Cambodia received five billion US dollar in FDI in the past ten months

Economy and Industry

Cambodia received five billion US dollar in FDI in the past ten months During the first ten months of 2024, the Council for Development of Cambodia (CDC) approved 346 investments amounting to over $5 billion which represented an increase of 38% compared to the same period last year according to Chea Vuthy, Secretary General of the Cambodian Investment Board (CIB) of CDC. He expressed that the World Lin Chamber of Commerce (WLCC) and the Lin Clans Commercial Association in Cambodia (LCCAC) in conjunction with Royal Government of Cambodia will strive to attract more foreign investors to invest in Cambodia as both direct investments and partnerships with local investors with priority sectors such as agriculture and agro-industry, automobile and electronic manufacturing, industrial park and special economic zones (SEZs) development, tourism and hospitability, and green technologies. (Source: Khmer Times)

Cambodia-US trade reaches $8.45 billion in the first ten months of 2024 According to the General Department of Customs and Excise of Cambodia (GDCE), bilateral trade between Cambodia and the US has reached $8.45 billion in the period of January to October, representing a 9.7% increase for the same period in 2023. This was largely driven by a rise of 9.8% in exported goods from Cambodia worth $8.23 billion. Major export items to the US clothing, travel goods, bicycles and other consumer goods. This growth despite the difficult global economy highlighted the robustness and quality of Cambodian manufacturing sector according to Duch Darin, an economist and professor at the Royal School of Administration. (Source: Khmer Times)

Cashew nut exports to Vietnam rise 36% An official from the Cashew Nut Association of Cambodia (CAC) announced Cambodia saw a 36% increase in cashew nut export to Vietnam representing $1.11 billion. This rise was a reflection of the increase in cashew nuts production of 840,000 tonnes from January to October 2024, an increase of 26% compared to the previous year. Suy Kokthean, Vice President of the Cambodian Cashew Nut Association (CAC), expressed his enthusiasm at the possibility of Cambodia becoming the world's leading cashew nuts producer within the next four to five years, yet he also cited climate change as the biggest challenge for the industry due to the impact extreme weather can have on yields. (Source: Khmer Times)

Corporate News

AirAsia Cambodia launches new flight routes to Hanoi and Ho Chi Minh City Witnessing the successful launch of services between Siem Reap and Singapore, AirAsia Cambodia will begin operations on two new routes between Phnom Penh and key Vietnamese cities. A new route from Phnom Penh to Ho Chi Minh City will begin operations from December 22 and is scheduled to run four times weekly. A month later by January 24, 2025, another route from Phnom Penh to Hanoi is expected to launch and operate three times per week. This route expansion serves as a part of AirAsia Cambodia's strategy to improve connectivity within the ASEAN region, boost tourism, and increase economic opportunities. (Source: Khmer Times)

Stock Market

CSX index dips 0.31% amid mixed performance on November 18 On November 18, 2024, the CSX Index was down by 0.31%, closing at 403.5 points. Gains on the main board were led by PEPC (+2.11%), followed by PPAP (+0.90%), PPSP (+0.90%), and PAS (+0.71%). On the other hand, losses were recorded by PWSA (-1.85%), ABC (-0.57%), CGSM (-0.41%), and GTI (-0.40%). MJQE remained flat. On the growth board, JSL was up by 0.29%, while DBDE remained steady. The day saw a trading volume of 53,556 shares, with a turnover of KHR 296 million. (Source: YSC Research)

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