Economy and commerce

Prime Minister Hun Sen has asked China to import more agricultural products from Cambodia to boost bilateral trade and strengthen the relationship between the two countries. The prime minister wants to boost bilateral trade to $5 billion by 2017. ...

Prime Minister Hun Sen discussed the outstanding debt Cambodia owed to Russia on Wednesday, with the prime minister urging the debt be turned into investment and development in the country. ...

The National Bank of Cambodia (NBC) has doubled the minimum capital requirements for commercial banks and significantly raised the requirements for microfinance institutions in a move experts say will protect and consolidate the country’s banking sector.   ...

Cambodia’s small- and medium-sized enterprises (SMEs) earned $1.9 billion in revenue last year from the tourism sector, and could increase this amount further by reducing imports, an industry spokesman said yesterday.   ...

Despite a decline in the amount of exports, income from the fisheries sector rose almost 30 percent last year compared with 2014. ...

Sathapana Microfinance Plc, one of the largest in Cambodia, will officially transform itself into a commercial bank late next month, a move in line with Japanese-owned Maruhan Bank acquiring a 95.1 percent stake in 2012. ...

Amret Microfinance Institution, one of the largest in Cambodia’s crowded market, yesterday announced it had received an A- rating from independent rating agency Microfinanza, which is based in Italy, for improving its operation and for its strong performance over the past year. ...

The market for new cars in steadily increasing in the Kingdom, with more dealers and representatives setting up outlets, while the sale of used vehicles is also on the rise. ...

The National Bank of Cambodia (NBC) marked the 36th anniversary of its reintroduction of the national currency on Sunday, using the event to continue its calls to boost use of the riel in a highly dollarized economy. ...

Cambodians who live abroad should be taking advantage of opportunities to invest in the Kingdom, despite the fact that skilled labor remains a problem, an advisor to the government said Friday. ...

Prince Finance Plc is moving to support the efforts of the National Bank of Cambodia (NBC) to promote the use of the riel by using the domestic currency in all transactions, fees, loans and staff salaries, the microfinance institution’s managing director, Hon Sorachana, told a ...

One of Thailand’s leading agricultural groups and a major producer of animal feed will build a $30 million factory in the Phnom Penh Special Economic Zone, company officials announced last week. ...

When Chheung Rattana was married a few years ago, the only thing she and her new husband inherited from their families was a small plot of land to grow rice on. It was a tough start for the newlyweds, who decided that the only way ...

An India-based company is exploring investment opportunities in Cambodia’s real estate and hotel market and says it will invest $1 billion over five years. ...

Cambodia’s exports of crude palm oil have increased, though the price has declined in line with falling global prices, according to an official and a producer. ...

Thai executives are encouraging their government to build business centers in Cambodian provinces that border the country, as well as in its other ASEAN neighbors, according to Thai media reports. ...

The Kingdom exported 9,379.29 tons of sesame last year, according to a report from the Ministry of Agriculture, Forestry and Fisheries, with Vietnam buying the lion’s share. ...

Microfinance institutions (MFIs) have been expanding their financial services to include the use of mobile phones, a move aimed at boosting services for people in rural areas who find it difficult or expensive to travel to offices in towns or villages. ...

Malayan Banking Bhd (Maybank) is further strengthening its operations in Cambodia with the launch of Maybank Tower, a new 10-storey corporate office in the country. ...

Palm sugar from Kampong Speu, which has been registered for geographical indication (GI) status, is in the processing stage of being granted protected geographical indication (PGI) status in Thailand and Vietnam. This comes after Kampot pepper was recently certified as PGI in the European Union ...

New figures show that Cambodia’s sugar exports to the European Union fell by 94.8 per cent between 2013 and 2015, amid accusations of rights abuses and land grabbing in the Kingdom’s industry. ...

Prime Minister Hun Sen told a summit on micro-finance development yesterday that stricter rules needed to be applied to organizations and institutions lending money as many people were being cheated, embezzled and losing their collateral to unscrupulous lenders. ...

A campaign will be launched country-wide to educate the public about how to properly use financial services, a forum on microfinance in Phnom Penh was told yesterday. ...

Trade between Cambodia and Hong Kong is rising fast, expanding from about $1 billion in 2014 to $1.3 billion last year year, Veng Sothy, an Undersecretary of State at the Commerce Ministry, told a meeting in Siem Reap Friday. ...