The launch ceremony, held at the ministry early this week, was presided over by H.E. Mrs. Cham Nimul, Minister of Commerce, and attended by foreign ambassadors, representatives from relevant ministries and institutions, the private sector, and development partners.

A joint initiative of the Ministry of Commerce and the Centre for the Promotion of Imports from Developing Countries (CBI), the ESC aims to stimulate Cambodia’s exports, equip traders with export readiness, and instill confidence in their ability to compete internationally.

Through the ESC, exporters will gain access to training on export procedures and networking opportunities with experts and potential buyers in target markets, the ministry emphasized.

Cambodia’s export performance has been strong in the first three quarters of 2024, with goods valued at approximately US$19.8 billion, representing a 17 percent increase from the same period last year, according to the General Department of Customs and Excise of Cambodia.

The United States remains the largest market for Cambodian products, accounting for 38 percent of total exports with a value of US$7.6 billion. Vietnam follows as the second-largest market, with imports from Cambodia reaching US$2.7 billion, a 33.8 percent year-on-year increase. China is the third-largest market, with exports valued at US$1.27 billion, a 20 percent increase.

Cambodia’s primary export products include garments, machinery, electrical equipment, footwear, leather goods, grain, furniture, rubber, fruits, vegetables, pearls, toys, and textiles.

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The figures were shared by H.E. Mrs. Cham Nimul, Minister of Commerce of Cambodia, while presiding over the opening ceremony of the two-day “Sousdey Indonesia” expo, held at Koh Pich Convention and Exhibition Centre late last week.

With creative initiative such as Sousdey Indonesia as well as strong cooperation between the two government in new trade activities, H.E. Minister showed full confidence that 2024 will be even more substantial.

H.E. Mrs. Cham Nimul took the opportunity to encourage the private sector to join and organise theme events more frequently, both in Cambodia and in Indonesia, exploring potentials, untapped opportunities, and new partnerships.

She expressed appreciation and congratulated Indonesian Ambassador to Cambodia H.E. Santo Darmosumarto, the Embassy of the Republic of Indonesia in Phnom Penh and relevant stakeholders for organising “Sousdey Indonesia,” which has been a steadfast event in Phnom Penh since 2006, making this 2024 the 15th anniversary, which also marks the 65th anniversary of diplomatic relations between Cambodia and Indonesia.

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In her keynote address, H.E. Cham Nimul highlighted Cambodia’s vibrant and promising business climate. She emphasized the country’s remarkable economic growth, averaging over 7% annually for the past two decades. This success, she attributed to a strong foundation of political stability, sound economic policies, and a government that actively fosters public-private dialogue.

The MOC, working collaboratively with the MOT, is actively developing frameworks to facilitate competitive business operations and enhance the overall business environment.

Cambodia’s foreign direct investment (FDI) is projected to surge in 2024, reaching an estimated US$4.25 billion, which translates to roughly 9.0% of the country’s GDP. This optimistic forecast comes amidst a flurry of investment activity in key sectors.

Minister Cham Nimul encouraged investors to explore the vast potential Cambodia offers, from its growing economy and strategic location to its advancements in the digital sphere.

Cambodia’s commitment to digital transformation was also a key focus. The Minister highlighted several government initiatives, including the Cambodia Data Exchange (CAMdx), verify.gov.kh, the National Single Window, CambodiaTrade.com, the Digital Economy and Society Policy Framework, the Digital Skill Development Road Map, and digital payment systems like Bakong.

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On May 27th, a workshop titled “Beyond Borders: Bringing Cambodian Products to the Global Market Through Alibaba.com” attracted over 350 local entrepreneurs. H.E. Mrs. Cham Nimul, the Minister of Commerce, addressed the workshop, emphasizing the vast potential of Alibaba’s platform. She explained how it allows Cambodian businesses to showcase their products and increase export sales.

Alibaba.com provides a platform to enter the giant Chinese market, initially through retail sales. As highlighted by Mr. Lor Vichet, Vice President of the Cambodia-Chinese Commerce Association (CCCA), this initial step allows businesses to test the waters and establish brand recognition for Cambodian products.

