According to the Council for the Development of Cambodia (CDC), these figures highlight a robust investment climate. H.E. Chea Vuthy, Secretary General of the CDC’s Cambodian Investment Board, emphasized that this growth “reflects the confidence of investors in Cambodia’s peace, political stability and economic growth.”

H.E. Chea Vuthy further attributed this positive trend to the ongoing relocation of production bases within the ASEAN region, citing the Cambodian government’s proactive measures to enhance the investment environment.

The report revealed that ten of the approved projects, amounting to US$850 million, are strategically located within special economic zones.

Lim Heng, Vice President of the Cambodia Chamber of Commerce, credited the investment growth to the impact of trade agreements, particularly the Regional Comprehensive Economic Partnership (RCEP), and various trade preference schemes. He highlighted Cambodia’s increasing attractiveness as an investment destination within the region.

The post Cambodia Investment Surges 40% in 2024: “Reflects Investor Confidence” – CDC first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The Single Portal has reserved 19,094 company names, read the report, adding that two company applications have been rejected.

Construction sector tops the list, accounting for 10.8 percent of the total investment, followed by real estate 10.14 percent, accommodation service 9.5 percent, consulting service 5.72 percent, manufacturing 5.49 percent, and mixed sector 58.26 percent, the source stated.

Registration businesses managed by women represented 38 percent of the total businesses, it pointed out.

The establishment of the Online Business Registration System has so far contributed to reducing procedures, time, and cost in business registration and provided convenience in setting up private sector’s legal businesses in Cambodia, the Ministry of Economy and Finance said.

The increase in business registration reflects the reopening of the country, the resumption of all kinds of socio-economic activities under the effective government’s policies, said Mr. Lim Heng, Vice President of the Cambodian Chamber of Commerce.

“Registration via online platform contributes to facilitating the process of business registration and to build investors’ confidence in doing business in Cambodia,” he underlined.

Launched on June 15, 2020, the Single Portal-Phase 1 integrates business registration with the Ministry of Commerce, tax registration with the General Department of Taxation, and the issuance of enterprise openings at the Ministry of Labour and Vocational Training.

The phase 2 was officially launched on Sept. 1, 2021 and the phase 3 in June 2023.

The post Single portal registers 35,829 businesses with investment value of $10.77 billion first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The meeting was co-chaired by H.E. SEANG Thay, Secretary of State at the Cambodian Ministry of Commerce Commerce and Co-Chairman of the Cambodia-China Joint Industrial Park Construction Committee, and H.E. Liao Pinhu, Vice Governor of China’s Guangxi Zhuang Autonomous Region.

According to the Ministry of Commerce, the purpose of this first meeting is to introduce the members of the working group and to discuss the cooperation to promote the construction of the Cambodia-China Industrial Park both in the Guangxi Zhuang Autonomous Region and the Kingdom of Cambodia.

China is a major investor in Cambodia. Last year, Cambodia approved 268 investment projects and investment expansion projects with a total investment capital of US$4.9 billion. Investment from China ranked first, accounting for two thirds of the total investment capital, while domestic investment ranked second with 24 percent.

Vice-President of the Cambodia Chamber of Commerce Mr. Lim Heng attributed the increase in investment project to the country’s potential under the new investment law, free trade agreements, mega-regional pact, and trade preferences.

“The new investment law, along with free trade agreements – Cambodia-China FTA and Cambodia-Korea FTA, RCEP – are factors that attracted investment from China to Cambodia as part of production for exports to foreign markets,” he said.

The post Cambodia, China discuss joint industrial park construction first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

An official report showed last week, the total import-export turnover in January-March period of this year reached US$12.49 billion, a year-on-year increase of 11.9 percent, of which US$6,261 million were Cambodia’s exports and US$6,234 million were her imports.

The trade surplus of US$27 million has helped increase foreign exchange reserves, and stabilise macroeconomic indicators of the country.

The garment, footwear and travel goods industry is the largest foreign exchange earner for Cambodia. Other exported products are non-garment manufacturing products – electronic components, agricultural products, bicycles, and solar panels.

Mr. Lim Heng, Vice-President of the Cambodia Chamber of Commerce, attributed the trade surplus to the country’s huge international markets under trade agreements and trade preference schemes.

