Cambodia’s GFT Exports See Strong Growth in 2024

date_range 29-Jan-2025
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Phnom Penh, January 28, 2025 --Cambodia exported a total of US$13.92 billion worth of garment, footwear, and travel goods (GFT) in 2024, a significant increase of 23 percent compared to 2023, according to a report from the Ministry of Commerce.The report said that the garment export was valued at US$9.79 billion last year, a year-on-year increase of 24 percent.Footwear export rose by 23 percent from US$1.68 billion, while travel goods export jumped by 19.6 percent to US$1.95 billion, stated the same source.H.E. Penn Sovicheat, Secretary of State and Spokesperson at the Ministry of Commerce, attributed this growth to a rise in global demand for apparel and textile.“This GFT industry has received purchase orders, showing the quality of our products which meets the demand in the foreign market,” he said.The garment, footwear and travel goods industry is the Kingdom’s largest foreign exchange earner. The sector currently consists of roughly 1,538 factories and branches, employing nearly 913,000 workers, mostly female, according to the Ministry of Labour and Vocational Training’s latest report.

Cambodia’s Ports See Growth in Container Throughput Last Year

date_range 28-Jan-2025
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Phnom Penh, January 27, 2025 --Cambodia's two state-owned ports, Sihanoukville Autonomous Port (PAS) and Phnom Penh Autonomous Port (PPAP), saw a remarkable growth in revenue in 2024, according to an annual report of the Ministry of Public Works and Transport.PAS handled 9.60 million tonnes of containerised cargo tonnage last year, an increase of 21.67 percent compared to 2023, which had in total 7.89 million tonnes, stated the source.The report added that PAS saw its net profit increase by 24.12 percent to about US$110.38 million from US$88.94 million in 2023.The freshwater port, the country's second largest port, recorded a total of 4.51 million tonnes of containerised cargo tonnage and earned a revenue of US$43 million, an increase of 16.6 percent from US$37.27 million in 2023, it pointed out.Cambodia’s PAS and PPAP play important roles in the transport of the country’s import-export cargos.H.E. Phorn Rim, the ministry's spokesperson, credited the nation's strong economic performance to the notable increase in port revenue and container throughput.He said that the rise in ports' container throughput and revenue reflected the country's growing import and export flow as well as an increase in economic activity that supported the economic growth.The Royal Government of Cambodia has been expanding port capacity to accommodate large ships and meet the growing demand for import-export activities, which are seen as key drivers of sustainable economic growth, as these two major ports serve as important gateways for international trade and contribute to Cambodia's integration into global markets.

Japan Provides Almost US$200,000 to Support Primary Education in two Provinces

date_range 27-Jan-2025
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Phnom Penh, January 27, 2025 -- The Government of Japan has provided US$192, 509 to build two primary schools in Pursat and Banteay Meanchey provinces under the framework, the Grant Assistance for Grassroots Human Security Projects, KUSANONE.The Grant Contracts were signed here late last week between H.E. Ueno Atsushi, Ambassador of the Embassy of Japan in the Kingdom of Cambodia, and representatives of the recipient organisations.According to the embassy’s press release, “The Project for the Construction of Kul Totoeung Primary School Building in Phnom Krovagn District, Pursat Province” will be implemented by Lutheran Hope Cambodia Organisation, and “The Project for the Construction of Phoum Thmey Primary School Building in O’ Chrov District, Banteay Meanchey Province” will be carried out by Banteay Meanchey Provincial Department of Education, Youth and Sports.H.E. Ambassador expressed his expectation that this grant will contribute to the improvement of educational environment in Cambodia.

