Economy and commerce

The South Korea-based Nong Hyup Bank plans to open a branch in the Kingdom and will focus on investments and loans in the agriculture sector, according to a senior official in the Ministry of Agriculture. ...

German-backed online job recruitment portal Everjobs officially announced plans yesterday to conduct its first career fair in Cambodia. The company, which entered into Cambodia a year ago, joins the ranks of numerous online job portals aiming to dominate the recruitment market.   ...

The American coffee franchise giant Starbucks opened its second outlet in Cambodia at Aeon Mall yesterday. ...

The Ministry of Agriculture, Forestry and Fisheries has finished its evaluation of rice producers and processors that have registered to export milled rice to China, checking to see if they comply with the hygiene laws in China. ...

Cambodia’s first milk manufacturing plant, which aims to dominate the domestic dairy market, officially launched production operations yesterday after a ribbon-cutting ceremony held at the factory’s home in Phnom Penh SEZ. ...

Exports of organic palm sugar from Kampong Speu province have reached 135 tons, while the palm sugar industry’s association plans to expand its production chain to help meet demand. ...

Facilitated by Taiwan’s First Commercial Bank, seven foreign banks provided $35 million in a syndicated loan to Sathapana Bank Plc, a newly formed Cambodian commercial bank, to expand its existing microfinance operations and broaden its commercial lending portfolio. ...

Rubber producers say the price of local rubber has declined again, blaming a slowdown in the global economy and less demand for rubber. ...

Russia has agreed to import agricultural products from Cambodia, while the leaders of the two countries pledged to boost bilateral trade during meetings between the two countries’ senior officials in the past week. ...

Supermarket owners are to be called for a meeting with the Commerce Ministry in response to complaints from small and medium sized enterprises (SMEs) that local products are not displayed or sold on their shelves, the commerce minister said yesterday at the launch of a ...

Vietnam will host its seventh annual trade fair in Cambodia during the second week of October of this year, the Department of Economics in the Vietnam Ministry of National Defense (MOD) announced in Ho Chi Minh City last week.   ...

Cambodians’ growing appetite for fast food and franchised food outlets, and the increasing number of restaurants springing up in the capital and other towns, has become a healthy business for some of the food chains now operating in the Kingdom.    ...

Khmer Specialized Bank, a subsidiary of Khmer Holding Group, was officially inaugurated to offer financial services to Cambodians yesterday, with $21 million worth of investment capital and becoming the 13th specialized bank in Cambodia. ...

Bilateral trade between Thailand and Cambodia decreased by 13 per cent in the first three months of this year compared to the same period in 2015, according to statistics provided by the Royal Thai Embassy. ...

An ecologically-friendly satellite town called Le Urban Eco Park, a $50 million joint venture between Singaporean and local investors, is expected to be completed in the next couple of months after the more than two years of construction. ...

While food safety control services and inspection systems for food products at the Industrial Laboratory Center of Cambodia (ILCC) have showed some improvements, the ILCC still lags behind Asean standards, according to Ministry of Industry and Handicraft secretary of state Sat Samy.   ...

A government official lambasted the slow application rate for non-governmental organizations (NGOs) that operate as microfinance lenders, urging them to register with the National Bank of Cambodia (NBC). ...

Although data for first four months of this year have shown a slight rise in rice exports, millers and exporters continue to raise concerns on the back of April’s rapid decline. ...

Emerald Resources NL, an Australian mining firm with interests in Cambodia, will relist on the Australian Securities Exchange (ASX) on Tuesday following the company’s compliance with chapters 1 and 2 of the exchange’s listing rules and rule 11.1.3, the company said in a filing yesterday. ...

Thai financing firm Group Lease Plc posted a record-high 222.17 million baht ($6.3 million) net profit from its operations in the first quarter of the year, a 101.5 per cent increase from the same period a year earlier, driven by improvements in its Thai operations ...

The Asian Development Bank on Monday named Cambodia as the fastest growing economy in Asia in its latest new analysis article titled Here Comes Cambodia: Asia’s New Tiger Economy. ...

Cambodia’s total agricultural production was down slightly last year while a larger share of this production went to exports, the Ministry of Agriculture said in its annual report, released yesterday. ...

The Kingdom’s first automated measures to apply for sanitary and phytosanitary (SPS) certification of imports and exports will be launched by the end of June in an effort to boost and facilitate communication between Ministry of Agriculture officials and importers and exporters applying for SPS ...

Almost 60 tons of Cambodian mangoes were exported to the European Union during the harvesting season this year, according to Mong Reththy, who runs the country’s largest agricultural export company. ...