Economy and commerce

Tobacco worth over $2M exported to VN last year

Cambodia exported more than 1,000 tonnes of dry tobacco leaves to Vietnam last year, valued at more than $2 million. The figure marks a 24 per cent increase from 2016, the Ministry of Commerce said. Ministry of Commerce spokesman Long Kemvichet said data showed the ...

Cheng Sokhorng
https://www.phnompenhpost.com/business/tobacco-worth-over-2m-exported-vn-last-year

Fresh round of MFI license cancellations by NBC

The National Bank of Cambodia (NBC) has rejected two license applications and revoked the licenses of 24 microfinance institutions operating outside the capital, according to an announcement released Wednesday. ...

Sum Manet
https://www.khmertimeskh.com/50531273/fresh-round-of-mfi-license-cancellations-by-nbc/

Koh Kong ‘Vacation Town’ to cost $1.2B

Union Development Group (UDG), the Chinese developer behind Koh Kong province’s $3.8 billion tourism project called Dara Sakor, has unveiled plans for yet another project called “Tourism Vacation Town”. The announcement comes despite the company releasing little information about its previously touted venture. ...

Hor Kimsay
https://www.phnompenhpost.com/business/koh-kong-vacation-town-cost-12b

Cashew sector pared down as farmers change crops

Cashew nut production in the Kingdom declined by more than 50 per cent in the three years leading up to last year, as farmers followed the market by switching to other crops, figures from the Ministry of Agriculture indicate. ...

Cheng Sokhorng
https://www.phnompenhpost.com/business/cashew-sector-pared-down-farmers-change-crops

Firms back loan relief measures for victims

Representatives from the Kingdom’s microfinance sector on Sunday said the industry was keeping a close watch on those impacted by the Mekong River flooding, and that they were willing to take measures to reduce the financial burden on the victims. ...

Hor Kimsay
https://www.phnompenhpost.com/business/firms-back-loan-relief-measures-victims

Authorities to inspect disputed K Speu land

Officials from Kampong Speu province will inspect the 45 hectares under dispute between 17 families and two companies, which had been acquired for development purposes. ...

Khouth Sophak Chakrya
https://www.phnompenhpost.com/national/authorities-inspect-disputed-k-speu-land

PPSP and PAS report strong performances

Phnom Penh Special Economic Zone (PPSP) and Sihanoukville Autonomous Port (PAS) – both public companies listed in Cambodia’s nascent stock market – reported solid growth during the first half of the year. ...

May Kunmakara
https://www.khmertimeskh.com/50522980/ppsp-and-pas-report-strong-performances/

Trade war may boost Kingdom’s US exports

Exports of travel goods from the Kingdom are set to gain from the ongoing US-China trade war as US lobbyists for the Garment Manufacturers Association of Cambodia (GMAC) claim that President Donald Trump plans to raise duties on such China-made products from 10 to 25 ...

Hor Kimsay
https://www.phnompenhpost.com/business/trade-war-may-boost-kingdoms-us-exports

CDC gives $68M hotel project nod for Poipet

The Council for the Development of Cambodia (CDC) has approved a more than $68 million hotel project in Poipet town, it said on Friday. The project, funded by Boonma Heng Co Ltd, aims to build the first four-star hotel in the province, complete with 392 ...

Hin Pisei
https://www.phnompenhpost.com/business/cdc-gives-68m-hotel-project-nod-poipet

Hun Sen to attend WEF on Asean

Caretaker Prime Minister Hun Sen will attend three days of meetings at the World Economic Forum (WEF) on Asean in Hanoi next month, alongside seven other Southeast Asian heads of state, a WEF release said on Wednesday. ...

Hor Kimsay
https://www.phnompenhpost.com/business/hun-sen-attend-wef-asean

Local mango planters can still depend on EU market: Exporter

Despite the failure to export to China and South Korea local planters can expect a boost in the exportation of fresh mangoes to the European Union (EU) provided they have quality products, said an exporter yesterday. ...

Chea Vannak
https://www.khmertimeskh.com/50519681/local-mango-planters-can-still-depend-on-eu-market-exporter/

Exports to US see 26% growth

Exports to the US grew 26 per cent in the first half of this year, despite tensions over the Kingdom’s July 29 national elections. This stands in stark contrast to last year when export growth to the US was in single digits. ...

Hor Kimsay
https://www.phnompenhpost.com/business/exports-us-see-26-growth

China should invest in Battambang milling plant

The Minister of Commerce Pan Sorasak urged a Hunan-based company to take advantage of the vast, untapped potential in the agricultural sector and to invest in an export processing plant in Battambang. ...

