Economy and commerce

The National Assembly yesterday passed a trade remedy law that aims to protect and help local and foreign businesses by introducing anti-dumping measures that prevent the “dishonest” import of goods and produce from neighbouring countries, according to a press release. ...

Six month after announcing its intentions to invest in local silk production, a Japanese beauty company, in partnership with the Ministry of Agriculture, has released a new study on silkworms and their potential for the cosmetics industry, paving the way for more concrete action to ...

A government prakas that requires all businesses to post prices of their goods and services in the local riel currency has had little impact on pricing practices, with the vast majority of businesses in Cambodia continuing to quote prices in US dollars and authorities showing ...

The Embassy of Denmark in Cambodia has encouraged more Danish companies and investors to explore investment opportunities in the kingdom, arguing that in an increasingly competitive global market, it is crucial that national governments and individual businesses cooperate to increase business activity. ...

A company based in China’s southern province of Guangdong opened a 2-hectare market for building and construction materials near the Preah Monivong Bridge in Phnom Penh on Saturday, according to a report by online Chinese news site Commercial News. ...

Cambodian rice exports increased nearly 17 percent during the first nine months compared to the same period last year, with exporters pushing to fill orders under China’s higher import quota as European markets remained steady. ...

Representatives from trade unions and employers associations will put forward a request to the European Union and the United States to consider extending preferential treatment – also known as the Generalized System of Preferences (GSP) – for a number of Cambodian products. ...

Despite better than predicted overall growth for global economies, the World Bank has slightly downgraded its 2017 forecast for Cambodia due to wage and price concerns in the Kingdom’s the garment industry as well as uncertainty surrounding next year’s national election. ...

Prime Minister Hun Sen said yesterday that Siem Reap is in need of a new airport to tackle the rising number of visitors to the area.Last week Cambodia reached an $880-million agreement with China’s Yunnan Investment Holding Ltd which allows the state-owned company to manage ...

A lead economist working with the Asia Development Bank (ADB) has said that Cambodia needs to rethink its economic model, which is heavily based on export-driven growth, as it prepares to shed least developed country (LDC) status, a transition that is expected to take place by ...

Commercial lenders have said the central bank’s requirement that banks and microfinance institutions (MFIs) increase the share of local currency in their loan portfolio to at least 10 percent by the end of 2019 could prove challenging to implement as their biggest clients exhibit a ...

While financial technology, or fintech, has made little traction so far in Cambodia, panellists at a conference in Phnom Penh on Friday expressed confidence that the sector was poised for rapid growth.​ ...

Cambodia and Bangladesh will sign two new memorandums of understandings (MoU) aimed at boosting trade between the two nations.​   ...

Cambodia slid further down the rankings of global competitiveness on this year’s Global Competitiveness Report, which showed the Kingdom dropping five notches on the annual index to hold its position as the second least competitive country in Asean after Laos. ...

Giving a speech to high-ranking officials on Wednesday, Borith spoke of the rising tensions between Washington and Phnom Penh following the arrest of opposition leader Kem Sokha and the closure of U.S.-linked media outlets and a democracy promotion NGO. ...

Cambodia and Bangladesh have finalised terms on a massive rice deal that could see up to 1 million tonnes of rice purchased from the Kingdom over the next five years, with the first shipment due to begin by November, a source close to the deal ...

The National Bank of Cambodia (NBC) and the People’s Bank of China in the autonomous Guangxi region of southern China have launched an official yuan-riel exchange rate that allows businesses and individuals to conduct trade settlement activities without using the US dollar as an intermediary ...

n a speech to 65 senior government officials yesterday, Cambodia’s acting foreign affairs minister said this month had been “the worst” so far in the history of Cambodia-US relations. “Our relationship seems to be difficult,” said Ouch Borith, who is second-in-command at the Foreign Affairs Ministry. ...

The Asian Development Bank (ADB) maintained its economic growth forecast for Cambodia at 7.1 percent for 2017 and 2018 buoyed by the strong performance of developing economies across Asia and the ongoing recovery of large industrial countries, according to a release yesterday. ...

Business confidence among EuroCham Cambodia’s predominantly European member companies fell this year as a result of a lack of positive reforms and uncertainty surrounding upcoming elections, according to a survey released yesterday. ...

The Securities and Exchange Commission of Cambodia (SECC) has issued new regulations and procedures for solving disputes involving parties operating in the securities sector. ...

Cambodia and Bangladesh are seeking to strengthen cooperation on trade and enhance and expand trade and business partnerships via a deal which will be signed in October. ...

Cambodia as a member of the six-nation Greater Mekong Sub-region (GMS) endorsed a five-year action plan framework that includes $64 billion in projects to help the sub-region achieve inclusive growth and sustainable development. ...

The state-run Rural Development Bank (RDB) received a total of 10 proposals from Cambodian agricultural firms expressing interest in developing rice storage and drying facilities across three provinces using government-backed low-interest loans, a bank official said yesterday. ...