Cambodian migrant workers generated over $5 billion in income

Economy and Industry

Cambodian migrant workers generated over $5 billion in income Cambodian migrant workers earn over $5 billion and sent nearly $3 billion in remittances back to their families in 2024, significantly contributing to the national economy. The Ministry of Labor and Vocational Training (MLVT) reported that 1.38 million Cambodians were working abroad in 2024. The Ministry of Labour and Vocational Training (MLVT) also arranged new international job placements for 44,862 workers, including 17,270 women. Additionally, 18,561 workers, of which 6,934 were women, chose to come back to their homeland. The Ministry of Labor has been working with host countries to improve the overall well-being of Cambodian migrant workers. (Source: Khmer Times)

Bakong digital payment system experiences rapid growth The National Bank of Cambodia (NBC) reported a significant increase in the use of its Bakong digital payment system in 2024, with over 600 million transactions conducted. Of these, more than 299 million transactions were in riel, up 334%, and over 308 million were in US dollars, up 133%. The total monetary volume transferred through Bakong represented 330% of Cambodia's GDP, with approximately 183.74 trillion riel ($46 billion) and $104.81 billion in US dollars. The Bakong system, introduced in October 2020, has expanded transaction possibilities and improved payment efficiency, facilitating government processes such as tax collection. The system has also connected with neighboring countries and international payment networks to support cross-border transactions. (Source: Khmer Times)

Angkor Archaeological Park sees significant increase in international visitors In the first two months of 2025, the Angkor Archaeological Park welcomed nearly 280,000 international tourists, marking an 18.8% increase compared to the same period last year. This surge in visitors generated $13.16 million in revenue from ticket sales, a 17.21% rise year-on-year. To enhance the visitor experience, Angkor Enterprise has installed automatic ticket machines at three locations, reducing the need for queuing. The park, home to 91 ancient temples built between the 9th and 13th centuries, remains Cambodia's most popular tourist destination. The increase in visitors is attributed to improved flight connectivity, China's economic recovery, and growing interest in Cambodia's cultural and natural attractions. (Source: Khmer Times)

Corporate News

Grab and OCIC partner to enhance mobility in Koh Pich Grab, Southeast Asia's leading super app, has partnered with the Overseas Cambodian Investment Corporation (OCIC) to enhance urban mobility in Koh Pich, one of Phnom Penh's fastest-growing central business districts. This collaboration aims to improve transportation access, benefiting residents, businesses, and visitors while supporting the neighborhood's broader urban development. Phnom Penh has experienced significant urban expansion, driven by recent infrastructure projects, increasing the need for new mobility solutions. The Grab-OCIC partnership will introduce improved transportation experiences, making it easier for people to navigate between landmarks. As part of this strategic partnership, Grab will provide a 50% discount for up to two rides per user. Ten designated pick-up and drop-off points have been established across Koh Pich to enhance user convenience. (Source: Cambodia Investment Review)

Stock Market

CSX dips 0.28% with gains in GTI & PWSA, losses in PPAP & ABC The CSX index declined by 0.28%, closing at 412.3 points. On the main board, GTI (+0.33%) and PWSA (+0.32%) posted gains, while PPAP (-2.31%), ABC (-0.82%), and PEPC (-0.41%) recorded losses. PPSP, PAS, MJQE, and CGSM remained unchanged. On the growth board, DBDE rose by 0.48%, while JSL remained unchanged. The session recorded a total trading volume of 55,029 shares, with a turnover of KHR 317 million. (Source: YSC Research)

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