Cambodia-China trade continues to rise in the first fourth months of 2024

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CSX index experiences slight decline with MJQE faces significant drop On May 13, 2024, the CSX index closed trading at 414.3 points, marking a 0.07% decrease from the previous day. Main board activity showed mixed results, with gains in PPAP (+1.06%), PAS (+0.48%), CGSM (+0.42%), PWSA (+0.28%), and ABC (+0.26%), while MJQE (-6.33%) experienced declines. GTI, PPSP, and PEPC remained unchanged. On the growth board, DBDE was down 0.46%, and JSL was up 0.25%. Total trading volume reached 120,047 shares, with a cumulative trading value of KHR 530 million. (Source: YSC Research)

Economy and Industry

Cambodia-China trade continues to rise in the first fourth months of 2024 Cambodia-China trade has witnessed a 15.1% increase in the first four months of 2024, reaching $4.48 billion, according to a report by Cambodia's General Department of Customs and Excise. China remains Cambodia's top trading partner, followed by Vietnam, the United States, Thailand, and Japan. The Regional Comprehensive Economic Partnership agreement and the Cambodia-China Free Trade Agreement (CCFTA), in effect since 2022, have played significant roles in driving this growth. The preferential tariffs provided by these trade pacts have enabled Cambodia's high-quality agricultural produce to access lucrative markets in China. This growth can be attributed to the strong economic and trade relations between the two countries. (Source: Khmer Times)

$30 million credit guarantee scheme for rice signed Cambodia's Credit Guarantee Corporation of Cambodia (CGCC), Cambodia Rice Federation (CRF), and participating financial institutions (PFIs) have signed an agreement on the $30 million Rice Export Guarantee Scheme (REGS). The scheme aims to increase the productivity and competitiveness of Cambodia's rice industry and boost rice exports in line with the Royal Government of Cambodia's policy on agriculture. The scheme will address the financing needs of rice exporters and millers without collateral, especially during the harvest season. The government's commitment to support Cambodian rice production and exports through the public credit guarantee scheme, operated by CGCC, is reflected in the scheme's features, including lower guarantee fees, higher guarantees, and loan interest rates not exceeding 11% a year. The scheme is expected to help millers expand their businesses and use by-products for other sectors. (Source: Khmer Times)

Visa launches SMB Online Toolkit to help tourism merchants maximize the benefits of contactless payments Visa, a global leader in digital payments, is introducing resources to Cambodian merchants and small and medium-sized businesses (SMBs) to optimize the customer shopping experience and increase sales, particularly in the tourism sector. The toolkit offers detailed instructions in Khmer and English, including a script for cashiers on how to initiate and complete digital payment transactions. According to Visa's latest Global Travel Intentions (GTI) study, 97% of Asia Pacific travelers opt for contactless payments, with the number of travelers bringing cash decreasing by 60% post-pandemic. The toolkit also explains that most Visa cards have the contactless feature, allowing customers to tap the terminal themselves to make payments. Visa's enhanced dispute resolution process protects small businesses and consumers, fostering trust and improving the efficiency of Cambodia's burgeoning digital payments and e-commerce sector. (Source: Khmer Times)

Corporate News

Hainan Litree intends to invest as much as $100 million to the clean water sector in Cambodia Hainan Litree Purifying Technology Co., Ltd., a global membrane technology company, has expressed interest in investing in Cambodia's clean water sector. Established in 1992, the company has a global presence and is renowned for its "Litree Brand" water purification equipment, benefiting over 3 million households worldwide. In Cambodia, Litree's UF membrane products contribute to treating 11,000 cubic meter per day of drinking water. The company plans to invest $50-100 million in the water supply industry over the next 3-5 years. Minister Hem Vanndy welcomed the company's initiative to expand its investment in underserved areas lacking access to public or private water services. He encouraged Litree to explore opportunities for bulk water supply to private water operators. The company's innovative membrane systems, containerized solutions, and public water safety services align with Cambodia's sustainable development and environmental stewardship goals. (Source: Khmer Times)

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