NBC sees increased confidence in riel after dollar buys in 2017
The central bank injected $915 million worth of riel into the economy last year by buying up US dollars with the local currency, stabilising the exchange rate amid higher demand for riel, according to the bank’s latest report. ...
Hor Kimsay
http://www.phnompenhpost.com/business/nbc-sees-increased-confidence-riel-after-dollar-buys-2017
$540m Mekong project endorsed
Environment ministers from the six countries of the Greater Mekong subregion endorsed a five-year environment agenda that includes more than $540 million worth of projects to spur green investments and increase environmental cooperation to help the subregion achieve sustainable growth. ...
Khy Sovuthy
http://www.khmertimeskh.com/50106157/540m-mekong-project-endorsed/
Bank services VAT seen as ‘inefficient’
Banking sector leaders have expressed concern over a new government decree that places additional fees on financial services, warning that the costs of what some have described as an “impractical and inefficient” tax would likely be passed along to consumers. ...
Kali Kotoski and Hor Kimsay
http://www.phnompenhpost.com/business/bank-services-vat-seen-inefficient
Bond to funnel benefits to women
An $8 million bond set to debut on Singapore’s stock exchange will mobilise private capital to support social enterprises and microfinance institutions (MFIs) in Cambodia, Vietnam and the Philippines, providing nearly half a million women in these countries with more access to credit in order ...
Brian Ng
http://www.phnompenhpost.com/business/bond-funnel-benefits-women
Press Release on the meeting of Minister Aun Porn Moniroth and Ellen Goldstein
On 18 July 2017, Minister of Economy and Finance, Aun Porn Moniroth, had a meeting with Ellen Goldstein, who has been appointed as Country Director of World Bank for Myanmar, Cambodia and Lao PDR, East Asia and Pacific. The Economy Minister has informed Goldstein of ...
Ministry of Economy and Finance
Cambodia’s loss of LDC status will bring challenges: World Bank
As Cambodia continues its upward trajectory towards becoming a lower-middle-income country, it will face even greater challenges in reducing high levels of poverty as the Kingdom loses its preferential trade privileges and donor funding dries up, according to a new World Bank report. ...
Kali Kotoski and Hor Kimsay
http://www.phnompenhpost.com/business/cambodias-loss-ldc-status-will-bring-challenges-world-bank
$64b GMS action plan
Cambodia as a member of the six-nation Greater Mekong Sub-region (GMS) endorsed a five-year action plan framework that includes $64 billion in projects to help the sub-region achieve inclusive growth and sustainable development. ...
Sum Manet
http://www.khmertimeskh.com/5083528/64b-gms-action-plan/
Public transport a priority: WB
As the urban population continues to grow at rate of 2.6 percent per year, improving public transport and coming up with detailed urbanisation plans should be top priorities for authorities in Phnom Penh, as well as for other urban centres, including Sihanoukville and Siem Reap, ...
Chea Vannak
http://www.khmertimeskh.com/5084611/public-transport-priority-wb/
Officials deny arrest has links to new loans
The rumour mill has been in overdrive regarding the arrest of The Pirate Bay co-founder Gottfrid Svartholm Warg; however, various government officials yesterday shunned the conspiracy theories. Tom Abrahamsson, head of administrative and consular matters at the Swedish Embassy in Phnom Penh, refuted speculation that Svartholm ...
Gov's to Lay More than 400 Km of Fiber-Optic Cable
With a loan from Japan, the government will begin laying more than 400 km of fiber-optic cable early next year to connect Phnom Penh with five provinces, the Ministry of Post and Telecommunications (MPTC) said yesterday. Telecommunication Minister So Khun said the cable-which will connect Phnom Penh with ...
As Insurance Claims Grow, So Do Premiums
The total amount of claims paid out by local insurance firms during the first nine months of the year have tripled to more than $11 million compared to the same period in 2011 According to data from General Insurance Association of Cambodia (GIAC), paid claims grew ...
Officials ignore call for special small and medium enterprises bank
Cambodian officials have refused to establish a specialised bank for small and medium enterprises (SMEs) despite experts saying the sector needs aid in order to compete efficiently with ASEAN economic integration in 2015. Hang Chounnaron, secretary of the Ministry of Economy and Finance said Cambodia would ...
Microfinance institution Sathapana increases maximum loan limit
Microfinance institution Sathapana has increased its maximum loan size to US$200,000, a 300 per cent increase from the previous level of $50,000. The upgrade in loan size is a result of Cambodia’s good economic climate and the expectation that there will be demand among customers for ...
Investment to aid low earners
US-BASED Overseas Private Investment Corporation (OPIC) yesterday signed a deal to provide a $5 million long-term loan to Thaneakea Phum (Cambodia) Ltd (TPC), a local microfinance institution (MFI), to support TPC’s expansion of its home improvement loans for low-income Cambodians. Fernanda Lima, director of US-based socially ...
http://www.phnompenhpost.com/2013022861653/Business/investment-to-aid-low-earners.html
Cambodia takes $430m China loan
Cambodia yesterday signed deals for about US$430 million in loans from China, the latest in a number of high-profile borrowing deals with its northern neighbour. The bulk of the loans, from Export-Import Bank of China, would go towards two national road projects and a multipurpose dam ...
http://www.phnompenhpost.com/index.php/2012061456790/Business/cambodia-takes-430m-china-loan.html
Doing business gets easier in Cambodia: World Bank
Cambodia rose five places in the World Bank’s annual Doing Business study to 133I’d out of 185 countries, largely due to the establishment of a credit bureau, which makes acquiring loans easier. The report, which ranks countries in 10 categories on the ease of doing ...
Microfinance Firms Look to Retail Lending
While shopping for a brand-new television, 27-year-old Loek Bunhai recently bought a Sony flat-screen at the Sunsimexco retail outlet on Phnom Penh’s Monivong Boulevard for $345. But with a monthly salary of $300 from his job as a microfinance officer in Phnom Penh, Mr. Bunhai was ...
First life insurance company launches in Cambodia
The Kingdom’s first life insurance company, Cambodian Life, launched yesterday, courting a market almost entirely unfamiliar with the service. Industry insiders said demand for the products would need time to grow. The establishment of Cambodian Life in the Kingdom would develop confidence in the market and ...
http://www.phnompenhpost.com/index.php/2012052256297/Business/life-insurance-opens-doors.html
Factories Lend Travel Money to Ensure Garment Workers Vote
Often vilified for paying low wages in less than optimum work environments, Cambodia’s garment factory owners got into the swing of the commune elections this week, with many companies providing loans to help their workers travel home to vote. With about 400,000 employees, the garment industry’s ...
Hun Sen vows to intervene as dollar plunges to 3,888 riel
Cambodian Prime Minister Hun Sen said Wednesday that the government would intervene to stem the riel’s sharp rise against the US dollar in recent days. “The Cambodian riel has been rising for several days,” he told a land-distribution ceremony in Oral district in Kampong Speu province, ...