Economy and commerce

US-based convenience mart Circle K officially launched in Cambodia yesterday, with three outlets already operating in Phnom Penh and plans to open 40 more by the end of the year. ...

Aiming to inject momentum into their nascent debt markets, the Asian Development Bank (ADB) released yesterday bond market guides for Cambodia and Myanmar. ...

Prime Minister Hun Sen said yesterday that a 600-metre building would be constructed in Cambodia, though he did not mention specifics and similar projects proposed in the past have stalled before construction. ...

The draft of the new Law on the Chamber of Commerce is again being reviewed by the Cambodia Chamber of Commerce (CCC). Once the proposed changes to the draft are completed, the law will be sent to the Council of Ministers for further discussion and approval, ...

US-based solar energy developer Omni Navitas announced a plan to set up a $500 million, 150-megawatt solar energy farm in Cambodia, which CEO Jim McAuliffe said would make it the largest solar farm in Southeast Asia by capacity. ...

An interministerial task force has been established to ease simmering tensions between Cambodian and Chinese business owners in the coastal resort town of Sihanoukville, the latest sign that a huge influx of Chinese investment is causing problems on Cambodia’s coast. ...

During his state visit to India, Prime Minister Hun Sen urged companies from the subcontinent to consider Cambodia as their next investment destination. Both governments have recently stressed the need to enhance air connectivity between both nations to boost the movement of tourists and businesspeople.​ ...

China’s growing presence and investment in a fast-developing Cambodian port and province have pushed up the crime rate and brought instability, its governor said in a letter to the government. ...

Cambodia attracted the fixed asset investment of 333.4 million U.S. dollars from its ASEAN member states in 2017, according to a government’s report on Friday.   ...

A Japanese consular office yesterday opened in Siem Reap town in a ceremony attended by Japanese and Cambodian dignitaries. Attending the events were Sieng Nam, CPP lawmaker for Siem Reap province, Chhay Sinarith, deputy National Police commissioner, and Nakane Kazuyuki, the Japanese Minister of Foreign Affairs. ...

Construction began yesterday on a $10 million factory in Kampong Speu province to process fresh fruit for international export, a first for Cambodia, though Agriculture Ministry officials could not confirm it would meet international standards yesterday. ...

The seaside city of Sihanoukville, the home to Cambodia’s only deep-sea port, has seen massive investment from China in the past few years, and while some local people have welcomed the inflow of money, others feel they’re missing out. The signs of Chinese investment are everywhere ...

Indian government data show that annual trade between the Cambodia and India has lagged of late, decreasing by nearly 30 percent to $141 million during the last Indian fiscal year, which ran from April 2016 to May 2017. That’s the lowest level since the 2012-2013 ...

New proposed rules from the European Union restricting the import of palm oil would likely affect Cambodia’s nascent palm oil sector, but the country’s main exporter is hoping that demand from India and China will cushion the blow. ...

The Labour Minister said he expects buyers from America to increase their orders both in the textile and footwear industry after a Memorandum of Understanding (MoU) was signed on Monday between the Ministry of Labour and the American Center for International Labor Solidarity.   ...

The Labour Ministry is expecting American buyers to increase their orders after a memorandum of understanding between the ministry and the American Centre for International Labour Solidarity on “Cooperation in the Field of Labour” was signed. ...

Cambodia’s mango shipments have been routinely blocked before making it to the international market, with the Ministry of Agriculture claiming the mangoes are not of a high enough quality to meet the sanitary and phytosanitary (SPS) requirements necessary to ship outside of the Kingdom. ...

A new market will open on the Cambodia-Vietnam border over the next year, according to commerce ministry officials. The general goods market, launched during a groundbreaking ceremony on Tuesday in Tbong Khmum province, is being built following the conclusion of demarcation of the border in Memot ...

The total amount of rubber exported by Cambodia surged 30 percent last year, but widespread rubber smuggling on the Vietnamese border crippled potential profits from the booming industry. ...

The value of construction projects in Cambodia rose more than 22 percent to $6.4 billion in 2017 from the previous year, according to official figures released on Tuesday that showed the impact of a boom driven by Chinese investors. The high level of Chinese investment is ...

The Securities and Exchange Commission of Cambodia (SECC) yesterday warned the public against investing in cryptocurrencies such as Bitcoin, arguing that there is no regulation in place to manage the use of digital coins. ...

Cambodia’s economic rise starkly contrasts the political chaos that reached a climax in November 2017 with the dissolution of the Cambodia National Rescue Party — the country’s only major opposition party — and the detention of its leader, Kem Sokha. Prime Minister Hun Sen has ...

Following robust growth in cargo shipments, total revenue for state-owned Phnom Penh Autonomous Port (PPAP), the second largest harbor in Cambodia, increased by 14 percent in 2017, according to the Ministry of Public Works and Transport. ...

The government plans to reduce its foreign debt and raise capital through the issuance of bonds, a representative of the Ministry of Economy and Finance has unveiled. “Increasing local borrowing instead of foreign borrowing will improve the country’s trade balance and current account,” said Vong Seyvisoth, ...