The three-day training program on Trade Policy and Negotiations in Phnom Penh, aimed at preparing private sector representatives to contribute to ongoing and future trade talks and benefit from existing free-trade agreements (FTAs). Cambodia has signed its first two bilateral FTAs with China and South Korea in 2022, and more are expected to follow.

The panelists discussed various service exports that Cambodia has to offer, including dental services, marketing-related services, and consultative services. According to the experts the COVID-19 pandemic caused a drop in service exports in 2019 compared to 2018, from $7.9 billion to $6.09 billion. Despite this setback, the panelists remained hopeful that the economy would recover, and service exports would pick up again.

Despite significant progress the lack of safe water and sanitation access is a critical issue in Cambodia, especially in rural areas. To address the issue, the collaboration between Water.org and CMA will focus capacity building to potential CMA members to implement Water Credit Adaptation. The participating financial institutions will also receive technical assistance to develop and improve financial products on safe water and sanitation.

Cambodia's National Institute of Statistics (NIS) is set to revise the country's Gross Domestic Product (GDP) estimates upward by around 30% in the coming months, from approximately $30 billion to $40 billion USD. This revision comes after a rigorous process that has been reviewed by the International Monetary Fund (IMF), aiming to provide a more accurate reflection of Cambodia's economy.

The event brought together key stakeholders to share insights on the latest trends affecting their sectors to discuss various aspects of trade, including Cambodia's current level of trade openness, shipping costs, sustainability issues, and opportunities for logistics and transparency enhancements.

During the ceremony, Cambodia Securities Plc. was granted five major licenses by the Securities and Exchange Regulator of Cambodia (SERC), making it the first securities house in the country capable of serving both the buy-side and the sell-side. The firm also signed eight strategic alliances to more effectively and efficiently channel funds from its extensive sources of investors.

A combination of demographic and economic elements mean that domestic demand for new vehicles in Cambodia’s nascent auto market is set to rise, with predictions that new registrations for cars will hit 50,000 next year, versus just 7,000 in 2016, and are set to rise further.

Banking and Microfinance Associations in Cambodia are pushing for a decrease in the use of informal lenders and promoting the use of licensed financial services after an official announcement by the regulator and national police. While Cambodia aims to be taken off the gray list of the Financial Action Task Force in early in 2023.

The new railway line is expected to be a viable alternative to the current system and provide passenger and freight services between Cambodia and Thailand. It is also planned to link into China's belt and road policy of high-speed trains in ASEAN and extend from Bangkok to Cambodia's border, connecting to mainland China and Singapore.

The flagship report was launched with direct support from the Ministry of Commerce, and provided an in-depth analysis of the e-commerce sector in Cambodia in 2022, focusing on 10 key industries while offering nationwide coverage. The event was attended by over 70 key stakeholders from both the public and private sectors in Cambodia’s eCommerce industry.

In a recent interview with business consultancy firm AquariiBD Cambodia, the private and commercial real estate company IPS have said they are confident 2023 will bring back the bigger deals essential for a healthy sector, as inbound foreign investment continues its recovery to pre-pandemic levels. Country Director, Mr. Adam Fitzpatrick, added that despite concerns over the amount of stock due to enter the market, long-term investments in property and land are still appealing to foreign investors in a generally stable market.

CMA spokesperson Tongngy Kaing explained that despite a hiccup in early 2022 from Covid-19, the microfinance sector remained healthy adding if no external challenges may arise, the association is confident with the current economy, and we expect the sector to grow 20% in 2023 with NPLs at just over 2%.