its $1 million electrical equipment and plastics factory in…
Bilateral trade between Cambodia and the US in the first two months of 2022 rose 50.0 per cent year-on-year to $1.781 billion from $1.187 billion, data from the US Census Bureau (USCB) showed on April 11. Cambodia’s exports to the US in January and February totalled $1.7175 billion, up 53 per cent from $1.120 billion while imports from the US fell six per cent to $63.3 million from $67 million a year ago. This resulted in a trade surplus of $1.6541 billion for Cambodia, widening by 57.1 per cent from $1.053 billion from January-February 2021. The increase in exports reflected…
It’s all systems go for the tourism sector, which is ready to receive local and international tourists during the Khmer New Year festival this week after two years of subdued growth, according to the Ministry of Tourism. In a statement on April 7, the ministry urged national and foreign tourism associations and media to organise and publish new tour packages as well as raise cooperation or partnerships with domestic and overseas stakeholders to attract more international tourists. Khmer Angkor Tour Guide Association president Khieu Thy told The Post on April 10 that the number of local tourists making trips during…
Bilateral trade between Cambodia and the UK reached $141.74 million in the first two months of this year, up by 14.3 per cent versus the $123.95 million logged in January-February 2021, according to the General Department of Customs and Excise of Cambodia (GDCE). Over the period, Cambodian exports to the UK amounted to $131.56 million, climbing by 14.6 per cent from $114.81 million, while imports clocked in at $10.18 million, rising by 11.4 per cent from $9.14 million, GDCE data indicate. This means that Cambodia’s trade surplus with the UK in January-February widened nearly 15 per cent to almost $121.4…