Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia.
Cambodia's economy is forecast to grow 4.0 per cent this year and 5.5 per cent in 2022, as economic recoveries in major trading partners boosts demand for the Kingdom's exports, according to an Asian Development Bank (ADB) report released on April 28.
The Ministry of Commerce on April 27 responded to criticism that allowing private vendors to sell essential goods at designated locations would run contrary to government preventive health measures – which prohibit gatherings – to stem the spread Covid-19.
The formal signing of the Cambodia-South Korea Free Trade Agreement (CKFTA), scheduled for mid-year, will be postponed due to disruptions from the Covid-19 outbreak stemming from the February 20 community incident, according to a spokesman for the Ministry of Commerce.
The Ministry of Commerce struck 827 contracts worth $26.9 million through the Accelerating Inclusive Markets for Smallholders (AIMS) project in 2020, according to a report from the ministry.
The Ministry of Commerce on April 21 launched an online marketplace with virtual booths to sell essential groceries to people during the ongoing coronavirus lockdown in Phnom Penh and adjacent Takhmao town in Kandal province.
With authorities tightening security to prevent community transmission in Phnom Penh and Kandal province’s Takhmao town, e-commerce activity, cashless payments and delivery services have logged a notable rise, swiftly becoming new features of the digital world in Cambodia.
Prime Minister Hun Sen affirmed on April 10 that Cambodia will not face a shortfall in budget despite the government having allocated much if its resources to contain the February 20 community outbreak of Covid-19.
International Monetary Fund (IMF) managing director Kristalina Georgieva on April 7 said the Cambodian economy is expected to grow 4.2 per cent this year, following a 3.5 per cent contraction in 2020, but cautioned that local governments around the world should proceed with prudential policies and proactive management.
The trading value of the US-Canadian (USD-CAD) currency pairing has been fluctuating in a downward trend, and it is expected to continue in a bearish mood next week with the Canadian dollar looking much stronger.