Economy and commerce

With leaders from the Greater Mekong Sub-region gathering next week in Phnom Penh for a new summit on Lancang-Mekong Cooperation, leading political thinkers and researchers say the LMC mechanism plays a crucial role in enhancing economic cooperation in the region and complements the work being ...

Cambodia’s exports to China, the second largest economy in the world, rose sharply during the first 11 months of 2017, by as much as 18 percent compared with the same period in 2016, according to the latest data from the Ministry of Commerce. ...

In 2017 the local financial sector continued the strong growth that has characterised the industry in recent times, with commercial banks and microfinance institutions (MFIs) seeing a robust expansion in loans and deposits throughout the year, according to the National Bank of Cambodia’s (NBC) annual ...

A delegation of some of China’s biggest companies in the food-processing industry is scouring the local market for investment opportunities in the agriculture sector. Headed by He Jianxiang, the deputy director-general of the Bureau of Product Processing at China’s Ministry of Agriculture, the delegation met ...

Cambodia’s central bank yesterday announced a decision to revoke the operating licences of 11 rural credit operators for failing the abide by regulations. ...

Agriculture Minister Veng Sokhon said he would ask Prime Minister Hun Sen to take action to help farmers compete against neighbouring countries, including further measures to address high electricity costs, as the sector mapped out its challenges for the year at a ministry-led forum in ...

Preah Sihanouk provincial authorities will ask the government to deal with 10 sellers who refuse to relocate from Koh Puos – or Hawaii beach – and Lomher Kay beach.​ Vendors’ representatives have asked for compensation from provincial authorities to relocate to a new area. ...

Cambodian rice exports in 2017 increased 17 percent by volume compared to the year before, with exporters pushing to fill orders under China’s expanded import quota while shipments to European markets remained steady, according to Agriculture Ministry figures. ...

The co-working and co-living space Outpost Cambodia announced details of a startup competition today that will offer a winning company free 24/7 access to a desk for up to six people for six months in its workspace on Phnom Penh’s Chroy Changvar peninsula, four specialised consultations with ...

The Commerce Ministry yesterday announced a 19 percent surge in exports for the year and a quadrupling of revenue collected from import licence fees, but would not provide analogous figures for total imports or explain what could be driving the increases. According to the ministry’s annual ...

The Securities and Exchange Commission of Cambodia (SECC) has decided to slash transaction fees on derivative trading, a move the SECC claims will help spur future trades. ...

Cambodia’s fledgling stock exchange could receive a much-needed boost after Malaysian-owned power infrastructure provider Pestech Cambodia officially submitted its application for an initial public offering on the CSX, industry insiders said yesterday. ...

The promises of Chinese agro-industrial investment have been recurrent: Hyped up by local officials and media outlets, with photographs of handshakes and earnest negotiation posted across social media, major deals are announced between government ministries and visiting delegations. ...

CSX-listed Phnom Penh SEZ Plc has announced it will issue 14 million new shares after securing shareholder approval on Friday during a general meeting. ...

The European Commission has announced it is investigating the potential laundering of Chinese shipments of citric acid through Cambodia, allowing Chinese manufacturers to flout export restrictions. The European Commission (EC) imposed duties on Chinese citric acid in early 2015 after determining that the chemical was being ...

Cofco, China’s largest food processor, manufacturer and trader, will set up a working group in the kingdom to explore the possibilities available in the local agricultural market, including expanding the number of products it imports from Cambodia and investing in local infrastructure. ...

The Agriculture Ministry is set to sign a mango export investment deal with a Chinese firm worth up to $50 million, the second such deal in the country, Agriculture Minister Veng Sokhon said yesterday. ...

An ambitous 10-year plan to boost the country’s industrial development is “90 percent” on track and has earned the approval of Prime Minister Hun Sen, government representatives said yesterday.​ ...

Cambodia has just launched a new registry for companies that wish to import biological control agents (BCA), effectively allowing the importation of these organisms which are widely used in other countries for pest control.​ ...

Prime Minister Hun Sen yesterday pledged to start a new bank with an initial capital of $100 million to provide financing for small and medium enterprises (SMEs), with industry players saying its success hinged on whether concessional or low interest rates could be provided to ...

Cambodian businesses need to adapt and digitise their financial operations if they want to remain competitive regionally and around the world, industry insiders said yesterday. ...

Transparency International Cambodia yesterday released its first Business Integrity Country Agenda assessment report, aimed at reducing corruption and improving the overall business environment in the country. ...

With Prime Minister Hun Sen publicly daring Western countries to impose sanctions in response to the recent dissolution of the country’s main opposition, the minister of commerce has quietly expressed concern at the staggering customs bill Cambodia would incur should the EU suspend its preferential ...

A European Parliament resolution last week calling for the possible suspension of Cambodia’s preferential trade status prompted a strong reaction from Prime Minister Hun Sen, who yesterday sternly dared the bloc to “cut it!” Speaking to garment factory workers on Koh Pich yesterday, the premier said Cambodia would ...