Economy and commerce

Amru, Cambodia’s leading rice miller and exporter, on Friday signed a deal with Thai Starch Company to supply 8,000 tonnes of fresh organic tapioca and the first exports will be in early 2019. ...

In the wake of the dissolution of the Cambodia National Rescue Party last week by the Supreme Court, which effectively removes any viable opposition party from challenging next year’s national elections, the European Union issued a statement seemingly warning that the Kingdom’s preferential access through the Everything ...

The National Bank of Cambodia (NBC) announced on Friday that local banks and microfinance institutions (MFIs) can now issue corporate bonds or list equity securities on the nascent Cambodian stock market, a move industry insiders claim will help financial institutions raise capital and be less ...

The repercussions of last week’s political moves in Cambodia when the Supreme Court dissolved the main opposition party has left many wondering what the repercussions will be for local businesses. ...

Nippon Express, a Japanese company specialising in truck, rail and air transport services, is now eyeing an expansion of its operations in Cambodia, according to a recent government announcement. ...

The Kampot Pepper Promotion Association exported 60 tonnes of Kampot pepper during the first nine months of 2017 and aims to reach 80 tonnes by the end of the year. ...

The Ministry of Economy and Finance (MEF) recently decided to shrink the tax burden for local microfinance institutions (MFIs) by lowering withholding tax on interest from loans acquired from abroad from 14 to 10 percent, a move that the government claims will keep the massive ...

Cambodia and China signed a Memorandum of Understanding (MoU) on Friday to support the development of the Kingdom’s e-commerce business operations. ...

Cambodia has failed to finalise the terms of a massive 250,000-tonne delivery of rice to Bangladesh, with industry insiders claiming that shipments have been cancelled as millers do not currently have the stockpiles to meet export demand while hopes for further negotiations appear to be ...

The US multinational Walmart has said it will buy more garment, footwear and luggage products from Cambodia next year due to increased capacity from suppliers and improved labour conditions in the country. ...

During a meeting last week with a Vietnamese rubber association, Minister of Agriculture Veng Sakhon reminded Vietnamese investors of the many opportunities that the Cambodian agricultural sector offers and asked them to come to the kingdom to establish rubber and cassava processing factories. ...

The National Bank of Cambodia (NBC) will open a museum on finance and monetary matters in January 2018, a representative of the central bank has announced. ...

The Council for the Development of Cambodia (CDC), the government body in charge of approving large-scale investments, has taken to Facebook to officially announce its decisions on investment projects, a move that a government official claimed yesterday will provide more transparent access for investors and ...

Ruling Cambodian People’s Party (CPP) lawmaker Hun Many reassured investors yesterday, saying the government was focusing on ensuring a good investment climate in the country underpinned by social stability. ...

As growing trade and investment linkages in Asia and the Pacific have helped to improve the region’s overall resilience to global economic and trade policy uncertainties, countries in the Greater Mekong Subregion (GMS) need to make swifter progress in streamlining trade through multilateral agreements that ...

A new centre will launch in April 2018 to train Cambodian migrant workers to work with elderly people in Japan. On Tuesday, Minister of Labour Ith Samheng said the Japanese company Procast Asia would establish the centre. ...

Cambodia’s garment and footwear exports will likely see a slower percentage of growth this year at around 5 percent, compared with 7 percent in 2016, a trend that industry insiders dismissed as not being indicative of an overall decline or linked to the current political ...

Ith Sam Heng, the Minister of Labour and Vocational Training, met yesterday with Yoshio Kondo, the director of Procast Asia, who is leading a delegation of businessmen from the Toukaizaikai Association, an organisation that has more than 300 member companies in the manufacturing industry and ...

With trade and investment between Cambodia and China steadily increasing, Chinese currency-backed settlements for cross-border commerce have sharply taken off as the Kingdom continues to deepen its economic dependency on the northern giant, a central bank official said yesterday. ...

The government has already provided $9 million from its emergency rice loan fund to the Kingdom’s rice millers since the harvest season began in September, nearly triple the amount it provided when it first launched the initiative last year when millers showed little appetite for ...

The central bank officially held a soft launch last Friday for its central shared switch mechanism, which connects account records of three of the Kingdom’s leading financial institutions, allowing them to operate ATM and point-of-sale (POS) terminals in tandem. ...

Cambodia’s economic growth will remain on course this year but will likely slow in the coming years to 6 percent as investment tapers off and credit growth tightens, according to an updated note by the International Monetary Fund (IMF) released on Friday. ...

Indian companies in the pharmaceutical and health care sector are seeking to enhance their footprint in the Kingdom by extending beyond pharmaceutical trade through state financing that could establish a direct link to bring Cambodian medical tourists to the subcontinent. ...

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. ...