Women’s Business Council of the Philippines Explore Business and Investment Opportunities in Cambodia

date_range 22-Jan-2025
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Phnom Penh, January 22, 2025 --A group of businesswomen from the Philippines is exploring business and investment opportunities in the Kingdom.This morning at the Peace Palace in Phnom Penh, the delegation of Women’s Business Council of the Philippines, led by its Chairperson Ms. Rosemarie P. Rafael, was received by Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia.According to the Spokesperson for the Prime Minister, during the courtesy meeting, Ms. Rosemarie P. Rafael said that the delegation, composed of 35 Filipino women leaders and businesspersons, would participate in a business forum jointly organised by the Women's Business Council of the Philippines and the Ministry of Commerce of Cambodia.On the occasion, the delegation expressed interest in investing in several key sectors in Cambodia, including agriculture (rice industry), aviation, tourism, automotive, education, healthcare, transport and logistics, retail, and manufacturing. Additionally, they showed interest in seeking collaboration with Cambodian women entrepreneurs, particularly in areas such as vocational upskilling, exchanging experiences and best practices, and capacity building.In response, Samdech Borvor Thipadei Hun Manet highly valued the council’s activities in promoting the role of women in business. He welcomed the council’s interest in exploring investment and trade opportunities in Cambodia and expressed his delight at the organisation of the upcoming business forum in Cambodia, as well as the planned forum in the Philippines in the future.The Premier emphasised that these forums would help bridge businesspersons or investors from both countries and create more investment opportunities.Samdech Borvor Thipadei further added that the Royal Government of Cambodia has always prioritised the success of the private sector by implementing supportive policies and incentive measures to encourage investment and business activities in Cambodia.The Prime Minister also highlighted that, in Cambodia, women’s roles in the business sector have made a remarkable progress, and the country’s socio-economic development can only advance with the participation of multiple sectors to ensure and foster the drive of national economic growth.

Pakistan to Promote Trade and Investment with Cambodia

date_range 21-Jan-2025
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Phnom Penh, January 20, 2025 —Visiting Federal Minister for Commerce of Pakistan H.E. Jam Kamal Khan reaffirmed his country’s commitment to promote trade and investment with Cambodia.H.E. Jam Kamal Khan made the affirmation when he paid a courtesy call on Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of Cambodia, at the Senate Palace here this morning.For his part, Samdech Techo Hun Sen expressed his warm welcome to the Pakistani delegation and briefed them on the current situation of the Cambodia.The Senate President also highlighted the current relationship between Cambodia and Pakistan, the foundation to further enhance the relations and cooperation between the two countries.

Chinese Firm Mulls More Investment in Cambodia's Mine Extraction

date_range 17-Jan-2025
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Phnom Penh, January 17, 2025--Beijing Endi (Group) Co., Ltd. of the People's Republic of China is interested in expanding its investment in Cambodia's mine extraction and establishing a technical skill training institute for Cambodian mine workers.The intention was revealed by Mr. Tang Changzhong, Chairman of Beijing Endi, during a meeting with H.E. Chea Vuthy, Secretary General of the Cambodian Investment Board of the Council for the Development of Cambodia (CDC) in Phnom Penh on Jan. 15.H.E. Chea Vuthy spoke highly of the growing relations between Cambodia and China as well as increasing Chinese investments in Cambodia.The secretary general welcomed more investment by Beijing Endi, acknowledging the group's efforts in training Cambodia's mine human resources.Cambodia has favourable conditions for investment in all sectors and welcomes all foreign investment in the country, he added.

Cambodia, Myanmar Accelerate DTA Negotiations to Promote Trade and Investment

date_range 17-Jan-2025
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Phnom Penh, January 17, 2025 --Cambodia’s General Department of Taxation (GDT) and Myanmar’s General Department of Internal Revenue have accelerated talks on negotiations on Double Taxation Agreement aimed to promote trade and investment.A GDT delegation led by Mr. Seng Cheaseth, Director of Legislation, Tax Policy, and International Tax Cooperation, held from Jan. 13 to 15 a virtual meeting for the second round of discussions on the agreement with the Myanmar side headed by Mrs. KHIN Yamon Aung, Deputy Director General of Internal Revenue, Myanmar’s Ministry of Planning and Finance.In the meeting, Mr. Seng Cheaseth highly appreciated the efforts of the Myanmar side in preparing for the second round of DTA negotiations.“This DTA agreement will be a driving force in promoting improved trade and investment relations between Cambodia and Myanmar,” he said.The two sides discussed in detail and in-depth all the remaining articles and points that were not agreed upon in the first round. They resolved all the remaining issues, with all 31 articles of the agreement being fully agreed upon.The two-way trade between the two ASEAN countries remains flat with a total volume of US$31 million in the first 11 months of 2024, according to a report from the Ministry of Commerce.The Royal Government of Cambodia is working to enhance the country’s investment climate by negotiating DTAs with a number of countries in the region and Europe.Cambodia has implemented DTAs with Singapore, China, Thailand, Brunei, Vietnam, Indonesia, China’s Hong Kong Special Administrative Region, Malaysia and South Korea.