He added, this could pave the way for future wholesale opportunities. The platform grants businesses the opportunity to showcase their products to a global audience. Listing products online allows businesses to tap into new international markets, leading to a significant boost in sales.

The Ministry of Commerce and Alibaba signed a Memorandum of Understanding in October 2023. This collaboration aims to directly sell Cambodian products in China and ASEAN countries through the eWTP Platform, further promoting e-commerce in Cambodia.

This partnership aligns with Cambodia’s broader strategy to propel its digital economy forward. The Royal Government of Cambodia is actively investing in infrastructure development and promoting e-commerce adoption among both businesses and consumers.

While Cambodia’s e-commerce sector is still young, it’s experiencing rapid growth. The partnership with Alibaba is expected to accelerate this growth and solidify Cambodia’s position as a key player in the region’s e-commerce landscape.

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H.E. Mrs. Cham Nimul, Minister of Commerce and Chairperson of the National Committee for Intellectual Property of Cambodia and Mr. KIM Shi Hyeong, Acting Head of KIPO, were the signatories.

The MoU signing ceremony took place in Seoul, the Republic of Korea on the afternoon of May 13 during the meeting between H.E. Mrs. Cham Nimul and Mr. KIM Shi Hyeong to discuss and exchange views on key issues, enhancing intellectual property (IP) cooperation training, according to the Ministry of Commerce.

In the meeting, H.E. Minister highlighted the importance of cooperation between the Ministry of Commerce and KIPO, which yielded remarkable results over the years particularly the signing of the MoU on Intellectual Property Cooperation, which is scheduled to be signed in the presence of the Leaders of the two countries.

H.E. Minister also highlighted the Royal Government of Cambodia’s commitment to further strengthening the protection and implementation of IP to promote the development of new products and services, creation and innovation to ensure a fair and competitive business and investment environment through the National Intellectual Property Policy 2023-2028 as a roadmap for IP development.

In the same afternoon, the Cambodian commerce minister also met with Mr. Yu Jeoung Yeol, President and CEO of KOTRA and colleagues.

Both sides highly appreciated the fruitful outcomes of the cooperation between Ministry of Commerce and KOTRA to strengthen and deepen economic and trade cooperation between the two countries, especially to encourage Korean investors to seek more investment and business opportunities in Cambodia by focusing on the high-value-added sectors for the production and economic growth such as digital technology, electronic and automotive components, and agriculture and food processing.

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H.E. Vongsey Vissoth, Deputy Prime Minister in charge of the Office of the Council of Ministers, chaired the official opening of the three-day fair on May 10 at Koh Pich Convention and Exhibition Centre in Phnom Penh.

Addressing the function, Minister of Commerce H.E. Mrs. Cham Nimul highlighted that the event serves as an important networking opportunity among key business operators and investors, both in the public and private sectors, and as an experience-sharing platform among all participants.

For Cambodia, she added, it is a good opportunity to showcase Cambodian products and services and to identify potential business partners and markets.

The minister also reaffirmed the Ministry of Commerce’s commitment to best support and facilitate investment, highlighting a range of reforms and favourable investment environments by the Royal Government of Cambodia.

In the first four months of 2024, Cambodia’s trade volume reached US$16.913 million, an increase of about 12 percent.

The country’s exports were US$8 billion, up 2 percent, implying Cambodia’s rising trade momentum, which is fostering national economic activity.

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The remarks were made by H.E. Mrs. Cham Nimul, Minister of Commerce and Chair of the National Committee for Intellectual Property, while she and H.E. Hem Vanndy, Minister of Industry, Science, Technology & Innovation, were presiding over the World Intellectual Property Day 2024, at Hyatt Regency Phnom Penh on April 30.

The commerce minister also requested all stakeholders to work together to prevent intellectual property infringement, which is an obstacle to innovation, and strongly hoped that the Intellectual Property Day 2024 will continue to cultivate a common spirit in promoting awareness raising campaigns, which is closely linked to the people’s lives and benefits all areas of society.

For his part, H.E. Hem Vanndy spoke highly of the World Intellectual Property Day, saying that it serves as an important platform to raise awareness about intellectual property, technological advancement and innovation among the public, especially innovators, researchers, and students.

