Economy and commerce
ARDB seeks $30M more for SME loans
Agriculture and Rural Development Bank of Cambodia (ARDB) expects to receive an additional $30 million from the government for special-purpose loans to keep the Kingdom’s smaller businesses afloat amid the ongoing economic duress of Covid-19, according to the state-owned bank’s director-general Kao Thach. ...
Thou Vireak
https://www.phnompenhpost.com/business/ardb-seeks-30m-more-sme-loans
‘Allied action required for digital shift’
Cambodia continues to face a multitude of challenges as digital payments and solutions graduate from a niche business to a key segment in the Kingdom’s development strategy, according to National Bank of Cambodia (NBC) assistant governor Chea Serey on March 17. ...
May Kunmakara
https://www.phnompenhpost.com/business/allied-action-required-digital-shift
Worldbridge, Singapore’s Union Gas set to form joint venture, supply LPG in Kingdom
Singapore-listed Union Gas Holdings Ltd has signed a non-binding letter of intent (LoI) with Worldbridge Industrial Developments Co Ltd (WBID) to form a joint venture company (JVCo) to supply and distribute liquefied petroleum gas (LPG) in the Kingdom. ...
Thou Vireak
https://www.phnompenhpost.com/business/worldbridge-singapores-union-gas-set-form-joint-venture-supply-lpg-kingdom
CDC approves eight projects so far in March
Cambodia approved eight investment projects worth over $69 million in the first three weeks of this month that are expected to deliver 5,249 jobs, according to a report from the Council for the Development of Cambodia (CDC). ...
Hin Pisei
https://www.phnompenhpost.com/business/cdc-approves-eight-projects-so-far-march
‘Pandemic fuels demand for management of property’
The pandemic has increased pressure on building operators, resulting in an all-time high in demand for property management, US-based commercial real estate and service and investment firm CBRE – the largest in the world – said yesterday. ...
Husain Haider
https://www.khmertimeskh.com/50826486/pandemic-fuels-demand-for-management-of-property/
Tobacco exports trail off in 2020
Cambodia exported more than 5.8 thousand tonnes of dried tobacco leaves worth more than $17 million to nine countries last year, marking a 14 per cent and 28 per cent decline in volume and value, respectively, over 2019. ...
Thou Vireak
https://www.phnompenhpost.com/business/tobacco-exports-trail-2020
Kampong Speu could get cement plant
Conch KT Cement (Phnom Penh) Co Ltd plans to build a $263 million cement factory in Kampong Speu province with a two-million-tonne-a-year capacity, according to provincial governor Vei Samnang on March 18. ...
Hin Pisei
https://www.phnompenhpost.com/business/kampong-speu-could-get-cement-plant
Exports to South Korea increase for two consecutive months
Data from the Korean International Trade Association showed that during January and February Cambodia exported about $64 million of products to the east Asian country, an increase of over 2.9 percent compared with the same period last year. ...
Chea Vanyuth
https://www.khmertimeskh.com/50826608/exports-to-south-korea-increase-for-two-consecutive-months/
Cambodia’s exports to Vietnam increase
Cambodia’s exports to Vietnam rose in 2020 despite both nations imposing strict cross-border movement control to fight the pandemic. Data from the Ministry of Commerce showed Cambodia’s exports to Vietnam rising by 14.8 percent in 2020 to $385 million. ...
Chea Vanyuth
https://www.khmertimeskh.com/50825872/cambodias-exports-to-vietnam-increase/
NBC’s director-general: Promoting financial inclusion
During an interview with CoinDesk’s online web show, “Money Re-imagined”, the Director-General and Assistant Governor of the National Bank of Cambodia (NBC) Chea Serey explained how the central bank is working towards financial inclusion by encouraging the opening of formal savings accounts. ...
Sok Chan
https://www.khmertimeskh.com/50825873/nbcs-director-general-promoting-financial-inclusion/
Economic forecast for 2021 projects 3.5 percent GDP growth
The Kingdom is forecast to register gross domestic product (GDP) growth of 3.5 percent, a sharp reversal of 2020’s contraction of 3.1 percent, the Ministry of Foreign Affairs and International Cooperation has said in its macroeconomic situation report. ...
Husain Haider
https://www.khmertimeskh.com/50825871/economic-forecast-for-2021-projects-3-5-percent-gdp-growth/
IFC may provide ACLEDA $200 mn to help female entrepreneurs and SMEs
ACLEDA Bank Plc has proposed a five-year, $200 million blended finance investment from the World Bank Group’s International Finance Corporation (IFC), disclosure documents reveal. ...