May Kunmakara
https://www.khmertimeskh.com/50519249/china-should-invest-in-battambang-milling-plant/

Deal signed with China over banana exports

The Kingdom on Thursday signed a joint phytosanitary protocol for banana exports to China, with officials saying this was the first move in promoting the product on the world stage. The agreement was signed by the Chinese ambassador to Cambodia Xiong Bo and Agriculture Minster ...

Hin Pisei
https://www.phnompenhpost.com/business/deal-signed-china-over-banana-exports

Students to learn financial literacy

Cambodian students from grade 1 to 12 will begin studying basic financial skills starting in the 2019 academic year as the National Bank of Cambodia (NBC) is now finalising the curriculum. NBC director-general Chea Serey said Thursday that the new curriculum would help boost the ...

Hor Kimsay
https://www.phnompenhpost.com/business/students-learn-financial-literacy

Kingdom exports to Japan regain double-digit growth

The Kingdom’s exports to Japan rebounded in the first half of the year, jumping from single-digit growth last year to 19 per cent, new figures from the Japanese External Trade Organization (Jetro) showed. During the first half of last year, Cambodian exports to Japan grew ...

Hor Kimsay
https://www.phnompenhpost.com/business/kingdom-exports-japan-regain-double-digit-growth

Palm sugar GI status in EU hits a glitch

The process of obtaining geographical indication (GI) status for Kampong Speu palm sugar in the European Union suffered a setback this week after a company asked for revisions to the wording of the product’s guidebook, according to a producers association. ...

Chea Vannak
https://www.khmertimeskh.com/50518153/palm-sugar-gi-status-in-eu-hits-a-glitch/

Despite election uncertainty, exports achieve solid growth

Exports of garment and footwear products achieved solid growth during the first half of the year, expanding by 9.3 percent. According to the Ministry of Commerce, exports from the country’s garment industry were valued at $3.7 billion during the first six months of the year. ...

May Kunmakara
https://www.khmertimeskh.com/50517748/despite-election-uncertainty-exports-achieve-solid-growth/

CDC gives nod to $3.5B in projects

The Council for Development of Cambodia (CDC) approved projects worth a total $3.5 billion in the first half of this year – a 14 per cent increase compared to the same period last year, a statement released on Saturday said. ...

Hin Pisei
https://www.phnompenhpost.com/business/cdc-gives-nod-35b-projects

Acleda looking to go public

Twenty-five percent of Acleda Bank’s shares will soon be available for trading as stakeholder ASA Plc announced late Wednesday, its plan to list on the Cambodia Securities Exchange (CSX). Acleda Securities Plc president and CEO Prom Visoth noted that the move could potentially double the ...

Hor Kimsay
https://www.phnompenhpost.com/business/acleda-looking-go-public

Chinese Ambassador: EU Should Not Mix Politics,Trade in Cambodia

China’s Ambassador in Phnom Penh says the European Union should not mix politics with trade as it mulls withdrawing Cambodia’s vital preferential single market access in response to the country’s autocratic backslide. ...

David Boyle
https://www.voanews.com/a/chinese-ambassador-eu-should-not-mix-politics-trade-in-cambodia/4489291.html

Salt body to import 30k tonnes from Thailand, China

The Kingdom will import 30,000 tonnes of salt to meet domestic demand as stockpiles are expected to empty by November, a leader from the Salt Producers Community of Kampot-Kep said. Citing the impact heavy rains have had on the industry, co-executive director of the body, ...

Hin Pisei
https://www.phnompenhpost.com/business/salt-body-import-30k-tonnes-thailand-china

Kingdom’s rubber exports bounce high in first half

Cambodian rubber exports surged 21 percent during the first half of the year, compared to the same period last year, the Ministry of Agriculture said on Sunday. Local producers exported 84,419 tonnes of rubber during the first six months of this year, an increase of ...

Cheng Sokhorng
https://www.phnompenhpost.com/business/kingdoms-rubber-exports-bounce-high-first-half

Private sector to EU: Don’t punish Cambodia

Representatives of the Kingdom’s private sector this week urged the European Union not to cancel the Everything-but-arms (EBA) scheme in response to a perceived deterioration of human rights and democracy in the country. ...

May Kunmakara
https://www.khmertimeskh.com/50510723/private-sector-to-eu-dont-punish-cambodia/

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