Chinese Ambassador believes Phnom Penh has the potential to become a key business hub in Indochina and ASEAN

Economy and Industry

Chinese Ambassador believes Phnom Penh has the potential to become a key business hub in Indochina and ASEAN Chinese Ambassador Wang Wenbin has expressed confidence in Phnom Penh's potential to become a major business center and energy hub in Indochina and ASEAN due to its rapid development. During his visits to Cambodia, he was impressed by the city's economic and social progress. He envisions Phnom Penh evolving into a dynamic and vibrant business hub in the Indochina Peninsula and Southeast Asia. The longstanding China-Cambodia friendship serves as a model for international relations, and as the new Ambassador to Cambodia, Wang is eager to collaborate with partners from both nations, implement leaders' consensus, and strengthen the ironclad friendship between China and Cambodia. Dr. Chey Tech, a socio-economic researcher, attributed Cambodia's development to recent advancements and its strategic location, which have facilitated infrastructure projects under China's 'One Belt and Road' initiative. However, Dr. Tech noted that the Royal Government of Cambodia still faces challenges in logistics, transportation, electricity costs, taxes, trade facilitation, business registration, corruption, and governance, which require further improvement. (Source: Khmer Times)

Cambodia to set up a private commercial center in Macau Cambodia is planning to establish a private commercial center in Macau, China, to enhance its trade and investment potential. Seang Thay, Secretary of State for the Ministry of Commerce, visited Macau to discuss the center's objectives. The center aims to boost Cambodian exports, showcase products, and disseminate information about Cambodia's trade, economy, investment, tourism, and culture. During the visit, Thay met with the President of Hengqin Regional Investment Fund and representatives from two other private companies to discuss the business environment, investment opportunities, and Cambodia's advantages as a Least Developed Country. Some companies showed interest in setting up a furniture processing facility for export using imported raw materials, while others are considering purchasing Cambodian products. (Source: Khmer Times)

ARDB extends over $400 million in loans to agriculture sector in first half of the year In the first half of 2024, the Agriculture and Rural Development Bank (ARDB) in Cambodia provided over $400 million in loans to the agricultural sector, covering areas such as cultivation, breeding, and processing. This initiative was supported by financing packages from the Royal Government of Cambodia (RGC), through the Ministry of Economy and Finance (MEF), to enhance agricultural production and boost exports to international markets. By the end of June 2024, ARDB had extended approximately $440 million in loans. Additionally, ARDB signed a Memorandum of Understanding (MoU) with the Credit Guarantee Corporation of Cambodia (CGCC) to secure credit guarantees for its projects. Cambodia's agricultural exports surpassed six million tonnes, marking the highest increase in the last five years. A significant 94% of these exports were directed to key markets, including China, Vietnam, and Thailand. The total value of non-rice agricultural products and rice exports exceeded $1.8 billion, with rice exports alone accounting for over $400 million. (Source: Khmer Times)

Corporate News

Six additional airlines aim to establish flight services to Siem Reap Six additional foreign airlines from China, South Korea, and India are set to commence services to Siem Reap province during the high season from October 2024 to March 2025. Thim Sereyvuth from the Provincial Tourism Department reported that these airlines, including China Southern Airlines, Xiamen Airlines, Shandong Airlines, T'way Airlines, Eastar Jet, and IndiGo, are negotiating direct flights with Siem Reap Angkor International Airport (SAI). Currently, SAI receives flights from five ASEAN member states -Thailand, Vietnam, Laos, Singapore, and Malaysia - as well as from China and South Korea. Located in Tayek commune, Sotr Nikum district, the airport began operations on October 16 and aims to increase its capacity to 12 million passengers annually by 2040. It currently handles 1,000 to 1,500 passengers and approximately 30 flight movements daily. (Source: Khmer Times)

Stock Market

CSX index closes up 0.08% on July 25, 2024 On July 25, 2024, the CSX Index closed at 415.7 points, marking a 0.08% increase from the previous day. Gains were observed on the main board with GTI (+2.66%), ABC (+0.27%), and PAS (+0.17%). Conversely, PEPC (-0.79%), PPSP (-0.44%), PWSA (-0.28%), and PPAP (-0.26%) declined. MJQE and CGSM remained unchanged. On the growth board, DBDE dropped by 0.48% while JSL held steady. The total trading volume for the day was 67,569 shares, with a cumulative trading value of KHR 393 million. (Source: YSC Research)

CSX Index

Stock Performance

Valuation Ratios

Trading Summary

Historical Issuance Summary

Main Board

Growth Board