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ខ្មែរ Business and Market
750k SMEs in Cambodia Key Driver of Economic Growth, Contributing 63% to GDP and Employing Over 70% of Workforce
- 26 June 2024
Cambodia has more than 750,000 small and medium-sized enterprises (SMEs) which play a pivotal role in the nation's economy, contributing 63% to the gross domestic product (GDP) and employing more than 70% of the workforce. This significant contribution was highlighted by Samdech Hun Manet, PM of Cambodia, in his message on the occasion of the first National Day of Small and Medium Enterprises, cel...
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Vietnam’s Trade Ministry Requests PM’s Approval on Cambodian Sand Imports to Address 2.3m Cubic Metres Demand
- 25 June 2024
The Vietnamese Ministry of Industry and Trade has proposed to Prime Minister Phạm Minh Chính to import construction sand from Cambodia to address the country's annual demand of 2.3 million cubic metres. This recommendation follows a feasibility study indicating Cambodia's ability to supply sand for Vietnam’s long-term construction needs, as reported by Vietnamnews.vn on 24 June 2024. The feasib...
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Cambodia & Singapore Launch FTC to Boost Cross-Border Financial Services
- 20 June 2024
Cambodia and Singapore have launched the Financial Transparency Corridor (FTC) project to facilitate financing for small and medium enterprises (SMEs) in both countries. The initiative, announced by the National Bank of Cambodia on 18 June 2024, aims to enhance bilateral trade and investment activities by streamlining cross-border financial services. The FTC serves as a digital infrastructure, ...
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Cambodia Introduces Tax Incentives to Integrate Informal Enterprises into Formal Economy
- 19 June 2024
The Cambodian government has announced new tax incentives aimed at formalising the informal economy, targeting micro, small, and medium enterprises (MSMEs) in specific sectors. According to Sub-Decree No. 113, dated 21 May 2024, these incentives apply to businesses in wholesale, retail, and repair; accommodation and food services; craft; and agricultural communities, encouraging them to voluntaril...
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China Boosts Exports to 7.6% in May Amidst US, Europe Tightening Chinese Import Tariffs
- 17 June 2024
China's exports jumped by 7.6% year-on-year in May, providing a crucial boost to the world's second-largest economy amid ongoing property market woes and subdued domestic demand. This significant rise, reported by the country's customs office on Friday, outpaced April's 1.5% increase and exceeded economists' expectations of a 6.0% growth, according to Nikkei Asia on 7 June 2024. Imports, on the...
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EU Cracks Down on Unsustainable Supply Chains with Landmark Directive
- 16 June 2024
The European Union (EU) has taken a significant step towards promoting ethical and sustainable practices in global supply chains with the adoption of a new directive on corporate due diligence. This legislation, applicable to large companies within the EU, mandates stricter accountability for environmental and human rights issues throughout their operations and supply networks, according to Europe...
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Dubai Issues Golden Visa: A Luxury House Costs US$24m, Still Cheap for Chinese Buyers
- 12 June 2024
Dubai's Booming Market and Golden Visa Scheme Lure Investors from Mainland China and Hong Kong Fuelled by a thriving real estate market and a fast-track residency program, Dubai is rapidly becoming a top destination for property investors from mainland China and Hong Kong, according to industry experts. This shift in investor focus comes after years of strong interest in Portugal, but Dubai's a...
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Cambodia Sees Over 30% Increase in Steel Imports in Early 2024
- 10 June 2024
In the first four months of 2024, Cambodia imported iron and steel worth approximately US$168 million, marking a significant 30.6% increase from the US$129 million recorded during the same period in 2023. This data was reported by the General Department of Customs and Excise on 21 May 2024. The increase in imports extends beyond iron and steel alone. Iron and steel products saw a notable surge,...
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Benesch Pilots AI/ML and Digital Twin Technology to Streamline Traditional Pavement Assessment Workflows
- 9 June 2024
Using Bentley’s iTwin Applications Facilitates Data-centricity, Industrializing Industry Pavement Management Practices Traditional pavement management practices and technology lack efficiency and comprehensiveness, failing to maximize asset Benesch initiated a research and development project, exploring the integration of artificial intelligence, machine learning, and digital twins for a ...
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Cambodia’s Trade Volume Hits US$17bn in First Five Months of 2024, Down 10%
- 7 June 2024
In the first five months of 2024, Cambodia's trade volume reached approximately US$17 billion, marking a 10% decrease compared to the same period in 2023. This decline, reported by HE Sok Sopheak, Secretary of State and spokesperson for the Ministry of Commerce, was attributed to sluggish overseas consumer markets and inflation in buyer countries. The data was sourced from AKP on 4 June 2024. T...
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