“This reflects the potential and high demand of Cambodia’s products abroad,” he said.

Ministry of Economy and Finance has projected the Kingdom’s economic growth at 6.6 percent in 2024 from 5.6 percent in 2023.

The country’s growth is mainly driven by garment export, tourism, agriculture, as well as construction and real estate.

Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia said the Cambodia’s strategic membership in key regional and global trade agreements positions the country as a highly integrated player within the dynamic global market.

“Made-in-Cambodia products, encompassing garments and bicycles, are now recognised worldwide for their quality and competitive pricing. This signifies Cambodia’s growing presence in the global marketplace,” the Prime Minister said on April 2.

The post Cambodia reaches record of trade surplus in Q1 first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The United States and Vietnam are the Kingdom’s top exporting destinations with shipment amount at US$1,985 million and US$1,392 million, up 8.9 percent and 53 percent, respectively, read the report.

The Regional Comprehensive Economic Partnership (RCEP) agreement and the free trade agreements with China and Korea have played important roles in promoting Cambodia-made products and contributed to attracting new foreign investment, said H.E. Penn Sovicheat, Secretary of State and Spokesperson at the Ministry of Commerce.

“Cambodia’s exports to the international market, particularly RCEP member states, have remarkably increased, making Cambodian products attractive in the long term,” he underlined. RCEP, Cambodia-China FTA, and Cambodia-Korea FTA came into force in 2022.

Mr. Lim Heng, Vice President of the Cambodia Chamber of Commerce, attributed the country’s export growth to huge potential of markets under the trade pacts and trade preference schemes.

“Free trade agreements, mega-regional pact, and trade preference schemes in the EU and US are potential for Cambodia’s products and are catalysts in attracting new investment for manufacturing products for exports,” he added.

The garment, footwear and travel goods industry is the largest foreign exchange earner for Cambodia. The sector consists of roughly 1,133 factories and branches, employing approximately 840,000 workers, mostly female.

Meanwhile, Cambodia’s total imports rose by 6.4 percent to US$6,234 million, the report pointed out. The country primarily imports raw and construction materials, automobiles, pharmaceuticals, electronic equipment, fertilisers and pesticides.

The post Cambodia’s exports reach $6.2 billion in Q1 first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The total investment capital of the approved projects in the first quarter rose by 649 percent year-on-year to US$2.2 billion, pointed out a CDC’s press release made public this morning.

The same source stated that the newly endorsed investment projects are expected to generate some 107,000 jobs for local people.

Breaking down by sectors, it underlined, investment in industrial sector got the largest share with 90.57 percent, while agriculture and agro-industry, infrastructure, and tourism accounted for 3.77 percent, 3.77 percent, and 1.89 percent, respectively.

About 58 percent of the total investment capital was from local investors, 35.34 percent from China, 3.16 percent from Singapore, 2.23 percent from Vietnam, and the rest from South Korea, the U.S. and Malaysia, the press release showed.

Vice-President of the Cambodia Chamber of Commerce Mr. Lim Heng attributed the increase in investment project to the country’s potential under the new investment law, free trade agreements, mega-regional pact, and trade preferences.

“The new investment law, along with free trade agreements – Cambodia-China FTA and Cambodia-Korea FTA, RCEP – are factors that attracted investment from China to Cambodia as part of production for exports to foreign markets,” he said.

The post CDC approves US$2.2 billion-worth investment projects in first quarter Of 2024 first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

Ambassador Darmosumarto expressed Indonesia’s commitment to boosting trade in agricultural products and direct investment in Cambodia. He highlighted key projects and upcoming events, including health product exhibitions in Phnom Penh and Sihanoukville; a general trade exhibition in the coming months; and a major trade fair and business forum in Jakarta, Indonesia, in October.

He sought the Cambodian Chamber of Commerce’s support in encouraging Cambodian businesses to participate in these events, aiming to solidify economic ties between the two nations.

Duke Lim Heng responded warmly, acknowledging the events’ potential to spur trade and investment growth. The discussion also explored broader cooperation, with both sides acknowledging the potential and investment opportunities in various Cambodian provinces.

