Economy and commerce

The Central Banks of Cambodia and Vietnam have lauded the progress of their bilateral cooperation which has contributed significantly to the development of the banking and economic sectors of the two countries. ...

In fewer than 20 days the Cambodia-China Free-Trade Agreement (CC-FTA) comes into force after both countries signed the deal on Oct 12 during a two-day state visit by China’s Foreign Minister Wang Yi in Phnom Penh. ...

Cambodia’s exports see new light with the granted duty-free and quota-free access to the markets in the United Kingdom, commencing 2021. Sok Sopheak, Secretary of State at the Ministry of Commerce shared that Cambodia will discuss with the UK counterpart on the import and export ...

The Association of Banks in Cambodia (ABC), the Cambodia Microfinance Association (CMA) and the Cambodian Association of Finance and Technology (CAFT) have issued a statement strongly encouraging their customers, the public and business owners to both settle accounts and accept payments electronically via digital platforms. ...

The Council for the Development of Cambodia (CDC) on December 4 announced that it had issued a final registration certificate for Inter-Mattrid Beverage (Cambodia) Co Ltd’s $78 million brewery/beverage plant. ...

From recycled bicycles to second-hand mannequins, thrift shops push quirky finds to the limits which in the past has split perceptions. However, as consumer demands continue to shift, a combination of factors has exponentially spurred the pre-owned goods market, trend analysts say is only set ...

The Council for the Development of Cambodia (CDC) on December 4 said it had issued final registration certificates to five investment projects worth more than $121 million and which are expected to generate 1,334 jobs. ...

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. ...