CamDX usage rises by 13% YoY, reaching 17.3 million transactions

Economy and Industry

CamDX usage rises by 13% YoY, reaching 17.3 million transactions Cambodia's Cambodia Data Exchange Platform (CamDX) has experienced a 13% YoY increase in usage, reaching 17.3 million digital transactions as of July 2024. CamDX supports digital services for both the government and private sectors, helping to reduce identity fraud and prevent terrorism in Cambodia's airspace. The platform facilitates secure, multilateral data exchange between various IT systems and has processed a total of 45.7 million transactions to date. The government is encouraging more businesses and relevant ministries to integrate with CamDX and the National Single Window, which aims to promote e-governance, expedite documentation, and streamline certificate issuance and clearance processes within the excise department. Additionally, CamDX is being utilized for the Global Travel Assessment System (GTAS) and the electronic Know Your Customer (eKYC) system. (Source: Khmer Times)

Cambodia reports a 39.3% increase in Chinese tourists visiting the renowned Angkor in the first half of the year Cambodia's Angkor Archaeological Park has experienced a notable rise in Chinese tourists in the first half of 2024, as reported by the state-owned Angkor Enterprise. The report indicates that 38,066 Chinese visitors toured Angkor between January and June 2023, marking a 39.3% increase from 27,308 in the same period the previous year. China ranked as the fifth largest source of international tourists to Angkor, following the United States, Britain, France, and South Korea. This UNESCO-listed park, located in northwest Cambodia's Siem Reap province, is home to 91 ancient temples dating from the ninth to the 13th centuries. Top Sopheak, Secretary of State for the Cambodian Ministry of Tourism, expressed enthusiasm for welcoming more Chinese tourists to Angkor, emphasizing its importance for tourism development, economic growth, and poverty reduction. He remains optimistic about the potential of the Chinese-invested Siem Reap Angkor International Airport, which commenced commercial operations in November 2023, and hopes the 2024 Cambodia-China People-to-People Exchange Year will further boost Chinese tourism to the region. (Source: Khmer Times)

Koh Kong Airport to start domestic flights in August Dara Sakor International Airport in Koh Kong province's Botum Sakor district is set to commence domestic flights in August, as announced by Sin Chansereyvutha, Under-Secretary of State of the State Secretariat of Civil Aviation (SSCA). The airport is nearly complete and ready to begin its first phase of operations, catering to 2B aircraft charter flights and light aircraft weighing up to 5,700 kg. Barring any changes, domestic flight operations are expected to start in late August 2024. Once fully operational, the airport will be capable of handling long-haul aircraft such as the Boeing 777 and Airbus A340. Cambodia currently has three airports: Phnom Penh International Airport, Siem Reap Angkor International Airport, and Sihanouk International Airport. The government also plans to build domestic airports in Battambang and Mondulkiri provinces. Cambodia presently hosts 31 domestic and international airlines from eight ASEAN countries, China, South Korea, Hong Kong, Taiwan, Qatar, and the United Arab Emirates. (Source: Khmer Times)

Corporate News

Sun Chanthol urges ADATA Technology to explore potential investment opportunities in the technology sector Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), welcomed ADATA Technology CEO Simon Chen to Cambodia to explore the country's investment potential. Chanthol emphasized Cambodia's political and macroeconomic stability, low inflation, pre-COVID average economic growth of 7%, youthful labor force, extensive market access through trade agreements, and government-supported infrastructure for private sector transport and logistics. He encouraged ADATA Technology to consider investing in technology or other promising sectors in Cambodia. Chen expressed gratitude for Chanthol's insights and committed to evaluating Cambodia's investment opportunities with the CDC's guidance. (Source: Khmer Times)

Stock Market

CSX index rises slightly amid mixed stock performance On July 4, 2024, the CSX index closed at 414.4 points, up 0.09% from the previous day. On the main board, PPAP saw a significant gain of 9.96%, followed by PEPC (+2.27%), PPSP (+1.33%), and ABC (+0.53%). In contrast, PAS dropped by 3.10% and PWSA by 1.13%, while GTI and CGSM closed at their opening prices. On the growth board, DBDE gained 0.49%, but JSL declined by 2.11%. The total trading volume reached 137,695 shares, with a cumulative trading value of KHR 956 million. (Source: YSC Research)

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