The “Asean Briefs” newsletter publishes a weekly summary of economic news from Southeast Asia. We broadcast your weekly Cambodia board.
Strengthening of economic and trade cooperation between Cambodia and the International Organization of La Francophonie (OIF)
After Vietnam, Cambodia hosted the first Economic and Commercial Mission of the Francophonie in Asia (MECA) from March 28 to 30. Led by the Secretary General of the OIF, Ms. Louise Mushikiwabo, in association with the Ministry of Foreign Affairs and International Cooperation (MAECI) of Cambodia, this event aimed to support French-speaking companies in developing partnerships for business in Cambodia. The Cambodian Chamber of Commerce (CCC) encouraged participating companies to invest in Cambodia in the agribusiness, sustainable energy and technology sectors. The CCC has also signed 3 cooperation protocols with the CCI of Benin, the Federation of West African CCIs, based in Nigeria, and the CCCI of Côte d’Ivoire. It should be noted that the Kingdom’s trade with OIF member countries reached USD 9.6 billion in 2020, including USD 6.5 billion for Cambodian exports (+4% compared to 2019).
Reduced Gas Price Period
Starting in April, gasoline prices will be reviewed every 10 days instead of every 15 days, to take into account price volatility in international markets. Thus, the retail price will be determined every 1st, 11th and 21st of each month. In this sense, an interministerial decree of the Ministries of Economy and Finance, Commerce and Mines and Energy was published on March 22.
Official launch of the geographical indication “Miel Silvestre de Mondulkiri”
The PGI “Mondolkiri Wild Honey” was officially launched on Sunday, March 27, 2022, after being registered on January 29, 2021. After Kampot pepper, Kampong Speu palm sugar, and Koh pomelo Trong, is the fourth local GI registered by the Ministry of Commerce. According to the Mondulkiri Province Wild Bee Conservation Association, its 11 member communities can collect 20 to 30 tons of honey each year from March to June, with selling prices ranging from $12 to $13 per kilo. .
Mobile payments in Cambodia are booming again in 2021
According to the National Bank of Cambodia (BNC), the number of online payment users increased by 42% in 2021, reaching 13.6 million. In fact, the health crisis has encouraged the use of this payment method. Total transactions amounted to USD 113.7 billion, compared to USD 95.3 billion in 2020.