Economy and commerce

A second ship accused by the NGO Mother Nature of illegally exporting dredged ocean sand last week is expected to arrive at a port in China today with a cargo of silica sand, which is exempt from the ban, the ship’s owner said yesterday. ...

Fourteen community representatives speaking for thousands of families yesterday petitioned the South Korean Embassy, Environment Ministry and Forestry Administration to halt the expansion of a controversial “reforestation” project by a Korean company situated between the protected Prey Lang forest and Mekong River. Their petition – ...

Sihanoukville Autonomous Port (SAP), the state enterprise that operates Cambodia’s principal seaport, announced a share price of 5,040 riel ($1.26) yesterday for its upcoming initial public offering following a bookbuilding exercise that garnered a strong response from institutional investors. ...

Cambodia has enjoyed strong economic growth but needs to improve its governance and rule of law in order to promote greater development, the Economic and Social Commission for Asia and the Pacific (Escap) said in a report released yesterday.​ ...

As Cambodia prepares to host the World Economic Forum in East Asia, an official from the group that organizes the event has said the country is ready, having seen steady growth and reductions in poverty in recent years. ...

About 300 victims of an alleged Ponzi scheme filed complaints with the Phnom Penh Municipal Court, the Justice Ministry and the National Assembly on Monday asking for the government’s help in recouping their losses. ...

While financial inclusion is a top priority for emerging economies, new research suggests more stringent enforcement of anti-money regulations in recent years has resulted in major Western banks disconnecting from these regions, leaving local businesses without access to the international financial system. ...

The Mines and Energy Ministry on Friday defended sand exports reported last week by an environmental NGO, saying Cambodia’s sand ban did not include the type seen in a video being loaded onto vessels off the coast of Sihanoukville. ...

Several international and local coffee industry representatives gathered yesterday for the start of a three-day event promoting partnerships and franchising opportunities to satisfy Cambodia’s growing coffee cravings. ...

A businessman is appealing his conviction for smuggling more than three tonnes of ivory into Cambodia, the largest haul ever seized. ...

More foreign franchise companies will appear in Cambodian as the rising urban population and surging middle class want to enjoy international brands, an expert in the industry says. ...

Two new life insurance companies will launch operations in Cambodia by the end of this week, aiming to grab hold of a market that has seen rapid expansion in recent years while also creating stronger competition in the emerging industry. ...

With the World Economic Forum (WEF) on Asean less than a week away, government officials yesterday said that the theme of the three-day event would focus on “Youth, Technology and Growth”, while providing an opportunity to raise Cambodia’s international profile and attract more investors and ...

A conservation NGO official yesterday said he planned to ask microfinance lenders to better scrutinise their loans after a spate of cases over the last month showed that such loans had been used by illegal loggers to purchase chainsaws and tractors for transporting timber. ...

The US-based nonprofit Global Financial Integrity (GFI) measured illicit financial flows – the illegal movement of money or capital from one country to another – and found that as much as $45 billion in trade activity in Cambodia over the period was not accounted for. ...

Numerous members of the Cambodia Rice Federation (CRF), the body tasked with lobbying on the sectors behalf, have stopped paying membership dues and export fees, claiming that they cannot afford to as the industry continues to struggle with high production costs and regional export competition. ...

The Agriculture Ministry has confirmed action to combat a drastic drop in pork prices over the past year due to illegal imports of live pigs from neighboring countries. ...

Aeon plans to open the stores across the capital and surrounding provinces following the success of its flagship 68,000 square-meter mall, which opened in 2014. ...

The key ingredients for e-commerce adoption are in place in Cambodia but many specific measures need to be addressed by both the private and public sector before the Kingdom can tap into the huge opportunities offered by a digital economy, according to a new report ...

Acleda Bank on Tuesday launched a smart phone app in an effort to reach low-income earners who do not use banks.​ Unity ToanChet, a Fin-Tech application, lets customers carry out transactions anywhere and at any time. ...

Cambodian rubber exports increased 32 percent during the first three months of the year compared with the same period last year, while prices grew 132 percent during the first quarter, an agriculture official said yesterday. ...

Economic crime police last year helped arrest nearly 70 people in more than 300 cases, mostly involving intellectual property violations, counterfeiting and chemical production. ...

Local and foreign investment in the Kingdom declined by nearly $1 billion last year, with the bulk of losses coming from fewer infrastructure and agriculture projects, while the manufacturing and tourism sectors continued to post massive gains, according to the Council for the Development of ...

The Sihanoukville Autonomous Port (PAS) launched a book building process yesterday to determine what price to offer in an initial public offering (IPO), before it is listed on the Cambodia Securities Exchange late next month. ...