Duke Lim Heng extended an invitation for the Ambassador to visit each province firsthand, gaining deeper insights into Cambodia’s business landscape.

This meeting reflects the strengthening relationship between Indonesia and Cambodia. Indonesia already ranks as the sixth largest foreign investor in Cambodia, contributing to a two-way trade volume exceeding US$948 million in 2022.

Notably, Cambodian exports to Indonesia saw a remarkable 112% surge in 2023, reaching $70.56 million. With continued collaboration and initiatives like those proposed by Ambassador Darmosumarto, these positive trends are expected to continue.

The post Indonesia strengthens ties with Cambodia through trade and investment initiatives first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

An official report showed that in terms of investment value, the construction sector took the lead with an investment of more than US$1.13 billion, followed by accommodation service and real estate at US$1 billion each.

Other sectors include management consultant activities, manufacturing, financial, and insurance activities, the report said.

The single portal has contributed to easing business opening processes, said Mr. Lim Heng, Vice President of the Cambodia Chamber of Commerce.

“Registering businesses online saves time and money and reduces travel time and cost,” he said.

MEF launched the first phase of the Online Business Registration platform on June 15, 2020, and the second phase on Sept. 15, 2021.

The third phase of the registration system, integrating the service of issuing licenses, certificates, professional licenses, and other relevant documents from 12 ministries and institutions, was launched last month.

The establishment of the Online Business Registration System has so far contributed to reducing procedures and saving time and cost in business registration and provided convenience in setting up private sector businesses in Cambodia.

According to MEF, the system cuts down complex procedures and repetition of information and saves time and cost.

All registrations are automatically shared with the relevant ministries and institutions for review and approval, ensuring that all departments are kept in the loop.

The post Single portal processes 32,417 business registrations first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The Cambodia Chamber of Commerce (CCC) organised on Jan. 5 a preparatory discussion meeting for the upcoming summit. The meeting was chaired by Neak Oknha Kith Meng, CCC President and Co-chair of the ASEAN Business Advisory Council, and CCC members as well as relevant stakeholders.

The summit will be presided over by Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia with the participation of directors, entrepreneurs, investors and experts from all sectors across ASEAN and the world, the CCC said in a statement.

The preparatory discussion was focused on collecting inputs and cooperation from all stakeholders, especially the Cambodian Chamber of Commerce and the International Trade Association, for the ASEAN-Cambodia Business Summit to be successful and promote investment in Cambodia, which is the core hub of ASEAN.

The meeting also discussed the common theme of the business summit agenda, the content of each programme topic, the establishment of technical committees, the invitation of speakers and experts, the preparation of other programmes and the logistics supporting the entire programme.

As planned, various topics will be discussed, including an analysis of the economic challenges and opportunities in Cambodia, to enable a favourable business environment for growth and foster economic integration within the region and beyond.

The rest of the agenda featured presentations, panel discussions, experience-sharing workshops and networking.

Cambodia hosted the ASEAN-Cambodia Business Summit 2023 in November last year under the theme “Connectivity is Growth in the Mekong Region”.

The post ASEAN-Cambodia business summit to be held in Phnom Penh in March first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The approved investment projects registered a total investment capital of US$4.9 billion, a 22 percent increase over 2022, read a CDC report.

The approved investment projects created some 307,000 jobs for local people, the source added.

Breaking down by sectors, it pointed out, that 92 percent of the 268 investment projects cover the industrial sector, while the rest are in agriculture and agro-industry, tourism sector, and infrastructure.

Investment from China ranked first, accounting for two-thirds of the total investment capital, while domestic investment ranked second with 24 percent.

Vice-President of the Cambodia Chamber of Commerce Mr. Lim Heng attributed the increase in investment registration to the country’s investment potential under the new investment law, free trade agreements, mega-regional pact, and trade preferences.

“The new investment law, along with free trade preferences – Cambodia-China FTA and Cambodia-Korea FTA, RCEP – are factors that attracted investment from China to Cambodia, particularly in production for export to foreign markets,” he said.

The post CDC approves new investment projects worth nearly $5 billion in 2023 first appeared on Estatedia | Economy & Real Estate Media in Cambodia.