Economy and commerce

International fund transfers to Cambodia through Acleda Bank, which claims to handle a quarter of all inbound fund transfers to the country, decreased slightly last year as a result of lower rice prices, a bank executive said yesterday. ...

Cambodia’s milled rice exports only grew by a dismal 0.7 percent last year compared with 2015 and this was the lowest since 2014, according to government figures released yesterday. “Last year Cambodia only exported 542,144 tons of milled rice and the lowest exports were in the ...

The state-owned Cambodia Post will launch an online shopping platform in March in a move to tap the current rise in e-commerce activity. Ork Bora, director-general of the Cambodia Post, told Khmer Times yesterday that after about a year of studying e-commerce, the state-owned enterprise decided ...

Environmental NGO Mother Nature has hired a Singaporean law firm to investigate alleged irregularities in the country’s importation of Cambodian sand, the organization’s founder said on Wednesday. ...

The Ministry of Commerce is calling for producers and exporters who have been dealing in dried tobacco leaves and milled rice to apply for licenses to export to Vietnam. Vietnam agreed to waive all duties on 300,000 tons of rice and 3,000 tons of dried tobacco ...

Cambodia exported more than 108,000 tonnes of sand to India in 36 separate shipments between 2013 and 2015, according to Indian customs data obtained yesterday, contradicting Cambodian customs data that show no sand being sent there at all. ...

The National Bank of Cambodia (NBC) on Tuesday released eight billion riel (about $2 million) at three percent interest to just one financial institution that joined the third bidding of the new Liquidity-Provided Collateralized Operation (LPCO). ...

The developer of Banhji, a locally developed accounting platform aimed at small- and medium-size enterprises (SMEs), is in talks with investors to secure funding as part of a plan to expand the application beyond Cambodia. Officially launched in October after a four-month beta testing period, ...

Eighteen local rice export companies are now eligible to carry out milled rice exports to China starting from next month, according to an announcement released on Monday by the Cambodia Rice Federation (CRF). The announcement added that the CRF and the Green Trade Company – under ...

The government should speed up amendments to its investment laws ahead of two major business conferences set for next year when visiting foreign investors will get first-hand knowledge of the economy, the head of a local business association said yesterday. ...

Shanghai-listed Guangzhou Yuetai Group will purchase $49.2 million in assets in Cambodia by buying a 45 percent stake in a local property development firm and a 19 percent stake in a Cambodian import-export company, the company said in a filing yesterday. ...

The Cambodia Chamber of Commerce (CCC) and China Foreign Trade Center on Tuesday signed a cooperation agreement with the aim of exchanging business and investment information between the two countries. CCC director-general Nguon Meng Tech told Khmer Times yesterday after the agreement signing that both sides ...

Cambodia and Thailand will sign a memorandum of understanding on Friday to increase the quota of buses and trucks permitted to cross the border between the two countries, a transport official said yesterday. ...

While the World Bank commended Cambodia for its strong economic growth and efforts to reduce poverty over the past two decades, it, however, cautioned yesterday that the agriculture and garment sectors posed challenges which could make that growth unsustainable. “An overview of the past two decades, ...

More than 900,000 garment and footwear workers can now get their salaries through Wing (Cambodia) Limited Specialized Bank after a memorandum of understanding (MoU) was signed yesterday between the Garment Manufacturers Association in Cambodia (GMAC) and the Kingdom’s leading mobile banking services provider. ...

A new sub-decree to allow the Cambodia Chamber of Commerce to represent the business sector overseas, will come into force next year after Prime Minister Hun Sen signs the draft into law soon, according to a Commerce Ministry official. Soeng Sophary, the ministry’s spokesperson, said the ...

MQ Technology Bhd, a Malaysian investment holding company, is looking to form a joint venture with a newly formed entity, Cambodian Resorts and Entertainment Co Ltd, to build a $30 million casino and theme park in Prey Veng province near the Vietnamese border, according to ...

Kolao Group, a South Korean-owned automaker and distributor, plans to build factories in a proposed industrial park in Cambodia to assemble its proprietary line of automobiles and motorcycles, a company executive said yesterday. ...

The capital’s listed water utility posted higher revenue against lower earnings during the third quarter of the year in a filing to the Cambodian stock exchange yesterday. Phnom Penh Water Supply Authority (PPWSA) saw its revenue rise by $1 million, or 8 percent, year-on-year to $13.9 ...

Prime Minister Hun Sen warned potential protesters during a speech in front of hundreds of garment workers yesterday, telling the crowd that while it was his duty to make sure investors came and stayed in the country, they had to stop protesting to keep the ...

Cambodian milled rice has passed quality and food hygiene tests for export to China. A delegation of Chinese experts inspected the quality and safety at 27 rice mills during a week-long visit, said Hean Vanhan, director-general of the agriculture department at the Agriculture Ministry. The result of ...

Minebea, the largest Japanese company in Cambodia, officially opened a third manufacturing plant in the Phnom Penh Special Economic Zone yesterday to coincide with the fifth anniversary of its presence in the country. Yoshihisa Kainuma, president and CEO of Mineba (Cambodia), told reporters at the ...

A leading Chinese manufacturer of power transmission and distribution equipment recently visited Cambodia to explore opportunities in the Kingdom’s rapidly growing energy sector, including a proposal for a factory to produce equipment for the electricity sector. ...

The National Bank of Cambodia (NBC) issued a prakas, or directive, last week instructing commercial banks and microfinance institutions to make out more riel loans to their customers, in a bid to promote the use of the national currency. The prakas, which took effect on Thursday, ...