New factory openings totalled 221 in 2020 according to the Ministry of Industry, Science, Technology and Innovation. The ministry also reported that 100 closed down from COVID-19 related factors. The total number of factories in the Kingdom at year’s end was 1,853. These factories employed 900,000 local workers, said the ministry’s Secretary of State Heng […]
Read MoreAgriculture Minister Veng Sakhon yesterday reiterated a call for authorities to prevent the smuggling of farmed fish from neighbouring countries to supply local demand. The move is to protect the local farmed fish industry. Sakhon made the call during a visit to the farmed fish zone in Phnom Penh’s Prek Pnov district. He also called […]
Read MoreCambodian importers and buyers of the Kingdom’s travel goods to the US are now required to pay import duties as the latter’s Generalised System of Preferences (GSP) preferential tariff system expired on December 31 and is awaiting renewal by Congress. The US Congress’ delay affects all 119 designated beneficiary countries and territories – Cambodia included […]
Read MoreThe National Bank of Cambodia (NBC) said declines in personal income and savings in 2020 pose the primary risk for a potential increase in personal debt in the Kingdom in 2021, according to its Macroeconomic and Banking Sector Update 2020 report. Consumer loan balances, as of September 2020, stood at $9.11 billion, according to Credit […]
Read MoreThe Ministry of Commerce has put forward a recommendation that a reduction of import tariffs on mechanical and electrical products and spare parts be undertaken in order to lower production costs in the manufacturing and assembly sector. According to a survey conducted by the ministry, current Cambodian import tariffs on these products and parts are […]
Read MoreDairy has not typically been a popular food group in Cambodia, with production and availability in the Kingdom only starting during the French colonial era. Although the dairy cattle market has gained traction, with a growing number of stakeholders looking to invest, the industry faces a huge obstacle: namely, that 68 percent of the Cambodian […]
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