The government intends to secure $2.6 billion in loans from development partners in 2025

Economy and Industry

The government intends to secure $2.6 billion in loans from development partners in 2025 Cambodia plans to borrow $2.6 billion from development partners in 2025 to fund public investment projects, aiming to drive long-term sustainable economic growth and boost productivity. The draft law specifies that these funds will be obtained through concessional loans with preferential interest rates, with the Minister of Economy and Finance holding the exclusive authority to sign loans for public investment financing. Despite challenges from the Covid-19 pandemic and external pressures, Cambodia's public debt remains manageable and classified as low risk. The country's robust public debt management system-encompassing a comprehensive legal framework, well-defined policies, strategic planning, institutional capacity, skilled human resources, and advanced IT systems-supports debt sustainability. The Royal Government of Cambodia has also introduced strategic measures, including five key principles, to strengthen public debt and investment management. As of Q2 2024, Cambodia's total public debt stands at $11.27 billion, with 99% in external debt and 13% in domestic debt. (Source: Khmer Times)

Ministry of Commerce launches initiative to establish trademark center The Cambodian Ministry of Commerce and the Korea International Cooperation Agency (KOICA) have partnered to establish a National Trademark and Brand Management Centre, aimed at fostering a sustainable digital ecosystem. The agreement was formalized in a meeting led by KOICA Country Director Choi Moon Jung and Secretary of State Ouk Prachea. From November 18 to 22, Korean experts will conduct an initial survey to assess the project's feasibility and develop a detailed implementation plan. This collaboration is essential for the project's success, as it seeks to strengthen Cambodia's economic resilience and drive innovation, building a foundation for a digitally empowered future. Prachea expressed appreciation to KOICA and welcomed the feasibility study on the Department of Intellectual Property proposal from the Ministry of Commerce. The initiative also aims to promote the registration of Cambodian geographical indications, improve intellectual property rights protection, and elevate Cambodian product branding in both domestic and international markets. (Source: Khmer Times)

Cambodia advances fintech strategic plan The Non-Bank Financial Services Authority (NBFSA), the Private Sector Working Group, and the Cambodia Chamber of Commerce (CCC) recently held a consultative workshop to formulate a 'Financial Technology (Fintech) Strategic Development Plan' for the non-bank financial sector for the 2024-2028 period. The event included notable attendees such as Mey Vann, Secretary of State of the Ministry of Economy and Finance, Kith Meng, President of the CCC, along with representatives from the private sector and the Asian Development Bank. This initiative aligns with the Cambodian Government's Pentagonal Strategy - Phase 1, which supports Cambodia's Vision 2050 by designating 'Financial Technology Development' as the fifth element under the pillar of "Economic-Socio Digital Development." NBFSA has prepared a draft of the Fintech Strategic Development Plan for the Non-Bank Financial Sector 2024-2028, with goals to drive innovation and promote digital transformation in the sector. (Source: Khmer Times)

Corporate News

AirAsia Cambodia launches nonstop service to Singapore AirAsia Cambodia has launched its first flight from Siem Reap to Singapore, marking a significant milestone in the airline's international expansion. The direct route provides seamless connectivity between the two popular travel destinations, enhancing traveler convenience and fostering cultural and economic exchange. Flight KT 320, the inaugural flight, departed from Siem Reap Angkor International Airport and arrived at Singapore Changi Airport's Terminal 4. The airline's CEO, Vissoth Nam, praised the new route as a way to stimulate air travel, support local economies, and strengthen regional ties. The airline also launched its first return flight from Singapore to Siem Reap. Siem Reap, Cambodia's top tourist destination, is renowned for its UNESCO heritage sites, including Angkor Wat. (Source: Khmer Times)

Stock Market

CSX index falls 0.12% with GTI as sole gainer on main board On November 11, 2024, the CSX Index declined by 0.12%, closing at 401.0 points. GTI was the sole gainer on the main board with a 9.09% increase, while PEPC (-2.07%), PPSP (-1.34%), MJQE (-0.49%), CGSM (-0.41%), PAS (-0.35%), and PPAP (-0.15%) recorded losses. PWSA and ABC ended the day unchanged. On the growth board, both DBDE and MJQE held steady. The day's trading volume totaled 83,863 shares, with a turnover of KHR 407 million. (Source: YSC Research)

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