Cambodia's public debt stands at $11.27 billion

Economy and Industry

Cambodia's public debt stands at $11.27 billion Cambodia's public debt reached $11.27 billion by the end of the second quarter of 2024, with 99% being external debt, primarily in US dollars, Special Drawing Rights (SDR), Chinese yuan, and Japanese yen. Most of the debt (63%) is borrowed from bilateral development partners, while 37% comes from multilateral sources. In the first half of the year, Cambodia signed new concessional loans totaling $313 million, aimed at financing public investment projects to foster sustainable economic growth. The government’s debt remains manageable, with a recently published five-year strategy outlining plans for borrowing between $2.3 to $2.7 billion annually for infrastructure projects. (Source: Khmer Times)

Special task force formed to boost growth of informal Micro, Small and Medium-sized enterprises The Royal Government of Cambodia has formed a Special Task Force to monitor and evaluate policies related to informal Micro, Small, and Medium-sized Enterprises (MSMEs), as per a directive signed by Prime Minister Hun Manet on September 10. The task force aims to create a favorable environment for informal MSMEs, which represent 90% of Cambodia's economy, and help them grow sustainably. The group will work with national ministries, sub-national administrations, and stakeholders to gather information and report directly to the Prime Minister. This move follows the government's ongoing efforts to formalize the informal sector, a key contributor to Cambodia's economic development. (Source: Khmer Times)

Cambodia's first halal SEZ to meet local and global demands Cambodia has launched its first halal-focused special economic zone (SEZ), Halal Park Cambodia, in Kandal Province, aimed at tapping into the global halal market. The project, developed by WorldBridge Group, focuses on halal-certified food and cosmetics production for domestic and international markets. With support from the Cambodian government, the SEZ offers incentives like tax relief and investment facilitation, aiming to boost local SMEs and attract international investment. This initiative aligns with Cambodia's growing emphasis on the halal sector, following trends set by ASEAN neighbours like Malaysia and Indonesia. (Source: Khmer Times)

Corporate News

Wing Bank supports Bakong Tourist App contributing to driving tourism growth in Cambodia  Wing Bank (Cambodia) Plc has expressed strong support for the National Bank of Cambodia's launch of the Bakong Tourist App, a digital payment solution designed to enhance the convenience of foreign visitors by enabling secure, cashless transactions across Cambodia. With an extensive network of over 3.3 million KHQR code payment points and Wing Bank's 165,000 merchants, the app simplifies payments for tourists who often face challenges with cards or damaged cash. The app's introduction is expected to boost Cambodia's tourism sector, which saw a 23% rise in international visitors in the first half of 2024. (Source: Phnom Penh Post)

Stock Market

CSX index drops 0.10% as mixed performance seen on main and growth boards On September 17, 2024, the CSX index decreased by 0.10%, closing at 411.0 points. The main board saw gains in GTI (+0.79%) and PPAP (+0.15%), while PEPC (-2.02%), PAS (-0.67%), and PWSA (-0.30%) declined. Meanwhile, PPSP, ABC, MJQE, and CGSM remained unchanged. On the growth board, DBDE and JSL were down by 0.96% and 0.29%, respectively. The total trading volume was 55,896 shares, with a cumulative trading value of KHR 380 million. (Source: YSC Research)

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