Economy and commerce
Future is bright for nation’s rice farmers
In the wake of concerns about the detrimental impact of the European Commission’s partial EBA withdrawal on Cambodia’s rice export industry, there is positive news. As the country’s most important crop, around 600,000 tonnes of jasmine and fragrant rice are exported every year, according to the ...
Sok Chan
https://www.khmertimeskh.com/50694317/future-is-bright-for-nations-rice-farmers
As KrisEnergy gears up to produce Cambodia’s first drop of oil, it has been besieged by creditors
The company told shareholders that it will appear in court in Singapore next Monday to request a second three-month extension to a debt moratorium. The moratorium has been in place since August, when KrisEnergy began efforts to restructure its debt load, which stood at $476.8 ...
Khmer Times Staff
https://www.khmertimeskh.com/50693541/as-krisenergy-gears-up-to-produce-cambodias-first-drop-of-oil-it-has-been-besieged-by-creditors
Regulator touts achievements of local stock market
The Cambodia Securities Exchange (CSX) continues to go from strength to strength, with the average trading value growing nearly five-fold from 2018 to 2019 to surpass $157,000, the latest report from the market regulator shows. ...
May Kunmakara
https://www.phnompenhpost.com/business/regulator-touts-achievements-local-stock-market
Rubber exports increase 17%
Cambodia exported 27,445 tonnes of rubber worth $40 million in the first month of the year, up 17 per cent compared to the same period last year, Ministry of Agriculture, Forestry and Fisheries official Khuon Phalla told The Post on Thursday. ...
Thou Vireak
https://www.phnompenhpost.com/business/rubber-exports-increase-17
Imports down over Covid-19
Shipments of goods between the Kingdom and China are declining amid the Covid-19 outbreak, according to local logistics experts. SHA Transport Express CEO Khut Saroeun told The Post that there has been a 10 per cent drop in import-export activity between the two economies. ...
Hin Pisei
https://www.phnompenhpost.com/national/imports-down-over-covid-19
Red-tape eliminated for agro-product exporters
The Ministry of Agriculture, Forestry and Fisheries has announced that rice exporters and agro-product exporters can now attain sanitary and phytosanitary certificates at one window service centres to streamline the process. The ministry’s decision was made after a Cambodia Rice Federation proposal last week. ...
Thou Vireak
https://www.phnompenhpost.com/national/red-tape-eliminated-agro-product-exporters
Cambodia benefits from Japanese tech
Minister of Economy and Finance Aun Pornmoniroth has encouraged the Japanese-owned Kirirom Institute of Technology to seek more Japanese technology companies to aid the establishment of the Eco-Technology Park at the Kirirom resort in Kampong Speu province. ...
May Kunmakara
https://www.phnompenhpost.com/business/cambodia-benefits-japanese-tech
Koreans eyeing bank IPO
Korean investors are looking forward to investing in the local stock market as it prepares to welcome Acleda Bank Plc into its main board. With Acleda Bank, one of the largest banks in the Kingdom, scheduled to go public in upcoming weeks, hundreds of Korean businesspeople ...
May Kunmakara
https://www.phnompenhpost.com/business/koreans-eyeing-bank-ipo
CDC okays investments worth over $83 million
Ten investment projects worth $83.7 million were approved by the Council for the Development of Cambodia (CDC) this week, it said in a press release said on Tuesday. The projects are anticipated to create some 4,744 jobs. ...
Thou Vireak
https://www.phnompenhpost.com/business/cdc-okays-investments-worth-over-83-million
Meng: FTA with China will help us forget EBA
The loss of trade preferences in Europe would be more than offset if Cambodia manages to enter a free trade agreement (FTA) with China, said Cambodian Chamber of Commerce (CCC) president Kith Meng. Meng on Tuesday said landing an FTA with the second-largest economy in the ...
Hin Pisei
https://www.phnompenhpost.com/business/meng-fta-china-will-help-us-forget-eba
PM: Economic growth hampered by Covid-19
Prime Minister Hun Sen on Tuesday reiterated that the Kingdom’s projected economic growth of 6.5 per cent will be hit hard by the Coronavirus outbreak, and not because of the EU’s partial withdrawal of the ‘Everything But Arms’ (EBA) scheme. ...
Niem Chheng
https://www.phnompenhpost.com/national-politics/pm-economic-growth-hampered-covid-19
Cambodia’s ranking as a logistics hub remains ‘stable’
Cambodia’s ranking has slightly improved in this year’s global index of emerging logistics markets, rising one notch compared with the same survey last year from 42 to 41 among 50 countries included in the study. ...
