NBC chief reports Cambodia's foreign assets hit $22.5 billion

Economy and Industry

NBC chief reports Cambodia's foreign assets hit $22.5 billion The National Bank of Cambodia (NBC) announced that Cambodia's foreign assets have reached a new high of $22.5 billion, reflecting the country's growing economic stability and robust foreign investments. NBC's Governor Chea Serey highlighted that these foreign reserves provide a critical buffer against global economic shocks and ensure the stability of the Cambodian riel. The increase in foreign assets is largely attributed to the robust performance of the country's export sector, tourism industry, and inflows of foreign direct investments (FDI). The NBC has implemented effective monetary policies to manage these reserves and maintain economic growth. Additionally, the rising foreign assets strengthen the national economy's resilience and provide a cushion for potential financial crises. (Source: Khmer Times)

Cambodia to enhance solar capacity by 720mw this year Cambodia is set to bolster its solar energy capacity by an additional 720 megawatts (MW) within this year, as part of its broader initiative to diversify energy sources and reduce reliance on fossil fuels. The Ministry of Mines and Energy revealed that this increase in solar capacity aligns with the government's commitment to sustainable development and mitigating climate change. By expanding solar energy production, Cambodia aims to meet its rising energy demands and promote environmental sustainability. The new solar projects will be distributed across various provinces to ensure a steady and reliable energy supply. Investment in renewable energy not only provides environmental benefits but also attracts foreign investments and creates job opportunities in the green energy sector. (Source: Khmer Times)

Revision of draft sub-decree to boost agriculture The Cambodian government has revised its draft sub-decree aimed at further promoting the agricultural sector. This revision is part of the government's efforts to enhance agricultural productivity, diversify crops, and improve the sector's overall competitiveness. Key changes in the sub-decree include provisions for modernizing farming techniques, upgrading irrigation systems, and providing better support and incentives for farmers. By implementing these changes, the government aims to boost agricultural output and ensure food security. Additionally, the revised sub-decree focuses on promoting sustainable agricultural practices to protect the environment and ensure long-term productivity. The Ministry of Agriculture, Forestry, and Fisheries emphasized the importance of this sector in the national economy and its role in improving livelihoods. (Source: Khmer Times)

Corporate News

BYD to open new plant in Cambodia by end of 2025 BYD Auto, China's leading electric vehicle (EV) manufacturer, has announced its plans to open a new assembly plant in Cambodia by the end of 2025. This significant investment is part of BYD's strategy to expand its global footprint and meet the growing demand for electric and hybrid vehicles. The new plant is expected to have an annual production capacity of 10,000 vehicles and will focus initially on assembling fully electric and hybrid vehicles. The establishment of this plant is anticipated to create numerous job opportunities and attract further investments in Cambodia's automotive sector. The Cambodian government has welcomed BYD's decision, highlighting the positive impact on the local economy and the enhancement of the country's manufacturing capabilities. (Source: Phnom Penh Post)

Stock Market

CSX index rebounds 0.38% as trading volume hits 28k shares The CSX index regained 0.38%, closing at 410.1 points. On the main board, PPAP (+1.42%), ABC (+0.56%), CGSM (+0.41%), PAS (+0.34%), and PWSA (+0.32%) led the gains, while MJQE (-0.48%), PPSP (-0.46%), and GTI (-0.36%) saw losses. PEPC remained unchanged. On the growth board, DBDE and JSL rose by 0.48% and 0.33%, respectively. The session recorded a total trading volume of 28,318 shares, with a turnover of KHR 158 million. (Source: YSC Research)

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