Economy and commerce

Bangladesh is rushing to push forward a draft proposal to form a joint trade commission with Cambodia that is expected to be signed this year, an official from Cambodia’s Commerce Ministry said yesterday. Trade between the two developing nations has been minimal, amounting to just ...

Cambodia’s total exports to the United States declined last year compared with 2015, due to uncertainties in the US presidential race and rising exports from Vietnam and new market player Myanmar. ...

The lacklustre performance of Cambodia’s stock exchange, which has attracted only four companies since it launched in 2011 and whose stocks see days without a single trade, is expected to turn a corner soon, capital markets experts said during a panel discussion yesterday. ...

Kasikornbank (KBank), one of the largest banks in Thailand, officially unveiled its first branch in Phnom Penh with the aim of offering financial services to local businesses as well as corporate and retail customers. ...

The price per kilogram of cassava exports from Cambodia has fallen this year due to plunging market prices and a lack of processing centers in the country. The price of dried cassava in northeastern Rattanakiri province is down to 410 riel (about $0.10) per kilogram and ...

The Cambodian government is finalising legislation that would regulate the establishment of a corporate bond market, and plans to find a suitable private sector company to pilot the first issuance, officials said yesterday. ...

The Ministry of Agriculture is calling on rice millers to apply for a second round of quality checks for exports to China after only 28 local rice mills, out of 60 which applied for inspection in the first round, passed last year. ...

Cambodia’s insurance industry saw record growth in 2016 and was valued at $113 million, according to a report from the Insurance Association of Cambodia (IAC). ...

The central bank’s efforts to foster development of an interbank lending market appears to be taking off as the demand for negotiable certificates of deposits (NCDs) increased sharply last year, with the financial tool seeing wider usage among the Kingdom’s financial institutions. ...

Cambodia is set to host a meeting in Siem Reap to help coordinate the trade interests of 48 least-developed countries (LDCs), said the Minister of Commerce Pan Sorasak on Thursday.“The members of the World Trade Organization (WTO) were confident in us and chose Cambodia, at ...

Advanced Bank of Asia Limited (ABA Bank of Cambodia) officially unveiled a new logo yesterday, as it builds on its majority ownership by the National Bank of Canada.The National Bank of Canada integrated the ABA Bank as part of its group after becoming the major ...

Cambodia is set to become the first country in Southeast Asia to recognise and protect European patents after the Minister of Industry and Handicrafts signed an agreement with the European Patent Office (EPO) yesterday. ...

Sand exports will remain suspended amid questions about a 56 million-ton discrepancy in deliveries to Singapore. Dith Tina, a secretary of state and spokesman for the Ministry of Mines and Energy, said yesterday that no date had been set for the exports to resume. ...

Speakers at a government forum held yesterday on macroeconomic management and the 2017 budget law said Cambodia’s strong economic growth has been largely unscathed by China’s slowdown, though clouds were forming on the horizon. ...

The controversial exporting of Cambodian sand to Singapore has finally—if temporarily—been stopped, according to officials from the two countries, amid long-running criticism over discrepancies in shipment records and environmental damage. ...

Cambodia is looking to implement cross-border paperless trade once the country’s e-commerce law is fully adopted and implemented, the Commerce Ministry said. ...

Six months since the central bank launched its FAST payment system, a new scheme to provide instant riel-denominated fund transfers between financial institutions and their clients, the bank recorded a total fund transfer of 10 billion riel ($2.5 million) as of end-2016. ...

Cambodia is seeking to expand its market for milled rice to Sweden and is looking for ways to cooperate further in trade and investment. ...

While international rubber prices rebounded late last year, Cambodia’s exports in 2016, however, remained relatively unchanged compared with 2015, according to the Ministry of Agriculture, Forestry and Fisheries. ...

Cambodia will begin applying for a loan from the newly established China-backed Asian Infrastructure Investment Bank (AIIB) from next year in response to the current need for infrastructure development. ...

Two Chinese companies are looking to lease land along the Cambodia-Vietnam border in Takeo province to build factories producing animal feed and processing meat for export. ...

Prime Minister Hun Sen attended a dinner with Swiss company executives in Zurich on Monday, where he invited investors to join the upcoming ASEAN World Economic Forum (WEF), which Cambodia will host for the first time in May. ...

Banking pioneer Pung Kheav Se was appointed yesterday as president of the Association of Khmer-Chinese in Cambodia, succeeding Duong Chhiv, who retired after holding the post for 16 years. ...

US-based Uber will conduct a study on the feasibility of operating its ride-sharing services here in Cambodia, its representatives told the Commerce Ministry on Friday. Commerce Minister Pan Sorasak told Uber Asia-Pacific representatives Chan Park and Brian Shroder that the increased proliferation of internet and mobile ...