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April Newsletter 2021

April Newsletter 2021

15/April/2021

WHAT IS KHMER NEW YEAR? 

Cambodian New Year (Khmer: បុណ្យចូលឆ្នាំថ្មី, Choul Chnam Thmey) is a traditional celebration of the solar New Year in Cambodia. A three-day public holiday for the country, the observance begins on New Year's Day, which usually falls on 13 April or 14 April, which is the end of the harvesting season, when farmers enjoy the fruits of their labor before the rainy season begins. The Khmer New Year coincides with the traditional solar New Year in several parts of India, Bangladesh, Nepal, Sri Lanka, Myanmar, Laos and Thailand.

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CAMBODIA-MADE ELECTRIC AUTO-RICKSHAW 

Locally-assembled electric auto-rickshaws could hit the Cambodian market within this year after the Council for the Development of Cambodia (CDC) gave the greenlight.

According to a CDC press release, it will issue a final registration certificate to Onion Mobility Co Ltd’s USD 20 million electric motorbike and auto-rickshaw assembly plant in Kandal province’s Suvannaphum Special Economic Zone (SSEZ), which is expected to generate 380 jobs.

Onion Mobility is a subsidiary of Singapore-based MVLLABS Pte Ltd (MVL), the company behind the TADA app, Southeast Asia’s first blockchain-based zero-commission ride-hailing service, which operated in Cambodia by MVL TADA (Cambodia) Co Ltd.

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KINGDOM'S INTERNET DEMANDS UP AMID COVID-10 RESTRICTIONS  

The number of internet users in Cambodia has increased significantly amid the Covid-19 pandemic causing high demand for, among others, online purchase and education, according to a senior official at the Ministry of Posts and Telecommunications.

Ministry’s director-general Tol Gnak told the source that people’s mobility has been restricted during the crisis, which has led to an increase in internet usage. He said the number of people in both public and private sectors conducting meetings online has also increased. Furthermore, many goods and services are being ordered online. To beef up online security, the ministry has been preparing a cyber-security law.

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CAMBODIA TO ROLL OUT 1M COVID-19 VACCINE JAB DRIVE PER MONTH

Prime Minister Hun Sen has announced a large-scale of Covid-19 vaccination campaign that will roll out one million doses per month to people across the country.

In an audio message last month, he had instructed all provincial governors to prepare accommodations for medical specialists who will be travelling to the provinces to carry out the campaign.

The prime minister advised the authorities to work with hotel and guesthouse owners to offer accommodation at no cost as a “humanitarian gesture”.

CITY IN THE CLOUDS: 'BOKOR' CREATE ON MOUNTAIN IN KAMPOT'S NATIONAL PARK

Prime Minister Hun Sen has signed a sub-decree to establish a new city in Bokor National Park, Kampot province.

According to the sub-decree, the new city will be named “Bokor City”, and will include three communes – Boeng Touk, Koh Touch and Prek Tnoat.

In the Master Plan of Bokor City Development Project until 2035” stated that the new city will occupy about five percent of land in Bokor National Park, approx. 9,000 hectares.

WORLD BANK: CAMBODIA'S ECONOMY TO GROW BY 5.2% IN 2022 AND 2023

While the Cambodian economy continues to suffer from the impacts of the COVID-19 pandemic, there are signs that economic activity is beginning to pick up. World Bank forecasted that Cambodia's economy is expected to grow by 4 percent in 2021, and 5.2 percent in 2022 and 2023, according to a latest report “Uneven Recovery Drives Growing Inequality Across East Asia and the Pacific” published in March 2021.

“The economic shock caused by the COVID19 pandemic has stalled poverty reduction and increased inequality,” said Victoria Kwakwa, Vice President for East Asia and the Pacific at the World Bank.

“As countries begin to rebound in 2021, they will need to take urgent action to protect vulnerable populations and ensure a recovery which is inclusive, green and resilient”, she added.