Cambodia’s business sector witnessed several notable developments and achievements in June 2023, reflecting the country’s resilience and potential in the post-pandemic era. Here are some of the highlights from the past month:
- Cambodia Confederation of Investors Association (CCIA) launched: A coalition of six leading chambers and associations officially launched the CCIA on June 17, 2023, aiming to foster Cambodia’s economic growth and attract more foreign investment. The CCIA seeks to facilitate dialogue and cooperation among investors, offer information and resources on the investment environment, and provide training and consulting services to investors (https://cambodiainvestmentreview.com/2023/06/19/cambodian-business-community-prepares-for-next-wave-of-global-investment-with-newly-launched-confederation-of-investors-association/).
- CAMGSM PLC. (Cellcard) listed on Cambodia Securities Exchange: Cellcard, one of the leading mobile operators in Cambodia, successfully listed its Class A common stock on the Cambodia Securities Exchange (CSX) on June 27, 2023, following its initial public offering (IPO) that generated over $5 billion in proceeds. Cellcard is the first telecom company to list on the CSX and the largest IPO in Cambodia’s history (https://www.b2b-cambodia.com/business-news/).
- Bakong reaches more Asian countries: The National Bank of Cambodia (NBC) announced that it will expand the cross-border payment system of Bakong, its blockchain-based digital currency, to five additional Asian countries: Vietnam, Laos, Myanmar, Thailand, and Malaysia. Bakong, which was launched in October 2020, aims to promote financial inclusion and reduce transaction costs in Cambodia (https://www.b2b-cambodia.com/business-news/).
- Cambodia’s pathway to a digital economy and society by 2035: The Cambodian government expanded on its plans for how the Kingdom can achieve a digital economy and society by 2035, following the adoption of the National Policy on Digital Economy and Society in February 2023. The policy outlines four strategic pillars: digital infrastructure, digital industry, digital government, and digital trust (https://www.b2b-cambodia.com/business-news/).
- Three Cambodian private green bond issuers selected for 2023: The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and partners announced the three Cambodian green bond issuers for 2023: ACLEDA Bank Plc., Chip Mong Insee Cement Corporation (CMIC), and Phnom Penh Water Supply Authority (PPWSA). The issuers will receive technical assistance and capacity building to issue green bonds that will finance environmentally friendly projects in Cambodia (https://www.b2b-cambodia.com/business-news/).
- Actor Matt Dillon to visit Cambodia for nationwide “City of Ghosts” screening tour: Oscar-nominated Hollywood actor and director Matt Dillon will visit Cambodia in July 2023 for an exclusive meet-and-greet event and a nationwide screening tour of his 2002 film “City of Ghosts”, which was shot in Cambodia. The event is organized by Westec Media Limited and supported by the Ministry of Culture and Fine Arts to promote Cambodian culture and cinema (https://www.b2b-cambodia.com/business-news/).