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National Bank of Cambodia looks at local yuan role

Bank of China is in negotiations with Cambodia’s central bank on the promotion of business transactions in Chinese yuan.

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Bank of China is in negotiations with Cambodia’s central bank on the promotion of business

The Chinese government has given tax benefits to Chinese companies that have settled foreign trade in the currency since 2010, but the discussion between the National Bank of Cambodia(NBC) and state-owned Bank of China was a sign that China would take a more proactive hand in moving away from the US dollar medium in bilateral trade

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National Bank of Cambodia looks at local yuan role

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Asean

CLMV economies Outlook by EIC Q1/2021

Within the region, Vietnam’s economy is projected the fastest growth due to ongoing strong exports performance for electronics products and a resilient domestic economy.

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The global recession and COVID-19 pandemic heavily affected CLMV economies in 2020, resulting in major slowdown in Vietnam and Myanmar whereas Laos and Cambodia faced economic contractions from additionally specific negative factors.

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Cambodia

CLMV’s economic growth crashes to two-decade low due to COVID-19

The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year

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The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports says KResearchCenter.

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