NBC Governor Holds Talks with CEO of Sathapana Bank Plc.

date_range 15-Jan-2025
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Phnom Penh, January 15, 2025 --H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC), received on Jan. 14 a courtesy call from Mr. Hendrik Gezienus MULDER, Chief Executive Officer of Sathapana Bank Plc., and his team to discuss the bank’s operation and future plan.In the meeting, Mr. Hendrik Gezienus MULDER briefed the NBC’s governor on Sathapana Bank’s operating status, credit quality status, and business strategy plan, and expressed optimism about the economic situation in Cambodia.He also highlighted plans to expand financial operations in Cambodia more broadly and plans to create new digital financial products.For her part, H.E. Dr. Chea Serey applauded the expansion plans in Cambodia and encouraged the bank to support for small- and medium-sized enterprises (SMEs).The NBC governor recommended further strengthening of business sustainability practices and better customer protection policies.Additionally, she mentioned the Royal Government of Cambodia’s resolution mechanism for the real estate sector, and encouraged banking and financial institutions to participate in this mechanism.

Cambodia Registers Over 410,000 Vehicles in 2024

date_range 15-Jan-2025
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Phnom Penh, January 15, 2025 --Cambodia registered 413,067 vehicles in 2024, Spokesperson of the Ministry of Public Works and Transport H.E. Phorn Rim said.Of the registered vehicles, 353,603 were motorcycles, 54,692 were family and tourist vehicles, and 5,841 were heavy vehicles.The figure showed a slight drop in 2024 vehicle registration compared with 2023.Cambodia has developed the National Road Safety 2021-2030 to limit the age of used vehicles imported into Cambodia in a bid to increase road safety while also protecting the environment.

Minister HEM Vanndy Meets APASME Delegation to Discuss Investment Opportunities in Cambodia

date_range 14-Jan-2025
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H.E. HEM Vanndy, Minister of Industry, Science, Technology & Innovation, received a delegation from the Asia Pacific Association of Small and Medium Enterprises (APASME) on January 13, 2025, to discuss potential collaboration and investment opportunities in Cambodia.The delegation, comprising representatives from Canadian and Chinese business communities, explored opportunities in various sectors, including agriculture, water supply, food-processing, and industrial development with a particular focus on bringing technological solutions and machinery.Minister Vanndy outlined Cambodia’s development strategy, emphasizing efforts in diversifying industries and strengthening competitiveness to integrate into global supply chains through adherence to environmental, social, and governance (ESG) standards and local content requirements.He said Cambodia is an imperfect emerging market with room to improve such as in skill development, logistics and energy costs, but he reassured the delegation of the government’s commitment to fostering a supportive environment for investors.Mr. Lang Wangkai, a representative of a Chinese technology company, shared insights into China’s approach to becoming a leader in technology and innovation, emphasizing a three-step process: learning, localization, and development of technology products. He noted that Cambodia’s strategy aligns well with China’s expertise in artificial intelligence, material science, and advanced technologies.Minister Vanndy encouraged the delegation to bring their technological solutions, knowledge and experience to Cambodia as a foundation for further investment, citing that the Royal Government can develop tailored special economic zones (SEZs) for specific priority sectors.He also suggested that APASME establish a ground presence in Cambodia and can start by doing research and development on climate-resilient high-yield crop varieties and investing in value-added production such as premium spices, packaged products or fine rice liquor, building on Cambodia’s reputation for winning the World Best Rice.

