Economy and commerce

Though it’s extremely early days, experts this week welcomed Cambodia’s membership to the nascent China-led Asian Infrastructure Investment Bank (AIIB), saying it would provide much-needed diversity of funding for the nation’s infrastructure and connectivity needs. ...

Rising incomes are driving the growth of new and used car sales in the Kingdom, putting pressure on the Kingdom’s limited road infrastructure, an industry specialist said yesterday. ...

Some of the country’s top business leaders laid out their main concerns with a controversial draft union law during a meeting with CPP lawmakers on Monday, including a stipulation that would let only 10 people form a union at a workplace. ...

Commercial arbitration is a swifter, less expensive and more confidential way to settle business disputes than going through the courts, and the expansion of the service here will make the investment environment more attractive, Van Sou Ieng, president of the Cambodian Federation of Employers and ...

France’s BRED Bank, one of the largest lenders in Europe, plans to open its first branch in Cambodia by the end of the year as it expands its network in ASEAN, its CEO said, adding that it aims to assist  small and medium-sized enterprises (SMEs) ...

The National Bank of Cambodia (NBC) is requiring financial institutions to gradually phase in a higher liquidity coverage ratio (LCR) to ensure sustainable growth in the industry and avoid crises.  ...

Cambodian cassava farmers are facing dropping prices in the agro commodity this season, as the lack of a domestic market and dependence on exports, which faces competition from neighbouring countries, has led them to call for government intervention. ...

Five years after setting out an ambitious 1 million-tonne milled rice export target, the rice sector fell well short of the mark last year, exporting close to 550,000 tonnes, with industry experts cautiously optimistic over export increases in 2016. ...

A $300 million sugarcane processing factory will begin producing sugar in Preah Vihear province next month and it is being described as the world’s largest such factory, according to reports in local media. ...

Cambodia’s two international ports – the Phnom Penh Autonomous Port (PPAP) and Sihanoukville Autonomous Port (SAP) – yesterday reported increases in container traffic last year, with the latter looking to go public this year in a bid to fund an expansion plan. ...

Russian authorities have temporarily detained a cargo ship flying the Cambodian flag near Crimea in the Black Sea on January 3, a spokesman for Russia’s Federal Security Service (FSB) said yesterday. ...

True Money, a new entrant to Cambodia’s growing mobile money-transfer market, said yesterday it will start operations across the Kingdom from January 1, with the first phase focusing only on local transfers, according to a company official.The money-transfer service, which comes under the Thailand-based Charoen ...

With the ASEAN Economic Community (AEC) expected to intensify business competition across the region, Thailand’s biggest industrial conglomerate expects to rise to the challenge under a new leader.Kan Trakulhoon is retiring as president and chief executive of Siam Cement Group (SCG) after a decade at ...

Several new trade pacts will help Vietnam attract more foreign investors next year as the country will become more open and better connected to some of the world’s largest markets, economists say. ...

The European Union will continue to remain Cambodia’s biggest export recipient, mopping up $2.32 billion in shipments this year, with the US following a close second at $2.07 billion, according to Commerce Ministry estimates. ...

Listed hire-purchase company Thitikorn plans to open two branches in Cambodia next year, after being in the market for one year and finding huge opportunity and high demand for motorcycle lending there, managing director Prathama Phornprapha said yesterday. ...

Shinhan Bank announced on Dec. 23 that it has opened a new branch in Steng Min Chey, an emerging developing area in Phnom Penh, in order for Shinhan Khmer Bank, a subsidiary of Shinhan Bank in Cambodia, to accelerate its business in the country. ...

Share prices of Phnom Penh Autonomous Port (PPAP), Cambodia’s second-largest port, have been rising steadily since their December 9 debut, while the volume of shares changing hand has been heavier compared to the two other companies listed on the Cambodia Securities Exchanges (CSX), officials say.  ...

Cambodia’s first listed company, the Phnom Penh Water Supply Authority, yesterday reported a 41 per cent drop in profits after tax for the quarter ending September 30, with the company attributing the drop to an increase in expenses incurred over the quarter. ...

SK Hynix announced on Dec. 21 that its employees, who were taking part in the overseas training program for outstanding employees, did volunteer work for the underprivileged in Cambodia. ...

Chinese Ambassador Bu Jiangua re-affirmed China’s commitment to the “One Belt, One Road Initiative” yesterday at a symposium in the capital.  ...

Muang Thai Life Assurance (MTL) is planning to expand to the Cambodian market early next year, according to a report in the Bangkok Post. ...

SET-listed Siam Cement Group (SCG) will spend US$200 million to expand its investment in Cambodia from 2016-20.The focus will be on the cement and building materials sectors, which have strong potential to grow amid the Cambodian government’s policy of revving up infrastructure projects, said Kan ...

The National Bank of Cambodia (NBC), or Central Bank, has issued ASEAN Commemorative Coins to mark the establishment of the ASEAN Community on December 31, according to its statement on Friday. ...