Economy and commerce

Cambodia’s National Assembly on Tuesday adopted a draft law on fire prevention with jail term punishment for arsonists, neglected firefighters, and false information providers on fires. Ninety-four out of ninety-seven lawmakers, who were present at the session, passed the law, saying it would help maintain security, ...

A new microfinance institution (MFI), ORO Financecorp Plc, is set to open in Cambodia, according to the director-general of the National Bank of Cambodia (NBC). Cambodia already has 35 registered MFIs, according to a recent report by the Cambodia Microfinance Association (CMA). Last week, the ...

F1soft Company, a software service provider that makes banking transactions available via phone, had commenced operations in Cambodia, company officials said yesterday during a workshop. Sean Thorninn, a lecturer in economics at the Limkokwing University and expert in Cambodia’s landscape of microfinance institutions (MFI), told ...

An often flouted and publicly unpopular restriction forbidding Cambodia’s telecoms from offering lucrative mobile phone promotions was scrapped on Sunday, just two weeks after it was introduced. In a letter from the Ministry of Posts and Telecommunications (MPTC), signed by Minister So Khun, it announced a ...

During his speech last week at the swearing-in ceremony of Phnom Penh’s new governor, Pa Socheatvong, Interior Minister Sar Kheng noted that managing Cambodia’s capital is by no means an easy task. While critics of [former Phnom Penh governor] Mr. [Kep] Chuktema note his failure ...

The small but sleek Angkor Car can easily navigate the narrow streets of Cambodia, while with an electric engine saves on expensive fuel costs. It may cost $10,000 per vehicle, a bit steep for most local people, but the vehicle is a welcome testimony to ...

Cambodia and Bangladesh on Friday signed a visa-free agreement for diplomatic and service passport holders in a bid to strengthen bilateral ties in politics, trade, investment and tourism, officials said. The deal was inked here between Long Visalo, secretary of state at Cambodian Ministry of Foreign ...

Five men working for Ratanakkiri rubber concessionaire DM Group, including a soldier, have been arrested for allegedly beating a villager and his children – one of whom, doctors say, may not survive – in a scuffle over their family’s land, the father said yesterday. Police confirmed ...

Cambodia is considering offering sovereign bonds to raise more revenue for the national budget and move away from its dependence on overseas aid, a senior central bank official said Sunday. National Bank of Cambodia director-general Nguon Sokha said the Ministry of Economy and Finance was currently ...

British sugar firm Tate & Lyle has denied knowing of the alleged abuses at two Cambodian plantations accused of illegally driving hundreds of families off their farms and says that the families have no right to ask the company for compensation, according to the firm’s ...

“I don’t know what I was expecting, but I wasn’t going expecting to look out the bus window and see all the blue bags along the roads and in the fields,” said 27-year-old Christopher Convery, who is currently backpacking for the first time in Cambodia. ...

“The agriculture sector today is still playing significant role in promoting local production growth, job creation, and contributing to the poverty reduction of the people.  At the same time, the agriculture sector will continue the basic role for economic growth and socio-economic development in Cambodia in ...

Cambodia’s 35 microfinance institutions had lent 1 billion U.S. dollars to customers by the end of March this year, up 24 percent from 808 million U.S. dollars it lent at the end of last year, the data of Cambodia Microfinance Association (CMA) showed Wednesday. On the ...

The two-way trade volume between Cambodia and the United States valued at 758 million U.S. dollars in the first three months of this year, up only 0.8 percent compared with 752 million U.S. dollars over the same period last year, the statistics of the U.S. ...

More than 50 engineers employed by Japan’s Sumitomo Mitsui Construction Co. Ltd. to work on a new Neak Loueng Bridge in Kandal province protested on Wednesday over paying income tax of 10 percent and are threatening to go on strike again if their employer dose ...

Three companies accused of illegal logging in Ratanakkiri province are in possession of a combined 30,000 hectares of economic land concessions (ELCs) that are likely illegal because they are owned by the same parent firm. Hoang Anh Andong Meas, Hoang Anh Lumphat and Hoang Anh Ouyadav ...

The Boeung Kak community and a land rights NGO yesterday released a proposed demarcation plan they say could solve the long-standing land dispute. In a map presented yesterday, villagers said they had agreed on a land division that would make room for 70 families locked out ...

BANGKOK: Demand for farmland may strip the Greater Mekong region of a third of its remaining forest cover over the next two decades without swift government action, a leading conservation group warned Thursday. Forests are being cleared for commodities such as rubber and rice while illegal logging is decimating ...

The Ministry of Commerce has released figures showing Cambodia’s export of fishery goods including fresh and dried fish products have decreased drastically in the first quarter of the year, though several government officials viewed the figures with scepticism. Cambodia exported 49.9 tonnes of fish products in ...

Cambodia Angkor Air is planning rapid fleet and network expansion as competition intensifies in the Cambodian market. The Cambodian flag carrier is expected to more than double its fleet by the end of 2015 and launch services to several new markets, including mainland China, Hong ...

Cambodia announced two major bilateral trade agreements last month, with the Philippines and Thailand, that are expected to further expand the country’s rice export sector. Over the last few years, Cambodia has emerged as a major rice exporter in the region, due in large part ...

The Ministry of Economy and Finance (MEF) last month signed a prakas, a ministerial decision, to ensure tax agents’ professionalism, an insider told the Post yesterday. After the full implementation of Prakas 455, signed on April 12, agents have to pay one million riel to ...

More economic activity and a better understanding of using formal financial services among rural residents are leading to good loan performance rates and increases in savings deposits in Cambodia’s microfinance industry, according to industry sources. The loan portfolios of the 35 registered microfinance institutions (MFI) and ...

Thousands of Cambodian people visited and bought Thai products on Thursday at a large scale exhibition although simmering border spat between the two countries remains unsolved. “Even though border dispute is still going on, trade and investment ties between Thailand and Cambodia are still good,” Amparwon ...