Cambodia's economy to grow at 6.5% average rate, PM says

Economy and Industry

Cambodia's economy to grow at 6.5% average rate, PM says Prime Minister Hun Manet has announced that Cambodia's economy is projected to grow at an average rate of 6.5% over the next few years. This optimistic forecast is based on the country's strong economic fundamentals, including robust domestic demand, increased foreign direct investment, and a stable political environment. The Prime Minister highlighted the government's commitment to maintaining macroeconomic stability, improving infrastructure, and enhancing human capital to support sustainable growth. He also emphasized the importance of diversifying the economy to reduce reliance on traditional sectors such as agriculture and textiles. The government plans to promote the development of new industries, including technology, tourism, and green energy, to create more job opportunities and improve living standards for the Cambodian people. (Source: Khmer Times)

Chinese firms relocation boosts Cambodia's economy The relocation of Chinese firms to Cambodia has significantly boosted the country's economy, particularly in the manufacturing sector. This influx of Chinese investment has created numerous job opportunities and contributed to the growth of Cambodia's export industry. However, experts warn that relying too heavily on Chinese investment could pose risks to the country's economic stability. They argue that Cambodia needs to diversify its sources of foreign investment and develop other sectors to ensure sustainable growth. The government is urged to focus on improving the business environment, enhancing infrastructure, and investing in education and skills development to attract a wider range of investors. (Source: Khmer Times)

Korean province inks MoU with MLVT for hiring farm workers The Ministry of Labour and Vocational Training (MLVT) of Cambodia has signed a Memorandum of Understanding (MoU) with the Gapyeong Province of South Korea to facilitate the hiring of Cambodian farm workers. This agreement aims to address the labor shortage in South Korea's agricultural sector while providing employment opportunities for Cambodian workers. Under the MoU, Cambodian workers will be employed in various agricultural activities, including planting, harvesting, and processing crops. The Cambodian government is committed to supporting its workers abroad by providing pre-departure training and establishing mechanisms for monitoring their well-being. (Source: Khmer Times)

Corporate News

ACLEDA authorized as government bond intermediary ACLEDA Bank has been authorized by the Securities and Exchange Regulator of Cambodia (SERC) to act as a government bond intermediary. This authorization allows ACLEDA to facilitate the trading of government bonds, providing investors with a secure and profitable investment option. The bank's role as an intermediary is expected to enhance the development of Cambodia's financial market and contribute to the country's economic growth. ACLEDA will work closely with the Ministry of Economy and Finance (MoEF) and the National Bank of Cambodia (NBC) to promote the benefits of investing in government bonds and raise awareness about the opportunities available in the market. The bank will also organize seminars and workshops to educate investors about the potential and risks associated with government bond investments. (Source: Khmer Times)

Stock Market

CSX index gains 0.24% as PEPC, ABC lead market upswing The CSX index was up by 0.04%, closing at 413.4 points. On the main board, GTI (+0.66%), PPSP (+0.46%), and ABC (+0.27%) posted gains, while PPAP (-1.39%) and PEPC (-1.20%) recorded losses. PWSA, PAS, MJQE, and CGSM remained unchanged. On the growth board, DBDE and JSL remained unchanged. The session recorded a total trading volume of 73,257 shares, with a turnover of KHR 489 million. (Source: YSC Research)

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