China's largest e-retailer Alibaba Group and Cambodia have announced the Electronic World Trade Platform (eWTP) partnership, which is expected to strengthen Cambodia's economic development and digital economy.
22nd December 2022
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Cambodia's garment sector has received a boost as some big Japanese garment companies are shifting their manufacturing and procurement bases from China to Cambodia and Vietnam due to rising costs and Chinese government's zero COVID-19 policy, according to the Council for the Development of Cambodia (CDC).
21st December 2022
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From Jan to Oct 2022, Cambodia exported more than $3bn worth of agricultural products, according to the Ministry of Agriculture. Milled rice exports were at 509,249 tonnes, up 10.7% YoY, with total value of $435.4mn.
20th December 2022
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Thailand's Charoen Pokphand (CP) Group has sought support from the Cambodian government for investment opportunities in clean energy and food processing sectors.
19th December 2022
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The CSX index edged down for the second day straight, dropping 0.13% from the previous close to 476.77pts, but posting a weekly gain of 0.54%. ABC shares saw the biggest weekly gain of 0.8% to end at KHR10,660, followed by PAS shares rising 0.5% from last Friday to KHR13,060. PPWSA and PPAP gained slightly over the week to KHR7,480, and KHR14,000, respectively. PEPC shares were unchanged from last Friday, while GIT shares posted a weekly loss of 2.1%.
16th December 2022
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The CSX index rose for the sixth trading day straight, up 0.31% from the previous close to 477.8pts. The heavyweight ABC saw the biggest daily gain in the last 13 trading days, advancing another 0.56% from yesterday to end at a one-month high of KHR10,700. GTI, PPAP and PAS shares, however, edged down 0.80%, 0.14%, and 0.15% to KHR3,700, KHR13,960, and KHR13,040, respectively. PPWSA, PPSP, PEPC, DBDE, and JSL shares remained unchanged.
14th December 2022
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Cambodia's export of garments, footwear and travel goods (GFT) declined sharply during the last four months, wiping out the growth made in the first half of the year, according to GFT industry insiders. Ken Loo, secretary general of the Textile, Apparel, Footwear & Travel Goods Association in Cambodia, said that the exports during Jul-Oct period of this year came down by about 15% due to the drop in demand across the world. Loo said the decline in demand could continue till the first six months of next year, adding that Cambodia would have to work hard to remain competitive.
13th December 2022
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The CSX index rose for the third day straight, up 0.14% from the previous close to 474.21pts, posting a weekly gain of 0.42%. PPSP shares saw the biggest weekly gain, rising 0.8% from last Friday to end at KHR2,280. This is followed by ABC, which gained 0.6% over the week to finish at KHR10,580. Meanwhile, PPWSA and PAS shares edged up 0.3% from last Friday to KHR7,460 and KHR13,000, respectively. GTI shares posted a weekly loss of 1.0%, ending at KHR3,770, while PPAP closed the week 0.3% lower to KHR13,940.
09th December 2022
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Cambodia's GDP is on the growth path of 4.8% in 2022 as the post-pandemic recovery expands, according to the World Bank's Cambodia Economic Update for Dec 2022. The economy is recovering well, but global headwinds could pose risks to a positive outlook in months to come, the report says. Cambodia's garment industry, travel goods and footwear exports have been resilient. The services sector, especially travel and tourism, has done well with total international visitor arrivals reaching 1.2 million in the first nine months of the year. Business and consumer confidence have risen and both domestic and foreign investment have increased. Economic growth is projected to accelerate further to 5.2% in 2023, but face serious risks due to gloomy global growth outlook next year (global trade growth slowed in 2H22, and is projected to slow sharply in 2023). Mariam Sherman, World Bank's Country Director for Myanmar, Cambodia and Lao PDR, said that in order to shield its economy from a possible drop in external demand, Cambodia could take steps to strengthen its fiscal position and promote its domestic economy.
08th December 2022
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Cambodia has so far produced 4.85 tonnes of dore bars as of Dec 2 since the first commercial gold pour took place in Jun 2021, according to Minister of Mines and Energy Suy Sem. Four official gold producers are currently active. Australian-owned Renaissance Minerals (Cambodia) Ltd in the Okvau area of Mondulkiri province's Keo Seima district produced over 95% of the bars, weighing a total of 4.598 tonnes.
07th December 2022
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