Economy and commerce
SMEs urged to register with the new specialised bank
The president of the Federation of Association of Small and Medium Enterprises of Cambodia (Fasmec) is urging small and medium-sized enterprises (SMEs) to register with the association to get benefits from the newly formed SMEs Bank of Cambodia. ...
Sorn Sarath
https://www.khmertimeskh.com/50717402/smes-urged-to-register-with-the-new-specialised-bank/
New NBC guidelines on financial institutions
The National Bank of Cambodia (NBC) has requested financial institutions to reduce credit-related fees and lift fines until the end of December 2020, according to a letter it wrote. ...
Sok Chan
https://www.khmertimeskh.com/50717330/new-nbc-guidelines-on-financial-institutions/
Kingdom’s neighbours may start to ease restrictions
Cambodia’s bellwether neighbours – Thailand and Vietnam – have started to propose easing extreme COVID-19 restrictions that have devastated local economies and greatly affected civil society because of ultra-low rates of new infections and no new deaths last week. ...
Harrison White
https://www.khmertimeskh.com/50717221/kingdoms-neighbours-may-start-to-ease-restrictions/
ARDB loans: More SMEs apply
Seven small and medium-sized enterprises (SMEs) have applied for $200,000 loans from the state-owned Agricultural and Rural Development Bank (ARDB), after it announced the launch of a $50 million fund for SMEs last month. ...
Thou Vireak
https://www.phnompenhpost.com/business/ardb-loans-more-smes-apply
New factories employe nearly 28k
The Ministry of Industry, Science, Technology and Innovation (MISTI) has reported that 77 new factories opened in Cambodia in the first three months of 2020, employing a total of 27,909 workers. ...
Sok Chan
https://www.khmertimeskh.com/50716520/new-factories-employe-nearly-28k/
‘SME Development Policy’ drafted for approval
A draft development policy for Small and Medium Enterprise (SME) and a new SME definition has been sent to the Ministry of Economy and Finance’s Economic and Financial Policy Committee (EFPC) for review and approval, according to a senior official. ...
Sok Chan
https://www.khmertimeskh.com/50716393/sme-development-policy-drafted-for-approval/
Gov’t disburses $50 million through Agricultural and Rural Development Bank
The government has disbursed $50 million through the Rural Development and Agriculture Bank (RDAB) to provide low-interest loan to small farmers and small and medium enterprises. ...
Srey Kumneth
https://www.khmertimeskh.com/50716279/govt-disburses-50-million-through-agricultural-and-rural-development-bank/
PPCBank raises $10M, lists first corporate bond on CSX
South Korea-owned Phnom Penh Commercial Bank Plc (PPCBank) on Tuesday officially listed its first corporate bond on the Cambodia Securities Exchange (CSX). ...
May Kunmakara
https://www.phnompenhpost.com/business/ppcbank-raises-10m-lists-first-corporate-bond-csx
Cambodia continues to attract FDI with another $21 million in investments and 3,500 jobs
The Council for the Development of Cambodia (CDC) has given the approval for five new investment projects with a total investment capital of $21.3 million. ...
Khmer Times Staff
https://www.khmertimeskh.com/50715348/cambodia-continues-to-attract-fdi-with-another-21-million-in-investments-and-3500-jobs/
Four more investment projects approved by CDC
The Council for the Development of Cambodia (CDC) has approved four more investment projects, expecting to create almost 1,500 jobs for the locals. ...
Khmer Times Staff
https://www.khmertimeskh.com/50715646/four-more-investment-projects-approved-by-cdc/
Agriculture to be a key pillar for economy
NBC’s Director-General has said that agriculture could potentially contribute to Cambodia’s economic growth as the workforce in the sector continues to increase while productivity remains high. ...
Sok Chan
https://www.khmertimeskh.com/50715090/agriculture-to-be-a-key-pillar-for-economy/
Three-month tax exemption for hotels, guesthouses
The government has given a three-month tax exemption to hotels, guesthouses, restaurants and travel agencies in Phnom Penh and several provinces as the industry feels the pinch over the coronavirus pandemic. ...
