Economic policy and administration

Orix, a Japanese financial conglomerate, will acquire about $11 million shares in Acleda Bank PLC, Cambodia’s largest bank, by the year’s end, officials announced Wednesday, although industry executives said the investment appears only exploratory and likely won’t make more than a ripple in the banking ...

Partly triggered by recent flood damage and an increase in road accidents, claims filed with the six general insurance companies in Cambodia spiked more than 160 per cent in the nine months through to September compared with the same time last year, the latest data ...

Cambodia’s customs officials on Wednesday called on all importers to pay”tax fees as stated by law, not pay bribe”to customs officers. The appeal came after some Chinese importers have complained that Cambodian customs officers have increased tariffs for their imported products, or not allowed their ...

Cambodia is benefiting from a steadily growing service sector, but it needs to clear a number of obstacles to harness the sector’s potential, said a new Asian Development Bank (ADB) report released on Tuesday. The report, entitled Developing the Service Sector as an Engine of Growth ...

Cambodia’s insurance industry recorded a total premium of 31 million U.S. dollars in the first nine months of the year, up 20 percent compared with the same period last year, figures showed Tuesday. It said during January-September period this year, the total amount of claims paid ...

Two of the leading microfinance institutions (MFIs) in Cambodia said yesterday that they have identified a relatively small fraction of borrowers who were affected by flooding and would provide relief on their repayment schedules if necessary. The comments come after both Prime Minister Hun Sen and ...

This year, the Cambodian people celebrate their 60th National Day as well as the birthday of the Cambodia Kingdom’s royal army under the bright leadership of King Norodom Sihanouk, who relentlessly struggled against the French colonialists to gain independence (09-11-1953 – 09-11-2013). In 2010, Father ...

Garment industry, Cambodia’s largest income maker, reported a 24 percent rise in exports in the first ten months of 2013, according to figures of the country’s Ministry of Commerce Thursday. The figures showed that the country exported garment products in equivalent to 4.76 billion U.S. dollars ...

The opposition party has called on microfinance institutions to renegotiate payment terms with flood-affected loan holders. This year’s floods have affected 20 provinces and more than 1.7 million people, with 31,314 households evacuated, according to the Humanitarian Response Forum. The Cambodia National Rescue Party has asked that ...

Cambodian and U.S. senior officials met here on Monday to further promote bilateral ties and cooperation. The meeting was made between Ouch Borith, secretary of state at the Cambodian Ministry of Foreign Affairs, and Scot Marciel, visiting principal deputy assistant to the United States Secretary of ...

The Cambodian Ministry of Commerce said Friday that it had granted operating licenses to 2, 223 new companies in the first nine months of 2013, down 14.6 percent compared with 2,606 new firms over the same period last year. From January to September this year, the ...

Cambodia’s newly appointed minister of commerce said Thursday that he plans to reform the country’s economy ahead of Cambodia’s entrance into the Asean Economic Community (AEC) 2015, though he and other officials did not say how they plan to accomplish that goal. Speaking to reporters on ...

The Cambodian government should construct an effective annual review system for the minimum wage to ease worker unrest, according to clothing retail giant H&M. The Swedish company’s comments came after CEO Karl-Johan Persson visited the country in mid-October, meeting Cambodia Prime Minister Hun Sen and other ...

Maybank Cambodia Plc, with 12 branches in the Indo-Chinese country, is optimistic over Cambodia’s medium-to-long-term prospects with its four additional branches opened today, bringing its total network there to 16 branches. With the opening of the branches, the bank expects them to boost its total deposits ...

National insurance broking firm MGA Insurance Brokers is opening a new office in the developing market of Cambodia. The Cambodian operation was being set up as a joint venture with two local brokers, Chantol Seng and Sophat Meas, who had extensive international experience. “Cambodia has a ...

Cambodia ranked 137 out of 189 countries in the World Bank’s Doing Business 2014 report released Tuesday, the first drop in at least two years that shows conducting business in the country is becoming more difficult. The report ranks countries in 10 categories, including starting a ...

Cambodian Prime Minister Hun Sen on Monday urged Chinese companies to focus their investments in processing plants for agricultural products in order to help increase the country’s productivity for exports. The premier made the suggestion during a meeting with a visiting Chinese delegation led by Wang ...

Despite the disputed territory near Phra Viharn Temple, Thai-Cambodian border trade is still normal as 150,000 billion baht cash flow is expected by the end of 2013. According to the Thai Chamber of Commerce (TCC), border trade along the disputed area around Phra Viharn Temple ...

Cambodia has seen a trade deficit of 1.48 billion U.S. dollars in the first nine months of 2013, according to the Commerce Ministry’s data on Friday. The total import and export volume was valued at 11.82 billion U.S. dollars during the January-September period this year, up ...

More than 55,000 people have joined an online petition set up by a pair of French nongovernment groups urging the European Union (E.U.) to immediately launch an investigation into local sugar plantations accused of illegally evicting hundreds of Cambodian families. At the center of the dispute ...

Environmental groups and a local community leader in Stung Treng province have called for a nationwide boycott of the popular Angkor Beer brand to protest the beverage company’s links to a controversial hydro­power dam to be built in Laos. Laos announced earlier this month that it ...

Cambodia appears unlikely to meet its target of becoming a high middle-income nation by 2030 and years of gains it has made reducing poverty could be erased by even a modest shock to the economy, according to the latest World Bank data. World Bank senior country ...

Cambodia’s Special Economic Zones (SEZs) have received a total investment of 1.65 billion US dollars since their inception in 2006, according to a government report released on Friday. Since 2006 to now, the zones have attracted 172 investment projects, mostly from China, South Korea and Japan, ...

Cambodia’s GDP growth was projected to reach 7 percent in equivalent to 15.65 billion U.S. dollars in 2013 despite a challenging global economic environment, the World Bank said Monday. Overall macroeconomic outlook remains positive, having sustained agricultural growth, continued strong performance of the tourism sector, a ...