CCIED Leverages Global Practices to Establish M&E Framework for Cambodia's Informal Economy

date_range 13-Jan-2025
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Phnom Penh, January 13, 2025 --The Coordinating Committee for Informal Economy Development (CCIED), in collaboration with UNDP, ILO, and the Cambodia Australia Partnership for Resilient Economic Development (CAPRED), organised a consultation workshop to establish a Monitoring and Evaluation (M&E) Framework for the National Strategy for Informal Economy Development 2023-2028.The workshop aimed to gather input from stakeholders to ensure ownership and alignment in the strategy's implementation, said the Ministry of Industry, Science, Technology & Innovation (MISTI), said in a news release this afternoon.Presiding over the event, H.E. Hem Vanndy, Minister of MISTI and Chairman of the CCIED, emphasised the Royal Government’s commitment to strengthening the resilience and market competitiveness of informal economy actors while fostering their integration into supply chains and value creation in the national economy, which is vital for reducing poverty and promoting social equality.This M&E Framework focuses on integrating global practices on formalisation and reviewing the current action plans of the strategy. A draft outline of a digital M&E dashboard has been created to facilitate progress tracking. Key elements include defining roles and responsibilities, setting data management protocols, and outlining methods for data collection and analysis to ensure transparent and efficient reporting.“This framework will create a structured method for monitoring and evaluating progress towards the goals set out in the strategy, allowing stakeholders to make data-driven decisions and adjust actions according to actual circumstances and needs,” Minister Vanndy added. “It ensures that our actions are both feasible and aligned with the Royal Government’s objectives in promoting economic efficiency, social progress, and the well-being of the informal economy.”MISTI has been designated as the focal ministry tasked with developing the M&E framework, preparing evaluation reports, and updating the strategy based on input from stakeholders. The strategy also assigns specific responsibilities to relevant ministries-institutions at both national and sub-national levels, including the creation of detailed action and budget plans, sectoral progress reporting, and data provision for monitoring and evaluation.As part of its broader efforts to develop the informal economy, the Royal Government of Cambodia launched a digital platform for onboarding the informal economy on Dec. 16, 2024. The platform enables informal economy actors to onboard easily, access essential information, and receive benefits. The establishment of the M&E Framework will be another milestone in advancing Cambodia's efforts to strengthen the informal economy.

Cambodia Earns Nearly US$500 Million from Milled Rice Export in 2024

date_range 13-Jan-2025
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Phnom Penh, January 11, 2025 --Cambodia exported some 651,000 tonnes of milled rice to international markets last year, a slight decrease of 0.7 percent from 656,000 tonnes in 2023, according to a report from the Cambodia Rice Federation.However, the Kingdom earned US$491 million from rice export in 2024, up 5.3 percent from US$466 million recorded the previous year.The Cambodian milled rice was shipped to 68 destinations around the world. Europe was the major market for Cambodia’s milled rice last year, importing 327,156 tonnes worth US$253 million, followed by ASEAN markets 127,076 tonnes worth US$92 million, and China 117,925 tonnes worth US$75 million.Some 79,365 tonnes others were exported to other destinations, earning a total of US$69 million.The exported rice varieties included fragrant rice, organic rice, white rice, parboiled rice and japonica rice.Additionally, the Kingdom also generated US$1,496 million from the export of 5.1 million tonnes of paddy rice last year.The Royal Government of Cambodia has supported the rice sector through initiatives to improve infrastructure and technical assistance to farmers and the branding of Cambodian rice.Prime Minister Samdech Moha Borvor Thipadei Hun Manet has recently spoken highly of the Cambodia Rice Federation for its collaboration with the Royal Government in developing the rice sector.He highlighted the critical role of agriculture in promoting the people’s livelihoods and driving Cambodia’s socio-economic development.“The Royal Government of Cambodia is committed to prioritising rice as a long-term strategic crop for Cambodia,” Samdech Thipadei Hun Manet said.The Premier underscored the importance of implementing necessary policies to support rice cultivation and ensure the competitiveness of Cambodia’s rice sector, including building infrastructure to streamline transport and reduce production costs, promoting domestic supply chain ownership, and expanding exports to international markets.He also encouraged the Cambodia Rice Federation to further strengthen its collaboration with relevant governmental ministries and institutions to boost direct exports to international markets with higher added value.Last year, Malys Angkor (Phka Romdoul), the trusted name for Cambodian premium aromatic rice, won the World’s Best Rice Award in the World Rice Conference in Manila, the Philippines. Since her participation in the World Rice Conference, Cambodia won the prestigious title multiple times, in 2012, 2013, 2014, 2018, and 2022.

