Economy and commerce

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, ...

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. ...

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 ...

MQ Technology Bhd, a Malaysian investment holding company, is looking to form a joint venture with a newly formed entity, Cambodian Resorts and Entertainment Co Ltd, to build a $30 million casino and theme park in Prey Veng province near the Vietnamese border, according to ...

Kolao Group, a South Korean-owned automaker and distributor, plans to build factories in a proposed industrial park in Cambodia to assemble its proprietary line of automobiles and motorcycles, a company executive said yesterday. ...

The capital’s listed water utility posted higher revenue against lower earnings during the third quarter of the year in a filing to the Cambodian stock exchange yesterday. Phnom Penh Water Supply Authority (PPWSA) saw its revenue rise by $1 million, or 8 percent, year-on-year to $13.9 ...

Prime Minister Hun Sen warned potential protesters during a speech in front of hundreds of garment workers yesterday, telling the crowd that while it was his duty to make sure investors came and stayed in the country, they had to stop protesting to keep the ...

Cambodian milled rice has passed quality and food hygiene tests for export to China. A delegation of Chinese experts inspected the quality and safety at 27 rice mills during a week-long visit, said Hean Vanhan, director-general of the agriculture department at the Agriculture Ministry. The result of ...

Minebea, the largest Japanese company in Cambodia, officially opened a third manufacturing plant in the Phnom Penh Special Economic Zone yesterday to coincide with the fifth anniversary of its presence in the country. Yoshihisa Kainuma, president and CEO of Mineba (Cambodia), told reporters at the ...

A leading Chinese manufacturer of power transmission and distribution equipment recently visited Cambodia to explore opportunities in the Kingdom’s rapidly growing energy sector, including a proposal for a factory to produce equipment for the electricity sector. ...

The National Bank of Cambodia (NBC) issued a prakas, or directive, last week instructing commercial banks and microfinance institutions to make out more riel loans to their customers, in a bid to promote the use of the national currency. The prakas, which took effect on Thursday, ...

China is considering setting up an industrial zone in Cambodia and says it will announce new areas of cooperation with Asean nations in line with Cambodia’s industrial development policy. The issues were discussed on Saturday when Commerce Minister Pan Sorasak met Xu Ningning, executive president of ...

One of China’s largest steelmakers is seeking partners in Cambodia to build a steel mill that will reduce the Kingdom’s dependency on imported steel for its construction sector, a company executive said. Weng Wei Min, director of the economic cooperation department at Hangzhou Iron and ...

Cambodian goods benefit from the lowest export tariff rates in the world but the Kingdom’s trade is still held back by lengthy bureaucratic procedures and corruption, according to a new study by the World Economic Forum (WEF). The Global Enabling Trade Report 2016, a study published ...

The government will offer three-year, multiple-entry visas to Chinese and South Korean investors in an effort to make doing business easier and increase investment in the Kingdom, the premier said during the first Cambodia-China Business and Financial Development Forum in Phnom Penh yesterday. ...

The high-profile investment conference, held under the tagline “Cambodia: The Kingdom of Opportunity Along The ‘One Belt, One Road”, saw representatives of more than 200 Chinese companies gather at a hotel conference centre on the outskirts of the capital. The full-day event was jointly organised ...

A Japan-based firm plans to invest $3 million to develop a time-share resort built to five-star hotel standards on Kirirom Mountain – about 110 kilometers northwest of Phnom Penh – with construction to start next year. ...

Hundreds of leading Chinese companies will come together with hundreds more local companies today at the first Cambodia-China Business Forum and Financial Development Forum in Phnom Penh, aimed at expanding trade and investment between the two countries. ...

Top executives from foreign firms have spoken out about the constraints of doing business in Cambodia, citing high electricity and infrastructure costs, unskilled local workers, limited transparency, a lack of local manufacturing suppliers and limited sources of raw materials as impediments to progress. ...

Rubber prices on the global commodities market are expected to rise to $2,500 per ton due to the improved state of the world economy and efforts by four major rubber producing countries – Vietnam, Thailand, Indonesia and Malaysia – to cut back supply, according to ...

To safely dispose of hazardous medical waste, Japan-based Tesna Energy has proposed plans to build a factory in the Kingdom producing incineration machinery. ...

Japanese electronics manufacturer Minebea expects to complete construction of its third factory in Cambodia by the end of the year, allowing the company to diversify its operations toward more value-added products, a company official said yesterday. ...

The central banks of Cambodia and China are in talks to share customers’ credit reports in an effort to boost bilateral private investment, as a response to rising trade between the two countries. The National Bank of Cambodia (NBC) director general Chea Serey told Khmer Times ...

A local subsidiary of a South Korean confectionary giant is investing $40 million to develop what it claims will be the world’s largest pepper plantation on a sprawling 1,000-hectare estate in eastern Cambodia, a company executive said yesterday. ...