Economy and commerce

Cambodia and the US have signed a memorandum of understanding (MoU) on patent cooperation, the move that will accelerate the bilateral trade between the two countries, according to the Ministry of Industry, Science, Technology and Innovation (MISTI). ...

The National Bank of Cambodia (NBC) has announced a $50 million auction this week to stabilise the local currency exchange rate in the market. The NBC has informed banks, microfinance institutions (MFIs) and licensed money exchangers that the minimum rate for auction will be announced ...

Cambodia Rice Federation (CRF) has claimed that the floods, which have had the biggest impact on the agriculture sector, will not hurt the country’s rice exports this year. ...

Flooding has created uncertainty over the Kingdom’s economic outlook this year, with various figures bandied about and thousands of households and paddies affected. ...

Flooding has caused delays in the transportation of goods for many days as national roads suffer damage, costing the country’s economy dearly because the government will have to spend more on repairs. ...

A senior executive officer of Cambodian rice-crackers manufacturer Lyly Food Industry Co Ltd has said the company will build a special economic zone (SEZ) in Preash Sihanouk province and plans to launch it next year. ...

The government is sending a new draft law on investment to the private sector to discuss ways to make it more comprehensive and help Cambodia become an attractive destination for new investment and to improve the investment environment in the country. ...

The Cambodia Securities Exchange (CSX)-listed Phnom Penh SEZ Plc (PPSP) has announced that it will have no dividend distribution this year and will also be buying back company shares (at an undisclosed volume and value), according to documents filed to the exchange. ...

Newly appointed Ambassador of Russia to Cambodia Anatoly Borovik has pledged to further boost the trade relations and investment between the two countries, which are currently at a low level.   ...

Labor Minister Ith Samheng yesterday asked the European Chamber of Commerce in Cambodia (EUROCHAM) president Tassilo Brinzer to help attract more investors to Cambodia. ...

The government’s tax collection remains strong even during the COVID-19 pandemic, reaching more than $2.25 billion in the first nine months of this year, according to a report by the General Department of Taxation (GDT). ...

China and Cambodia yesterday signed a free trade agreement (FTA) in Phnom Penh, with Cambodian Prime Minister Hun Sen and visiting Chinese State Councillor and Foreign Minister Wang Yi attending the signing ceremony. ...

“Within almost a four-month period as of October 2, 2020, we received a total of 1,793 applications, 1,367 of which have been approved and 426 of which are under review. The average number of days it takes to register a company is eight,” said Undersecretary ...

The Cabinet Meeting, held here this morning under the chairmanship of Prime Minister Hun Sen, approved the draft 3-Year Rolling Public Investment Programme 2021-2023.   ...

Cambodia exported 179,621 tonnes of rubber in the first nine months of 2020, a jump of 3.78 per cent from the same period last year, according to data from the Ministry of Agriculture, Forestry and Fisheries. ...

The National Bank of Cambodia (NBC) has made it clear that the whole microfinance industry should not be held accountable for some of the unregulated microloans that are pushing people deeper into debt. ...

The Australian Government joined the Securities and Exchange Commission of Cambodia (SECC) to launch the landmark Domestic Capital Mobilisation for Infrastructure Investment through the Security Market Project. ...

Chinese-owned Prince Culture and Development Co Ltd officially launched the $85 million Prince Manor entertainment centre in Kandal province on Wednesday. Prince Manor is located along National Road 1, 20km from the centre of Phnom Penh. It is the first major theme park project in ...

The Kingdom’s vehicles business has seen a drop in both sales and imports by an estimated 30 percent because of the impact of COVID-19. Figures from the Ministry of Economy and Finance (MEF) shows that the COVID-19 crisis has caused the country’s imports to fall ...

The National Assembly yesterday adopted the draft law on commercial gambling management to create more jobs and boost the economy. The draft law was adopted after it secured 114 votes out of the 117 parliamentarians present during the 5th session of the 6th National Assembly ...

The Royal Government will  stand by its forecast  that the economy will not  contract by more than -1.9 percent this year.  In addition, it has forecasted that  positive growth will return in 2021 with an estimated 3.5 percent. ...

The National Bank of Cambodia (NBC) is continuing to accept small denomination US banknotes ($1, $2 and $5) “free of charge” from financial institutions, despite the August 31 deadline it had set out in May. ...

The Cambodian government is working hard at becoming more  flexible to attract foreign  investments and boost external trade to keep pace with the ever changing  global trading environment. ...

The government is now drafting a policy on pepper with the intention of scaling up a competitive advantage, attract investors and boost added-value to Cambodian pepper production, according to a senior official at the Ministry of Commerce. ...