Pernod Ricard Cambodge has partnered with the Institute of Standards of Cambodia (ISC) and the Ministry of Industry, Science, Technology, and Innovation (MISTI) to create safety standards for 'Sraa Sor,' the traditional Cambodian rice spirit. The collaboration not only aims to ensure quality and safe consumption but also seeks to celebrate Cambodian heritage and elevate the traditional drink's appeal among the younger generation, all while bolstering rural women's livelihoods and integrating small-scale producers into the formal economy.

A 2023 Visa Consumer Payment Attitudes Study highlights a significant increase in the use of QR codes for payments in Cambodia, even as cash remains the dominant payment method. While 86% of Cambodians still use cash, the adoption of QR code payments has surged to 68% in 2022. The study indicates a clear shift towards digital payments, with Cambodians embracing the ease and efficiency of QR code transactions.

The inaugural Joint Trade and Investment Forum, aimed at strengthening the £1 billion UK-Cambodia trade relationship, was recently hosted in Phnom Penh. Presided over by key officials from both countries, the forum provided a platform for discussing trade and investment strategies. A Memorandum of Understanding (MoU) was also signed to facilitate regular discussions and policy dialogues between the nations, a move seen as a significant step in fostering economic collaboration.

As the Regional Comprehensive Economic Partnership Agreement (RCEP) takes effect, Cambodia is poised to become a hub for foreign investors. Leveraging Cambodia's abundant raw materials and cost-effective environment, the RCEP opens vast global markets to investors. Experts at a recent forum, organized by the American Chamber of Commerce in Cambodia, delved into the transformative potential of this trade pact for Cambodia, and the new economic landscape it unveils.

In the wake of the pandemic, Cambodia is emerging as a robust prospect for Foreign Direct Investment (FDI), according to the World Bank's May 2023 Economic Update. The report emphasizes Cambodia's potential to balance growth and employment support with macro-financial stability. It also highlights the nation's fiscal capability to enhance spending on infrastructure and human development, advocating for the continuation of social support programs, and emphasizing the importance of export diversification and financial stability.

The World Bank predicts Cambodia's economic growth to accelerate to 5.5% in 2023, driven by expansion in agriculture, services, and manufacturing exports. The projection follows a recovery in 2022, marked by a 5.2% growth and rebound in sectors such as trade, travel, and hospitality. Despite the promising outlook, the World Bank cautioned about potential risks, recommending diversification in tourism and improved trade competitiveness for a sustainable economic future.

Cambodia Investment Review The Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC) have entered a strategic partnership to improve access to...

The startup communities in Australia and Cambodia are intensifying their efforts to connect and establish a robust digital trade network, creating more job opportunities and promoting cross-border investments. The Gold Coast Innovation Hub (GC Hub) is positioning itself as the gateway for Cambodian firms to enter Australia's vibrant startup scene most recently hosting its inaugural event organized by the Cambodia Academy of Digital Technology.

The deal represents a new model of collaboration between the state and private sector, which aims to do three things. Firstly, share knowledge, experience and training, secondly, see participation in the use of digital enablers and finally, support activities and other programs both financially and non-financially for the development of the digital economy and financial technology in Cambodia.

The Japan External Trade Organization (JETRO) and the Cambodia Development Resource Institute (CDRI) have taken a significant step in strengthening economic ties between Japan and ASEAN countries, particularly Cambodia. In a series of focus group discussions (FGDs), participants from various Cambodian private firms and associations shared valuable insights into the potential for enhanced collaboration in the areas of innovation and green sustainability.

Cambodia has set its sights on becoming a leading global producer and exporter of cashew nuts. As part of this vision, private sector companies like Kamya AgriTrade are playing a crucial role in adding value to the cashew nut industry by investing in processing facilities, certifications, and the development of quality products.

Cambodia is making significant strides in modernizing its logistics sector in an effort to become a "sub-regional hub for logistics," which will bolster its economic growth and integration into the global supply chain. This transformation is expected to improve the livelihoods of millions of people by making transportation of goods more cost-effective and efficient.