Economy and commerce

More than 40 business delegates from the Singapore-China Chamber of Commerce and Industry yesterday met the secretary-general of the Council for the Development of Cambodia (CDC) to discuss potential investments and seek local business partners. ...

Exports to the United States rebounded in the first quarter of the year, an increase of almost two percent on the same period last year, despite fears over protectionist trade policies to be ushered in by US President Donald Trump. ...

Cambodia and Thailand are keen to be better connected by cross-border highways to boost bilateral economic growth, said an official in the Thai Embassy yesterday. ...

Investment in Cambodia’s booming construction industry increased by 43.3 percent over the first four months of the year compared to the same period last year, according to data released by the Land Management Ministry on Tuesday. ...

Cambodia could add an additional $320 million to the economy over the next 10 years while increasing tax revenue by $24 million if it dropped its tariffs on information and communication technology (ICT), according to new research published yesterday. ...

Two listed state-owned enterprises – Phnom Penh Water Supply Authority (PPWSA) and Phnom Penh Autonomous Port (PPAP) showed better results in the first quarter of the year due to a rise in revenue.   ...

Wing and the online platform company BookMeBus have teamed up to offer bus tickets to the provinces and to Thailand, Laos and Vietnam. The service was officially launched on Friday with the first services available in Wing agencies in Phnom Penh.   ...

The majority of small and medium enterprises are still unaware of how to comply with new tax regulations that came into force at the end of last year, according to an Economy Ministry official. Srun Angkaren, a deputy director in the general department of taxation, said ...

The slowdown of regional and global economies, especially in China, US dollar appreciation, unfavourable weather and global stock market speculation have plunged rubber prices, the Association for Rubber Development in Cambodia said.   ...

Mohaleap Lotto, a subsidiary of Cambodia’s Royal Group, officially entered the Kingdom’s lottery gaming market this month, hoping to disrupt a business sector currently dominated by black market outlets, a company executive said yesterday. ...

it has been more than six months since Vietnam agreed to waive duties on 3,000 tonnes of Cambodian dried tobacco exports per year, yet local smallholder tobacco farmers claim the agreement has done little to improve their incomes, with some accusing large tobacco companies of ...

After several years of rapid growth, the expansion of credit provided by the Kingdom’s myriad microfinance institutions (MFIs) stalled abruptly last year, raising concerns poorer Cambodians could be pushed toward loan sharks to obtain credit or cover their debts, the World Bank said in its ...

Subscription for the initial public offering of Sihanoukville Autonomous Port (SAP) opened yesterday, with its underwriter predicting a strong investor response following an oversubscribed bookbuilding exercise late last month. ...

The Kingdom’s leading palm oil producer has projected revenues of $20 million this year as it targets another record-setting year for crude palm oil exports. ...

Cambodia is to open commercial centres in China to help Chinese investors understand the potential of Cambodia. The centres will soon be established in some provinces, Prime Minister Hun Sen said on his Facebook page during his trip to the Commercial and Tourism Cooperation Forum in ...

Earlier this month, Makro, a well-known wholesale supermart based in Bangkok, Thailand, began putting up signs on the zinc walls surrounding its sales office in Phnom Penh’s Sen Sok district, advertising its imminent opening at the end of the year. ...

The capital’s state-owned water utilities firm Phnom Penh Water Supply Authority (PPWSA) reported strong earnings in the first quarter of 2017, according to a filing to the Cambodian stock exchange (CSX) yesterday. ...

Total foreign direct investment receipts have remained consistent over the past five years, according to a new government report that incorporates central bank data. ...

The head of Transparency International Cambodia used the release of a World Bank economic report yesterday to press the lender’s economists on rural indebtedness and their claim that the country’s strong GDP growth was helping the country’s poor. ...

The multi-trillion-dollar scheme proposed by Chinese premier Xi Jinping in 2013 aims to promote economic integration across Eurasia by investing in a “Silk Road Economic Belt” and “Maritime Silk Road”, comprising transnational economic corridors and new trade arrangements. ...

The U.K. NGO that last week exposed a major new timber trafficking operation between Cambodia and Vietnam has released more evidence in hopes of supporting Phnom Penh’s investigation into its claims, including invoices from Cambodia-based companies breaking the country’s timber export ban. ...

The government is predicting Cambodia’s gross domestic product will grow at seven percent this year and next. ...

Cambodia hopes to leverage its membership in the Sustainable Development Investment Partnership (SDIP) to access much-needed funding for large-scale infrastructure development, state officials have said. ...

Cambodia could see massive investments as a result of China’s latest pledge to funnel an enormous sum into developing infrastructure as part of its New Silk Road initiative, an analyst said yesterday. ...