Royal Government of Cambodia has invested nearly $4 billion in Cambodia's northeastern region

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Marginal uptick amidst main board fluctuations On March 06, 2024, the CSX index closed at 460.5 points, marking a marginal 0.04% uptick from the previous day. Fluctuations were evident across the main board, with CGSM (+0.39%) and PAS (+0.32%) posting gains, while PEPC (-2.57%), PWSA (-0.55%), PPSP (-0.47%), and ABC (-0.21%) saw declines. However, GTI, PPAP, and MJQE held steady at their opening prices. On the growth board, DBDE rose by 0.93%, while JSL remained unchanged. Trading saw 52,929 shares traded, totaling KHR 308 million in cumulative trading value. (Source: YSC Research)

Economy and Industry

Royal Government of Cambodia has invested nearly $4 billion in Cambodia's northeastern region Cambodia's government spent roughly $3.85 billion on various infrastructures, industrial parks and economic centers by the end of 2023 to boost the economic activity in the northeast region with neighboring Laos and Vietnam. As a result of the '13th meeting of the Joint Coordination Committee on Cambodia-Laos-Vietnam Development Triangle Area' (CLV-DTA) held on March 1, the three countries agreed to draft a Master Plan for socio-economic development up to 2030 for submission by the next summit in late 2024 for review and adoption. Furthermore, the three countries signed several proposals on areas such as infrastructure connectivity development, human resources development, and the development of potential industry in the triangle area. Despite the backdrop of war in the Middle East and other macroeconomic conditions, the government remains committed on establishing many Free Trade Agreements (FTA) with Middle Eastern countries to ensure stabilize oil prices while keeping existing projects on track. (Source: Khmer Times)

PM Hun Manet welcomes SPC Group's investment interest in Cambodia According to Bou Chanphirou, Director General of the Insurance Regulator of Cambodia (IRC), Insurance pentation in Cambodia sits at 1.14%, both an opportunity and challenge. The low penetration rate signifies significant growth potential, but issues like limited public awareness, financial literacy, and limited distribution channels need to be addressed. In 2022, insurers collected a gross premium of $332 million. Cambodia's government has envisions increasing the penetration rate to 5.5% by 2030, with a desired insurance density of $135 per person. Collaboration between banks and insurances, a skilled workforce, and a customer-centric approach are emphasized for achieving higher insurance penetration. Furthermore, the use of technology, such as Generative AI, has the potential to improve operational efficiency in the insurance industry. (Source: Khmer Times)

Cambodia and UK to improve bilateral cooperation and promote Green SEZ project H.E. Aun Pornmorniroth, Deputy Prime Minister and Minister of MEF, met with the United Kingdom Minister for Indo-Pacific, Rt Hon. Anne-Marie Trevelyn, to discuss bilateral cooperation on investment and trade, including the UK-backed Green special economic zone (SEZ) project in Cambodia. H.E. Pormmoniroth expressed gratitude for past cooperation and highlighted the Green SEZ project's contribution to Cambodia's socio-economic development. Furthermore, the Deputy PM also briefed his guest on the economy of Cambodia, the recovery of Cambodia's economic growth, and strategies and measures implemented for Cambodia to reach the goal of a high-income country by 2050. On the flip side, Rt Hon. Anne-Marie Trevalyan praised the progress in Cambodia-UK cooperation and expressed the UK's commitment to further strengthen ties and promote British investments, particularly for the Green SEZ. The Bilateral trade between Cambodia-UK amounted to $872 million in 2023, representing a 10.7% decrease from the year prior. (Source: Khmer Times)

Corporate News

Cambodia's rice exports to Australia is on the rise Paul Serra, CEO of sunrise, discussed plans to import more of Cambodia's Jasmine rice into Austrailia. SunRise is a leading food importer, marking and distribution company. Song Saran, president and CEO of Amru Rice (Cambodia) is optimistic on the prospects of more Cambodian companies penetrating a major market like Australia. Last year, Amru Rice exported two out of ten containers of its fragrant rice to Australia. After further discussions with SunRise's top executive and knowledge gained from the study tour, Amru Rice has developed a strategy and action plan to prepare for market expansion and increase efficiency in their sustainable agricultural practices. According to the Cambodia Rice Federation (CRF), Cambodia's rice exports increased 3% and generating $466 million in revenue from 2022 to 2023, representing a 13% increase in revenue from the year prior. (Source: Phnom Penh Post)

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