Economy and commerce

President and Group Managing Director of ACLEDA Bank Plc In Channy has announced that the bank has reserved nearly $600 million for lending to the small and medium enterprises (SMEs) sector in Cambodia in 2021. ...

Consumer credit performance is showing consistent improvement as both loan balances and the number of loan accounts issued are undergoing sustained positive growth, according to a report from the Credit Bureau Cambodia (CBC). ...

CAMBODIA’s financial sector will not face a shortage of cash to lend to local enterprises and accelerate business anytime soon, according to Association of Banks in Cambodia (ABC) president In Channy. ...

The Council for the Development of Cambodia (CDC) in the first month of this year approved 11 investment projects worth over $43 million and that are expected to generate 7,854 jobs, it said via social media. ...

Kuala Lumpur-based Apigate Sdn Bhd has successfully rolled out its Storefront solution with Cambodia’s leading mobile telecommunications operator Smart Axiata Co Ltd, Apigate said in a press release on January 27. ...

Cambodia’s newly-drafted Investment Law will be in effect as soon as in April 2021, according to Ministry of Economy and Finance secretary of state Phan Phalla on January 27. He made the remark at the Public Forum on Macroeconomic Management and Budget Law 2021, ushering ...

Corporate leaders and senior officials attended the second Stakeholder Dialogue on Consumer Protection yesterday. The Kingdom drafted its Law on Consumer Protection in 2019 to comply with the Consumer Protection in ASEAN project, which aims to increase competitiveness in the region. ...

Cambodia has invited Russian investors to consider taking part in Cambodia’s oil sector. The invitation was made following Cambodia’s recent start of oil production in its maritime territory. ...

The Kingdom’s real economic growth is expected to recover by 4 percent in 2021 following a contraction of 3.1 percent in 2020, according to a report from the Ministry of Economy and Finance (MEF). ...

According to the government’s release this week of the Kingdom’s 2019 census report, the manufacturing and service sectors have accounted for the largest rise in employment over the last decade, seeing millions of jobs created across the country. ...

A $3.1 million garment factory will be built in Bati district of Takeo province, creating 702 jobs for the locals. The update was shared in a press release from the Council for the Development of Cambodia (CDC) yesterday following its approval of the investment project. ...

The government plans to boost non-garment manufacturing exports this year on the back of strong market demand as the availability of viable Covid-19 vaccines jumpstarts a global economy hungry for recovery. ...

The Ministry of Commerce is pressing on to register some of the Kingdom’s more renown products as collective trademarks and grant them domestic geographical indication (GI) to provide them with added exposure on the international market. ...

The ongoing COVID-19 pandemic presents both challenges and opportunities to medical consultancies and air ambulance businesses in Cambodia and other parts of Southeast Asia. ...

National Bank of Cambodia (NBC) officially launched its national retail payment system  “Retail Pay” yesterday to support and provide fast payment facilities for trade settlement and fund transfers in the Kingdom. ...

Just as the world scrambled for vaccines in the face of the COVID-19 pandemic, businesses were also forced to adapt to find their own commerce cures. ...

Prime Minister Hun Sen has called for joint efforts to boost economic recovery, and support three million vulnerable citizens, speaking at the inauguration of the “Techo Sen Public Works and Transport” building on Friday. ...

Cambodia imported iron and steel worth $281.06 million last year, down 41.11 per cent from 2019’s $477.26 million and exported $6.20 million, rocketing 351 per cent from $1.37 million, according to the Ministry of Commerce. ...

The Council for the Development of Cambodia (CDC) has approved a $2.3 million cardboard factory project to be built in Khan Kambol of Phnom Penh. The CDC shared the update in a press release yesterday, adding that the project will create 214 jobs for the ...

Khmer Enterprise, a unit under the Ministry of Economy and Finance (MEF) and EnergyLab, Cambodia’s only energy start-up incubator, have inked a partnership agreement to support clean energy start-ups in the agriculture, fishery, and aquaculture sectors in Cambodia with funds from the European Union. ...

Fresh off the largest initial public offering in its history, the Cambodia Securities Exchange (CSX) is courting small and medium enterprises (SMEs) to list on its main board. ...

The South Korean Assembly has passed a bill to ratify a double tax agreement (DTA) with Cambodia. Double Taxation Agreements (DTAs) are treaties between two or more countries to avoid international double taxation of income and property. ...

Camboticket entered the market in 2014 and soon found its niche among foreign travellers. However, it is currently sustaining daily operations because of locals adopting the bus ticket-booking platform. ...

Bilateral trade between Cambodia and Thailand for 2020 reached only half of the $15 billion target set by the two governments in 2015.  Those targets had set a goal of tripling two-way trade. Two-way trade between the two nations was valued at $7.236 billion last ...