Economy and commerce
Italy to set up chamber of commerce
Italy will set up a chamber of commerce in Cambodia this year with the aim of promoting and strengthening trade and investment opportunities in the kingdom. ...
Sok Chan
http://www.khmertimeskh.com/news/34290/italy-to-set-up-chamber-of-commerce/
Solid year to carry forward: NBC
The National Bank of Cambodia (NBC) released its review of 2016 and outlook for 2017 this week, highlighting the continued large growth of the banking sector while warning that the Kingdom was still vulnerable to external economic factors. ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/solid-year-carry-forward-nbc
Economy resilient to global headwinds: World Bank
Despite global uncertainty related to political shifts in the West and a continued Chinese economic slowdown, Cambodia showed strong growth prospects for the next several years, according to the World Bank’s latest report. ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/economy-resilient-global-headwinds-world-bank
Vietnam urges curb on illegal goods
The Vietnamese government has urged local authorities to combat trade fraud, smuggling and counterfeit goods in provinces bordering Cambodia to boost trade with its neighbor. ...
May Kunmakara
http://www.khmertimeskh.com/news/34240/vietnam-urges-curb-on-illegal-goods/
Tariff cuts slash $150M from revenue
Trade liberalisation under the ASEAN Free Trade Agreement (AFTA) cost Cambodia $150 million in lost tariff revenue last year, with the losses projected to climb further in the coming years as the Kingdom phases out tariffs on goods originating within the 10-member economic bloc, a ...
Hor Kimsay
http://www.phnompenhpost.com/business/tariff-cuts-slash-150m-revenue
Ministry scraps rice inspection fee
The government has removed the fee for inspection services on milled rice slated for export, aiming to reduce the cost of Cambodia’s rice and increase its competitiveness in international markets. ...
Chea Vannak
http://www.khmertimeskh.com/news/34115/ministry-scraps-rice-inspection-fee/
26 millers pass China test
Two rice millers, which had passed initial inspections, were deemed ineligible to export rice to China after failing quality and food hygiene tests applied by Chinese experts. ...
Chea Vannak
http://www.khmertimeskh.com/news/34060/26-millers-pass-china-test/
Slowing rice export growth ‘worrisome’
An Agriculture Ministry official said on Sunday that slowing growth in Cambodian milled rice exports—increasing just 0.7 percent last year—was the result of outdated policies and was a concerning trend. ...
Chhorn Phearun
https://www.cambodiadaily.com/business/slowing-rice-export-growthworrisome-123114/
Decline in transfers linked to rice prices
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. ...
Hor Kimsay
http://www.phnompenhpost.com/business/decline-transfers-linked-rice-prices
Cambodia’s rice exports fall sharply
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 ...
Chea Vannak
http://www.khmertimeskh.com/news/33963/cambodia---s-rice-exports-fall-sharply/
Postal service to launch e-commerce
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 ...
May Kunmakara
http://www.khmertimeskh.com/news/33904/postal-service-to-launch-e-commerce/
Singapore could face legal action over sand importation
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. ...
Ben Paviour
https://www.cambodiadaily.com/news/singapore-could-face-legal-action-over-sand-importation-122978/
Export licenses for Vietnam
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 ...
Sum Manet
http://www.khmertimeskh.com/news/33863/export-licenses-for-vietnam/
Fresh sand controversy
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. ...
Alex Willemyns and Mech Dara
http://www.phnompenhpost.com/national/fresh-sand-controversy
8 billion riel released
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). ...
Sok Chan
http://www.khmertimeskh.com/news/33442/8-billion-riel-released/
Accounting platform seeks funds
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, ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/accounting-platform-seeks-funds
Rice export firms get go ahead
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 ...
Sok Chan
http://www.khmertimeskh.com/news/33377/rice-export-firms-get-go-ahead/
Government urged to hasten amendment of investment laws
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. ...
Kali Kotoski
http://www.phnompenhpost.com/business/government-urged-hasten-amendment-investment-laws
Chinese firm snaps up $49.2M in local assets
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. ...
Post Staff
http://www.phnompenhpost.com/business/chinese-firm-snaps-492m-local-assets
Cooperation agreement with China
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 ...
May Kunmakara
http://www.khmertimeskh.com/news/33162/cooperation-agreement-with-china/
Agreement to increase cross-border vehicle limit
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. ...
Hor Kimsay
http://www.phnompenhpost.com/business/agreement-increase-cross-border-vehicle-limit
WB: Cambodians still vulnerable
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, ...
Chea Vannak
http://www.khmertimeskh.com/news/33166/wb--cambodians-still-vulnerable/
Workers get salaries winged
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. ...
Sok Chan
http://www.khmertimeskh.com/news/33163/workers-get-salaries-winged/
Chamber of commerce expands
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 ...
Sok Chan
http://www.khmertimeskh.com/news/33044/chamber-of-commerce-expands/