Economy and commerce

Cambodia is seeking a loan from China to set up a common commodity distribution hub for exporters and importers to reduce production and logistics costs and raise the competitiveness of manufactured and agricultural products in the region. ...

Prime Minister Hun Sen questioned yesterday the extent of the ASEAN Economic Community’s (AEC) commitment towards forming an inclusive economic region as countries continue to compete with each other for agricultural exports and inflows of foreign direct investment. ...

Prudence Foundation, established by Prudential Life Insurance, launched its nationwide financial literacy program Cha-Ching yesterday. ...

Integrating Asian economies through a proposed regional partnership and other trade deals is vital for achieving sustainable growth, Cambodia’s public works minister said on Monday. ...

Acleda Bank signed an agreement in Bangkok yesterday with International Finance Corporation and the Goldman Sachs 10,000 Women initiative for a $70 million long-term loan project to support Cambodia’s small- and medium-size enterprises (SME) owned by women. ...

ANZ Royal announced yesterday that it has bagged the prestigious 2016 Triple A Awards from The Asset magazine after being named as the best trade finance bank in Cambodia. ...

With the e-commerce law hoped to be passed before the end of the year, industry experts said it is important for Cambodian businesses to begin to encourage e-commerce activity, with an emphasis on electronic payments systems. ...

Shares in Phnom Penh SEZ debuted on Cambodia’s nascent stock exchange yesterday morning, ending the day at 2,890 riel ($0.71), down slightly more than 3 per cent from its opening price of 2,980 riel after an underwhelming level of trading. ...

The Agence Française de Développement (AFD) opened its office in the capital in September 1993. Today, the AFD provides direct funding in the field of agriculture and agro-industry, infrastructure development, manufacturing sector and vocational training. Since 1993, the AFD has given grants of more than ...

Prime Minister Hun Sen yesterday asked China to consider Cambodia’s rice stocks as part of its effort to distribute food relief to other countries. The request was made during a meeting between the premier and Ho Hau Wah, Vice-Chairman of the Chinese People’s Political Consultative Conference ...

Legal timber exports to Vietnam – the bulk of them rosewood – soared between 2013 and 2015, with the volume of logs exported increasing by a factor of 142 and seven times as much sawn wood passing across the border, according to a report by ...

A group of companies from Taiwan are seeking joint ventures with partners in Cambodia, to export products and services to the Kingdom, amidst growing investor confidence that the Mekong country is developing in almost all sectors. ...

The property behemoth in Phnom Penh has attracted a top China-based developer, Country Garden Holdings Co. Ltd, which seems keen to invest in the building of a modern satellite city that can accommodate two million people in the Kingdom. Yang Guoqiang, Chairman of Country Garden ...

Maybank Cambodia launched its first mobile application, which features Augmented Reality and QR Code Reader, on Saturday. ...

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 ...