Cambodia Records 48% Rise in Number of Chinese Tourists to Angkor

date_range 06-Jan-2025
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Phnom Penh, January 06, 2025 --Cambodia has reported a 48 percent increase in the number of Chinese tourists to the UNESCO-listed Angkor Archaeological Park in 2024, an official report showed on Saturday.Located in northwest Siem Reap province, the ancient site welcomed a total of 82,675 Chinese visitors last year, up 48 percent from 55,689 in the year before, said the state-owned Angkor Enterprise's report.The number accounted for 8 percent of the total 1.02 million international tourist arrivals to the park in 2024, the report added.China ranked the third largest source of the foreign tourists to the Angkor complex after the United States and Britain, according to the report.The 401-square-kilometre Angkor complex, which currently stands as the most popular tourist attraction in Cambodia, is home to 91 ancient temples built from the 9th to the 13th centuries.H.E. Long Kosal, Deputy Director General of and spokesperson for the APSARA National Authority, said the launches of the Siem Reap Angkor International Airport in November 2023 and the Cambodia-China people-to-people exchange year 2024 had attributed to the growth of Chinese tourists to the Angkor park.

Development Sihanoukville's Massive Resort on Track, High Attention on Wastewater Management

date_range 03-Jan-2025
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Phnom Penh, January 03, 2025 --The development of a massive integrated entertainment resort in Preah Sihanouk province progresses well; meanwhile, the provincial administration advises special attention to its wastewater management for sustainable business.Governor of Preah Sihanouk province H.E. Mang Sineth underlined the technical advice with the developer, Peninsula Bay Investment Co., Ltd., when conducting an inspection visit to the development areas on Jan. 2 in Techo Square in Sangkat 4 of Sihanoukville.The governor suggested a high-standard wastewater treatment plant to avoid pollution to the surrounding environment, and the investment will eventually contribute to the sustainable operation of the business.Thanking the Peninsula Bay Investment, he reaffirmed his administration's strong support to address any emerging challenges during the construction process to make sure it progresses on the right track and in a timely manner.According to the company's representative in charge of the development project, Mr. Lai Xiao Bo, the construction of the resort was divided into zones A and B.The development of Zone B, which features condominiums and commercial buildings, is expected to be completed in late 2025.The Zone A development, he added, which comprises a five-star hotel, shopping malls, and entertainment parks, will be finished by 2028.Encompassing an area of 15.8 hectares, the latest estimation of the whole development cost was around US$1 billion, and it is expected to enable some 5,000 jobs once in operation.

Cambodia Earns about US$1,150 Million from Cashew Nut Export in 2024

date_range 30-Dec-2024
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Phnom Penh, December 30, 2024 --This year, Cambodia exported more than 800,000 tonnes of cashew nuts, earning some US$1,150 million, up 31 percent from the previous year.The figures were shared by Mr. Uon Siloth, President of the Cambodian Cashew Association, adding that most of the Cambodian cashew nuts were exported to Vietnam.According to Mr. Uon Siloth, Cambodia produced a total of about 850,000 tonnes of cashew nuts in 2024, up 26 percent from 2023. Currently, the Kingdom has 50 cashew nut processing enterprises, of which 6 are medium-sized factories.Four varieties of cashew nuts such as M-23, M-10, IM-4 and H-09 have been registered with the Ministry of Agriculture, Forestry and Fisheries, he said.Last year, Cambodia bagged some US$837 million from the export of 65,600 tonnes of cashew nuts, while in 2022, the country exported around 670,000 tonnes of raw cashew nuts worth US$1.077 billion.The main markets for Cambodia’s cashew nuts are Vietnam, Japan and China.The Ministry of Agriculture, Forestry and Fisheries’ report shows that cashew plantations cover an area of about 580,117 hectares across Cambodia in 2024. Kampong Thom province has the largest cultivated area of around 147,700 hectares, followed by Kratie province with 102,500 hectares and Rattanakiri province with 97,200 hectares.