At the end of the celebration, H.E. Mrs. Cham Nimul and H.E. Hem Vanndy presided over the launching ceremony of five intellectual property-related projects, including: 1) Inclusive Growth Project: Promoting Cambodian Entrepreneurs with Disabilities through Intellectual Property Education and Business Branding, (2) Project for Skill-based Learning and Mentoring for Design School, (3) Launch of IP Web Application, (4) Launch of Distance Learning Platform on Intellectual Property, and (5) Launch of Intellectual Property Analysis Programme for Business.

This year’s celebration of the World Intellectual Property Day 2024 was held under the theme “IP and SDGs: Building our common future with innovation and creativity.”

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Japanese Ambassador to Cambodia H.E. UENO Atsushi was also present on the occasion.

Samdech Thipadei Prime Minister expressed his congratulations to the inauguration of Toyota assembly plant, stressing that this is the new achievement of the Royal Government of Cambodia and reflects Japanese investors’ trust on the Kingdom’s investment environment.

“Toyota assembly plant is not only a testament to the industrial development in Cambodia, but also a positive sign for the country’s economic diversification,” he added.

With a total investment capital of nearly US$37 million, this new car assembly factory employs 150 people and can assemble 1,320 cars of two motels – Toyota Hilux Pickup (1,030 cars) and Toyota Fortuner SUV (290 cars) – for 2024.

Samdech Thipadei Hun Manet said he is one of the supporters of the two models. “Toyota Hilux Vigo was my first car, as I failed to order Toyota Fortuner. I have used it for ten years and it is still reliable,” he said.

The Premier underlined that besides food, Cambodia can produce clothes, then drinks, and now we have car assembly plant, therefore these are the fruitful outcome of the Royal Government’s commitment.

Apart from Toyota Tsusho Manufacturing, four other car companies, including HGB Motors Assembly, EM Automotive, GTV Motor, and China Matrix Technology, are structuring their production in preparation for opening their assembly plants in Cambodia, H.E. Mrs. Cham Nimul, Minister of Commerce, said in the 1st Auto Show 2024 held here last Saturday.

The new factories will bring the total vehicle assembly plants in Cambodia to nine. Other operational vehicle assembly factories include Hyundai in Koh Kong province, SsangYong in Svay Rieng province, FORD in Pursat province, and Isuzu in Kampong Speu province.

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The five car companies, including HGB Motors Assembly, EM Automotive, GTV Motor, Toyota, and China Matrix Technology, are structuring their production in preparation for opening their assembly plants in Cambodia H.E. Mrs. Cham Nimul, Minister of Commerce, said in the 1st Auto Show 2024 held here last Saturday.

Toyota will officially launch the operation of its assembly factory located in the Royal Group Phnom Penh Special Economic Zone this week.

“The Auto Show not only showcases the innovations and modernity of automobiles, but also reflects the rapid growth of the automotive sector in the fast-growing market in Cambodia,” she said.

The minister encouraged businesses and investment partners to consider expanding their business ventures and establishing production bases in Cambodia to benefit from ASEAN Plus trade agreements, trade preferences, national trade and investment facilitation framework; as well as investing in car factories, especially EVs, to supply the domestic market and for export.

The new factories will bring the total vehicle assembly plants in Cambodia to nine. Other operational vehicle assembly factories include Hyundai in Koh Kong province, SsangYong in Svay Rieng province, FORD in Pursat province, and Isuzu in Kampong Speu province.

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The intention was unveiled by visiting Dr. Jonathan K.S. Choi, also Chairman of the Greater Bay Area Entrepreneur Alliance, and Sunwah Group, accompanied by over 60 representatives from Guangdong-Hong Kong and Macao, while he was paying a courtesy call on H.E. Mrs. CHAM Nimul, Minister of Commerce, to discuss ways to further strengthen bilateral trade and investment cooperation between the two countries, especially to seek information on Cambodia’s trade regulations and requirements, at the ministry office on April 9.

For her part, H.E. Mrs. CHAM Nimul welcomed the above-said investment plans, and encouraged the Chinese delegation to engage in discussions and explore project feasibility with relevant Cambodian ministries and institutions.

The minister also reassured that the Ministry of Commerce had been ready to offer facilitation to all investors within established trade frameworks to promote the bilateral cooperation to the next level.

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