Cambodia's GFT exports surge 20% in early 2024

Economy and Industry

Cambodia's GFT exports surge 20% in early 2024 Cambodia exported $4.969 billion worth of garments, footwear, and travel goods (GFTs) in the first five months of 2024, marking a 20% increase from $4.129 billion over the same period last year, according to a Ministry of Commerce report. Garments and textiles accounted for $3.628 billion, a 22% rise from $2.960 billion the previous year. Footwear exports reached $615 million, up 10% from $558 million, while travel goods totaled $726 million, an 18.8% increase from $611 million. The World Bank's economic update highlights the GFT sector as a key driver of Cambodia's projected 5.8% economic growth this year. The GFT industry remains the largest foreign exchange earner in Southeast Asia, with around 1,680 factories employing approximately 918,000 workers, predominantly female, according to the Ministry of Labour and Vocational Training. (Source: Khmer Times)

Cambodia aims to export 1 million ton of milled rice by 2025 With a strategy focused on market expansion, boosting production capacity, and enhancing rice quality standards, Cambodia aims to achieve an ambitious target of exporting one million ton of milled rice by 2025, said Cambodia Rice Federation (CRF) President Chan Sokheang. The export stages are set at 700,000 tons for 2023, 850,000 tons for 2024, and one million ton for 2025. In the first five months of this year, Cambodia exported 302,592 tons of milled rice, meeting 35% of the 2024 target. Agreements with new markets, such as Indonesia and the US, are key drivers to achieve greater volume. For example, the US-based Otis McAllister has shown interest in purchasing Cambodian milled rice. Currently, Cambodia produces a yearly yield of 12.49 million tons of paddy rice, generating a surplus of 6.5 million tons, which indicates the country's capability of exporting more rice. (Source: Khmer Times)

Vietnam and Cambodia strengthen investment ties at Ho Chi Minh investment seminar The Investment and Trade Promotion Center of Ho Chi Minh City hosted a seminar on June 7 to promote investment between Vietnam and Cambodia was attended by over 70 enterprises from various sectors. Leaders from the Council for the Development of Cambodia (CDC) presented investment-attraction policies, highlighting support tools like government-investor forums and bilateral cooperation frameworks. Trade between the two countries has flourished due to a 1,258-kilometer land border and ten border gates, with Cambodia's export turnover to Vietnam reaching $1.39 billion in the first quarter of 2024, a 53% increase from the same period last year, while Vietnamese imports to Cambodia totaled $0.933 billion, a 2.5% decrease YoY. Vietnam, the largest ASEAN investor in Cambodia, has 206 active projects with a registered capital of $2.95 billion, focusing on sectors like agriculture, finance, and telecommunications, boosting Cambodia's socio-economic development. Conversely, Cambodia has 31 investment projects in Vietnam, totaling $73 million in registered capital. (Source: Khmer Times)

Corporate News

EDTCO Cambodia enhances school environment with CSR initiative EDOTCO Cambodia, a prominent telecommunications infrastructure services provider, has illuminated the lives of Cambodian schoolchildren through a recent charity drive encompassing school painting, book and stationery donations, provision of first aid supplies, and tree planting. Engaging 46 employees alongside 28 teachers and 678 students at Sre Ronorng Primary School in Takeo Province, the initiative, part of the company's Corporate Social Responsibility (CSR) efforts, amassed over 6,000 voluntary hours. Executed in collaboration with school management and local authorities, the project aimed to enhance the school's physical environment and foster a brighter future for students. EDOTCO Cambodia Managing Director Ashok Muthu expressed pride in the initiative's alignment with their vision of societal betterment through education. The charitable actions garnered appreciation from local authorities and communities, fostering a sense of pride and ownership among students, teachers, and residents. This endeavor reflects just one of several CSR activities undertaken by EDOTCO Cambodia, demonstrating their commitment to social impact and environmental preservation. (Source: Khmer Times)

Stock Market

CSX index gains 0.12% on June 10, 2024 On June 10, 2024, the CSX index closed at 409.1 points, up 0.12% from the previous day. The main board saw gains in GTI (+0.88%), PAS (+0.66%), and CGSM (+0.42%), while PEPC (-1.76%), PPAP (-0.75%), and ABC (-0.27%) experienced declines. PWSA, PPSP, and MJQE remained unchanged. On the growth board, DBDE was up by 0.45%, and JSL was down by 0.77%. The total trading volume was 62,722 shares, with a cumulative trading value of KHR 391 million. (Source: YSC Research)

CSX Index

Stock Performance

Valuation Ratios

Trading Summary

Historical Issuance Summary

Main Board

Growth Board