$50 million monthly government support helps stabilise fuel and power prices

$50 million monthly government support helps stabilise fuel and power prices Cambodian Prime Minister Hun Manet announced a waiver of approximately $50 million in monthly revenue through tax reductions on fuel and electricity to alleviate the impact of rising global energy prices on consumers. He emphasized that while external geopolitical conflicts are uncontrollable, the government aims to support local households. Despite rising fuel prices globally, Cambodia has managed to keep price hikes moderate, thanks in part to a long-term energy strategy that has increased renewable energy generation to over 62%. Additionally, stable electricity tariffs have helped mitigate living costs, and the government is promoting electric vehicles through tax incentives while ensuring imported used vehicles meet safety standards. (Source: Khmer Times)

Unilever eyes expansion of Cambodia manufacturing footprint Cambodia and Unilever are discussing potential investments and local production capacity. During a recent meeting, Commerce Minister Cham Nimul acknowledged Unilever's long-standing presence and contributions to consumer welfare in Cambodia. Unilever's Ali Tariq outlined efforts to diversify supply sources. The discussions reflect a trend among multinationals to enhance local value chains, with the Ministry of Commerce focused on improving the investment climate and supporting fair competition. Nimul anticipates further expansion of Unilever's product portfolio and local manufacturing to benefit Cambodian consumers. (Source: Khmer Times)

LOLC Cambodia expands renewable energy investment under ESG strategy LOLC (Cambodia) is expanding its renewable energy investments following a successful pilot solar project at its Odongk branch, which reduced electricity costs by over 50%. This initiative aligns with the company's Environmental, Social and Governance (ESG) strategy and aims to lower operational expenses while minimizing the environmental footprint. The positive results have prompted LOLC Cambodia to roll out solar systems to more branches as part of its broader sustainability efforts, addressing climate change and reducing greenhouse gas emissions. The expansion reflects a growing trend among Cambodian financial institutions to incorporate sustainability into their operations, ultimately contributing to a greener future for the nation. (Source: Cambodia Investment Review)