Economy and commerce

Giving a speech to high-ranking officials on Wednesday, Borith spoke of the rising tensions between Washington and Phnom Penh following the arrest of opposition leader Kem Sokha and the closure of U.S.-linked media outlets and a democracy promotion NGO. ...

Cambodia and Bangladesh have finalised terms on a massive rice deal that could see up to 1 million tonnes of rice purchased from the Kingdom over the next five years, with the first shipment due to begin by November, a source close to the deal ...

The National Bank of Cambodia (NBC) and the People’s Bank of China in the autonomous Guangxi region of southern China have launched an official yuan-riel exchange rate that allows businesses and individuals to conduct trade settlement activities without using the US dollar as an intermediary ...

n a speech to 65 senior government officials yesterday, Cambodia’s acting foreign affairs minister said this month had been “the worst” so far in the history of Cambodia-US relations. “Our relationship seems to be difficult,” said Ouch Borith, who is second-in-command at the Foreign Affairs Ministry. ...

The Asian Development Bank (ADB) maintained its economic growth forecast for Cambodia at 7.1 percent for 2017 and 2018 buoyed by the strong performance of developing economies across Asia and the ongoing recovery of large industrial countries, according to a release yesterday. ...

Business confidence among EuroCham Cambodia’s predominantly European member companies fell this year as a result of a lack of positive reforms and uncertainty surrounding upcoming elections, according to a survey released yesterday. ...

The Securities and Exchange Commission of Cambodia (SECC) has issued new regulations and procedures for solving disputes involving parties operating in the securities sector. ...

Cambodia and Bangladesh are seeking to strengthen cooperation on trade and enhance and expand trade and business partnerships via a deal which will be signed in October. ...

Cambodia as a member of the six-nation Greater Mekong Sub-region (GMS) endorsed a five-year action plan framework that includes $64 billion in projects to help the sub-region achieve inclusive growth and sustainable development. ...

The state-run Rural Development Bank (RDB) received a total of 10 proposals from Cambodian agricultural firms expressing interest in developing rice storage and drying facilities across three provinces using government-backed low-interest loans, a bank official said yesterday. ...

Cambodia’s economy relies heavily on textile manufacturing, tourism, real estate and construction, which are all easily impacted by political upheaval, analysts said. ...

The Council for the Development of Cambodia (CDC) heaped praise upon China yesterday for its continual support of the Kingdom, claiming that without its investment the local economy would never have managed to take off. ...

Despite a diplomatic row with the United States, the trade relationship between Cambodia and the US remains normal, said the Ministry of Commerce’s spokesperson yesterday. ...

The Ministry of Commerce has committed to joining up with the Thai Embassy in Cambodia to build a favourable business and investment climate between the Asean neighbours. ...

Cambodia intends to submit a petition to the United States government to extend the duty-free privileges of its Generalised System of Preferences (GSP) scheme to include footwear, giving local manufacturers a competitive advantage in the world’s biggest consumer market. But hopes are dimming as the ...

More than $30 million in Cambodian sand exports registered by Taiwan appear to be missing from Cambodia’s customs records, according to data from both governments, marking yet another large-scale discrepancy in the Kingdom’s figures on the trade. ...

More than 96 percent of tariffs in Asean have been eliminated, but certain parts of the 10-nation economic bloc including Cambodia lag behind others in full implementation of the Asean Trade in Goods Agreement (Atiga), the Ministry of Commerce said in a Facebook post yesterday. ...

Private investigators have long operated in Phnom Penh’s seamy shadows, hired to follow and document the liaisons of philandering tycoons, help foreign authorities locate fugitives or track down missing persons. ...

Global Purify Power (GPP), a joint venture behind $400 million worth of solar powered projects, started groundbreaking work on Friday with more than $10 million worth of investment in Kampong Speu province. ...

Cambodia inked a memorandum of understanding with China yesterday that aims at providing better facilities for trademark and brand registration in both countries. ...

While tariffs across the Asia-Pacific region have dropped over the last 20 years as a result of bilateral and multilateral trade agreements, nontariff barriers such as red tape and quotas continue to hinder the economic growth of Cambodia and other countries in the region, the ...

Cambodia is keen to grow Japonica rice and the Ministry of Agriculture is currently conducting field trials to explore the possibility. “We are currently studying how Japonica rice can be grown in the country and it will take three to four years to know the full ...

The deteriorating political climate in Cambodia and ramped up government rhetoric against the United States could end up jeopardising the Kingdom’s economic relations with the US, its largest single trading partner, analysts have warned. ...

China wants to import 300,000 tonnes of rubber from Cambodia by early next year, as the Cambodian government boosts its capacity for direct rubber exports to China. ...