A $500M five-star hotel and commercial center project in Preah Sihanouk is underway

date_range 25-Dec-2024
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With an investment of approximately over $500 million USD, the Peninsula Integrated Resort project, which includes a five-star hotel and a commercial center in Preah Sihanouk Province, has reached about 13% completion as of December this year. Additionally, the project will require an additional investment of up to $300 million USD.Mr. Seng Eak, the administrator of the five-star hotel and Peninsula Integrated Resort development company, told the media that as of December, the construction of the hotel and commercial center has achieved around 13% completion and is progressing steadily.This major project is planned to be fully completed by February 2028. Currently, the construction company is expediting the work to meet the timeline, employing approximately 1,000 workers of various nationalities, including Chinese, Cambodian, Nepalese, and Bangladeshi, according to Mr. Seng Eak.The project includes a five-star hotel, various commercial centers, and a modern shopping mall. Mr. Seng Eak added that due to the project’s expansion beyond the initial plan, the company has prepared to allocate an additional $300 million USD. Consequently, the total investment in this project is expected to reach at least $800 million USD.The project owner is optimistic that this initiative will elevate the profile of Preah Sihanouk Province to a higher level and serve as a potential catalyst for attracting foreign investment to Cambodia, particularly to Preah Sihanouk Province.According to Mr. Seng Eak, once operational, the project is expected to provide direct employment to around 4,000 people and indirect employment to many more.Regarding this significant project, His Excellency Dr. Ph.D. Hean Sahib, Minister Attached to the Prime Minister and Secretary of State of the Ministry of Economy and Finance, remarked to representatives of the project’s development company last week that the Royal Government strongly encourages investment in Preah Sihanouk Province. Therefore, if the company has any requests for the government, they may contact the provincial administration or the investment facilitation team in Preah Sihanouk Province for resolution.Meanwhile, His Excellency Chea Kokhong, Chairman of the Secretariat of the Inter-Ministerial Technical Working Group for the preparation and implementation of the master development plan for Preah Sihanouk Province into a model multi-purpose special economic zone, stated that the 15-year master development plan for Preah Sihanouk Province anticipates an investment of approximately $20 billion USD. This will contribute to the province’s rapid growth, potential enhancement, and particularly to the income generation of residents in Preah Sihanouk Province, as well as support the economic growth of Cambodia.

US$6.9 Billion-worth Investment Projects Registered in 2024

date_range 20-Dec-2024
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Phnom Penh, December 20, 2024 --The Council for the Development of Cambodia (CDC) approved a total of 414 investment projects in 2024, up 54 percent from 268 projects last year, according to a report released on Dec. 20.The approved investment projects had a total investment capital of US$9,600 million, up 40 percent from US$4,927 million in 2023, the report added.H.E. Sun Chanthol, Deputy Prime Minister and CDC First Vice President, has recently attributed the sharp rise in investment projects to peace, political and macroeconomic stability, better legal frameworks and regulations, and the growth of Cambodian economy.“The Royal Government has been proactive in addressing the difficulties and challenges of the private sector to enhance investment environment for both domestic and foreign investors,” said H.E. Sun Chanthol.

