Economy and commerce

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. ...

Garment manufacturer Gran d Twins International (GTI) will pay out a reduced cash dividend for 2015 as a result of net profits dropping by 70 per cent last year compared to 2014, the company said yesterday in a filing to the Cambodian Securities Exchange (CSX). ...

Grand Twins International (GTI), a Taiwan-owned listed company on the Cambodia Securities Exchange (CSX), declared a dividend payout ratio of 50 percent of its net profit after tax for the 2015 financial year. The dividend distribution will be made on the 30th of this month. ...

The Ministry of Economy and Finance in partnership with Cambodian Public Bank Plc. signed a memorandum of understanding (MoU) yesterday, establishing the bank as the Ministry’s prime tax collecting institution nationwide. ...

Thailand-based JWD Infologistics Plc’s recent purchase of a 5.2 percent stake in the Phnom Penh Special Economic Zone Plc (PPSEZ), is expected to give a boost to the local company’s traded share value on the Cambodia Securities Exchange (CSX). ...

The two-day official state visit to the Kingdom, that started yesterday, by Vietnam’s new President Tran Dai Quang marks a new milestone for bilateral trade and investment between the two close neighbors that would also have a multiplier effect of attracting overseas capital into the ...

The National Bank of Cambodia responded to rumours yesterday that local banks were no longer accepting US dollar banknotes with minor imperfections, such as small tears, creases or ink stamps, stating that the central bank had not changed its policies. ...

The KB Global Digital Bank is a rechargeable wallet-based mobile banking service which combines both financial services, such as account, wire transfer, overseas remittance and P2P payment, and non-financial services like messaging. ...

A South Korean phone-based money transfer company has partnered with Wing Specialized Bank to tap into remittance services for Cambodians living and working abroad. ...

The Regional Comprehensive Economic Partnership (RCEP) should also be given priority as the Kingdom eyes to join the US-led Trans-Pacific Partnership (TPP) to promote economic growth, trade and investment in the Asia-Pacific region and the Pacific Rim countries. ...

Companies and organizations from six countries along the Mekong River have established a business alliance, with a view to build a platform for cross-border e-commerce. ...

Seven angel investors descended on Phnom Penh last Friday as part of the launch of a new investment initiative that aims to tap into Cambodia’s growing startup culture and support entrepreneurial endeavours with guidance and early stage risk funding. ...