Economy and commerce

National Bank of Canada attributed its 5.5 per cent jump in fiscal third-quarter profit to its acquisition of Cambodia’s Advanced Bank of Asia Ltd. (ABA Bank) earlier this year. ...

The Ministry of Mines and Energy is set to issue the country’s first commercial underground mining license to Indian company Mesco Gold in two weeks, despite opposition by residents of two villages concerned about compensation and environmental damage. The company plans to break ground on its ...

Cambodia should seek to enlarge its market share of the Thai consumer market by focusing on the export of unique items, a visiting Thai trade promoter said during a workshop in Phnom Penh yesterday. ...

Minister of Commerce Pan Sorasak held a meeting with representatives of the European Union this week to discuss the formulation of a new trade program to be supported by the EU, the Ministry of Commerce announced yesterday. ...

Cambodian financial institutions surveyed yesterday said they were in compliance with the central bank’s revised liquidity coverage ratio (LCR) requirements as the deadline passed to increase their cash and highly liquid assets to weather any internal or external shocks. ...

A modest increase in the inflow of foreign direct investment is a sign that Cambodia remains an attractive destination to investors, and will go a long way toward the country’s development, analysts said yesterday. Total capital inflow of foreign direct investment (FDI) to Cambodia amounted to ...

The Ministry of Labor passed all responsibility for foreign work permits today to E-Solutions (Cambodia) Co., leaving a multitude of unanswered questions about the private company that will process, produce and distribute the permits online. Ministry spokesman Heng Sour declined to answer questions about the company, ...

Kampong Speu palm sugar is expected to receive its geographical indication (GI) status certification from the European Commission’s Directorate-General for Agriculture and Rural Development by the end of this year, according to an official from the Kampong Speu Palm Sugar Promotion Association (KSPSPA). Mr. Sok Sarang, ...

Agricultural exports to Thailand are still being blocked at the border by Thai authorities over concerns that officials’ seals and certificates of origin are being forged, as Cambodian officials try to resolve the issue. The Ministry of Commence on Friday issued a statement stressing that the ...

The Ministry of Commerce and representatives of small and medium enterprises (SMEs) came together on Friday to discuss ways to boost the promotion of made-in-Cambodia goods, both in local and international markets, against a background of local supermarkets discriminating against these local products. Minister of Commerce ...

Rubber industry experts and government officials from ASEAN member countries gathered in Siem Reap yesterday to agree on harmonised standards for rubber products that would facilitate cross-border trade. The Asean Consultative Committee for Standards and Quality (ACCSQ) Rubber-Based Product Working Group (RBPWG) agreed to 61 harmonised ...

While Cambodia’s Moody’s rating is still at the same B2 level as last year, its economic growth has been downgraded two points from 2015, with the international credit rating agency warning that the Kingdom’s rapid pace of credit growth could pose financial stability risks. “The pace ...

Cambodia’s microfinance sector continued to expand rapidly during the first half of the year, despite concerns over rising default rates as the industry’s main borrowers – provincial farmers – struggle to repay their loans after successive seasons of drought and poor harvests. ...

Indian businesses are looking at Cambodia as a convenient hub in the lower Mekong area, as access to trade with neighboring Vietnam and Thailand improves, a government advisor said yesterday. Speaking at a seminar titled “Asean Integration and the Role of India,” Sok Siphana, a lawyer ...

The Overseas Private Investment Corporation (OPIC), the US government’s development financial institution, signed a commitment letter for $125 million direct loan to Acleda Bank to support all sectors through microenterprises and small- and medium-size enterprises (SMEs), Acleda Bank said in a press release yesterday. ...

The Cambodia Securities Exchange (CSX) officially began receiving applications for liquidity providers yesterday as part of an initiative to boost market liquidity, it said in a press release. ...

Two months since a group of angel investors visited Phnom Penh in search of startup investment opportunities, the organisation behind the initiative is planning an even bigger scouting mission, looking for investment opportunities in the Kingdom’s small but vibrant startup community. ...

Current assets in Cambodia’s banking and financial institutions had risen to 25.6 billion U.S. dollars by June 2016, an increase of 21.3 percent in the last 12 months, according to the biannual report of the National Bank of Cambodia (NBC), or the central bank, on ...

With the deadline for a second review by a global task force of the government’s efforts to combat money laundering and terrorism financing fast approaching, the Kingdom’s central bank yesterday conducted a workshop with banks, financial institutions and state agencies to flesh out a strategy ...

Industrial park operator Phnom Penh SEZ, which became the fourth company on Cambodia’s stock exchange when it listed in May, released its audited 2015 annual report and 2016 half-year financials yesterday, reporting declines in revenue and net profit over the past 18 months on slower ...

Cambodia’s first independent association for promoting intellectual property (IP) is seeking closer cooperation with government agencies to help the private sector better understand IP, its benefits and the importance of registering their products. ...

In order to further promote trade between India and Cambodia, Phnom Penh will host an Indian trade fair next month, the Commerce Ministry announced. Organized in collaboration between the Indian and Cambodian chambers of commerce, the event is intended to further develop ties between businesses in ...

Half of US businesses operating in Cambodia believe that political stability in the country is such that they are confident in expanding their operations, according to an annual report by the American Chamber of Commerce in Singapore and the US Chamber of Commerce’s International Affairs ...

South Korean financial giant Woori Bank, widely seen as the preferred bidder for a 50 per cent stake in Cambodian microlender Prasac, is out of the running as it was not presented to the central bank as an official bidder, local banking officials have said. ...