Economy and commerce
Derivatives licences handed out
Cambodia’s capital market regulator officially granted its first round of derivatives trading licences this week, nearly 10 months after it vowed to formally regulate the inherently risky financial instrument and provide investors with more options to earn profits. ...
Kali Kotoski
http://www.phnompenhpost.com/business/derivatives-licences-handed-out
Novel ATM service for the ‘unbanked’
With mobile money transfer services such as Wing and True Money continuing to spread their agent-based networks into rural parts of the country, local banks are increasingly leveraging their branch locations and ATM presence to provide a similar service through “Cash by Code”. ...
Kali Kotoski
http://www.phnompenhpost.com/business/novel-atm-service-unbanked
Securities companies to provide market liquidity
A new initiative aimed at encouraging more trading on Cambodia’s persistently quiet stock exchange will allow securities underwriters and dealers to become liquidity providers who can hold and trade shares in listed companies. ...
Hor Kimsay
http://bit.ly/2ak6Xdl
Local car hire app gets a jump on Uber
With ride-hailing giants Uber and Grab yet to enter the Cambodian market, a pair of local entrepreneurs have seized the initiative and developed the first private-hire car service and smartphone application for Phnom Penh’s frenetic city streets. ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/local-car-hire-app-gets-jump-uber
Convention centre to put Siem Reap on event circuit
Sokha Hotels and Resorts will open the first dedicated convention centre in Siem Reap next month, giving the country’s leading tourist destination another major draw to attract foreign visitors. ...
Thik Kaliyann
http://www.phnompenhpost.com/business/convention-centre-put-siem-reap-event-circuit
Yusen opens perishables storage facility in Cambodia
Japan-based Yusen Logistics has opened one of Cambodia’s largest temperature-controlled distribution center in Phnom Penh, which is becoming a significant air cargo destination for its textiles and perishable exports. The 33,000-square-foot facility has almost twice the capacity of the existing warehouse and includes a 4,237-square-foot ...
Lewis King
http://aircargoworld.com/yusen-logistics-opens-perishables-storage-facility-in-cambodia/
Concern over trade deal’s investor dispute mechanism
A civil society organisation has raised concerns about the proposed Regional Comprehensive Economic Partnership (RCEP), claiming that one provision of the sweeping trade agreement would limit the Kingdom’s ability to draft socially beneficial policies. ...
Kali Kotoski
http://www.phnompenhpost.com/business/concern-over-trade-deals-investor-dispute-mechanism
Prasac ups paid up capital
One of the Kingdom’s largest microfinance institutions (MFI), Prasac MFI, increased its paid up share capital by $29 million in a bid to increase public confidence and comply with the National Bank of Cambodia’s (NBC) requirements. ...
May Kunmakara
http://www.khmertimeskh.com/news/27959/prasac-ups-paid-up-capital/
Bitter market for local coffee
The Kingdom’s once-promising home-grown coffee industry has been laid low by adverse weather and fierce global competition, with the total area under coffee cultivation cut in half over the last three years as desperate farmers switch to other crops, a senior official at the Ministry ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/bitter-market-local-coffee
Sihanoukville cargo rises
Sihanoukville Autonomous Port (SAP), the Kingdom’s largest maritime container hub, reported a six percent increase in cargo shipments in the first six months of the year, while tonnage rose by 10 percent in the same period. ...
Chea Vannak
http://www.khmertimeskh.com/news/27958/sihanoukville-cargo-rises/
Cambodia, China talk business
China’s Commerce Minister Gao Hucheng, who has been on an official visit to Cambodia, will discuss roads, railways, airport construction, agriculture and other projects with senior government officials in the next few days. ...
Ven Rathavong
http://www.khmertimeskh.com/news/27926/cambodia--china-talk-business/
Plans for US resort
A large US-based international hotels and resorts group plans to invest close to $120 million in a multi-resort development project in Preah Sihanouk province. ...
Sum Manet
http://www.khmertimeskh.com/news/27906/plans-for-us-resort/
Crude palm oil exports rise 116%
The export of crude palm oil (CPO) from agro-industrial conglomerate Mong Reththy Group reached 13,000 metric tons in the first six months this year, up a huge 116 percent compared to the same period last year. ...
