Business & Tech News Brief in Cambodia on 16-18 Jun 2021

Here are the compilation of the news brief about business and technology in Cambodia from various news outlets, published on 16-18 June 2021. You can stay informed with me by following our Facebook page or Telegram channel.

List of Important News Brief on Business and Technology in Cambodia 16-18 June 2021

1. Cambodia generates $4 million from cassava exports per year

Cambodia generates from $3.5 to 4 million a year from the exports of fresh cassava and cassava starch and chips. Cassava is considered the second most important crop in Cambodia, after paddy rice.

In 2020, cassava was grown on a total land area of 663,929 hectares, producing 12,680,987 tonnes or 20.55 tonnes per hectare. Source: KhmerTimes (PDF)

2. World Bank’s 4.1% growth projection holds but recovery deemed vulnerable for Cambodia

The World Bank maintained its 4.1% growth projection for Cambodia in its first economic update of the year. The Kingdom’s agriculture segment “remained resilient” while the tourism sector had been “hit hard” and the manufacturing sector “has gradually adapted to changing external conditions”. Sources: KhmerTimes (PDF)

3. Hong Lai Huat to develop mega agricultural hub in Cambodia

Hong Lai Huat (HLH), the Singapore mainboard-listed group has received official approval from the Cambodian government to convert its existing agricultural land (about 10,000 hectares) in Aoral District, Kampong Speu Province, into a mixed-use agricultural development.

The hub will set out the roadmap for the future growth of its real-estate division in the country. Source: KhmerTimes (PDF)

4. Cambodia received only 82,839 foreign visitors in first four months

Foreign arrivals to Cambodia dropped by 92.9% in the four months this year to only 82,839. Last year, Cambodia received 1.31 million foreign tourists, showing a fall of 80% compared to 2019. Source: KhmerTimes

5. Cambodia courting Sweden’s IKEA and Volvo for investment in the Kingdom

Cambodia’s Minister of Commerce is asking Swedish Ambassador to persuade global furniture giant IKEA and truck manufacturer AB Volvo to take advantage of investment opportunities in Cambodia.

Cambodia-Sweden bilateral trade volume for 2020 was $64 million, but the pace appears to be slowing. It stood at $23 million in the first five months of this year. Source: KhmerTimes

6. ASEAN ACCESS online portal aims to link regional SMEs to global markets

ASEAN ACCESS, an online portal that has spent almost two years in development and hopes to connect millions of small and medium-sized businesses across the region to international markets, launched on Wednesday at a virtual ceremony attended by ASEAN and regional business leaders.

SMEs account for around 90 percent of all businesses in ASEAN and contribute between 60 and 90 percent of all employment, depending on the country. Source: KhmerTimes (PDF)

7. Korea to provide more than $13 million to help Cambodia’s agricultural sector by 2027

The Republic of Korea has provided a total of $13.4 million  to support the agricultural sector in Cambodia. This project is designed for the purpose of

  1. Promote the use of digital agricultural extension technology, infrastructure and effective use of digital systems,
  2. Strengthen the digital system and the rate of people gaining knowledge on the use of digital systems for agricultural extension and
  3. Strengthen the capacity of commune extension officers and agricultural extension agents on digital technology. Source: KhmerTimes

8. Guangdong’s Zhanjiang port halts Cambodian frozen seafood imports

A shipping port in southern China has temporarily halted the import of frozen seafood from Cambodia due to the port’s recently reduced capacity because of newly implemented Covid-19 prevention measures.

The import ban on frozen seafood will last from June 20 to July 15. Source: KhmerTimes

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