Significant increase in Cambodia's EV registrations in 2024

Economy and Industry

Significant increase in Cambodia's EV registrations in 2024 Cambodia experienced a significant increase in electric vehicle (EV) registrations in 2024, with a total of 2,253 EVs registered, marking a 620% rise from the previous year. The most popular EV brands in Cambodia are BYD from China, Toyota from Japan, and Tesla from the United States. The Ministry of Public Works and Transport highlighted the benefits of EVs, including fuel cost savings and reduced carbon emissions. The country currently has 21 EV charging stations according to the ministry. The growing popularity of EVs is attributed to government incentives and increased consumer awareness of their environmental benefits. This initiative is part of Cambodia's broader strategy to promote sustainable transportation and reduce the country's reliance on fossil fuels. (Source: Khmer Times)

Cambodia's economy expected to grow by 6.3% in 2025 Cambodia's economy is projected to grow by 6.3% in 2025, driven by the industrial, service, and agricultural sectors. The Gross Domestic Product (GDP) is expected to reach approximately $51.39 billion, with a per capita income of $2,924. The industrial sector is anticipated to expand by 8.6%, while the service and agricultural sectors will also contribute to the growth. Inflation is projected to be around 2.5% in 2025. The government's economic policies aim to create a favorable business environment, encourage foreign investment, and support small and medium-sized enterprises. Additionally, efforts are being made to improve the country's education and healthcare systems to ensure sustainable long-term growth. (Source: Khmer Times)

ARDB provides nearly $500 million in loans to agriculture sector The Agricultural and Rural Development Bank (ARDB) of Cambodia has provided $493 million in loans to the agricultural sector as of December 2024. These loans aim to support cultivation, breeding, and processing activities, thereby boosting production and exports. The government, through the Ministry of Economy and Finance, has facilitated these loans to enhance agricultural productivity and access to international markets. The loans have also helped farmers adopt modern farming techniques and technologies, improving overall efficiency and yield. This initiative is part of the government's broader strategy to strengthen the agricultural sector and ensure food security. (Source: Khmer Times)

Corporate News

LOLC achieves over $1 billion in total deposit balance in Q4 2024 LOLC (Cambodia) Plc, a leading microfinance institution, surpassed $1 billion in total deposit balance by the end of the fourth quarter of 2024. This milestone reflects the strong relationship between LOLC and its customers, as well as the institution's ability to provide tailored financial solutions. LOLC serves over 530,577 deposit customers through its 83 branches nationwide. The institution's success is attributed to its commitment to financial inclusion, customer care, and the development of effective financial products. LOLC continues to enhance financial literacy within the community, contributing to the growing savings habits of the Cambodian people. This achievement underscores LOLC's role in promoting economic development and financial stability in Cambodia. (Source: Phnom Penh Post)

Stock Market

CSX index up 0.27%, trading volume exceeds 52,000 shares The CSX Index edged up by 0.27%, closing at 408.6 points. On the main board, GTI (+3.17%), PPAP (+1.48%), ABC (+0.55%), PWSA (+0.32%), and PAS (+0.17%) led the gains, while PEPC (-0.43%) and PPSP (-0.47%) posted declines. MJQE and CGSM remained unchanged. On the growth board, JSL ended flat, while DBDE slipped by 0.49%. The session recorded a total trading volume of 52,396 shares, with a turnover of KHR 299 million. (Source: YSC Research)

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