Economy and commerce

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. ...

In the past years, Vietnamese products had been exported most to Cambodia among countries in the ASEAN but recently they have faced cutthroat competition from the same kinds of products in Cambodia. ...

Economic growth in developing East Asian countries is expected to ease in the next two years as the slowdown in China and sluggish pricing for commodities linger, according to new forecast released Sunday by the World Bank.   ...

The World Bank on Monday said it still predicted strong growth from the Cambodian economy—led by garment exports—and only a moderate cooling over the next few years despite a “faster than expected” slowdown in China, Cambodia’s biggest foreign investor.   ...

A driver’s assistant has been arrested for smuggling 18 turtles hidden in mattress covers in a truck from Thailand on Saturday in Kampong Chhnang’s Toul Kralanh village, according to officials. ...

Sustainability Finance Real Economies SICAV – SIF (SFRE, pronounced Sapphire) has made an investment totalling USD 4 million in PRASAC (Cambodia) a microfinance institution, in line with its strategy of advancing social, environmental and economic development by providing capital to banks. ...

The International Finance Corporation (IFC) signed a memorandum of understanding with the Securities and Exchange Commission of Cambodia (SECC) on Thursday to develop a roadmap for strengthening the country’s corporate governance policies and practices. ...

China’s Prince Real Estate plans to invest $250-$300 million in a new project on Norodom Blvd. The new project will begin after the completion of the current condominium project which began last year and is due to be finished in 2018. Li Min, president of Prince Real ...

Cambodia’s securities regulator signed a memorandum of understanding with the International Finance Corporation (IFC) yesterday for technical assistance on corporate governance standards and practices in the Cambodian capital market. ...

Aceleda Bank was the only Cambodian bank to make The Banker’s Top 100 ASEAN Banks 2016 list, and saw the largest jump up the rankings among all entries, securing the 88th position on the financial publication’s annual list, up from 97th last year. ...

Export credit insurance is still taking off in Cambodia, but more companies are beginning to take advantage of it, a senior executive from Forte Insurance Company said yesterday.​ ...