$3.2 billion is made from exporting agricultural products

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Stock Market

Cambodian stock market sees decline, but trading volume soars The CSX index fell 0.27% on October 10, 2023, closing at 449.2 points. Six stocks on the main board declined, with PWSA, GTI, PPSP, PAS, ABC, and MJQE falling by 1.10%, 5.98%, 0.46%, 0.66%, 0.20%, and 0.48%, respectively. PWSA and PPSP closed unchanged, while PPAP was the only stock to close higher, with a 0.29% increase. On the growth board, DBDE went down by 1.40%, while JSL closed unchanged. The number of shares traded increased sevenfold from the day before, to 538,928 shares, or KHR 1,958 million. (Source: YSC Research)

Economy and Industry

$3.2 billion is made from exporting agricultural products Cambodia exported 5.5 million tonnes of agricultural products in the first nine months of 2023, earning around $3.2 billion in revenue, according to a report from the Ministry of Agriculture, Forestry and Fisheries. The main products exported included rice, bananas, mangoes, cassava, cashew nuts, corn, palm oil, pepper, and tobacco. Milled rice and paddy rice earned $395 million and $658 million, respectively. Non-rice agricultural exports were valued at $2.16 billion. The growth in exports was attributed to the government's efforts. Agriculture is one of the four pillars supporting Cambodia's economy, contributing 24.4% to the country's GDP in 2021. Cambodia has also begun direct shipment of its fishery products to China after the General Administration of Customs approved the list of registered exporting companies. The ministry's policies focus on ensuring food security and finding export markets for high-quality agricultural products. (Source: Khmer Times)

The first eight months of 2023 saw the employment of about 60,000 Cambodians A report by the Cambodian Ministry of Labor and Vocational Training shows that 1,188 new enterprises have started operating in Cambodia, employing nearly 60,000 people. Of these, 79 are garment enterprises, creating 33,000 jobs, and 1,109 are non-garment enterprises, creating over 20,000. As of September 2023, Cambodia has over 17,600 registered factories, employing nearly 1.5 million workers. Prime Minister Dr. Hun Manet plans to meet with the private sector in November to improve the investment and business environment, attract more investment, and create new jobs. The Council for the Development of Cambodia issued a sub-decree in June 2023 to implement the Kingdom's investment law. The Ministry of Labor and Vocational Training is working on a mechanism to evaluate and review the criteria for a "safe community" to launch a competition campaign from 2024. (Source: Khmer Times)

Single portal handles 29,837 business registrations By October, 29,837 businesses with $8.76 billion in investment capital were registered in the first phase of the Online Business Registration System, known as Single Portal, under the Ministry of Economy and Finance (MEF). The construction sector led with over $1.09 billion in investment, followed by accommodation service and real estate at $943 million and $938 million, respectively. Other sectors include management consultant activities, manufacturing, financial and insurance activities. The system has reduced procedures, saved time and cost, and provided convenience for setting up private sector businesses in Cambodia. All registrations are automatically shared with relevant ministries and institutions for review and approval. Vice President of the Cambodia Chamber of Commerce, Lim Heng, said the single portal has streamlined business opening processes, saving time, money, and travel time. (Source: Khmer Times)

Corporate News

Wingmarket adds J&T Express Wingmarket, a free digital order taking and supply chain platform for corporate companies, distributors, wholesalers, retailers, and SMEs in Cambodia, has partnered with J&T Express to offer door-to-door delivery services nationwide. This strategic partnership enhances the online-to-delivery experience for customers, allowing them to access fully integrated pick-up service options directly on the platform. Wingmarket provides a comprehensive solution covering ordering, financing, payment, and delivery, enabling businesses to reach customers faster and more efficiently. J&T Express handles logistics by offering flexible doorstep pick-ups for Wingmarket users. Wingmarket's recent mention in the Product Innovation of the Year category at the Global SME Finance Award 2023 demonstrates its commitment to empowering SMEs and driving financial inclusion in the digital economy. (Source: Khmer Times)

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