Economy and commerce

SME Bank ‘must relax its criteria for loans’

THE President of the Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC) Te Taingpor has requested the SME Bank of Cambodia and participating financial institutions to extend the payment period of the SME Co-Financing Scheme from four to six years and take ...

Sok Chan
https://www.khmertimeskh.com/50720985/sme-bank-must-relax-its-criteria-for-loans/

Agriprocessors urged to take out loans and expand work

The state-run Agricultural and Rural Development Bank (ARDB) has called for small and medium enterprises (SMEs) to expand their agriculture-based processing productions and apply for low-interest rate emergency loans. ...

Chea Vannak
https://www.khmertimeskh.com/50720250/agriprocessors-urged-to-take-out-loans-and-expand-work/

Kingdom to export fresh food to S. Korea by end of June

Hyundai Agro (Cambodia) will export fresh vegetables and other fresh ingredient from Cambodia to South Korea by the end of June this year, its managing director said. ...

Sok Chan
https://www.khmertimeskh.com/50720708/kingdom-to-export-fresh-food-to-s-korea-by-end-of-june/

US trade up 35% in Q1

Bilateral trade between Cambodia and the United States has been valued at $1.678 billion for the first quarter of 2020, representing a 35 percent increase compared with the same time last year, according to trade data from the US Government. ...

Chea Vannak
https://www.khmertimeskh.com/50720675/us-trade-up-35-in-q1/

GMAC demands all payment from buyers

The Garment Manufacturers Association (GMAC) in Cambodia has reiterated an appeal to buyers to source their goods from Cambodia as the economic situation becomes worse with nearly 200 factories suspending their operations because of the COVID-19 pandemic. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50719909/gmac-demands-all-payment-from-buyers/

No loans from $100 million financing scheme

The government’s new $100 million Small and Medium Enterprise Co-Financing Scheme has yet to approve any applications, receiving only some ínquiries pending approval, according to a bank representative. ...

Sok Chan
https://www.khmertimeskh.com/50719826/no-loans-from-100-million-financing-scheme/

Rice exports grew by about 40.5 percent compared with last year

Cambodia’s rice exports to China were 122,094 tonnes (41 percent), to the European Union 97,337 tonnes (32.4 percent), to Asean members 37,428 tonnes (12.5 percent) and to other destinations 43,393 tonnes (14.45 percent). ...

Sok Chan
https://www.khmertimeskh.com/50719616/rice-exports-grew-by-about-40-5-percent-compared-with-last-year/

Cambodia’s bilateral trade drops with Vietnam, yet Thailand steady

The two-way trade of Cambodia with Vietnam experienced a decrease during the first quarter of the year caused by the global pandemic. However, the trade volume with Thailand remained steady. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50719618/cambodias-bilateral-trade-drops-with-vietnam-yet-thailand-steady/

Angkor Wat records a 99.5 percent drop in monthly revenue

Revenue at Cambodia’s Angkor Archaeological Park has seen a staggering decline in revenue from April ticket sales, as extreme travel restrictions due to the COVID-19 pandemic decimated the Kingdom’s most famous attraction. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50719371/angkor-wat-records-a-99-5-percent-drop-in-monthly-revenue/

Cambodia exported over 2 million tonnes of agri-products in the first four months

The Ministry of Agriculture, Forestry and Fisheries, Veng Sakhon said that the Cambodia’s rice exports to the international market grew by about 40.5 percent in the first four months. ...

Sok Chan
https://www.khmertimeskh.com/50719318/cambodia-exported-over-2-million-tonnes-of-agri-products-in-the-first-four-months/

All is not well in the garment sector as exports drop by 50 percent in second trimester

Cambodia’s exports of garment and footwear products are expected to drop from 50 to 60 percent due to the impact of COVID-19 crisis during the second trimester of 2020. ...

Khmer Times Staff
https://www.khmertimeskh.com/50718827/all-is-not-well-in-the-garment-sector-as-exports-drop-by-50-percent-in-second-trimester/

Coronavirus brings trouble to Cambodia’s garment industry

Hundreds of garment factories in Cambodia and elsewhere in Asia are facing serious financial problems because clothing brands have either canceled their orders or stopped placing new ones over the past several weeks.  ...

Khmer Times Staff
https://www.khmertimeskh.com/50718817/coronavirus-brings-trouble-to-cambodias-garment-industry/

Lemongrass from Cambodia to the pots of the world

The update was provided by Veng Sakhon, Minister of Agriculture, Forestry and Fisheries, who said that Cambodia can now export its lemongrass. ...

Khmer Times Staff
https://www.khmertimeskh.com/50718292/lemongrass-from-cambodia-to-the-pots-of-the-world/

Leasing Industry registers 63 percent surge in 2019

The Central Bank has reported that the total value in the leasing industry was recorded at  1,169 billion KHR ($287million), an increase of about  63 percent in 2019 compared with the year before. ...

Sok Chan
https://www.khmertimeskh.com/50718028/leasing-industry-registers-63-percent-surge-in-2019/

Real estate boosted last year but likely to suffer this year

The inflow of foreign direct investment (FDI) into the real estate sector in Cambodia was estimated at more than $437.3 million in 2019, according to data from the just-issued National Bank of Cambodia’s (NBC) Annual Banking Supervision Report 2019. ...

Sok Chan
https://www.khmertimeskh.com/50718100/real-estate-boosted-last-year-but-likely-to-suffer-this-year/

Free-trade talks continue despite the pandemic

Cambodia is closer to inking trade deals with developed economies despite the ongoing COVID-19 pandemic. Seang Thay, a spokesperson at the Ministry of Commerce, told Khmer Times yesterday that the free-trade agreement (FTA) negotiations between Cambodia, South Korea, China and ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50717809/free-trade-talks-continue-despite-the-pandemic/

Cambodia welcomes sisal into crop portfolio

Cambodia will soon start cultivating sisal, an agave plant native to southern Mexico which produces a strong fibre, after China Great Cause (Cambodia) Investment Co Ltd received an economic land concession in Preah Vihear province to build a processing plant. ...

Hin Pisei
https://www.phnompenhpost.com/business/cambodia-welcomes-sisal-crop-portfolio

Government makes push for organic veggies

The government introduced an organic agriculture policy to boost production and export, according to a prakas from the Ministry of Agriculture, Forestry and Fisheries on Sunday. ...

Thou Vireak
https://www.phnompenhpost.com/business/government-makes-push-organic-veggies

Cambodia’s exports to Thailand soar 115 percent

Cambodia’s exports to Thailand skyrocketed in the first three months of this year, although the two countries have faced strict movement of cross-border trade because of the deadly COVID-19 pandemic. ...

Chea Vannak
https://www.khmertimeskh.com/50717339/cambodias-exports-to-thailand-soar-115-percent/

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/

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