Economy and commerce

Phnom Penh Special Economic Zone (PPSP) will commence and execute its share buyback plan in the middle of December, if approved by the exchange and its regulator, according to information given to Khmer Times by the company’s management. ...

Cambodia has now exported its first batch of fresh mangoes to China this week. The agreement was made between the two countries back in June when it was decided that Cambodia could export around 500,000 tonnes of high quality mangos per year. ...

MAFF’s data shows that as of Dec 2, 2020, livestock production increased from 42.02 million heads to 49.42 million heads, up 17.6 percent compared to the same period in 2019. Livestock production included fowl, (chicken and ducks), cattle (cows and buffalo), and poultry. ...

Kampot provincial officials are seeking a solution with Vietnamese authorities to enable smooth cross-border rice commerce and resolve lingering concerns over traffic congestion and customs procedures. ...

Iran has voiced an interest in buying Cambodian agricultural products for domestic consumption and re-export, Cambodian ambassador to Thailand Ouk Sorphorn told The Post on December 3. ...

A senior official of the Ministry of Commerce (MoC) said negotiations towards a free trade agreement (FTA) between Cambodia and South Korea saw agreement on 90 percent of the issues addressed as the fourth round of talks concluded last month. ...

The Kingdom is now capable of domestically producing up to 102,000 tonnes of white sugar per year from sugarcane grown at plantations in its southwestern provinces (Kampong Speu, Koh Kong), according to statistics released by Phnom Penh Sugar Co Ltd (PPSC) last week. ...

Motivated to build a green industrial zone in Cambodia, the newly-established NGO Environmental Protection Industry Associations of Cambodia (Epiac) will work with Chinese-owned industrial park developer and operator QiLu (Cambodia) Special Economic Zone Co Ltd to set a new precedent for environmentally-friendly design and construction. ...

Cambodia has called for an increase in investment from Russia, particularly in the light and medium machinery sector, according to a senior official at the Ministry of Commerce. ...

Asian Development Bank (ADB) has adjusted its medium-term outlook for Cambodia’s economy, projecting that it will contract by 4 percent by the end of the year.  ADB’s previous outlook had projected that the national economy would decline by 5.4 percent compared with last year, as ...

Cambodia has exported more than 5 millon tonnes of agricultural products (excluding rice) in the first 11 months, according to Ministry of Agriculture, Forestry and Fisheries (MAFF). ...

Chinese-owned Hong De Sheng (Cambodia) Steel Co Ltd has announced that its $16.7 million steelworks in Kampong Speu province’s northeastern Oudong district will start operations this month. ...

CRF’s president Song Saran said demand for Cambodian rice in the global market is increasing and the CRF expected exports to reach 800,000 tonnes this year. However, because there was drought, and flash-flooding in September, the figure may change. ...

The microfinance sector’s nonperforming loan (NPL) ratio decreased from 2.56 percent in September to 2.27 percent in October after rising from 1.33 percent in January and peaking in May at 2.61 percent. ...

Peer-to-peer (P2P) lending marketplace Rai Capital (Cambodia) Co Ltd on November 26 announced its official launch in the Kingdom. It said it is designed for micro-entrepreneurs and individuals to promote financial inclusion in the Kingdom and enable flexible local financing solutions for local businesses and ...

The government has released a new e-commerce strategy to address how the nation can best benefit from the rapid growth over the last decade of the Kingdom’s digital economy. ...

The Credit Bureau of Cambodia (CBC) has made available a new digital application that for the first time allows Cambodian citizens to check their credit score, view credit reports and receive credit monitoring alerts. ...

Prime Minister Hun Sen has called for countries in the region to increase digital connection development in a bid to help the economy recover after the COVID-19 pandemic. ...

The General Department of Taxation (GDT) has organised an official signing ceremony of the letter of User Acceptance Testing (UAT), and launched the trial of a Data and Information Sharing Automatic System, according to a recent GDT’s press release. ...

WorldBridge Industrial Developments Co Ltd on November 27 broke ground on its long-awaited WorldBridge i4.0 SME Cluster zone in Kandal province. ...

The $180 million The Hyatt Regency Phnom Penh hotel is set to launch in January, marking the brand’s first venture into the Kingdom’s capital. Local conglomerate Chip Mong Group signed a management agreement with Chicago, US-based Hyatt Hotels Corp in September 2016 for the hotel, ...

The United Nations Development Programme (UNDP) has renewed calls for the Cambodian government to issue sovereign bonds in riels to underpin the government’s effort on de-dollarisation and protect the economy against external shocks. ...

The Ministry of Commerce’s Directorate General of Consumer Protection, Competition and Fraud (CCF) has conducted a “National Dissemination and Planning Workshop on the Law on Consumer Protection” for relevant stakeholders and representatives of local and international organizations.​ ...

In a first for the Cambodia Securities Exchange (CSX), a listed bond were traded on the secondary market on November 24, data from the bourse show. As a result, South Korea-owned Phnom Penh Commercial Bank Plc’s (PPCBank) first bond offering (PPCB23A) on the CSX saw ...