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Gains in exports and increased foreign direct investment (FDI) are expected to drive gross domestic product (GDP) growth by 5.3 per cent this year and expand to 6.5 per cent in 2023, based on Asian Development Bank’s (ADB) latest prediction.
Cambodian longans are expected to soon gain China market access, although growers and packers have been slow to register their orchards and facilities.
ACLEDA Bank Plc and the state-owned Agricultural and Rural Development Bank of Cambodia (ARDB) have agreed to jointly implement a credit scheme to support agricultural sector companies, as well as provide loans to Pailin longan, mango and cashew nut production chain players, in fulfilment of the government’s SME Co-Financing Scheme (SCFS).
Cambodian officials urge farmers to register for China longan exports
The agriculture ministry has urged longan growers and relevant private sector companies to register their plantations and packaging plants “as soon as possible” to be able to export the fruit to China, as negotiations on the export process reach their final stages.