Domestic fabric factory to be developed in Cambodia by 2027

Domestic fabric factory to be developed in Cambodia by 2027 Minister of Labour Heng Sour announced that Cambodia will establish its own domestic fabric factory by 2027, aiming to reduce reliance on imports and enhance productivity in the textile and garment sectors. This initiative, discussed during the 140th International Labour Day celebration, aligns with the government's commitment to sustainable labor market development, improved working conditions, and social dialogue. Sour emphasized the importance of cooperation among employers, labour inspectors, and unions to foster economic growth and uphold the spirit of International Labour Day. He echoed Prime Minister Hun Manet's vision for "decent work" that ensures well-being and fair wages for workers. (Source: Khmer Times)

NBC and ABC review steps to strengthen banking stability and support growth The National Bank of Cambodia (NBC) and the Association of Banks in Cambodia (ABC) met on April 28 to discuss priorities for strengthening the banking sector and promoting sustainable financial development. Governor Chea Serey acknowledged ABC's achievements and provided recommendations to improve operations. Key discussion points included promoting the use of riel currency, enhancing customer protection, improving governance, and reinforcing professional conduct codes. They also focused on expanding credit access for SMEs and developing mechanisms for sustainable lending practices to address emerging challenges in the sector. (Source: Khmer Times)

WorldBridge Group and DRSB Express sign MoU to boost Cambodia's cross-border e-commerce and logistics WorldBridge Group and DRSB Express signed a memorandum of understanding on April 24 in Phnom Penh to form a strategic partnership enhancing Cambodia's logistics and e-commerce ecosystem. The agreement leverages DRSB's cross-border e-commerce expertise and WorldBridge's diverse logistics, real estate, and financial portfolio. The collaboration aims to expand trade capacity and improve supply chain efficiency, reflecting the demand for advanced infrastructure. This alliance aligns with Cambodia's push for logistics modernization and economic growth, capitalizing on the booming e-commerce sector. Both companies anticipate long-term value creation from this strategic partnership. (Source: Cambodia Investment Review)