Three Financing Agreements worth Some US$192 Million Signed

date_range 20-Dec-2024
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Phnom Penh, December 20, 2024 --The Royal Government of Cambodia and the French Development Agency (AFD) have signed three cooperation financing agreements totaling €183 million (equivalent to US$192.2 million).The agreements were inked here on Dec. 18 between H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, Ms. Sandrine Boucher, AFD Country Director for Cambodia, Mr. Fabrice Etienne, Chargé d’Affaires a.i. of the French Embassy in Cambodia, and Mr. Bryan Fornari, Head of Cooperation, EU Delegation to Cambodia.Under the cooperation financing agreements, a concessional loan of US$95.6 million will be used for the restoration and management of Svay Check River in Banteay Meanchey province, while another concessional loan of US$84 million for Bakheng Water Supply Project Phase III, Credit No. 2.The rest, US$12.6 million, is a grant aid from the EU through AFD for the Bakheng Water Treatment Plant construction project, phase III.The signing ceremony of the three cooperation financing agreements is a significant event that reflects the excellent cooperation between the Royal Government of Cambodia and the Government of the French Republic, through AFD and EU, underlined the Ministry of Economy and Finance in a press release.These projects will help support Cambodia’s socio-economic development, which responds to the priorities of the Royal Government’s Pentagonal Strategy - Phase 1 on training technical skills, promoting connectivity and increasing the efficiency of the transport and clean water sectors, and enhancing agriculture and rural development, the source added.

Cambodia Developing Three-Year Investment Promotion Strategy

date_range 20-Dec-2024
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Phnom Penh, December 20, 2024 --The Council for the Development of Cambodia (CDC) is developing a Three-Year Investment Promotion Strategy for Cambodia to foster an attractive investment climate and increase its competitiveness in Southeast Asia.At the CDC’s headquarters in Phnom Penh on Dec. 18, H.E. Sun Chanthol, Deputy Prime Minister, First Vice President of CDC, chaired a high-level meeting on the development of the strategy, with the participation of Australian Deputy Ambassador Ms. Bridget Collier.Under technical collaboration from Australia through the Cambodia-Australia Partnership for Resilient Economic Development (CAPRED) programme, the strategy will help guide Cambodia to create an enabling investment environment, attract and retain quality investors, increase FDI and diversify markets.H.E. Sun Chanthol welcomed the collaboration with CAPRED and recommended the programme to prioritise seeking information on potential companies that wish to shift their production base to the ASEAN region, as well as conducting an in-depth study on strategies to support Cambodia's agro-industrial sector, and a feasibility study to identify the logistics sector as an additional priority sector for the three-year investment promotion strategy.For her part, Ms. Collier said that Australia through the CAPRED programme is proud to be supporting Cambodia’s investment and trade initiatives as the two countries collectively tackle emerging regional and global economic shifts. “This strategy will be an important step towards Cambodia’s resilient, inclusive and sustainable economic growth,” she underlined.

Malaysian Top Leader Supports Investment in Cambodia and Sarawak-Phnom Penh Direct Flights

date_range 18-Dec-2024
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Phnom Penh, December 18, 2024 --HON. Senator Dato Awang Bemee bin Awang Ali Basah, Malaysian Senate President, has voiced his support for Malaysian investment in Cambodia's rice milling sector and the launch of direct flights from Sarawak, a Malaysian state, to Phnom Penh capital of Cambodia.The support was underlined during a working lunch at the Senate House in Kuala Lumpur, Malaysia on Dec. 17 between the Malaysian Senate President, H.E. OUK Chandara, Ambassador of Cambodia to Malaysia, accompanied by Mr. VITH Panhnha, Commercial Attaché, and Malaysian investors from Sarawak and Sabah, according to the Cambodian Ministry of Commerce.H.E. Senate President also encouraged Malaysian investors to explore increased investment in Cambodia's trade, agro-industry, energy, education, health, and tourism sectors, and to explore opportunities to enhance closer relations between cities in Sarawak and Sabah and cities or provinces in Cambodia to increase economic volume, investment, trade, tourism, cultural exchange, and educational collaboration.In response, H.E. Ambassador OUK Chandara expressed his deep gratitude to H.E. Senate President for hosting the working lunch and welcomed Malaysian investors from Sarawak and Sabah to explore investment opportunities in Cambodia.