CDC to launch cdcIPM to smoothen investment procedures

Economy and Industry

CDC to launch cdcIPM to smoothen investment procedures The Council for the Development of Cambodia (CDC) has introduced the CDC Investment Project Management System (cdcIPM), a groundbreaking initiative set to modernize investment processes, facilitating smoother business investments within Cambodia. The cdcIPM, described by Deputy Prime Minister and CDC's First Chairman Sun Chanthol, functions as a digital platform enabling investors to seamlessly apply for project registration online, encompassing procedures like application submission, service fee payments, and the acquisition of digital project registration certificates with an upcoming official launch of the system on November 27. (Source: Khmer Times)

South Korea's HiteJinro reports soju exports to Cambodia increase 31% YoY HiteJinro Co., a prominent soju producer in South Korea, recently resurrected its Jinro EDM Festival in Cambodia's Water Festival after a four-year hiatus, with the objective of reinvigorating its appeal among the younger demographic. Leveraging this festival, HiteJinro has bolstered its footprint in Cambodia's retail landscape, with its products now accessible in 18 AEON Mall outlets, 52 DFI Lucky stores, and 105 Seven-Eleven establishments. Notably, HiteJinro's soju exports to Cambodia have displayed a steady annual growth rate of 31% over the past five years, underscoring the escalating demand for its offerings in the Cambodian market. (Source: Khmer Times)

Cambodia-Vietnam trade rises 20% from January to October  Trade relations between Cambodia and Vietnam have exhibited a consistent upward trajectory, with the first ten months of 2024 witnessing a surge in total trade volume to over $6.4 billion, reflecting a notable 20% year-on-year escalation. Notably, Cambodia experienced a remarkable increase of more than 31% in exports to Vietnam during this period. Data sourced from the General Department of Customs and Excise (GDCE) revealed that the import-export value between the two nations from January to October amounted to $6.419 billion, marking a substantial 21.7% upsurge from the corresponding period in 2023. Vietnam currently stands as Cambodia's third-largest trade partner globally, trailing behind China and the US. (Source: Phnom Penh Post)

Corporate News

BYD in final discussions to set up EV factory in Cambodia  Prime Minister Hun Manet announced that the Council for the Development of Cambodia (CDC) is in the final stages of negotiations with the Chinese electric vehicle powerhouse BYD Company Limited to establish an electric vehicle (EV) manufacturing facility in Cambodia. Speaking at the Royal University of Phnom Penh (RUPP) graduation ceremony, Hun Manet emphasized the government's commitment to driving economic growth, addressing critics who have questioned the government's efforts, highlighting ongoing negotiations led by Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of CDC, with BYD for the investment in the EV manufacturing plant. Comparing BYD to Tesla, a major EV manufacturer in the United States, Hun Manet expressed optimism about the potential collaboration, with discussions expected to yield positive results in the coming year. (Source: Khmer Times)

Stock Market

CSX index slips 0.16% amid mixed trading performance On November 25, 2024, the CSX Index declined by 0.16%, closing at 403.2 points. Leading the gains on the main board was PPSP, which rose by 0.44%. In contrast, PPAP (-1.18%), PWSA (-0.63%), GTI (-0.38%), ABC (-0.29%), and PAS (-0.18%) experienced losses, while PEPC, MJQE, and CGSM remained unchanged. On the growth board, DBDE increased by 0.99%, while JSL remained flat. The day saw a trading volume of 65,087 shares, with a turnover of KHR 386 million. (Source: YSC Research)

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