RCEP trade with Cambodia reaches $26 billion in January-November

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CSX index rises 1.11% on positive main board movements As of December 22, 2023, the CSX index concluded at 474.4 points, indicating a 1.11% increase from the previous day. Positive movements were observed on the main board, with gains posted by PPAP (+1.75%), ABC (+1.62%), CGSM (+1.14%), PAS (+0.64%), PWSA (+0.55%), and GTI (+0.35%). Conversely, PEPC (-1.88%) experienced declines on the main board, while PPSP and MJQE closed unchanged. On the growth board, DBDE increased by 0.95%, and JSL saw a decline of 0.45%. The overall trading activity involved 238,710 shares, with a total trading value reaching KHR 1,453 million. (Source: YSC Research)

Economy and Industry

RCEP trade with Cambodia reaches $26 billion in January-November In the January-November period of 2021, Cambodia's trade with RCEP nations exceeded $26.5 billion, constituting 61% of the country's overall international trade, which stood at $43 billion. Throughout this period, Cambodia saw a 27.29% surge in exports to RCEP countries, reaching $7.21 billion. The Ministry of Commerce is dedicated to further enhancing trade by prioritizing the enhancement of public service delivery through automation, cost and time reduction, maintaining price stability, and fostering domestic trade, market development, and private sector growth. The RCEP free trade agreement took effect on January 1, 2022. Cambodia's primary exports to RCEP countries encompass garments, machinery, footwear, leather goods, grain, furniture, rubber, fruits, vegetables, pearls, toys, and textiles. (Source: Khmer Times)

$4.6 billion in fixed-asset investment is made in Cambodia During the January-November period of 2023, Cambodia drew in nearly $4.6 billion in fixed-assets investments, marking a 17% surge compared to the corresponding period in the previous year, as per a report from the Council for the Development of Cambodia (CDC). The organization greenlit 248 investment projects, a notable increase of 73 compared to the previous year. Leading the list of foreign investors in Cambodia are China, Malaysia, the British Virgin Islands, Singapore, and Vietnam. Notably, China stands out as the primary source of foreign direct investment, constituting 68% of the total registered investments. The investment projects predominantly center around agriculture, agro-industry sectors, manufacturing, tourism, and infrastructure, with special economic zones playing a crucial role in attracting non-garment manufacturing investments. The industrial sector has made a substantial contribution to Cambodia's GDP, now accounting for about 41% of the country's GDP in 2023. The upswing in both the number and value of investment projects underscores the confidence investors place in the Cambodian government. (Source: Khmer Times)

11,506 new business establishments are registered in Cambodia in the first 11 months According to the Ministry of Commerce, Cambodia granted operating licenses to 11,506 new companies and enterprises in the initial 11 months of 2023, representing a 14.5% rise compared to the corresponding period the previous year. These establishments were run by both local entrepreneurs and foreigners hailing from China, South Korea, Japan, Thailand, Malaysia, and Vietnam. The uptick in registrations for new businesses underscores the confidence that businesspeople and investors have in Cambodia's peaceful environment, political stability, and advantageous business prospects. However, during the January-November period, 967 companies and enterprises shut down, marking a 21.7% increase from the same timeframe in the preceding year. (Source: Khmer Times)

Corporate News

The Business Awards Gala honors SMEs and startups in the area The third annual Khmer Enterprise Awards featuring a competition involving more than 400 entrepreneurs in the evaluation process. Cash prizes were awarded to 11 outstanding businesses spanning three categories: best Small to Medium Size Enterprise (SME), best startup, and best school. The winners comprised innovative businesses in agriculture, technology, and services. Krousa Lotcha Nomkouchhay secured the first-place position in the SME category, receiving $7,000, followed by Svay Angkor Enterprise in second place with $6,000. Much Mobile Healthcare Co., Ltd., and Dam Dous Alvin claimed the third and fourth places, respectively. In the startup category, the winner was an agricultural enterprise specializing in organic sheep production, followed by the tech startup Wonderpass Technology Co., Ltd. Jobify (Cambodia) Co., Ltd., and Sabara Best Food Co., Ltd. were awarded prizes of $3,000 and $2,000, respectively. Khmer Enterprise, established under the Ministry of Economy and Finance, serves as a partner to The Aspen Network of Development Entrepreneurs. (Source: Khmer Times)

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