The Bakong system, the interbank transaction platform of the country launched by the National Bank of Cambodia (NBC), has helped with the de-dollarization efforts of the central bank through payments using KHQR and also by promoting cross-border payments. Although digital use of the riel has increased since Bakong’s launch, NBC also stressed that Bakong alone […]
Read MoreCambodia’s exports to India went up by 67 percent during the first quarter (Q1) of the year, the fastest growth among the top 20 countries that export from the Kingdom. For comparison, the exports to China went up by only 2.1 percent and to the US, they declined by 15.2 percent during the same period. […]
Read MoreWhile improving their livelihood, Cambodian migrant workers, including those in the Republic of Korea (RoK), have significantly contributed to boosting the national economy. The note was highlighted by Ith Samheng, Minister of Labour and Vocational Training while presiding over the celebration of Khmer New Year “Moha Sankrata” in Uijeongbu, RoK on April 16. Cambodian workers […]
Read MoreRubber exports from Cambodia surged by 42.8 percent in the first quarter of 2023 compared to the same period last year and brought the country $168 million. The earnings from the export of natural rubber and rubber articles in the first quarter of 2022 were only $117 million. According to the latest trade data of […]
Read MoreFor the last several years Cambodia’s has been fast-tracking development with once-sleepy beach towns like Sihanoukville turned into bustling cities with more than 70 skyscrapers most built since 2016 with Chinese investment. The Asian Development Bank estimates the Cambodian economy to grow at 5.5% in 2023 and 6.0% in 2024 on a more robust tourism […]
Read MoreA year after Cambodia’s Independence from the French protectorate, National Bank of Cambodia (NBC) was established on December 23, 1954, to gain autonomy in printing riel as the national currency and managing the banking system in the country. However, NBC was closed due to the Khmer Rouge regime (1975 – 1979) that destroyed the central […]
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