ADB approves $70 mln loan to Cambodia for education reforms

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CSX market index advances for fourth trading day straight On November 10th, 2022, the CSX market index edged up 0.50pts gain or 0.10% to 480.29pts, posting a daily gain for the fourth trading day straight. PWSA and PAS share rose 0.27% and 0.61% respectively. Meanwhile, GTI and PEPC shares retreated 0.26% and 0.32% each. PPAP, PPSP, ABC, DBDE, and JSL shares were unchanged. ABC stock finally stopped their rally, remaining unmoved today. (Source: Yuanta Securities)

Economy and Industry

Cambodia approves more than 150 investments worth more than $3 billion in 10 months In the first 10 months of 2022, Cambodia approved a total of 161 investment projects with a total investment capital of $3.5 billion. While speaking at the Vietnam-Cambodia trade and investment promotion forum yesterday, Sok Chenda Sophea, Delegate Minister Attached to the Prime Minister and Secretary General of the Council for the Development of Cambodia (CDC), said that of the 161 investments approved, 41.5 percent was for industry and 51 percent is in infrastructure. He added that the CDC has been actively fulfilling its mission with a high sense of responsibility in order to continue to attract more investment through participation in the preparation and implementation of policies, laws and regulations related to the modernization of investment project registration. The CDC, relevant ministries and institutions have been preparing a sub-decree on the implementation of the Investment Law of the Kingdom of Cambodia, which is scheduled to be completed by the end of this year. The CDC Secretary General added that the roadmap is expected to contribute to increasing production and export of products in both sectors, increasing employment and improving the Cambodian business and investment environment. (Source: Khmer Times)

PM Hun Sen encourages more Vietnamese investors to invest in Cambodia Cambodian Prime Minister Hun Sen has encouraged more foreign investors, particularly the Vietnamese, to invest in Cambodia, especially in areas with high potential such as modern agriculture, food processing and light manufacturing industry. The Cambodian Premier made the encouragement while he and visiting Pham Minh Chinh, Prime Minister of the Socialist Republic of Vietnam were presiding over the Cambodia-Vietnam Investment and Trade Promotion Forum. PM Hun Sen also announced to assure all investors of a conducive environment, especially peace, security and political stability, as well as macroeconomic stability, effective legal and institutional framework, transparency, accountability and predictability. The Premier also laid stress on the new investment law, which was promulgated on Oct. 15, 2021 and identifies a number of priority investment sectors and activities that need to be encouraged, as well as on the Cambodia industrial development policy being revised to catch up with the changes in global ecnomic. structure. According to the report of the council for the deveopment of cambodia(CDC), no new Vietnamese investment was recorded in Cambodia this year and in 2021, unlike before the Covid-19 cirsis, in which there were alot of Vietnamese investment projects in Cambodia, mainly in agriculture and telecommunications. (Source: Khmer Times)

Cambodia unveils National Policy Framework for Economic Productivity Phnom Penh recently announced the implementation of the National Policy Framework for Cambodia's Economic Productivity 2022-35 to raise the potential of investment and trade and improve national economic productivity, according to Aun Pornmoniroth, minister of economy and finance. During the official launch ceremony, Pornmoniroth said the socio-economic policy framework aims at achieving economic security and well-being of the people by raising income, support the needs of the nation, address the challenges and risks of disruption in the global supply chain and energy insecurity by increasing access and capacity. The nation aims to achieve a high value-added economy by improving the competitiveness of Cambodia's production, services, trade and investment, he said. When the framework is fully implemented, the country's economy will improve, products will see more value addition, production and services will improve, and the country will be better connected to regional and global economies. The framework will also lead to Cambodia having increased income and the ability to improve livelihoods, attract high value-added investment, reduce poverty and lower the cost of providing public services to the people, he added. The external demand and the domestic economy's return to normalcy will give a big boost to economic expansion, said a summary report of the ministry. The foreign exchange reserve would increase to $22.14 billion, the report added. (Source: Khmer Times)

Corporate News

ADB approves $70 mln loan to Cambodia for education reforms The Manila-based Asian Development Bank (ADB) has approved a $70-million loan to Cambodia to support government efforts to deepen reforms in upper secondary science, technology, engineering, and mathematics (STEM) education across the country, the lender said in a press statement on Monday. The Science and Technology Project in Upper Secondary Education will help Cambodia develop high-quality human resources, especially in the STEM field, as the country aspires to transform its economy to a technology-driven and knowledge-based economy, the statement said. The project will put in place standards for quality education for all upper secondary schools, upgrade facilities, and provide essential education technology and STEM equipment in Cambodia, the statement said. Among the project's plans will be to upgrade the facilities of 14 upper secondary network schools and 103 general upper secondary schools, by converting three classrooms in each into two science classrooms and one library with equipment, teaching materials, books, furnishing, and needed education technology resources, it added. (Source: Khmer Times)

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