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Economy and commerce

Financial institutions see jump in lockdown-era digital transactions

Financial institutions (FI) logged a sudden spike in digital transactions during lockdown, adding further to the upward momentum fuelled by rising fears triggered by a spike in new Covid-19 cases found in connection to the February 20 community transmission. ...

May Kunmakara
https://www.phnompenhpost.com/business/financial-institutions-see-jump-lockdown-era-digital-transactions

CSX continues executing trades under lockdown

Bowed but unbeaten, the spritely Cambodia Securities Exchange (CSX) is churning away under lockdowns that have affected nearly every aspect of the Kingdom’s economy. ...

Husain Haider
https://www.khmertimeskh.com/50842455/csx-continues-executing-trades-under-lockdown/

IMF highlights divergent global recovery levels

THE International Monetary Fund’s (IMF) World Economic Outlook prediction that the globe will recover at vastly uneven levels has been brought into sharp focus in light of recent lockdowns in Cambodia. ...

Brian Badzmierowski
https://www.khmertimeskh.com/50842469/imf-highlights-divergent-global-recovery-levels/

Smile Shop catering to lockdown demand for groceries

In response to increased demand during lockdown, Smile Shop, a local e-shop, is offering new users a $10 discount on their first purchase for orders of $25 or more. They ensure deliveries are made between two and 12 hours post ordering in Phnom Penh. ...

Brian Badzmierowski
https://www.khmertimeskh.com/50842449/smile-shop-catering-to-lockdown-demand-for-groceries/

Bakong top in digital currency index

Cambodia’s digital retail ecosystem was ranked first in Asia and second globally in the PricewaterhouseCooper (PwC) inaugural Central Bank Digital Currency (CBDC) Global Index. ...

Husain Haider
https://www.khmertimeskh.com/50842250/bakong-top-in-digital-currency-index/

Garment lobby calls for understanding as lockdown halts production

Garment Manufacturers Association in Cambodia (GMAC) on April 19 urged buyers and stakeholders not to penalise its members for failing to honour pre-agreed delivery commitments during the ongoing lockdown measures imposed by the government. ...

May Kunmakara
https://www.phnompenhpost.com/business/garment-lobby-calls-understanding-lockdown-halts-production

Commerce ministry rolls out mobile markets to Red Zones

The Ministry of Commerce on April 20 dispatched five trucks to seven “Red Zones” to sell food products and groceries at below-market prices during the ongoing two-week coronavirus lockdown in Phnom Penh and adjacent Takmao town in Kandal province, according to undersecretary of state Pen ...

Thou Vireak
https://www.phnompenhpost.com/business/commerce-ministry-rolls-out-mobile-markets-red-zones

Lockdown opens a window for e-commerce

With authorities tightening security to prevent community transmission in Phnom Penh and Kandal province’s Takhmao town, e-commerce activity, cashless payments and delivery services have logged a notable rise, swiftly becoming new features of the digital world in Cambodia. ...

May Kunmakara
https://www.phnompenhpost.com/business/lockdown-opens-window-e-commerce

Aquaculture group urges authorities to enforce import rules, ease transport issues

The Cambodian Aquaculturist Association (CAA) on April 19 called on relevant authorities and institutions to enforce compliance with fish-import regulations and facilitate transport for distributors to ensure an adequate market supply of fish to reverse a recent price jump. ...

https://www.phnompenhpost.com/business/aquaculture-group-urges-authorities-enforce-import-rules-ease-transport-issues
https://www.phnompenhpost.com/business/aquaculture-group-urges-authorities-enforce-import-rules-ease-transport-issues

COs still issued amid lockdown, logistics bottlenecks

The Ministry of Commerce urged producers and exporters to continue applying for certificates of origin (CO) despite transport and logistics issues stemming from the ongoing lockdown in Phnom Penh and Takhmao town. ...