Jose Rodriguez T. Senase
https://www.khmertimeskh.com/50692512/cambodias-ranking-as-a-logistics-hub-remains-stable
Tax incentives offered to SMEs that register
Tax preferences have been offered to small and medium enterprises (SMEs) as incentives for encouraging informal ones to register and update business information. ...
Chea Vannak
https://www.khmertimeskh.com/50692394/tax-incentives-offered-to-smes-that-register
Hun Sen: EU should respect Kingdom’s stance on human rights, democracy
While Cambodia accepts the European Commission’s recommendation for the partial suspension of the Kingdom’s Everything-but-arms (EBA) trade status, Prime Minister Hun Sen said the European Union should also respect the Kingdom’s stance. ...
Ben Sokhean
https://www.khmertimeskh.com/50692508/hun-sen-eu-should-respect-kingdoms-stance-on-human-rights-democracy
GMAC: Pulling rug from under workers’ feet not way to proceed
The Garment Manufacturers Association in Cambodia (GMAC) has expressed disappointment at the European Commission’s (EC’s) recent decision to suspended one-fifth of the Everything But Arms (EBA) scheme awarded to Cambodia. ...
Niem Chheng
https://www.phnompenhpost.com/national-politics/gmac-pulling-rug-under-workers-feet-not-way-proceed
Banana exports solid but mangoes struggling as Novel Coronavirus affects fresh fruit markets
Fresh bananas are still being exported to the Chinese market. However, fresh mangoes to the South Korean market have been badly hit by the Noval Coronavirus effect on fresh fruit markets. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50692103/banana-exports-solid-but-mangoes-struggling-as-novel-coronavirus-affects-fresh-fruit-markets
Garment, footwear, and travel goods exports valued at $9.3 billion
Cambodia exported garments, footwear and travel goods worth $9.35 billion in 2019, a year-on-year increase of 11 percent, according to a report from the Ministry of Industry and Handicraft. ...
Chea Vannak
https://www.khmertimeskh.com/50692028/garment-footwear-and-travel-goods-exports-valued-at-9-3-billion
Cambodia, China closer to FTA signing deal
Cambodia and China say they are now planning to sign a free-trade deal some time later this year. The move came after the duo wrapped up their first-round negotiations, which were held last month in Beijing, China. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50691647/cambodia-china-closer-to-fta-signing-deal
Hopes to boost textile exports to Japan with added value
Cambodia, as well as Laos, Myanmar and Vietnam, are being encouraged to improve their production chains to provide added value to their textile products exported to Japan. The call came at a Phnom Penh workshop for representatives from Cambodia, Lao, Myanmar and Vietnam (CLMV) on ...
Chea Vannak
https://www.khmertimeskh.com/50691648/hopes-to-boost-textile-exports-to-japan-with-added-value
Private sector ‘regrets’ EBA partial withdrawal decision
The Cambodian Chamber of Commerce and other business chambers including the Malaysian Business Council of Cambodia, European Chamber of Commerce in Cambodia and American Chamber of Commerce in Cambodia have expressed their regret over the recommendation by the European Commission to partially withdraw the Everything ...
Poovenraj Kanagaraj
https://www.khmertimeskh.com/50691649/private-sector-regrets-eba-partial-withdrawal-decision
Key stakeholders report Kingdom’s investment climate friendly, favourable
In a series of interviews conducted by a World Economic Forum team with key stakeholders across policymakers, firms, business associations and researchers, amounting to 41 separate entities, firms have reported Cambodia as possessing a friendly investment and business environment. ...
Poovenraj Kanagaraj
https://www.khmertimeskh.com/50691650/key-stakeholders-report-kingdoms-investment-climate-friendly-favourable
GIZ project to support local SMEs
German international development organisation Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) and the Ministry of Industry and Handicrafts met this week to explore ways of facilitating import and export activities for small and medium-sized enterprises (SMEs) as part as the Integration Support Project Asean plus Cambodia ...
Thou Vireak
https://www.phnompenhpost.com/business/giz-project-support-local-smes
Cambodian exports to the US soar
Cambodia’s exports to the US were worth more than $5 billion last year, a sharp year-on-year increase. The latest data from the US trade office shows that Cambodian exports to the world’s largest economy skyrocketed last year, growing by 40 per cent to reach $5.36 billion. ...
May Kunmakara
https://www.phnompenhpost.com/business/cambodian-exports-us-soar
Ministry: EBA decision ‘politically driven’
The Ministry of Foreign Affairs and International Cooperation has reacted to the European Commission’s (EC) decision to partially suspend the Everything But Arms (EBA) scheme, saying it did not reflect the reality in Cambodia. An analyst also said the suspension would not make the Cambodian ...
Niem Chheng
https://www.phnompenhpost.com/national-politics/ministry-eba-decision-politically-driven