Economy and commerce

Phnom Penh has been selected to host the 2017 World Economic Forum (WEF) on East Asia, the WEF confirmed on Wednesday.   ...

The government approved more than $1 billion worth of domestic and foreign direct investment in the first quarter of the year, down sharply from the $2.8 billion approved in the same quarter last year, figures released by the Council for Development of Cambodia (CDC) yesterday ...

Members of the government and private sector met yesterday in Phnom Penh to discuss ideas and solutions aimed at facilitating the growth of eco-friendly technologies and practices in Cambodia. ...

Tourism industry executives and government officials from Thailand and Cambodia gathered in Phnom Penh yesterday for a roadshow on the meetings, incentives, conferences and exhibitions (MICE) segment of the tourism industry to find ways to work together to drive new business.   ...

Cambodia’s young, tech-enthusiastic population is a gateway to accessing the global market digitally, according to the ICT Federation of Cambodia, with its president – Steven Path – estimating that the information and communication technology sector is already nearing about $1 billion in sales. ...

Thailand’s plans to sell off 11.4 million tons of its rice stockpile over the next two months is concerning Cambodia, which fears the sale will drive global prices down as the Kingdom struggles to meet its own export target. ...

A bilateral investment agreement between Cambodia and Hungary will be sent to the National Assembly floor this week after it gained approval from the Council of Ministers on Friday, according to spokesman Phay Siphan.   ...

With Southeast Asian nations struggling to produce enough energy to drive their economies, some of China’s leading solar companies are looking for investment opportunities in the region.   ...

Despite a precipitous drop in the start-up costs of solar energy, Cambodia’s biggest industrial parks are sticking to high-cost grid and fuel-generated electricity, claiming that when it comes to attracting foreign manufacturers, a stable power supply trumps a cheaper electricity bill. ...

Cambodia’s current account balance deficit was the equivalent of $542 million in the fourth quarter of 2015, the equivalent of 11.5 per cent of GDP, the National Bank of Cambodia said in a report released yesterday.   ...

Newly appointed Minister of Commerce Pan Sorasak issued a shot across the bow yesterday at individuals and companies that infringe on the intellectual property of other firms, warning his ministry was ready to take action against violators. ...

Deputy Prime Minister Hor Namhong on Tuesday urged outgoing Singaporean ambassador Kevin Cheok to encourage the island state to invest more in Cambodia. ...

The independent industry body representing Cambodia’s authorised automobile distributors launched a consumer awareness campaign yesterday aimed at informing the public of the risks of purchasing second-hand cars on the local grey market, which it said reduces government tax revenue while flooding the streets with predominately ...

Malaysia-listed Zhulian Corp Bhd plans to expand its diversified Multilevel Marketing  (MLM) business into Cambodia and Laos to tap the strong potential of both countries, media reports said yesterday.    ...

Sathapana Microfinance Plc., the third largest MFI in Cambodia, has officially transformed itself into a commercial bank with total capital of $120 million, a move in line with Japanese-owned Maruhan Japan Bank acquiring a 95.1 percent stake in 2012.​ ...

Cambodia Post Office (CPO) and Wing (Cambodia) Specialized Bank have signed a partnership allowing Wing customers to transfer money and pay bills through the government agency as the post office moves into e-commerce. ...

Malaysia-based retailer Giant, one of the largest players in Asia, has launched its first store in Cambodia, opening in Phnom Penh’s Grand City Mall as part of a major expansion into the Kingdom. ...

Despite strong growth in investment in the construction sector, investors, builders and developers still largely neglect insurance on projects, industry and government officials say.​ ...

The National Bank of Cambodia will launch a new payment system to increase inter bank activity in a move to shore up confidence in the Kingdom’s rapidly expanding banking sector, it said in a press release yesterday. ...

Acleda Bank Plc., the country’s largest commercial bank by branches, has seen rapid growth in online transactions – now about $500,000 a month – since it launched its e-commerce payment gateway late last year, a senior executive at the bank said yesterday. ...

Phnom Penh SEZ Plc, which operates the country’s busiest industrial park, launched its IPO public roadshow yesterday, pitching its solid track record and growth potential to prospective investors that it hopes will sink up to $11.6 million into the company’s initial public offering on the ...

Cambodia does not expect to win the contract to supply half million tons of rice to the Philippines during the bidding process that will take place in the upcoming months, citing high production costs as the major constraint in competing with neighboring Vietnam and Thailand, ...

Chinese agro firm Rui Feng (Cambodia) International Company began operations at its 360-million-U.S.-dollar sugar production factory here on Tuesday after spending nearly two years for construction.​ ...

Representatives from Vietnam, Laos and Cambodia gathered Monday in Vietnam’s Central Highlands Dak Lak province to discuss an agreement on trade promotion. ...