Economy and commerce

The Garment Manufacturers Association in Cambodia (GMAC) on Sunday denied a news report that the European Commission had rejected its request to postpone the withdrawal of the EBA scheme for 12 months. ...

Minister Thong Khon said during the launch of additional safety measures for tourism-based business that the global virus has hit the tourism sector the hardest around the world and Cambodia will see it’s foreign and local visitors decline by about 70 percent and 50 percent ...

The first consignment of fresh Cambodian mangoes will soon be able to directly ship to the Chinese market. The quota allowed is up to 500,000 tonnes of quality mangoes per year, the Chinese embassy to Cambodia said yesterday. ...

Banteay Meanchey administration said the province boasts potential investment activities which need more power to meet local demand as it aims to reduce the energy imports from its neighbour Thailand in the northwest. ...

Cambodia should ask China to increase the rice import quota from the Kingdom, said Mr. Song Saran, President of Cambodia Rice Federation, in a consultative meeting with private sector held at the Ministry of Commerce Wednesday. ...

Khmer Enterprise, a unit under the Ministry of Economy and Finance (MEF), Cambodia Australia Agricultural Value Chain Program (CAVAC), and the Institute of Technology of Cambodia (ITC), inked a partnership agreement to driving food-processing innovations through small and medium enterprises (SMEs) in the Kingdom. ...

During the first five months of 2020, Cambodia exported 22,762 tonnes of yellow bananas, wherein 14,414 tonnes to Vietnam and 8,348 others to China. The update was provided by Veng Sakhon, Minister of Agriculture, Forestry and Fisheries when inspecting the progress of agro-industrial crop development ...

Cambodia Airports, the longstanding concessionaire of Cambodia’s network of 3 international airports unveiled a 20-year development and investment program for the international airport in Sihanoukville. ...

Prime Minister Hun Sen on Friday has clarified to the public that the  $1, $2 and $5 US bank notes are still accepted  normally in the Kingdom. ...

Cambodia’s local property sector has been described as “flat” while condominiums and boreys are tagged to be the hardest hit during the COVID-19 pandemic because the listings will eventually need to be put up for sale under current market prices in the coming months, according ...

Cambodia has exported 356,097 tonnes of milled rice to foreign markets during the first five months of this year.​ The figure shows an increase by 105,925 tonnes or 42.34 percent compared to the same period in the previous year, according to Minister of Agriculture, Forestry ...

Reports of local vendors refusing to accept small US currency banknotes has continued over the weekend, despite repeated calls from both the Kingdom’s central bank and Prime Minister Hun Sen that all US currency banknotes will still be considered “legal tender”. ...

Following a bruising first quarter, the Cambodia Securities Exchange (CSX) index has picked up over the last few days after Acleda Bank Plc’s (ABC’s) initial public offering (IPO).​ At Thursday’s close, the index ended 7.25 per cent higher at 793.59 points. Trading volume reached 280,791 ...

The Council for the Development of Cambodia (CDC) has given the green light to three new investment projects with a total investment capital of $246.1 million. According to the council, the newly approved projects are expected to create some 1,547 jobs for the locals. ...

As the number of unemployed climb day by day and with limited employment opportunities, mounting debts and lack of economic opportunities, Cambodia risks being left behind by its bigger Asean partners. ...

Agriculture Rural Development Bank (ARDB) together with Wing (Cambodia) Ltd Specialized Bank and Cambodia Investors Corp (CIC) inked a memorandum of understanding (MoU) to facilitate loan repayments, encourage the use of digital banking and to provide information to borrowers to guarantee the credit deal. ...

Around 25 international flights are entering and leaving Cambodia every week mostly from China, according to Cambodia’s State Secretariat of Civil Aviation (SSCA).​ ...

Agriculture Rural Development Bank (ARDB) together with Wing (Cambodia) Ltd Specialized Bank and Cambodia Investors Corp (CIC) inked a memorandum of understanding (MoU) to facilitate loan repayments, encourage the use of digital banking and to provide information to borrowers to guarantee the credit deal. ...

Cambodia’s Ministry of Economy and Finance has granted a business licence to Etiqa Insurance & Takaful, a leading insurance provider in Malaysia, paving the way for the firm to tap into the Kingdom’s nascent insurance market, the company announced. ...

Construction on a 400 megawatt (mW) heavy fuel oil power project in Kandal province’s Lvea Em district, which was planned to begin operations in the first part of June, will not be able to move forward as planned. ...

Business advocates are continuing to call on the Cambodian government to further support the local economy during and after the COVID-19 pandemic – through the implementation of collateral-free working loans and new policies to encourage more foreign direct investment in the Kingdom. ...

Five more investment projects worth $174.8 million have been approved, according to a press release of the Council for the Development of Cambodia issued on May 22. ...

The Capital Market saw a 22 per cent drop capitalisation in the first quarter of the year, bringing the market capitalisation to around $544million, compared with the fourth quarter of 2019. From January to March in 2020, the Phnom Penh Special Economic Zone (PPSP)’s share ...

Khmer Enterprise (KE), an implementation unit of the Entrepreneurship Development Fund established by the Ministry of Economy and Finance (MEF), and SHE Investments, Cambodia’s first and only gender-focused and culturally tailored business incubator and accelerator, have jointly developed the Digital Resource Center for Micro, Small ...