Economy and commerce

The Ministry of Commerce has tapped Wing (Cambodia) Ltd Specialised Bank to be the fourth financial institution designated to handle payments for companies incorporated using the ministry’s online registration system. ...

Cambodia is one of the potential choices for a blue chip Thailand-based company’s expansion into the Asean region, according to the Bangkok Post yesterday. ...

The ASEAN-Korea Centre has hosted a seminar to promote investment in Cambodia’s agricultural industry. Co-organized with the Council for the Development of Cambodia (CDC), the “Investment and Business Environment Seminar on Cambodia” was held at Hotel Shilla in Seoul on June 29. About 70 Koreans attended. ...

Golden Gate Ventures recently closed a new $60 million fund for Southeast Asia’s rapidly-growing startup ecosystem. ...

The Thai government has approved the Eastern Economic Corridor (EEC), linking the Dawei deep-sea port in Myanmar with Sihanoukville in Cambodia and Vung Tau port in Vietnam, according a report in the Bangkok Post. ...

Local investors have welcomed the presence of the Hong Kong Business Association in Cambodia (HKBAC), which officially opened its offices on Monday, as a way of attracting more investors from Hong Kong to Cambodia. ...

The General Department of Taxation (GDT) signed a memorandum of understanding with the Financial Intelligence Unit of the National Bank of Cambodia (FIUNBC) to exchange information on money laundering and the financing of terrorist activities. ...

The Ministry of Commerce received a visiting business delegation led by Bruno Luk, director of the Hong Kong Economic and Trade office in Singapore, Pao Hengdara, the ministry’s chief of cabinet, said yesterday.   ...

The government has come to the rescue of rice millers and exporters, currently in the throes of a serious financial crisis, with loans of between $20 and $30 million to the Cambodia Rice Federation (CRF). This is to help the sector purchase rice from farmers ...

The Cambodia Securities Exchange (CSX) ─ listed Phnom Penh Water Supply Authority (PPWSA) saw its profits plunge by more than 65 percent in the first quarter of this year with total revenue declining by more than 20 percent in the same period. ...

Cambodia’s economy will grow 7.1 per cent in 2016 while per capita income will reach $1,301 this year, Prime Minister Hun Sen said yesterday.   ...

Cambodia has been asked to accelerate the final negotiations for a bilateral investment treaty with the United States to pave the way for more American investment in the Kingdom. ...

Laos has asked Cambodia to increase trade and investment in its northern neighbor as bilateral trade between the two countries is small and has plenty of room to expand. ...

E-Money, which operates under Metfone, and Pay&Go SEA (Cambodia), entered into a partnership for money transfers, mobile phone top-ups and the payment of utility bills. ...

While Cambodia’s crowded banking sector has enjoyed strong growth, the majority of consumers surveyed have cited dissatisfaction with banking services as a main impediment for the sector’s confidence and future growth. ...

Cambodia’s leading commercial bank Acleda in partnership with MasterCard Asia and the Pacific, last week launched the Acleda MasterCard electronic plastic card to allow customers to make withdrawals through any ATM as well as make payments around the world where the MasterCard logo is displayed. ...

Cambodia’s cassava growers have been asked to target Thailand as an export market due to the high demand for the starch-tuber in the neighboring country to produce ethanol, animal feed and flour, while little is done at home to stabilize prices and provide assistance to ...

The first quarter earnings of the publicly listed Phnom Penh Autonomous Port (PPAP) were up by more than 10 percent in comparison to the same period last year thanks to the Kingdom’s steady economic growth and the company’s efforts in streamlining its expansion. ...

Cambodia and Thailand have agreed to upgrade four border checkpoints and open new checkpoints to boost bilateral trade and tourism along the border, with the aim of increasing trade volume between the two neighbors to $15 billion over the next five years. ...

Bilateral trade between Cambodia and Thailand fell by about 15 percent in the first four months of the year, compared to the same period last year, due to the Kingdom’s decreasing imports of oil, food and beverages from its neighbor. ...

A sound understanding of double taxation avoidance agreements (DTAs) between Cambodia and other countries is crucial to lower barriers to promote cross-border investments and boost trade and economic flows between the Kingdom and its partner countries, said the president of the Cambodia Chamber of Commerce ...

Despite used car sellers dominating the Kingdom’s automobile market, Tri Petch Isuzu Sales Co. Ltd, the sole distributor of Isuzu vehicles in the region, is confident in the sales of its new D-Max Blue Power high utility vehicles in Cambodia due to the country’s fast ...

The Kingdom’s petroleum and gas imports fell in the first quarter of this year due to waning consumer and business demands, according to the Ministry of Commerce. However, a large petroleum, lubricants and oil importer said the fall in gas imports was just relative and ...

The total value of exports from the Kingdom’s garment and footwear industry increased sharply this first quarter by 39.1 percent to some $2 billion compared to about $1.5 billion in the same period last year, according to figures released by the Ministry of Commerce. ...