Economy and commerce

The economy will grow at a rate of 6.9 percent in 2018, according to the latest report from the World Bank. Other international financial institutions have issued similar forecasts this month, with the Asian Development Bank (ADB) and the International Monetary Fund (IMF) putting national ...

Cambodia’s economic outlook remains positive and the economy is forecast to grow at a robust 7 percent this year and next year, according to a report released by the Asian Development Bank (ADB) on Wednesday. Growth in exports, strong foreign direct investment, growing tourist arrivals ...

Japanese firm Sumitronics signed a lease to become the first tenant at the Poipet Special Economic Zone, which was established as a subsidiary of the publicly listed Phnom Penh Special Economic Zone (PPSEZ) in 2014. The electronics firm leased a 1-hectare plot of land in ...

Prime Minister Hun Sen warned on Tuesday that a developing trade war between the US and China could affect Cambodia, and said the Kingdom must act to mitigate any potential fallout. In March, US President Donald Trump’s administration slapped tariffs on global imports of steel ...

The Council for the Development of Cambodia (CDC) has preliminarily issued final registration certificates for 35 projects with a combined investment capital of $444 million from January to the end of last month. Once operational, the projects are expected to provide more than 30,335 jobs. ...

The National Bank of Cambodia issued a letter on Wednesday clarifying that only seven microfinance institutions (MFIs) are licensed to accept deposits from the public. The notification came after the central bank noticed several “rural credit operators” – institutions smaller than a typical MFI that ...

The European Commission has found sufficient evidence to launch an investigation into whether Cambodian rice exported to the EU puts an unfair burden on European rice farmers, potentially imperiling the Kingdom’s tariff-free exports to the bloc. ...

The UN Food and Agriculture Organisation (FAO) is forecasting that 44 percent of Cambodia’s total rice exports will be smuggled out of the country through informal channels this year, a persistent problem that weighs down profits and threatens to cripple the industry. ...

Cambodia should continue to see steady economic growth at about 7 percent this year despite potential investor caution that could arise ahead of July’s national election, officials from the Ministry of Economy and Finance (MEF) said on Wednesday. ...

Germany’s international development agency (GIZ) held a workshop on Tuesday that promoted Cambodian agricultural exports to China, focusing on the necessary export guidelines and the sanitation standards that are often lacking in the Kingdom’s agricultural value chains. ...

A series of quarterly reports from the National Bank of Cambodia raises questions about the government’s ban on timber exports, as they show that last year, more than $5 million in sawn timber was exported from the Kingdom. The latest report, released earlier this month ...

Commercial banks and microfinance institutions have acquired more than 209 billion riel in riel liquidity, worth $52.4 million, from the National Bank of Cambodia (NBC) since the central bank began its liquidity-providing collateralised operation (LPCO) in October 2016. ...

The Commerce Ministry officially launched a program yesterday giving the authority to issue certificate of origin licences to four provinces along the Thai border, potentially expediting the export process for agricultural businesses in the region. ...

A group representing some of the largest apparel brands in the US and Europe – including Gap, H&M and ASOS – expressed “growing concern” on Tuesday over several controversial labour laws and ongoing court cases against unionists described as restrictive and unjust. ...

According to the latest forecast from the International Monetary Fund (IMF), Cambodia economy will grow by 7 percent this year on the back of higher public spending and steady growth in construction and tourism. The IMF’s forecast is slightly higher than the figure released by the ...

Local rice miller and exporter Amru Rice has started reaping the benefits of its partnership with the International Financial Corporation (IFC), beginning to collect rice from farmers working under contract farming schemes in Kampong Cham province. ...

Hong Kong’s top economic official will lead a 48-person delegation to Cambodia on Monday and Tuesday to explore business opportunities related to China’s Belt and Road Initiative, according to a release from the official’s office. ...

Farmers of Kampot pepper have had a rough planting season due to climate change, but the decrease in production is unlikely to seriously affect the market, according to the head of the Kampot Pepper Promotion Association (KPPA). ...

Cambodia’s salt producers are suffering from a catastrophic harvest season that is likely to deplete their reserves and threaten the industry’s future prospects, according to leaders of the country’s largest salt federation. ...

The validation agreement between China’s State Intellectual Property Office (Sipo) and Cambodia will enter into force by the end of this month, helping protect Chinese invention patents in the kingdom. ...

Local group OTK Royal One signed a partnership agreement this week with Chinese firm Huasi Group to build a 62-storey commercial building in Phnom Penh. ...

Local real-estate firm Grand Lion Group reached a deal with US-based Marriott group to manage and operate a new five-star hotel in the coastal city of Sihanoukville. ...

The Institute of Standards of Cambodia developed 63 new standards last year, bringing the total number of certifications available from the government to 868, though one industry representative said the system still needed improvement in order to facilitate exports. ...

The Cambodia Securities Exchange (CSX) signed a partnership agreement with a business development company on Monday in an attempt to increase awareness about the country’s stock market among entrepreneurs. ...