Economy and commerce

Only ‘legal’ SMEs to benefit from aid package: Ministry

The $800 million to $2 billion COVID-19 stimulus package announced by Prime Minister Hun Sen last month will only be given to those businesses that are legally registered and are formally verified, the Ministry of Economy and Finance has said. ...

Harrison White
https://www.khmertimeskh.com/50708031/only-legal-smes-to-benefit-from-aid-package-ministry/

Exports of farm goods hit 3m in Q1 this year

Cambodia exported a total of 2,936,992 tonnes of agricultural commodities and products to the international markets during the first quarter of the year. Increasing 20 percent from the same period last year, according to a report from the Ministry of Agriculture, Forestry and Fisheries released ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50708403/exports-of-farm-goods-hit-3m-in-q1-this-year/

A serious concern: Cambodians’ $8 billion microfinance debt

Impending COVID-19 health measures and high levels of micro debt pose a serious concern for the approximately 2.4 million Cambodians with a combined outstanding debt of $8 billion, according to a World Bank report released this week. ...

Harrison White
https://www.khmertimeskh.com/50708402/a-serious-concern-cambodians-8-billion-microfinance-debt/

Ministry: No plans to revise 6% economic growth forecast

The government is evaluating the current economic situation and monitoring the impact of the ongoing Covid-19 pandemic to determine whether to adjust its six per cent projection for economic growth this year, Ministry of Economy and Finance spokesman Meas Sok Sensan said on Wednesday. ...

Long Kimmarita
https://www.phnompenhpost.com/business/ministry-no-plans-revise-6-economic-growth-forecast

Cambodia-U.S trade volume up by 33 percent to US$585 million in January

Bilateral trade between Cambodia and the U.S. were valued at US$585 million in January 2020, up 33 percent compared to the same period last year. ...

Khmer Times Staff
https://www.khmertimeskh.com/50708596/cambodia-u-s-trade-volume-up-by-33-percent-to-us585-million-in-january/

Vietnam invests $9.5 million in Cambodia

Cambodia was recorded as the third largest recipient of Vietnamese investment during the first quarter of this year, according to a report released by the Foreign Investment Agency under the Ministry of Planning and Investment in Vietnam.​ ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50708029/vietnam-invests-9-5-million-in-cambodia/

Cash infusion set for financial sector

The government will disburse between $500 and $600 million in low-interest loans to financial institutions to enable them to provide loans to businesses at lower interest rates. ...

May Kunmakara
https://www.phnompenhpost.com/business/cash-infusion-set-financial-sector

Trade across Cambodia-Vietnam border remains stable amid COVID-19 outbreak

Trade activities across the Vietnam- Cambodia border have been maintained despite the halt of entry and exit of citizens and tourists as a measure to curb the spread of the acute respiratory disease caused by the coronavirus SARS-CoV-2 (COVID-19). ...

Khmer Times Staff
https://www.khmertimeskh.com/50707441/trade-across-cambodia-vietnam-border-remains-stable-amid-covid-19-outbreak/

Cambodia new investments totaling $900 million spread over nine provinces

Cambodia registered 40 new investment projects worth more than US$900 million in the first three months of this year, according to the Council for the Development of Cambodia (CDC). ...

Khmer Times Staff
https://www.khmertimeskh.com/50706552/cambodia-new-investments-totaling-900-million-spread-over-nine-provinces/

Fighting corruption in business

The Anti-Corruption Unit (ACU) yesterday inked a memorandum of understanding (MoU) with the Japanese Business Association in Cambodia (JBAC), to build trust and create a better investment environment for Japanese companies and other investors in Cambodia. ...

Sok Chan
https://www.khmertimeskh.com/50706190/fighting-corruption-in-business/

Borders still open to trade, PM says

On Wednesday, Prime Minister Hun Sen said Cambodia remains open to cross-border trade with neighbouring countries, but the borders will remain closed to citizens and travelers. ...

May Kunmakara
https://www.phnompenhpost.com/business/borders-still-open-trade-pm-says

Cambodia-Indonesia trade rise to record high in 2019

Bilateral trade between Cambodia and Indonesia jumped 46 per cent to a record high of more than $792 million last year, from $543 million in 2018, the Ministry of Commerce said. ...

Thou Vireak
https://www.phnompenhpost.com/business/cambodia-indonesia-trade-rise-record-high-2019

Cambodian economy will be ‘worst hit in Asean’ ADB

The Asian Development Bank (ADB) said the Kingdom will see losses amount to more than $390 million due to the economic impact of the Covid-19 outbreak this year. ...

Thou Vireak
https://www.phnompenhpost.com/business/cambodian-economy-will-be-worst-hit-asean-adb

Thailand proposes to close all borders with Cambodia to prevent the widespread of Covid-19 except freight

Thailand closes all road travels with Cambodia and tightens conditions for air travel as the measures to prevent the widespread of Covid-19. Thai authorities have begun to carry out the notification of a temporary travel suspension of all border entrances, with some of the ports ...

Niem Chheng
https://bit.ly/2xhAuRj

Cross-border deal inked to maintain trade amid Covid-19

Cambodia​ and​ Vietnam​ have​ agreed​ to​ allow​ cargo​ trailers​ to​ enter​ the​ common​ Bavet-Moc​ Bai​ border,​ located​ in​ Cambodia’​ Svay​ Rieng​ province​ (Bavet)​ and​ Vietnam’s​ Tay​ Ninh​ province​ (Moc​ Bai)​ after​ movement​ restrictions​ were​ enforced​ to​ prevent​ a​ Covid-19​ outbreak.​ ...

Thou Vireak
https://www.phnompenhpost.com/business/cross-border-deal-inked-maintain-trade-amid-covid-19

Trade to continue as normal

Although controls have been tightened due to the new coronavirus, trade between Cambodia and Vietnam continues, with the countries aiming to achieve $5 billion in trade by the end of the year, a Vietnamese official has confirmed. ...

May Kunmakara
https://www.phnompenhpost.com/national/trade-continue-normal

Casino workers protest unpaid wages

Nearly a hundred employees of Sihanoukville’s Yaduoli Casino yesterday staged a protest over outstanding wages after the company failed to pay them. ...

Sen David
https://www.khmertimeskh.com/50704577/casino-workers-protest-unpaid-wages/

Coronavirus impacts national development plan

The Ministry of Planning said yesterday COVID-19 will hinder a national development plan from upgrading the Kingdom to become a higher middle income country. ...

Sun Mesa
https://www.khmertimeskh.com/50703579/coronavirus-impacts-national-development-plan/

GMAC: European and American markets have announced a suspension on garment exports from Cambodia

Some foreign garment buyers have notified garment factories in Cambodia for a suspension on the shipment of garment exports from Cambodia to European and US markets due to the effects of the COVID-19 outbreak. The statement comes after the recent arrival of raw materials from ...

Vietnam, Cambodia work to ensure smooth cross-border goods transport

Cambodia has asked for Vietnam’s coordination to ensure uninterrupted cross-border transport of goods amid the COVID-19 epidemic. ...

VIetnam Plus Staff
https://en.vietnamplus.vn/vietnam-cambodia-work-to-ensure-smooth-crossborder-goods-transport/170382.vnp

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