Cambodia will expand its garment, footwear and travel goods (GFT) export market to more countries in its bid to remain competitive in the industry, especially in the wake of challenges from the European Union (EU) market, under a new policy directive for the sector. The country’s GFT Development Strategy 2022-2027, discussed recently during the launch […]
Read MoreLaunching a loan restructuring program, or similar initiatives such as loan repayment assistance or a loan moratorium, is common practice among ASEAN+3 governments responding to the financial distress caused by the COVID-19 pandemic. From a financial stability perspective, however, the loan restructuring program runs the risk of masking the true quality of loans. Banks are […]
Read MoreCambodia’s international reserves are broadly adequate, the Executive Board of the International Monetary Fund (IMF), which concluded the Article IV consultation with Cambodia, said. “The current account deficit in 2021 was mostly, but not fully, offset by similar magnitude of capital inflows along with valuation effects stemming from non-US$-denominated assets,” the directors said. They said […]
Read MoreThe International Monetary Fund (IMF) said on Monday that the Regional Comprehensive Economic Partnership (RCEP) trade pact and the Cambodia-China Free Trade Agreement (CCFTA) will support Cambodia’s economic growth over the medium term. The Cambodian economy is projected to grow at 5 percent in 2022 and nearly 5.5 percent in 2023, reflecting external pressures and […]
Read MoreDespite several international developments hurting the progress, Cambodia’s economic recovery is projected to continue in the next year as well, according to the International Monetary Fund (IMF). “Despite the new pressures, the recovery is projected to continue. Real GDP growth is forecast to be 5 percent in 2022, after the strong export performance earlier in […]
Read MoreThe garment sector in the Kingdom has received a boost as some big Japanese garment companies are making the move to shift their manufacturing and procurement bases from China to Cambodia and Vietnam due to rising costs and the Chinese government’s zero Covid-19 policy. This was revealed recently by Chea Vuthy, Deputy Secretary General of […]
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