Page 40 - Demo

Leading the way in the rise were Chinese and Vietnamese tourists.
The Ministry of Tourism’s data released on Wednesday showed there were 931,763 visitors from China over the period, which accounted for 31 per cent of all inbound tourists.
This marked an increase of 75.8 per cent over the 529,967 Chinese tourists who arrived in the Kingdom during the first half of last year.
Despite shrinking by 1.5 per cent over the first half of last year, tourists from Vietnam were the second-largest group to visit the Kingdom, with a total of 386,614.
Currency
The local currency, the Khmer Riel (KHR), was introduced in 1980. However, the Kingdom is a partially-dollarized economy, with 80% of deposits and credits in the country’s banks in US dollars. One dollar is equal to roughly KHR4,000.
Foreign exchange control
Commercial transactions up to $10,000 may be made freely between residents and nonresidents, provided they are made through an authorized bank. Trans- fers exceeding $10,000 must be declared to the National Bank of Cambodia prior to the transfer.
Most Favoured Nation (MFN): Cambodia has been a member of the World Trade Organisation since October 2004 and has been awarded the preferen- tial Most Favoured Nation status by many developed nations such as China, France, Germany, the UK and the US.
Association of Southeast Asian Nations (ASEAN: an ASEAN member since 1991, Cambodia also benefits from numerous regional trade benefits. By 2018,