Korean FDI is the second largest in Cambodia, according to Ambassador Park

Economy and Industry

Korean FDI is the second largest in Cambodia, according to Ambassador Park Korea ranks as the second-largest source of Foreign Direct Investment (FDI) in Cambodia, with over 40% of its total investment concentrated in the banking and financial sectors, according to Korean Ambassador Park Jung-Wook. During a meeting with Chea Serey, Governor of the National Bank of Cambodia (NBC), Park highlighted the strong investment ties between the two countries and praised NBC's advancements in the financial sector, particularly the development of a digital payment system using QR codes. He also called for continued support and cooperation from relevant ministries and institutions in areas such as banking, finance, and cybersecurity. Governor Chea Serey expressed gratitude for Korea's technical assistance and training programs, which have bolstered NBC's monetary policy effectiveness. Additionally, Ambassador Park met with Cambodia's Prime Minister, where he expressed Korea's growing interest in investing in Cambodia following the Prime Minister's recent visit to Seoul. (Source: Khmer Times)

Cambodia-Vietnam trade hits $4.6 billion in the first seven months of 2024 Cambodia's trade relations with Vietnam surged by 23.5% YoY in the first seven months of this year, surpassing $4.6 billion. This growth is largely due to the increased demand for Cambodian products, including garments, accessories, machinery, rubber, and agricultural goods. Cambodia's exports to Vietnam rose to over $2.2 billion, marking a 37.7% YoY increase, while imports from Vietnam reached approximately $2.4 billion, up 12.9% YoY. These strong trade figures contribute to Cambodia's global trade expansion, with total exports reaching $14.7 billion from January to July 2023. The United States remains Cambodia's top trading partner, with exports over $5.5 billion, a 6.4% increase, followed by China, with exports exceeding $975 million, up 19.7% YoY, and Japan, with exports valued at over $764 million, a 16.7% YoY rise. (Source: Khmer Times)

Cambodia's trade with RCEP countries reached nearly $20 billion in the first seven months of 2024 Cambodia's trade with RCEP countries totaled $19.87 billion in the first seven months of 2024, reflecting a 16.8% rise compared to the same period last year, according to a report from the Ministry of Commerce. Trade with RCEP members made up 63% of Cambodia's total trade volume during this period. The Kingdom exported $5.2 billion worth of goods to RCEP countries, marking a 13.2% YoY increase, while imports from RCEP countries grew by 18% YoY to $14.67 billion. The top five trading partners under the RCEP framework are China, Vietnam, Thailand, Japan, and Singapore. RCEP, which includes 15 Asia-Pacific countries, plays a significant role in driving Cambodia's trade growth and attracting foreign direct investment, according to Secretary of State Penn Sovicheat from Cambodia's Ministry of Commerce. (Source: Khmer Times)

Corporate News

Royal Group International and Marriott International unveil plans for the Ritz-Carlton 6-Star hotel and branded residences in Cambodia Royal Group International has joined forces with Marriott International to bring The Ritz-Carlton to Cambodia, marking a milestone for the nation's hospitality industry. The upcoming dual-branded hotel and residence will be strategically situated on Norodom Boulevard, one of Phnom Penh's most prestigious addresses. This development will feature a sophisticated blend of luxury residences, office spaces, and a five-star hotel, setting a new standard for upscale hospitality in Cambodia. The Ritz-Carlton Phnom Penh is poised to become a landmark, offering guests stunning views of iconic sites such as the Royal Palace and the Mekong River. The project is in line with the Cambodian government's urban development goals and aligns with Prime Minister Hun Manet's vision of tourism as a key economic growth driver. With state-of-the-art amenities, five fine dining restaurants, and personalized services, The Ritz-Carlton Phnom Penh is set to redefine luxury in the region. The project is anticipated to generate substantial employment opportunities, attract international investment, and elevate the standards of Cambodia's real estate industry, thereby boosting investor confidence. (Source: Cambodia Investment Review)

Stock Market

CSX index edges up 0.20% with mixed stock performance on August 15, 2024 On August 15, 2024, the CSX Index closed at 413.9 points, marking a modest 0.20% increase from the previous day. Notable gains were recorded in GTI (+1.39%) and ABC (+0.81%), while PEPC (-1.63%), PPSP (-0.87%), and PPAP (-0.41%) experienced losses. PWSA, PAS, MJQE, and CGSM remained unchanged. On the growth board, DBDE and JSL dropped by 0.48% and 1.43%, respectively. The total trading volume for the day was 209,279 shares, with a cumulative trading value of KHR 817 million. (Source: YSC Research)

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