Economy and commerce
Crude palm oil exports increase
Cambodia’s exports of crude palm oil have increased, though the price has declined in line with falling global prices, according to an official and a producer. ...
Sum Manet
http://www.khmertimeskh.com/news/22860/crude-palm-oil-exports-increase/
Thais propose business centers in border areas
Thai executives are encouraging their government to build business centers in Cambodian provinces that border the country, as well as in its other ASEAN neighbors, according to Thai media reports. ...
May Kunmakara
http://www.khmertimeskh.com/news/22798/thais-propose-business-centers-in-border-areas/
Sesame exports on the rise, official says
The Kingdom exported 9,379.29 tons of sesame last year, according to a report from the Ministry of Agriculture, Forestry and Fisheries, with Vietnam buying the lion’s share. ...
Sum Manet
http://www.khmertimeskh.com/news/22796/sesame-exports-on-the-rise--official-says/
MFIs moving swiftly on mobile banking
Microfinance institutions (MFIs) have been expanding their financial services to include the use of mobile phones, a move aimed at boosting services for people in rural areas who find it difficult or expensive to travel to offices in towns or villages. ...
Chea Vannak
http://www.khmertimeskh.com/news/22797/mfis-moving-swiftly-on-mobile-banking/
Maybank opens new office in Cambodia
Malayan Banking Bhd (Maybank) is further strengthening its operations in Cambodia with the launch of Maybank Tower, a new 10-storey corporate office in the country. ...
The Star Team
http://www.thestar.com.my/business/business-news/2016/03/15/maybank-opens-new-office-in-cambodia/
Sweet step forward for Kampong Speu palm sugar
Palm sugar from Kampong Speu, which has been registered for geographical indication (GI) status, is in the processing stage of being granted protected geographical indication (PGI) status in Thailand and Vietnam. This comes after Kampot pepper was recently certified as PGI in the European Union ...
Chea Vannak
http://www.khmertimeskh.com/news/22734/sweet-step-forward-for-kampong-speu-palm-sugar/
Kingdom's sugar exports to EU plummet
New figures show that Cambodia’s sugar exports to the European Union fell by 94.8 per cent between 2013 and 2015, amid accusations of rights abuses and land grabbing in the Kingdom’s industry. ...
Will Jackson
http://www.phnompenhpost.com/national/kingdoms-sugar-exports-eu-plummet
PM urges tighter rules on micro loans
Prime Minister Hun Sen told a summit on micro-finance development yesterday that stricter rules needed to be applied to organizations and institutions lending money as many people were being cheated, embezzled and losing their collateral to unscrupulous lenders. ...
Chea Vannak
http://www.khmertimeskh.com/news/22751/pm-urges-tighter-rules-on-micro-loans/
National Bank to launch financial literacy campaign
A campaign will be launched country-wide to educate the public about how to properly use financial services, a forum on microfinance in Phnom Penh was told yesterday. ...
Sok Chan
http://www.khmertimeskh.com/news/22735/national-bank-to-launch-financial-literacy-campaign/
ASEAN FTA with Hong Kong, China on track
Trade between Cambodia and Hong Kong is rising fast, expanding from about $1 billion in 2014 to $1.3 billion last year year, Veng Sothy, an Undersecretary of State at the Commerce Ministry, told a meeting in Siem Reap Friday. ...
Sok Chan
http://www.khmertimeskh.com/news/22681/asean-fta-with-hong-kong--china-on-track/
IDs are not ‘sufficient guarantee’ for loans
Cambodia’s central bank has asked all financial institutions, especially rural lenders, to refrain from accepting personal identity cards, residential records and family books as a guarantee while giving out loans to consumers. ...
Sor Chandara
http://www.phnompenhpost.com/business/ids-are-not-sufficient-guarantee-loans
Risky new lending service offers quick cash for a price
Sok Rasmey (not his real name) works for an NGO in Phnom Penh with a salary of $350 a month. This is usually enough to cover his modest living costs, but when urgent expenses arise, he often looks to borrow to cover his costs. Ashamed ...
