Economy and commerce

A partnership with General Electric (GE), the Boston-based American multinational conglomerate, will be the best way forward for Cambodia to meet its 2035 goal of reducing carbon dioxide emissions by three million tons annually and electrifying 100 percent of rural areas, representatives from the company ...

Fertiliser manufacturer Nangoku Agriculture Development, a Japanese-Cambodian joint venture, launched operations yesterday with the aim of supplying locally manufactured fertilisers to Cambodian farmers at affordable prices.​ ...

A Chinese steel company is in talks with Sihanoukville Special Economic Zone (SSEZ) to set up an industrial facility in the zone, a marketing executive said on Saturday. ...

The 50 percent drop in revenue of the Phnom Penh Special Economic Zone (PPSEZ) recently announced for the first nine months of the year is due mainly to a significant decline in land sales, a senior official said yesterday. According to the initial, un-audited revenue statement ...

Acleda Bank, a leading locally-owned commercial bank, has received a $30 million loan from the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, through Goldman Sachs’ 10,000 Women and the International Finance Corporation’s (IFC) Banking on Women program for supporting women-owned small ...

A Malaysian automotive company has requested approval to establish a factory in Cambodia to assemble Nissan automobiles and manufacture spare parts for the vehicles, a government official said yesterday. ...

The Kingdom’s total exports to Japan, one of the world’s largest economies, sharply increased in the first nine months of the year, a result of Cambodia’s effort to diversify export markets and preferential trade treatment from Japan. ...

The United Kingdom’s bilateral trade dealing with Cambodia will remain unchanged in light of ongoing negotiations on the UK’s position within the European Union, a senior British trade official said yesterday. ...

In light of global predictions of a slowdown in economic markets, led largely by China’s slackening growth, the International Monetary Fund (IMF) yesterday offered Cambodia advice on short and longer term measures to help maintain growth. It also warned that the country’s rapid credit growth ...

A dozen Malaysian companies involved in green energy yesterday opened a showroom in Phnom Penh to display their products, ranging from solar panels to energy efficient LED lighting. ...

Reduced fees for the loading of containers of milled rice for export, fixed for the next two years, came into effect on Tuesday as part of government efforts to boost the rice sector’s global competitiveness. According to a letter signed by Economy Minister Aun Pornmoniroth, dated ...

Illegal sand dredging has been eradicated from Cambodia, but reforms are still needed, the Ministry of Mines and Energy said on Wednesday, facing mounting blowback over sand export records that differ by tens of millions of cubic meters from those kept by the U.N. ...

T-shop Cambodia, a Phnom-Penh based electronics distributor, is planning an aggressive push into the provinces through company-owned and franchise outlets, and will look to raise capital for expansion by offering shares on the local stock exchange, the company’s CEO said yesterday. ...

The Association of Banks in Cambodia (ABC) and the Korea Federation of Banks (KFB) yesterday signed a memorandum of understanding (MoU) to expand and strengthen cooperation as well as provide support to South Korean investors, especially those in the banking sector who are now investing ...

Cam Top Property Group, from Cambodia, and Australia-based Cate Group have come together to jointly invest $25 million in an affordable housing project that will be launched next week for low middle- and middle-income Cambodians. ...

Companies should embrace the concept of corporate social responsibility (CSR) in their operations and encourage a positive impact through their activities on the environment, consumers, employees, communities, stakeholders and all other members of the public, said an NGO official yesterday. “CSR-focused businesses would proactively promote public ...

Extolling forecasts that Cambodia’s economy will maintain its 7 percent growth rate this year, Prime Minister Hun Sen yesterday reiterated a past prediction that the country would reach upper-middle income status by 2030 and become a high-income country in 2050 – though one expert said ...

Agriculture officials and struggling smallholder tobacco farmers are cautiously hopeful that tariff exemptions granted under a new trade agreement with Vietnam will lift sagging demand for their crops. ...

Cambodia is overcoming “ineffective practices” and should not be held to the standards of developed countries, a Commerce Ministry spokeswoman said on Tuesday amid renewed calls for the government to investigate over $400 million in unrecorded sand exports to Singapore. ...

As part of ongoing government efforts to modernize and streamline the country’s tax system, 43 tax agent licenses were awarded yesterday. The 43 companies are now legally recognized as offering tax declaration services to the public and private sectors. Eighteen had previously been doing this work ...

American-owned dairy farm Moo Moo Farms is looking to markedly increase production of its raw – unpasteurized – milk and increase its current herd of 25 cows. The farm, located in Kandal province, began operations earlier this year. According to a statement from the Ministry of ...

The chief executive of ANZ Royal Bank has denied media reports that the Australian and New Zealand Bank Group (ANZ) is considering pulling the plug on its Cambodian operations amid a planned retreat from the region’s markets. ...

Over 3 tonnes of contaminated prahok – made of fish illegally imported from Vietnam – were confiscated on Friday by Takeo authorities from some of the same sites that in September had already been warned to stop using smuggled fish.​ ...

Maybank Cambodia recently purchased an online stock and share trading platform to allow its premier wealth customers access regional and global markets. Cythia Liaw, Maybank Cambodia CEO, said Friday that the trading platform – KE Trade – was developed by Singapore-based Maybank Kim Eng, the fully ...