Economy and commerce

Prime Minister Hun Sen said yesterday that China gave assurances that it will grant greater access for Cambodia’s agricultural products to enter its markets. “It is my mission to ensure that domestic goods, especially agricultural products, can be exported to China in greater quantities. I just ...

Prime Minister Hun Sen yesterday appealed for more Chinese investment in Cambodia and said he hoped the country of more than 1.3 billion would increase its imports of products from the Kingdom. ...

The Cambodia Chamber of Commerce (CCC) and the China Council for the Promotion of International Trade (CCPIT) on Friday signed a memorandum of understanding (MoU) to promote business interaction and enhance trade and investment between China and the Kingdom. ...

The Chinese government will import 200,000 tons of rice from Cambodia from next year – double the current amount – and will also help in the restoration of Preah Vihear temple, it was announced yesterday. ...

Eight months since announcing the biggest acquisition deal in the history of Cambodia’s financial sector, Thailand-based Bank of Ayudhya, also known as Krungsri Bank, has yet to receive approval for the landmark deal. In a statement released in January, Bank of Ayudhya announced its intention ...

China is the top-ranking foreign investor in the construction and property sectors in Cambodia, with South Korea and Japan coming second and third, according to a new government report.   ...

A group of private sector rubber producers have petitioned the government to drop export taxes on rubber products, arguing that by scrapping the tax the sector would attract foreign investment into processing factories. ក្រុមអ្នកផលិតកៅស៊ូចង់នាំឱ្យពន្ធនាំចេញត្រូវលុបចោលក្រុមអ្នកផលិតកៅស៊ូឯកជនមួយបានដាក់ញ្ញត្តិទៅរដ្ឋាភិបាលដើម្បីទម្លាក់ចោលពន្ធនាំចេញផលិតផលកៅស៊ូ ដែលលើកឡើងថា ការមិនយកពន្ធនាំចេញនៃវិស័យនេះអាចនឹងទាក់ទាញវិនិយោគិនបរទេសមកដំឡើងរោងចក្រកែច្នៃ។ ...

New details have emerged on Royal Group’s ambitions to expand its energy portfolio after a government official clarified that Cambodia’s biggest conglomerate is seeking to develop its own coal-fired power plant, rather than finance an existing one. ...

More than a year into a government-backed campaign to clamp down on unlicensed lenders, nearly 130 small lenders operating under the radar have come into the fold, officials said yesterday. ...

The Cambodia Rice Federation (CRF) hopes to export around 200,000 tons of milled rice a year to Indonesia, which is one of the biggest rice markets in Asean. This comes after the CRF announced late last month that it will not join the bid to ...

State-run energy utility Electricité du Cambodge (EdC) has asked banks and microfinance institutions (MFIs) to stop using third-party services to collect payment of customer electricity fees, local media reported yesterday. ...

Cambodia’s beleaguered rice millers can now breathe a sigh of relief after a tumultuous three months in what seemed to be government ineptitude in disbursing an emergency loan of $30 million to prevent them from becoming insolvent. In June, the Cambodia Rice Federation (CRF) announced that ...

Bank of China, one of the five biggest state-owned commercial banks in China, will expand its operations in Cambodia by opening new branches in Siem Reap and Sihanoukville, a local bank executive said yesterday. ...

Cambodia and China last week signed an agreement to exchange financial intelligence to combat money laundering and terrorism financing, though experts said the Kingdom should still be doing more to tackle an issue that has long persisted in the country, in part, due to local ...

Cambodia is looking to secure its first commercial contract for the export of swiftlet nests to China, but must first demonstrate compliance with the Asian giant’s hygiene protocols, a government official has said. Hean Vanhan, undersecretary of state at the Ministry of Agriculture, said swiftlet nests, ...

Canada is keen to sign an investment protection agreement with Cambodia to boost trade between both countries following the visit of Canadian Foreign Minister Stephane Dion to the Kingdom last Friday. ...

Almost two weeks after the Cambodia Securities Exchange (CSX) announced that it was accepting applications for the newly approved liquidity providers (LPs) option, it admitted yesterday that no one had yet applied, as insiders said they were still unsure of the program. ...

A month after Thailand blocked agricultural products from Cambodia over improperly stamped and signed certification documents, the Thai ambassador on Friday pledged to seek a solution for Cambodia’s maize exports. Commerce Minister Pan Sorasak said on Saturday that Cambodian authorities are doing their utmost to solve ...

The Federation of Associations of Small and Medium Enterprises of Cambodia (FASMAC) has sought support from the anti-corruption organization Transparency International, to prepare it to be a graft-free business entity and help its members to be listed on the Cambodia Stock Exchange (CSX). ...

Jimei International Entertainment Group, a Hong Kong-listed casino junket investor that promotes at least seven gaming tables in NagaWorld casino in Phnom Penh, reported a steep decline in profit during the first half of 2016 despite increased turnover. ...

New data released by Cambodia’s independent credit reporting agency indicate a significant slowdown in the rate of lending during the second quarter of the year, a sign that banking industry experts claim is due to a tightening of lending criteria and less demand from the ...

National Bank of Canada attributed its 5.5 per cent jump in fiscal third-quarter profit to its acquisition of Cambodia’s Advanced Bank of Asia Ltd. (ABA Bank) earlier this year. ...

The Ministry of Mines and Energy is set to issue the country’s first commercial underground mining license to Indian company Mesco Gold in two weeks, despite opposition by residents of two villages concerned about compensation and environmental damage. The company plans to break ground on its ...

Cambodia should seek to enlarge its market share of the Thai consumer market by focusing on the export of unique items, a visiting Thai trade promoter said during a workshop in Phnom Penh yesterday. ...