Pech Sotheary
https://www.khmertimeskh.com/50715189/three-month-tax-exemption-for-hotels-guesthouses/
Migrants’ home remittances dwindle
As the Coronavirus pandemic hits jobs and wages in many sectors of the global economy, a slowdown in the amount of money sent home by migrant workers looks increasingly likely, according to a report by World Economic Forum (WEF). ...
Sorn Sarath
https://www.khmertimeskh.com/50715088/migrants-home-remittances-dwindle/
MFIs respond to affected customers
Microfinance institutions (MFIs) have taken some actions to restructure their loans for affected customers because of the COVID-19 pandemic, according to the Cambodia Microfinance Association (CMA). ...
Sok Chan
https://www.khmertimeskh.com/50714667/mfis-respond-to-affected-customers/
IMF sees Cambodia registering a combined GDP growth of one percent this year and to expand to 8.5 percent in 2021
The International Monetary Fund (IMF)said that the outlook for some Asia Pacific countries were much brighter, including Cambodia which is forecasted to have a nominal combined GDP projected growth of 1.0 percent this year before surging 8.5 percent next year. ...
Khmer Times Staff
https://www.khmertimeskh.com/50714379/imf-sees-cambodia-registering-a-combined-gdp-growth-of-one-percent-this-year-and-to-expand-to-8-5-percent-in-2021/
CDC okays five projects to create 6,373 jobs
The Council for the Development of Cambodia (CDC) issued final registration certificates to five investment projects between April 13-17 worth more than $24 million and which are expected to generate 6,373 jobs. ...
Hin Pisei
https://www.phnompenhpost.com/business/cdc-okays-five-projects-create-6373-jobs
Rice exports to East Timor agreed in principle
Cambodia and East Timor have moved closer to sealing a rice-export deal following a meeting between officials. ...
Chea Vannak
https://www.khmertimeskh.com/50714833/rice-exports-to-east-timor-agreed-in-principle/
Rubber exports up by 10 percent in Q1
Cambodia’s rubber export has increased 10 percent in the first quarter of this year compared with the same period last year, but the price of the commodity showed a slight decrease, according to a report from Ministry of Agriculture, Forestry and Fisheries. ...
Chea Vannak
https://www.khmertimeskh.com/50714831/rubber-exports-up-by-10-percent-in-q1/
Impact of Coronavirus on real estate
Property watchers have long noticed that weekends, at this time of the year, are a prime times for people seeking to buy or rent homes, but this year it’s different. ...
Yeshi Dema
https://www.khmertimeskh.com/50714661/impact-of-coronavirus-on-real-estate/
Cambodia drops 8 places in Economic Freedom Index
Cambodia’s ranking in the Index of Economic Freedom dropped by eight places from last year, a negative sign for a country seeking to expand its economy and become a major player in Southeast Asia. ...
Jose Rodriguez T. Senase
https://www.khmertimeskh.com/50714184/cambodia-drops-8-places-in-economic-freedom-index/
Exports through Svay Rieng increase by $237 million
Cambodia’s exports through three Special Economic Zones in Svay Rieng province, which shares a border with Vietnam, have recorded a $237 million rise in the first quarter of 2020. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50713731/exports-through-svay-rieng-increase-by-237-million/
Economy to contract for the first time since conflict ended
The International Monetary Fund (IMF) has predicted Cambodia’s 2020 Gross Domestic Product will contract by -1.7 percent this year in line with a global contraction of -3.0 percent. The reduction in GDP represents an economic downturn the world has not seen since the Great Depression, ...
Harrison White
https://www.khmertimeskh.com/50713591/economy-to-contract-for-the-first-time-since-conflict-ended/
Gov’t set to finalise antitrust, competition draft law
The government will soon finalise a draft law on antitrust and competition, and submit it to the National Assembly for approval, Ministry of Commerce senior official told The Post on Wednesday. ...
Thou Vireak
https://www.phnompenhpost.com/business/govt-set-finalise-antitrust-competition-draft-law
Int’l digital payment firms ‘committed’ to de-dollarisation
Visa Inc. is one of several international digital payment firms who have said they are committed to supporting the government and the National Bank of Cambodia (NBC) in their de-dollarisation mission. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50713285/intl-digital-payment-firms-committed-to-de-dollarisation/