Kampot to get new port
Construction of a seaport in Kampot is set to begin this year two years after being approved thanks to an $18 million loan from the Asia Development Bank (ADB), according to officials. ...
Sok Chan
http://www.khmertimeskh.com/news/21768/kampot-to-get-new-port/
MFI joins effort to push a Riel economy
Prince Finance Plc is moving to support the efforts of the National Bank of Cambodia (NBC) to promote the use of the riel by using the domestic currency in all transactions, fees, loans and staff salaries, the microfinance institution’s managing director, Hon Sorachana, told a ...
Sok Chan
http://www.khmertimeskh.com/news/22971/mfi-joins-effort-to-push-a-riel-economy/
SMEs eye bourse for funds
Small and medium enterprises (SMEs) in Cambodia could start raising capital from the public, through the stock exchange, if government efforts to amend financial regulations to allow SMEs to be publicly listed get off the ground. ...
Chea Vannak
http://www.khmertimeskh.com/news/27409/smes-eye-bourse-for-funds/
Notification on the temporary suspension of the implementation of VAT on nontaxable supplies
On 06 July 2017, the General Department of Taxation has issued a notice to all financial institutions operating in the Kingdom of Cambodia to be aware that the implementation of a May 25 prakas that more clearly defines the government’s laws for nontaxable supplies concerning ...
General Department of Taxation
Decree puts riel prices into focus
The government has issued a decree that requires all businesses to put price tags on their products and services in riel to increase transparency for consumers and boost the use of the local currency. ...
Hor Kimsay
http://www.phnompenhpost.com/business/decree-puts-riel-prices-focus
Anti-fraud software firm draws major clients
A year after a local technology company introduced new software to combat financial crime in Cambodia, four banks have started using the system to fight against money laundering and terrorism financing, the company’s executive said yesterday. ...
Hor Kimsay
http://www.phnompenhpost.com/business/anti-fraud-software-firm-draws-major-clients
IFC to boost corporate governance
The International Finance Corporation (IFC) launched a corporate governance initiative yesterday aimed at enhancing the efficiency of Cambodia’s private sector to strengthen the business climate and spur foreign investment and job creation, it said in a release. ...
Post Staff
http://www.phnompenhpost.com/business/ifc-boost-corporate-governance
Commune chief ordered to repair ADB-funded road
Kampong Cham provincial authorities have ordered a newly-elected commune chief to repair a road he had begun excavating to irrigate water away from villagers’ rice fields in Cheung Prey commune. ...
Pav Suy
http://www.khmertimeskh.com/5077496/commune-chief-ordered-repair-adb-funded-road/
Kampot seaport coming in 2019
Construction of the first seaport for tourist vessels in Kampot is due to start by the end of the year. The groundbreaking ceremony for the port project was previously scheduled for September, but was delayed. ...
Chea Vannak
http://www.khmertimeskh.com/5085576/kampot-seaport-coming-2019/
Urbanisation brings opportunities, challenges
Rapid urbanisation in Phnom Penh in the past decade has created jobs and reduced poverty, but better urban planning, management and infrastructure are needed to avoid further sprawl, congestion and pollution, according to a new World Bank report released yesterday. ...
Sum Manet
http://www.khmertimeskh.com/5097220/urbanisation-brings-opportunities-challenges/
Record growth in insurance
Cambodia’s insurance industry saw record growth in 2016 and was valued at $113 million, according to a report from the Insurance Association of Cambodia (IAC). ...
Sok Chan
http://www.khmertimeskh.com/news/35153/record-growth-in-insurance/
Economic changes needed, says ADB
A lead economist working with the Asia Development Bank (ADB) has said that Cambodia needs to rethink its economic model, which is heavily based on export-driven growth, as it prepares to shed least developed country (LDC) status, a transition that is expected to take place by ...
May Kunmakara
http://www.khmertimeskh.com/5084612/economic-changes-needed-says-adb/
Camko City restarts after one-year hiatus
Construction at Camko City, an unfinished, US$2 billion satellite city in northwestern Phnom Penh, has resumed after at least one sentence connecting the mega-project’s chief executive with a Korean banking scandal was dropped. , the company behind Camko City, has resumed the construction of retail space ...
Prasac borrows $1.5m from German company
Assets of Cambodian Microfinance Institution Prasac reached US$210 million with the combination of newly borrowed $15 million from Germany’s Deg-Deutsche Investitions Und Entwicklungsellschaft Mbh (DEG), officials said during the signing ceremony. The seven-year agreement at an annual interest rate of 5.5 per cent would help Prasac ...
Conference looks at status of the Kingdom's small but growing insurance sector
While Cambodia’s insurance sector has made significant progress over the past few years, it is still relatively small compared to other countries in the region and faces several hurdles. That was the judgment of Bou Chanphirou, deputy director of the financial industry department in the ...
Insurance Premiums Up 40% in First 6 Months
Revenues generated by insurance firms increased 40 percent ro $18.9 million between january and June compared to the same period last year, according to data released yesterday by the General Insurance Association of Cambodia (GIAC). Fire insurance continued to reign as the sector’s top earner, accounting ...
ADB Institute: too much focus on 2015
Masahiro Kawai, dean of the Asia Development Bank Institute, believes too great a focus is being placed on the realization of the 2015 ASEAN Economic Community at the cost of considering middle- and longer-term issues in the ASEAN region. “Economic community-building is not going to be completed in ...
Qatar plans bank in Cambodia to enhance trade
Qatar’s ambassador to Cambodia says his country wants to open a bank here in an effort to enhance, and attract more, trade and investment from Middle East countries to the Kingdom. Bloomberg reported yesterday that Arqaam Capital, a Dubai-based investment bank, had said it was ...
Cambodia Life takes long view approach
A new, government-owned life insurance company aims to provide a safety net for Cambodian families, according to In Meatra, director-general of the Cambodia Life Insurance Company Plc. Located on the 21st floor of Canadia Tower, Cambodia Life opened on May 21 and has 23 employees. “Cambodia ...
http://www.phnompenhpost.com/index.php/2012062256944/Business/cambodia-life-takes-long-view.html
Global insurers expanding in Southeast Asia turn to Cambodia
Two global life insurers are opening offices in Cambodia, one of Southeast Asia’s few untapped insurance markets, as they strengthen their foothold in a region that could eventually be a key driver of revenue growth. Britain’s No. 1 insurer Prudential said on Monday it won in-principle ...
http://uk.reuters.com/article/2012/07/04/cambodia-insurance-pru-manulife-idUKL3E8I32H220120704