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Special issue of Cambodia
Guide
* the Cambodian government allocates US $50 million of low interest loans to promote the development of breeding industry
* Cambodia's agricultural planting faces many problems
* significant increase in Cambodia's rubber export in the first quarter
* Cambodia's economy may grow negatively in 2020
Industry observation
The Cambodian government allocates US $50 million of low interest loans to promote the development of breeding industry
In order to improve the development of agriculture, the Cambodian government has set aside US $50 million to provide low interest loans to farmers through the rural development bank, aiming to promote the development of the breeding industry in Cambodia. Gao TA, President of the rural development bank, said that low interest loans are mainly for breeding enterprises whose investment cost does not exceed US $300000, with an annual interest rate of 6.5%, while for breeding enterprises with a maximum working capital of US $200000, the annual interest rate is 6%.
Cambodia's agricultural planting faces many problems
Cambodia is a country dominated by agriculture. Under the influence of the epidemic, Cambodia's agricultural sector still faces many severe challenges, such as the lack of agricultural trade markets and processing farms; the investment resources of agricultural infrastructure are fragile and scattered, and there are many conflicting views at the national and local levels; infrastructure and other support are also limited; investment resources in the private sector are limited; farmers are investing The willingness and resources in terms of resources and knowledge are superficial. Cambodia's advantageous crop planting plans in all provinces could not be implemented as scheduled.
Trade Watch
Cambodia's rubber export increased significantly in the first quarter
According to the report of the general rubber administration of the Ministry of agriculture, forestry and Fisheries of Cambodia, in the first quarter of this year, Cambodia's rubber export reached 53057 tons, a year-on-year increase of 10%. The average price of rubber was 1420 US dollars / ton, and the revenue reached 75.341 million US dollars. At present, the rubber planting area in Cambodia is 405485 hectares, of which the rubber cutting area is 250750 hectares, equivalent to 62% of the planting area. In 2019, Cambodia exported nearly 300000 tons of rubber with revenue of nearly 400 million US dollars. The main export destinations are China, Vietnam, Singapore and Malaysia.
China Fujian Cambodia economic and trade cooperation network promotion conference successfully held
On April 23, the Development Council of the United Kingdom of Cambodia and the Embassy of the kingdom of Cambodia in China of Fujian Provincial Department of Commerce successfully held the "China Fujian Cambodia economic and trade cooperation network promotion meeting". The promotion meeting was held in the form of online video conference and live broadcast. Relevant government departments, institutions and industrial parks of Cambodia introduced Cambodian market and key economic and trade projects. Financial institutions such as Fujian Provincial Department of Commerce and Xiamen International Bank interpreted the policies of helping enterprises in the fields of foreign trade, cross-border E-commerce and finance. Enterprises from Fujian and Cambodia actively participated in the promotion meeting, and nearly 1600 people watched it online at the peak. Many enterprises conducted online Q & A with guests through live interactive chat area.
Market observation
More than 1800 factories in Cambodia promote employment of millions of people
In the first quarter of 2020, 77 new factories were established and 27909 jobs were created in Cambodia. Of the 77 newly established factories, 74 were approved by the Ministry of industry, science, technology and innovation, 1 by the Phnom Penh municipal government and 2 by the resumption of production. By the end of March 2020, there were 1801 factories in Cambodia, bringing 1063031 jobs.
Cambodia's economy may grow negatively in 2020
The international monetary fund expects Cambodia's GDP growth to be negative 1.5% in 2020. Novel coronavirus pneumonia is the main reason for the negative growth of Asian economies in the past 60 years in 2020, according to Changyong Rhee, director of Asia Pacific Division of IMF. The epidemic has reduced the number of visitors to Cambodia by 60%. The Cambodian clothing industry has also been severely impacted, and the European and American markets have cancelled orders.
Previous selections
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