Husain Haider
https://www.khmertimeskh.com/50825874/ifc-may-provide-acleda-200-mn-to-help-female-entrepreneurs-and-smes/
China demand stretches rubber prices
The prices of Cambodian natural rubber latex on international markets have risen by more than 10 per cent year-on-year in the first quarter, driven by rising demand from China, according to a senior official of the Ministry of Agriculture, Forestry and Fisheries. ...
Hin Pisei
https://www.phnompenhpost.com/business/china-demand-stretches-rubber-prices
Feb 20 event further weighs on transport, logistics
The February 20 community transmission has compounded the woes of the transport and logistics sectors still reeling from the Covid-19 health crisis. ...
Thou Vireak
https://www.phnompenhpost.com/business/feb-20-event-further-weighs-transport-logistics
Kingdom joins ASEAN securities plan
The newly-renamed Securities and Exchange Regulator of Cambodia (SERC) and its nine capital-market-regulator counterparts in ASEAN on March 15 signed a new five-year Action Plan 2021-2025 for the development of the sector. ...
May Kunmakara
https://www.phnompenhpost.com/business/kingdom-joins-asean-securities-plan
Property tax app: Convenience, transparency and efficiencies
The General Department of Taxation (GDT) has announced that payment of property tax is now possible via mobile phone through the “GDT Taxpayer App”. The announcement was issued on March 11 and signed by Kong Vibol, minister attached to the Prime Minister and director-general of ...
Sok Chan
https://www.khmertimeskh.com/50824752/property-tax-app-convenience-transparency-and-efficiencies/
Visa profiles survival strategies of small businesses during pandemic
According to a new think-piece released by Visa, small businesses have demonstrated their resilience by adapting quickly to the impact of COVID-19. ...
Khmer Times Staff
https://www.khmertimeskh.com/50824887/visa-profiles-survival-strategies-of-small-businesses-during-pandemic/
Retail sector feels pinch of Covid-19 outbreak
Most retail businesses in Phnom Penh have seen a substantial plunge in sales since the February 20 community transmission, which continues to spread across the capital and to the provinces. ...
Thou Vireak
https://www.phnompenhpost.com/business/retail-sector-feels-pinch-covid-19-outbreak
Community to become first mango winemaker
A Tbong Khmum provincial farming community is on tenterhooks as it waits for its 11 20-litre batches of mango wine to ferment, in a new project backed by the provincial agriculture department as it explores new opportunities for the fruit. ...
Hin Pisei
https://www.phnompenhpost.com/business/community-become-first-mango-winemaker
KiwiPay plan merger with Meal Temple
Hong-Kong-based fintech firm Kiwi Pay Group Co Ltd (KiwiPay) announced a strategic merger with Cambodian food and grocery delivery start-up Meal Temple Group Pty Ltd to enter more developing markets with a new app called KiwiGo. ...
Thou Vireak
https://www.phnompenhpost.com/business/kiwipay-plan-merger-meal-temple
Trade chambers ask GDT to delay income-tax date
Nine international business chambers have called on the General Department of Taxation (GDT) to extend the deadline for filing tax on income for fiscal year 2020 past March 31 in light of economic pressure caused by the Covid-19 pandemic. ...
May Kunmakara
https://www.phnompenhpost.com/business/trade-chambers-ask-gdt-delay-income-tax-date
Video talks set stage for crucial EAEU FTA meet
The Kingdom’s technical team and its Eurasian Economic Commission (EEC) counterpart recently assembled to share thoughts and opinions as both parties prepare for the third round of preliminary working-level talks toward formally launching free trade agreement (FTA) negotiations and expand trade markets and investments. ...
May Kunmakara
https://www.phnompenhpost.com/business/video-talks-set-stage-crucial-eaeu-fta-meet
Tickets now allow more days of access to Angkor
Angkor Enterprise has extended the period of validity for entry tickets to Angkor Archaeological Park in a move to revive tourism to the sprawling temple complex, it said in a March 10 press release. ...
Thou Vireak
https://www.phnompenhpost.com/business/tickets-now-allow-more-days-access-angkor
CLV PMs talk trade, investment
Cambodia, Laos and Vietnam (CLV) on March 10 reaffirmed their commitment to boost border trade and investment with a specific focus on the construction of border markets and to improve customs clearance procedures. ...
Thou Vireak
https://www.phnompenhpost.com/business/clv-pms-talk-trade-investment