Economy and commerce

Nearly $70 million investment projects licensed, to create 5,000 jobs

Council for the Development of Cambodia (CDC) has given the green light to five new investment projects with a total investment capital of $65.6 million. According to the council’s press releases issued recently, the new projects approved are expected to create nearly 5,000 jobs for ...

Phal Sophanith/AKP
https://www.khmertimeskh.com/50732891/nearly-70-million-investment-projects-licensed-to-create-5000-jobs/

SME chief complains of excessive red tape

The representative of the Cambodia Food Manufacture Association (CFMA) has requested a reduction in government red tape especially for the small and medium enterprises. ...

Sok Chan
https://www.khmertimeskh.com/50732781/sme-chief-complains-of-excessive-red-tape/

Sihanoukville records over $7 billion in construction

Cambodia’s coastal Preah Sihanouk province has attracted construction project investment valued at more than $7 billion over the last four years – most from Chinese nationals – the provincial administration said yesterday. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50732207/sihanoukville-records-over-7-billion-in-construction/

WB sees Cambodia’s GDP shrinking one percent ahead of six percent rebound in 2021

The World Bank had forecasted that Cambodia’s economy would shrink 1.0 percent this year before rebounding 6.0 percent next year which was released in Washington yesterday. ...

AKP
https://www.khmertimeskh.com/50732401/wb-sees-cambodias-gdp-shrinking-one-percent-ahead-of-six-percent-rebound-in-2021/

World Oceans Day prompts re-think a push towards a ‘Blue Economy’

The Asian Development Bank has renewed the push for Cambodia and the Asian region to refocus its efforts away from the current “Ocean Economy” and towards a new, more sustainable “Blue Economy”, as yesterday marked World Oceans Day. ...

Harrison White
https://www.khmertimeskh.com/50731634/world-oceans-day-prompts-re-think-a-push-towards-a-blue-economy/

‘Abnormally’ high price of pork

The Pig Support in Cambodia Association claims that the price of imported live pigs is abnormally high. The association says there are now six companies granted a business licence to import the animals from foreign countries. Most come from Thailand. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50731794/abnormally-high-price-of-pork/

NBC meet set to shape post-Covid economy

The National Bank of Cambodia (NBC) will host its seventh Annual Macroeconomic Conference under the theme “Discussion of Cambodia’s Economic Development Models” to gather input from academics, researchers, industry insiders and economists about how to structure the economy in a post-Covid-19 world. ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-meet-set-shape-post-covid-economy

PAS to pay $3M in dividends

State-owned port operator Sihanoukville Autonomous Port (PAS) has announced that it will disburse dividend payments totalling nearly $3 million to its shareholders on June 22. ...

May Kunmakara
https://www.phnompenhpost.com/business/pas-pay-3m-dividends

GMAC: EC didn’t reject EBA delay

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. ...

May Kunmakara
https://www.phnompenhpost.com/national/gmac-ec-didnt-reject-eba-delay

Cambodia to lose $3bn in revenue from tourism sector

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 ...

Khmer Times Staff
https://www.khmertimeskh.com/50730893/cambodia-to-lose-3b-in-revenue-from-tourism-sector/

China grants local mangoes into market

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. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50730611/china-grants-local-mangoes-into-market/

Call for more power investments to meet province’s demand

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. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50730649/call-for-more-power-investments-to-meet-provinces-demand/

Cambodia seeks to export more rice to China

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 Times Staff
https://www.khmertimeskh.com/50730663/cambodia-seeks-to-export-more-rice-to-china/

Partnership to drive food-processing

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. ...

Sok Chan
https://www.khmertimeskh.com/50730161/partnership-to-drive-food-processing/

20,000 tonnes of yellow bananas exported in first five months

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 ...

Khmer Times Staff
https://www.khmertimeskh.com/50730189/20000-tonnes-of-yellow-bananas-exported-in-first-five-months/

Masterplan Lays out Future Developments of Airport in Sihanoukville

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. ...

Sok Chan
https://www.khmertimeskh.com/50729739/masterplan-lays-out-future-developments-of-airport-in-sihanoukville/

PM Hun Sen: $1, $2 and $5 banknotes are still legal tender

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. ...

Sok Chan
https://www.khmertimeskh.com/50728542/pm-hun-sen-1-2-and-5-banknotes-are-still-legal-tender/

Local property market best described as ‘flat’

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 ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50728836/local-property-market-best-described-as-flat/

Cambodia’s rice exports up by 42 percent in first five months

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 ...

Khmer Times Staff
https://www.khmertimeskh.com/50728658/cambodias-rice-exports-up-by-42-percent-in-first-five-months/

Local vendors shun small US currency

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”. ...

Harrison White
https://www.khmertimeskh.com/50728832/local-vendors-shun-small-us-currency/

CSX index up 7.25 per cent, $1.25 million in shares traded

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 ...

May Kunmakara
https://www.phnompenhpost.com/business/csx-index-725-cent-125-million-shares-traded

Three investment projects worth $246 million approved, to create 1,500 jobs

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. ...

Khmer Times Staff
https://www.khmertimeskh.com/50727869/three-investment-projects-worth-246-million-approved-to-create-1500-jobs/

Cambodia risks being left behind while other Asean members announce reopening of economy

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. ...

Khmer Times Staff
https://www.khmertimeskh.com/50728252/cambodia-risks-being-left-behind-while-other-asean-members-announce-reopening-of-economy/

New MoU will make loans easier to decide and repay

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. ...

Sok Chan
https://www.khmertimeskh.com/50727796/new-mou-will-make-loans-easier-to-decide-and-repay/

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