Author: Raksmey Hong
Cambodia has officially updated its national accounts base year from 2000 to 2014, an important step in ensuring the accuracy of its economic statistics and providing a clearer picture of the country’s economic landscape. The change was announced at a dissemination workshop attended by key government officials, international organisations and economic experts at the Sohka Hotel on July 2. In his opening speech, Minister of Planning Bin Trachhey emphasised the update’s importance in ensuring the reliability of the country’s economic data. He noted that, previously, the calculation of gross domestic product (GDP) was based on the year 2000 as a…
The promotion of Cambodia’s first hybrid corn variety (CHM01) promises to revolutionise the local industry in a stride towards enhancing the country’s agricultural landscape. The competitive improvement was unveiled during an international workshop held on June 28, jointly organised by the Korea Program for International Cooperation in Agriculture (KOPIA) Cambodia Center and Kampong Cham’s Provincial Department of Agriculture, Forestry and Fisheries. The workshop, hosted at a prominent hotel in Phnom Penh, gathered around 70 participants, including experts from Cambodia, South Korea and Vietnam. Chan Saruth, undersecretary of state at the agriculture ministry, thanked the KOPIA Center for its cooperation in…
The second France-Cambodia Business Forum is set to attract considerable interest from French investors, with a particular focus on the electricity, agriculture, agro-industrial and health sectors in Cambodia, according to an announcement during a press conference held at the French Embassy to Cambodia on June 28. Ambassador of France to Cambodia Jacques Pellet said that the forum is held every two years, with the first having taken place in 2022. He noted it has already become a crucial event for strengthening bilateral economic ties. “We have indeed received proposals from Cambodia to invest in the power sector, as well as…
Credit Bureau Cambodia (CBC) has successfully collaborated with international credit bureaus, starting with the first cross-border credit report sharing initiative between Cambodia and Singapore, aimed at enhancing financial inclusion and accessibility for Cambodians living and working abroad. This milestone, achieved in partnership with Credit Bureau Singapore (CBS), marks a pivotal step forward in providing Cambodians with better access to credit in new markets, according to CBC’s 2023 annual report, “Leading the Way Towards Financial Inclusion with Innovative Credit Reporting”. On March 8, 2023, CBC and CBS formalised their collaboration during an official signing ceremony at the Park Royal Collection by…
Tomorrow (June 27), Cambodia will celebrate its first national day of micro, small and medium enterprises (MSME Day 2024), a sector that stands at a critical juncture of opportunities and challenges. Prime Minister Hun Manet’s June 25 message for the occasion, to be held under the theme “Better MSME Ecosystem for Better Growth”, highlighted both the potential and the hurdles that MSMEs must navigate to drive sustainable development and economic growth. These enterprises are touted as the backbone of Cambodia’s economy, with the prime minister emphasising their crucial role in achieving its sustainable development goals by 2030. “This sector covers…