World Bank to re-engage after five-year absence
The World Bank has approved $130 million in developmental aid aimed at reducing poverty in Cambodia, signalling its first direct re-engagement with the Kingdom since it left in protest in 2011 after one of the largest forceful evictions led by the government displaced more than ...
Kali Kotoski
http://www.phnompenhpost.com/national/world-bank-re-engage-after-five-year-absence
Protesters hurl eggs at world bank office, promise to return
Residents and evictees from Phnom Penh’s Boeng Kak and Borei Keila neighborhoods returned to the World Bank’s country headquarters on Norodom Boulevard on Monday to hurl eggs at the front gate and demand that the international lender leave Cambodia. ...
Aun Pheap
https://www.cambodiadaily.com/news/protesters-hurl-eggs-at-world-bank-office-promise-to-return-108550/
IMF sees rapid credit growth as main risk to economy
Cambodia’s economy continues to perform strongly, but rapid credit growth must be contained to reduce the risk of economic and financial instability, and to ensure a “soft landing” of the credit cycle, the International Monetary Fund (IMF) said in a statement issued yesterday at the ...
Cam McGrath
http://www.phnompenhpost.com/business/imf-sees-rapid-credit-growth-main-risk-economy
Cambodia, China sign new MoU on money laundering
Cambodia and China last week signed an agreement to exchange financial intelligence to combat money laundering and terrorism financing, though experts said the Kingdom should still be doing more to tackle an issue that has long persisted in the country, in part, due to local ...
Yesenia Amaro
http://www.phnompenhpost.com/national/cambodia-china-sign-new-mou-money-laundering
MFIs tackle over-indebtedness
Clients of microfinance institutions (MFIs) in the Kingdom can now expect some form of protection from over-indebtedness that arises from their inability to meet their financial obligations on time as agreed in a credit agreement. ...
Sok Chan
http://www.khmertimeskh.com/news/27142/mfis-tackle-over-indebtedness/
Lenders come out of the dark
More than a year into a government-backed campaign to clamp down on unlicensed lenders, nearly 130 small lenders operating under the radar have come into the fold, officials said yesterday. ...
Hor Kimsay
http://www.phnompenhpost.com/business/lenders-come-out-dark
Accounting platform seeks funds
The developer of Banhji, a locally developed accounting platform aimed at small- and medium-size enterprises (SMEs), is in talks with investors to secure funding as part of a plan to expand the application beyond Cambodia. Officially launched in October after a four-month beta testing period, ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/accounting-platform-seeks-funds
Microlenders refuse to apply prescribed VAT
The industry body representing the Kingdom’s myriad microfinance institutions (MFIs) threw down the gauntlet yesterday, announcing that its members had categorically rejected a government directive that orders them to charge a value-added tax (VAT) on financial services fees and would not apply it. ...
Hor Kimsay
http://www.phnompenhpost.com/business/microlenders-refuse-apply-prescribed-vat
Economy still on track: World Bank
Despite better than predicted overall growth for global economies, the World Bank has slightly downgraded its 2017 forecast for Cambodia due to wage and price concerns in the Kingdom’s the garment industry as well as uncertainty surrounding next year’s national election. ...
Kali Kotoski
http://www.phnompenhpost.com/business/economy-still-track-world-bank
ADB continues to support disaster management
In order to aid the inclusive and sustainable development of the country, the Asian Development Bank (ADB) will continue to support Cambodia in improving disaster preparedness through strengthening its disaster management capabilities. ...
Sum Manet
http://www.khmertimeskh.com/5085159/adb-continues-support-disaster-management/
Amret gets $245,000 grant from UNCDF
The UN Capital Development Fund (UNCDF) provided Amret Microfinance Cambodia with a grant of $245,000 to help more women in the Kingdom access financial services and eventually contribute to local community development. ...
Sum Manet
http://www.khmertimeskh.com/news/30961/amret-gets--245-000-grant-from-uncdf/
AMRO forsees stable growth ahead
Cambodia’s economic growth is expected to remain stable this year with inflation rising slightly on increases in the costs of global fuel and food prices, the Asean+3 Macroeconomic Research Office (AMRO) concluded following its annual consultation visit to the Kingdom. ...
Kali Kotoski
http://www.phnompenhpost.com/business/amro-forsees-stable-growth-ahead
Asian Development Bank needs to prioritize gender: review
The Asian Development Bank needs to be more involved in helping Cambodia implement gender equality policies in order to “tap the economic potential” for women and close “sizable gender equality gaps”, an internal evaluation has found. ...
Yesenia Amaro
http://www.phnompenhpost.com/national/asian-development-bank-needs-prioritise-gender-review
Garment sector’s lackluster results
Cambodia’s garment exports grew slower than expected by about 4 percent in the first half of the year compared with 9 percent in the same period last year while foreign investment in the sector fell by 30 percent, according to a report released by the ...
Sok Chan and Sum Manet
http://www.khmertimeskh.com/5074380/garment-sectors-lackluster-results/
Prasac inaugurates new HQ in Phnom Penh
Officials expressed optimism that microfinance institution Prasac would be able to attract more deposit placing clients, after the inauguration of its new headquarters in Phnom Penh’s Boeung Tompun district yesterday. Representatives from the National Bank of Cambodia and Prasac expect the new 10-storey building to enhance ...
http://www.phnompenhpost.com/Business/prassacs-new-hq-inaugurated.html
Food, beverage imports rise
Cambodia spent about $200 million on food and beverage imports to supply the domestic market last year – an increase of more than 10 per cent from the previous year, official data from the Ministry of Commerce show. Government officials and representatives of the private sector ...
http://www.phnompenhpost.com/2013021361334/Business/food-beverage-imports-rise.html
Taxes and capital obstacles for small business owners
The exclamations of dismay that come from small-business people in Cambodia when someone tries to take a picture of their shop are to be expected, as they believe the photo will be used to make them pay taxes they cannot afford, but that doesn’t mean ...
First financial leasing company for Cambodia
GL Finance (GLF), the first and only financial leasing company in Cambodia, opened its 11th branch in Phnom Penh on Friday, covering all authorized Honda and NCX dealerships in Phnom Penh and its vicinity. GLF, in partnership with Honda NCX, helps customers buy their own motorbikes and provides ...
Clean energy development presents challenges
With its aim to expand solar energy investment by 12 percent by the end of this year and increase it up to 20 percent over the next three years, Cambodia has been facing challenges of transiting to clean energy development, according to a case study ...
Sorn Sarath
https://www.khmertimeskh.com/50737288/clean-energy-development-presents-challenges/
Cambodia has potential for social businesses
Despite challenges, Cambodia has potential for the establishment and expansion of social businesses, participants of the Microfinance & Social Business Conference in Phnom Penh said yesterday. While social business in Cambodia is still in an early phase compared to micro-finance “Cambodia is a promising land” for such ...