Chea Vannak
http://www.khmertimeskh.com/news/27856/crude-palm-oil-exports-rise-116-/
Charting changes in Japanese FDI
Japan’s investment in Cambodia continues to grow and its investors are playing a leading role in developing and diversifying the Kingdom’s light industrial sector. ...
Hor Kimsay
http://www.phnompenhpost.com/business/charting-changes-japanese-fdi
EU asked to increase imports
The National Assembly’s (NA) Second Commission on Economics, Finance, Banking and Auditing yesterday asked the European Union (EU) to increase rice and clothing import quotas from Cambodia, after a discussion on EU subsidies to the Kingdom. ...
Taing Vida
http://www.khmertimeskh.com/news/27825/eu-asked-to-increase-imports/
First-ever FDI survey identifies $20B in capital inflow
Foreign direct investment (FDI) to Cambodia over a 20-year period – from 1994 to 2014 – is estimated to have reached $19.2 billion and was heavily weighed by inflows of capital from China, according to the first-ever comprehensive survey on FDI, released yesterday. ...
Hor Kimsay
http://www.phnompenhpost.com/business/first-ever-fdi-survey-identifies-20b-capital-inflow
Sihanoukville port operator still on course for IPO
The state operator of Cambodia’s only deep-water port remains on course to float shares on the stock exchange and is seeking ways to speed up the listing. ...
Hor Kimsay
http://www.phnompenhpost.com/business/sihanoukville-port-operator-still-course-ipo
Travel-goods makers told act now or risk missing the boat
Just weeks since the United States announced it would grant new trade privileges that allow Cambodian-manufactured travel goods such as luggage and backpacks to enter the US market duty-free under its Generalised System of Preferences (GSP) scheme, a visiting American trade official hinted yesterday that ...
Kali Kotoski
http://www.phnompenhpost.com/business/travel-goods-makers-told-act-now-or-risk-missing-boat
Bank deposits get protection
The Kingdom’s central bank ‒ the National Bank of Cambodia (NBC) ‒ is working closely with experts from the US Treasury to set up a depositors’ protection scheme among banks in the country. This move was welcomed by the country’s banking industry with CEOs saying ...
May Kunmakara
http://www.khmertimeskh.com/news/27744/bank-deposits-get-protection/
Cambodia, Vietnam to build market on border
The Vietnamese government yesterday agreed in principle to provide a grant of $2 million to Cambodia to build a model market aimed at boosting cross-border trade between the two countries, officials at Cambodia’s Ministry of Commerce said. ...
Hor Kimsay
http://www.phnompenhpost.com/business/cambodia-vietnam-build-market-border
Bosch says sales rising on growth of economy
Bosch Cambodia, a supplier of power tools and automotive parts, announced yesterday that its sales revenue grew by 22 per cent in 2015, driven largely by a greater number of construction and automotive projects in the Kingdom. ...
Hor Kimsay
http://www.phnompenhpost.com/business/bosch-says-sales-rising-growth-economy
Cambodia asks UK for FTA
Cambodia’s Commerce Minister Pan Sorasak told British Ambassador Bill Longhurst he would like to see the two countries enter into a free trade agreement (FTA) as soon as possible following Britain’s decision to leave the European Union (EU). ...
Sok Chan
http://www.khmertimeskh.com/news/27684/cambodia-asks-uk-for-fta/
US delegation urges gov’t to speed up reform
Cambodia must accelerate economic reform and develop a sense of “urgency” if it wishes to continue to attract American investment amid growing regional competition, the head of the US-ASEAN Business Council said yesterday. ...
Kali Kotoski
http://www.phnompenhpost.com/business/us-delegation-urges-govt-speed-reform
Japanese capital flooding in to Cambodia
Total Japanese investment in Cambodia under the Kingdom’s qualified investment project (QIP) scheme surged tenfold during the first half of the year, driven by Japan’s improved economy and a hefty capital injection by one of its biggest retail giants. ...
Hor Kimsay
http://www.phnompenhpost.com/business/japanese-capital-flooding-cambodia