Logo of Phnom Penh Post newspaper Phnom Penh Post - Migrant remittances total $2.8B last year

Migrant remittances total $2.8B last year

Content image - Phnom Penh Post
Cambodians working abroad regularly sent home large remittances because of the high wages possible. Workers also reported gaining valuable skills and knowledge during thier time away. Heng Chivoan

Migrant remittances total $2.8B last year

Cambodia migrant workers last year sent $2.8 billion back home in remittances, according to the latest report by the Ministry of Labour and Vocational Training.

Speaking at an annual gathering last week, Minister Ith Sam Heng said the ministry continues to manage the employment and labour markets, which comprise of around 10 million workers. Of those, around 1.28 million are working abroad.

“This means that about 99.3 per cent of the population is employed,” he said.

Srun Theareach, a Cambodian working in a factory in Japan, told The Post on Sunday that he sent his family in Stung Treng province around $500 a month.

The 32-year-old migrant says he has been working in Japan for more than two years, earning about $1,300 a month. “Due to the money I sent home, my family, who are farmers, enjoy a better life and have been able to expand our house.

“Living in Japan has allowed me to develop important skills, and I will bring this knowledge back to my hometown when my stay here ends,” he said.

According to the report, the ministry dispatched 68,040 Cambodian workers abroad through private and state agencies last year, mostly to Thailand, South Korea, Japan, Singapore, Hong Kong, Malaysia and Saudi Arabia.

President and CEO of Acleda Bank In Channy said most migrants in South Korea use his bank to send money back home.

“Often, families would use the money sent to them to create or expand a small business,” he said.

Royal Academy of Cambodia researcher Hong Vanak said most Cambodian migrants returned home with new knowledge and skills.

“Most Cambodian migrants in South Korea and Japan earn a high salary. They send a lot of that money back home so that the families can renovate the home or build a new one. Some use the money to expand their businesses,” he said.

According to a report from the National Bank of Cambodia, in 2018, Cambodian migrants sent home about $1.4 billion in remittances. About $53 million came from South Korea.

Watch video:

MOST VIEWED

  • Wing Bank opens new branch in front of Orkide The Royal along Street 2004

    Wing Bank celebrates first anniversary as commercial bank with launch of brand-new branch. One year since officially launching with a commercial banking licence, Wing Bank on March 14 launched a new branch in front of Orkide The Royal along Street 2004. The launch was presided over by

  • Girl from Stung Meanchey dump now college grad living in Australia

    After finishing her foundational studies at Trinity College and earning a Bachelor’s degree from the University of Melbourne in 2022, Ron Sophy, a girl who once lived at the Stung Meanchey garbage dump and scavenged for things to sell, is now working at a private

  • Ministry orders all schools, public and private, to close for SEA Games

    From April 20 to May 18, all public and private educational institutions will be closed to maintain order and support Cambodia's hosting of the 32nd SEA Games and 12th ASEAN Para Games, said a directive from the Ministry of Education, Youth and Sport. Cambodia will host the

  • Wat Phnom hornbills attract tourists, locals

    Thanks to the arrival of a friendly flock of great hornbills, Hour Rithy, a former aviculturist – or raiser of birds – in Kratie province turned Phnom Penh tuk tuk driver, has seen a partial return to his former profession. He has become something of a guide

  • Almost 9K tourists see equinox sunrise at Angkor Wat

    Nearly 9,000 visitors – including 2,226 international tourists – gathered at Angkor Wat on March 21 to view the spring equinox sunrise, according to a senior official of the Siem Reap provinical tourism department. Ngov Seng Kak, director of the department, said a total of 8,726 people visited Angkor Wat to

  • Angkor Beer strengthens national pride with golden new look and fresher taste

    Angkor Beer – the "Gold of Angkor" – has a new look, one that is more stylish and carries a premium appeal, as well as a fresher taste and smoother flavour, making it the perfect choice for any gathering. Angkor Beer recently launched its new design, one