Cambodia generates $1.5 billion from rice export revenue

Economy and Industry

Cambodia generates $1.5 billion from rice export revenue Cambodia generated over $1.5 billion from paddy and milled rice exports in the first ten months of this year, according to a report by the Cambodia Rice Federation (CRF). From January to October, the country exported 502,029 tonnes of milled rice to 66 international markets, bringing in $376 million. The report noted that 26 European Union countries collectively imported 254,945 tonnes, valued at $196 million. Seven ASEAN nations bought 100,996 tonnes of Cambodian milled rice, contributing $66 million, while China purchased 93,197 tonnes, amounting to $61 million. Other destinations received a total of 57,891 tonnes, valued at $51 million. CRF President Chan Sokheang highlighted that enhanced production, storage, and quality standards have driven the growth of Cambodia's rice exports worldwide. (Source: Khmer Times)

Seventeen major Yunnan companies set to enhance Cambodian tourism Seventeen private companies from Yunnan Province have committed to promoting Cambodia's emerging tourist destinations, enhancing joint marketing initiatives, organizing collaborative events, and designing new tour packages to draw more Chinese tourists from Yunnan, especially to Siem Reap. During a meeting on November 6, 2024, with Minister of Tourism Huot Hak, held amid Cambodian Prime Minister Hun Manet's summit engagements, the companies-including tour operators, tourism developers, and the Siem Reap Angkor International Airport-agreed to support tourism growth. The minister emphasized Cambodia's tourism potential, investment prospects, and available government incentives. The companies will coordinate site visits, promote Cambodian tourism, host joint events, and develop specialized tour packages. (Source: Khmer Times)

Government's cash flow management in Q3 praised for effective execution The Royal Government's cash flow management for Q3 2024, spanning July to September, has garnered widespread praise, as noted by the Ministry of Economy and Finance (MEF). Despite global economic challenges affecting revenue collection, the MEF confirmed that cash flow was effectively managed. Key reforms included the adoption of the 2024-2028 Public Debt Management Strategy, updates to revenue collection approaches, and expanded management of state property titles through newly issued government patents. Progress has also been made in implementing the Financial Management Information Systems (FMIS), State Asset Register Management Information System (SARMIS), and Non-Tax Revenue Management Information System (NRMIS) across commune administrations nationwide. Deputy Prime Minister expressed appreciation for the efforts of the Public Financial Management Reform Steering Committee and various MEF units, crediting them with the Q3 achievements. The reform program is now in its final phase, emphasizing "performance accountability" through 2027. (Source: Khmer Times)

Corporate News

HEINEKEN Cambodia elevates stout brewing with the launch of ABC Smooth Stout HEINEKEN Cambodia has introduced ABC Smooth Stout, expanding its product range with a new twist on its popular premium stout. Designed to appeal to both loyal fans and newcomers to stout, ABC Smooth delivers a balanced, sessionable taste with reduced bitterness, retaining the signature richness of a classic stout. Brewed with high-quality ingredients-roasted malted barley, hops, yeast, and water-it has a 5.3% ABV. This new variant refreshes the traditional stout category with a smoother, more approachable profile while upholding premium quality. The bold gold can design highlights ABC Smooth's premium positioning, appealing to consumers who enjoy a unique style. Available from November 2024, ABC Smooth will be accessible nationwide across Cambodia in supermarkets, convenience stores, bars, restaurants, pubs, hotels, and entertainment venues. (Source: Cambodia Investment Review)

Stock Market

CSX index declines 0.38%, with notable gains in GTI, CGSM, and PAS On November 8, 2024, the CSX Index decreased by 0.38%, closing at 401.5 points. Gains on the main board included GTI (+0.92%), CGSM (+0.41%), and PAS (+0.18%), while ABC (-1.97%) and PWSA (-0.63%) posted losses. PPAP, PPSP, and MJQE remained unchanged. On the growth board, DBDE and MJQE held steady. The day's trading volume reached 123,001 shares, with a turnover of KHR 665 million. (Source: YSC Research)

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