Thou Vireak
https://www.phnompenhpost.com/business/cos-still-issued-amid-lockdown-logistics-bottlenecks

New business activity ongoing despite Coronavirus challenges

Five new factories worth $20.5 million have been approved to be established this month, according to the Council for the Development of Cambodia (CDC). The CDC’s investment committee issued a registration certificate to the companies operating the factories on April 13. About 3,700 jobs are ...

Brian Badzmierowski
https://www.khmertimeskh.com/50840963/new-business-activity-ongoing-despite-coronavirus-challenges/

CGCC executive clarifies Business Recovery Guarantee Scheme process

Small businesses raising questions about the process of applying for a loan through the newly formed Credit Guarantee Corporation of Cambodia (CGCC)’s Business Recovery Guarantee Scheme (BRGS), has prompted CGCC’s chief executive officer Mr. Wong Keet Loong to provide an overview of how the scheme ...

Brian Badzmierowski
https://www.khmertimeskh.com/50840936/cgcc-executive-clarifies-business-recovery-guarantee-scheme-process/

Revenue from international tourism dips 80 per cent in 2020

Cambodia booked just $1.023 billion in international tourism revenue last year, representing a 79.4 percent nosedive from $4.919 billion in 2019 due to the sweeping effects of the global Covid-19 pandemic, the Ministry of Tourism reported on April 19. ...

Hin Pisei
https://www.phnompenhpost.com/business/revenue-international-tourism-dips-80-cent-2020

Phnom Penh Autonomous Port maintains growth in Q1

Locally-listed Phnom Penh Autonomous Port (PPAP) reported $7,770,742 in revenue for the first quarter of 2021, up 2.19 percent over the $7,603,877 posted in the corresponding period last year. ...

Hin Pisei
https://www.phnompenhpost.com/business/phnom-penh-autonomous-port-maintains-growth-q1

In-stream adverts disappear from YouTube in Kingdom

The once omnipresent advertisements peppered throughout YouTube videos have disappeared for viewers in Cambodia, allowing domestic viewers to watch any video hosted on the site ad-free, regardless of its length or its country of origin. ...

Brian Badzmierowski
https://www.khmertimeskh.com/50840933/in-stream-adverts-disappear-from-youtube-in-kingdom/

Major banking houses deny relationship with GFX as ‘embezzled’ funds reach $27M

Allegations that GoldFX Co Ltd (GFX) board members embezzled what is now understood to be $27 million took a twist as financial houses said they had no relationship with the derivatives company. ...

Husain Haider
https://www.khmertimeskh.com/50840914/major-banking-houses-deny-relationship-with-gfx-as-embezzled-funds-reach-27m/

Local rice producers sell at discount

A number of Cambodia Rice Federation (CRF) member companies have reduced retail prices of milled rice by 10,000-20,000 riel ($2.50-5) per 50kg sack to participate in government efforts to improve people’s livelihoods during the ongoing two-week coronavirus lockdown in Phnom Penh and adjacent Takhmao town ...

Thou Vireak
https://www.phnompenhpost.com/business/local-rice-producers-sell-discount

Taxpayers still able pay online during lockdown

The General Department of Taxation (GDT) has advised taxpayers and tax service agencies located in lockdown-restricted areas to electronically file income tax returns and avoid the risk of spreading the novel coronavirus. ...

Hin Pisei
https://www.phnompenhpost.com/business/taxpayers-still-able-pay-online-during-lockdown

Cambodia registers about 8,000 trademarks in 2020

Local and international companies registered 7,997 trademarks with the Ministry of Commerce 2020, up 30 percent over the previous year, the ministry reported. The ministry said it mediated 23 cases of infringement and dissolved 37 trademarks during the year. ...

Thou Vireak
https://www.phnompenhpost.com/business/cambodia-registers-about-8000-trademarks-2020

Cambodia maintains export growth to South Korea

Cambodia exported $99.07 million worth of merchandise to South Korea in the first quarter of 2021, marking a marginal increase of more than five per cent from $93.85 in January-March of last year despite the ongoing Covid-19 pandemic, according to data from the Korea International ...

Hin Pisei
https://www.phnompenhpost.com/business/cambodia-maintains-export-growth-south-korea

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