Cambodian Business & Tech News Brief on 19-21 Jun 2021

Here are the compilation of the news brief about business and technology in Cambodia from various news outlets, published on 19-21 June 2021. You can stay informed with me by following our Facebook page or Telegram channel.

List of Key News Brief on Business and Technology in Cambodia 19-21 June 2021

1. Cambodia collects more than $11 million through sale of 5,700 special licence plates

The Ministry of Public Works and Transport sold 5,700 special license plates and collected a whopping sum of  $11 million since January 7, 2020 to mid-June 2021. The budget will go into the national budget. Source: KhmerTimes (PDF)

2. Government launches new digital plan for its economic development

Cambodia has launched its new 14-year plan on digital policy “Digital economy and social policy framework of Cambodia (2021-2035)“, aims to address the needs and potential of both public and private sectors and take full advantage of the economic resources available to the Kingdom, to respond and keep pace with rapid changes in the economy as it recovers from the financial dip caused by the Coronavirus pandemic, while continuing on the path of rapid growth Cambodia has achieved over the past 30 years. Source: KhmerTimes (PDF), PPPost (PDF), ODC

2. Mass flood of ACLEDA selling rocked CSX index last week

The entire Cambodia Securities Exchange (CSX) closed deep in the red on Thursday with two companies reaching their minimum trading limit after ACLEDA Bank Plc increased its float by 400 percent, sending a shockwave through the fledgling bourse and causing widespread selling.

“After a few years of waiting to trade, many of the employees sold their shares for cash,” CSX Director Kim Sophanita told Khmer Times. “Too much supply against market demand dragged the price down to their lower limit for two consecutive days.”

ACLEDA Bank shares fell by 1,620 riels on Wednesday and 1,460 riels on Thursday, erasing 23.4 percent of the company’s market capitalization. A total of 342,775 ACLEDA Bank shares were exchanged over the next two days, a staggering increase over the 22,257 shares that were traded the day before the announcement. Source: KhmerTimes (PDF)

3. Policy shifts needed to empower female entrepreneurship: UNIDO

The green industry could become the catalyst needed to empower female entrepreneurship, but much work needs to be done on a societal and policy level in Cambodia if these benefits are to be realized, according to a recent study by the United Nations Industrial Development Organization (UNIDO.)

It found that while the situation on the whole is improving, government policy is inadequate in addressing gender inequality in multiple sectors, including the green industry, which is loosely defined in Cambodia and includes the garment, agribusiness, energy and tourism sectors. Source: KhmerTimes (PDF), UNIDO

4. Cambodia’s Key logistics hub breaks ground in 2022

The much-anticipated Phnom Penh Logistics Centre (PPLC) is expected to break ground next year, according to Minister of Public Works and Transport Sun Chanthol.

On March 4, the ministry signed a framework agreement with YCH, with the support of Singapore-based Infrastructure Asia (IA), to study the PPLC project for nine months and to negotiate a concession agreement on carrying out the project. The discussion concurrently focused on the two primary parts of the master plan – air and multimodal transport, and logistics, which is intended to be comprehensive and effective in attracting investment and boosting Cambodia’s economic growth. Source: PPPost (PDF)

5. Four fisheries items can be exported to China

Cambodia can now export four types of fisheries products to the China – mantis shrimp of the Squilla and Oratosquilla genii; the Monopterus genus of swamp eels; the Chicoreus genus of carnivorous marine gastropod molluscs; and “live fish [Monopterus]”, a genus of swamp eels native to Asia with four recognised species, according to the Chinese embassy in Phnom Penh. Source: PPPost (PDF)

6. Tourist arrivals down 93% in January-April

From January to April this year, Cambodia received a total of 82,839 international tourists, down 93% from 1,160,067 over the same period last year.

Thai tourists ranked first at 41,794, followed by Chinese at 25,986, Vietnamese at 2,993, and Indonesian at 2,933, according to the latest data from the Ministry of Tourism. Source: PPPost (PDF)

7. An Giang province seeks to foster cross-border exports with Kandal & Takeo International Border Gates

AN GIANG – The Cuu Long (Mekong) Delta province of An Giang targets increasing trade through border gates by 15% in 2021-25 from the previous five years to $9 billion. An Giang shares a border of nearly 100km with Cambodia and has two international and national border gates each.

Under the plan, An Giang will invest more in infrastructure, solicit investments and implement its co-operation agreements on border trade with Cambodia’s Takeo and Kandal provinces. Source: KhmerTimes (PDF)

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