Kun Kourchettana
http://www.phnompenhpost.com/business/risky-new-lending-service-offers-quick-cash-price
MFI employee jailed for embezzling $300,000
A former employee of a microfinance institution (MFI) was Tuesday jailed on charges of embezzling some $300,000 from the company, a court official said. ...
Kang Sothear
https://www.cambodiadaily.com/news/mfi-employee-jailed-for-embezzling-300000-109664/
Credit hunger still voracious
In its 10th year, Cambodia’s growing microfinance sector has seen stellar credit and deposit growth. But concerns remain over this speed of credit growth in the sector, as well as the rise in unlicensed lenders operating in rural areas. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/credit-hunger-still-voracious
MFI employee jailed for embezzling $300,000
A former employee of a microfinance institution (MFI) was Tuesday jailed on charges of embezzling some $300,000 from the company, a court official said. ...
Kang Sothear
https://www.cambodiadaily.com/news/mfi-employee-jailed-for-embezzling-300000-109664/
Rice group seeks $30m emergency loan
The president of the Cambodia Rice Federation (CRF) has asked the government for an emergency loan of $20 million to $30 million, saying it is necessary to prevent the collapse of the rice sector. ...
Sok Chan
http://www.khmertimeskh.com/news/22559/rice-group-seeks--30m-emergency-loan/
Firm to advise on offshore financial products
Tag Wealth International, a subsidiary of Australian financial services company Tag Group, will establish a permanent office in Phnom Penh to provide services for expatriates living in Cambodia, its director said yesterday. ...
Ayanna Runcie
http://www.phnompenhpost.com/business/firm-advise-offshore-financial-products
Muhibbah’s profits rise on Cambodian activities
Malaysian conglomerate Muhibbah Engineering Bhd reported that revenue declined 7.5 per cent last year, but gross profit increased in part due to its stake in the company that operates Cambodia’s three international airports. ...
Post Staff
http://www.phnompenhpost.com/business/muhibbahs-profits-rise-cambodian-activities
Lao rice-export target sparks alarm
Local rice millers and exporters have responded with alarm to the rice-export target set by the Lao government of 1 million tons this year, while Cambodian rice millers and traders have yet to overcome numerous barriers hindering their competitiveness at home and abroad. ...
May Kunmakara
http://www.khmertimeskh.com/news/22477/lao-rice-export-target-sparks-alarm/
After prod, Rice Federation springs to action
The Cambodia Rice Federation (CRF) will work closely with the government to curb Vietnamese rice imports flooding the domestic market and channel more lending to domestic millers so that they can compete with rivals in neighboring countries, it said yesterday in a statement. ...
May Kunmakara
http://www.khmertimeskh.com/news/22407/after-prod--rice-federation-springs-to-action/
PTT to add 70 gas stations by 2020
An additional 70 gas stations will be set up across the country by 2020 by PTT (Cambodia) Limited, a subsidiary of Thailand’s PTT oil and gas conglomerate, while retail prices will soon be regulated to reflect the fluctuations in global oil prices. ...
Sok Chan
http://www.khmertimeskh.com/news/22390/ptt-to-add-70-gas-stations-by-2020/
Private sector urged to spur infrastructure development
Poor infrastructure and transportation services are holding Cambodia back by stifling exports and investment, a conference was told yesterday. ...
Chea Vannak
http://www.khmertimeskh.com/news/22389/private-sector-urged-to-spur-infrastructure-development/
Claims of Cambodia outpacing VN's garment exports denied
Recently, several local newspapers reported that Cambodia surpassed Viet Nam to become the fifth largest exporter of garment and textile products to the EU. ...
Vietnam Net Team
http://english.vietnamnet.vn/fms/business/152094/claims-of-cambodia-outpacing-vn-s-garment-exports-denied.html
Revised rubber export tax scheme criticised
Rubber producers said yesterday the government’s decision to amend the export tax scheme on natural rubber fell short of expectations and would do little to stem the losses of farmers as rubber prices hover near a six-year low. ...
Sor Chandara
http://www.phnompenhpost.com/business/revised-rubber-export-tax-scheme-criticised