Economy and commerce

Garment and footwear industry, Cambodia’s largest income earner, reported a 12.6 percent rise in exports in the first seven months of 2014, according to the data of the Ministry of Commerce on Thursday. The country exported apparel and footwear products worth 3.47 billion U.S. dollars during ...

The Asia Pacific region’s largest travel trade show–PATA Travel Mart 2014–kicked off at Diamond Island here on Wednesday evening, aiming to promote tourism industry. The 3-day PATA (Pacific Asia Travel Association) Travel Mart 2014 brought together more than 1,000 delegates from over 60 countries and regions ...

Cambodian telecommunications company EMAXX signed a contract with China’s Huawei, a global ICT solutions provider, on Wednesday in order to develop EMAXX’s 4G network in Cambodia. The contract was inked between Ai Min, chief executive officer of EMAXX, and Weng Kefeng, deputy general manager of Huawei ...

The European Union will spend €3 million ($3.9 million) on a program to encourage small and medium enterprises to invest in Cambodia. Speaking at a conference yesterday in Phnom Penh, EU Ambassador to Cambodia Jean-Francois Cautain said the five-year grant – to be managed by EuroCham ...

Sri Lanka’s Lanka Orix Leasing Company acquired a 60 percent stake in Thaneakea Phum Cambodia (TPC) a microfinance company in Cambodia, for 20.3 million US dollars, identifying the immense potential in emerging economies of the South East Asian region the company said in a media ...

A China-invested Apsara International Air is going to launch flights in Cambodia later this month after it has received an air operator certificate from the Cambodia’s Civil Aviation, the company’s chief executive officer Zhang Xiaopeng said Monday. ...

The Cambodia Securities Exchange (CSX) last week made its long awaited move from the 25th floor of Phnom Penh’s Canadia Tower to its new home in a $4-million French colonial-era building on Street 106. The CSX officially moved into the two-story building on September 8, according ...

NagaCorp Ltd, the operator of the NagaWorld casino resort (pictured) in Phnom Penh, Cambodia, says it has commissioned “an independent professional party to review the internal controls of the company and its subsidiarieswith a focus on anti-money laundering”. The firm gives the information in its interim ...

Cambodian Prime Minister Hun Sen, accompanied by businesspeople and senior officials, flew to Nanning City of southwest China’s Guangxi province on Monday to attend the 11th ASEAN-China Expo. Senior officials accompanying the prime minister included Commerce Minister Sun Chanthol, Governor of the National Bank of Cambodia Chea ...

Plans to establish air links between Seychelles and the Asian nation of Cambodia are being finalised following the signing of a memorandum of understanding and air service agreement between the two sides. The signing by the Secretary of State of the State Secretariat of Civil Aviation of Cambodia, Mao Havannall, and ...

Local stock brokerage company Sonatra Securities has announced it will completely dilute its books and put a halt on all business activities from October 1. In a press release posted on Sonatra’s website last week, the firm stated without an explanation that it was suspending all ...

A group of investors from Israel showed their interest in investing in cassava in Cambodia, according to a statement by Ministry of Commerce. Chanthol expressed his support for this cassava investment project and recognized the importance of advance technology in agriculture production and processing to ...

A U.S. based agriculture consultancy firm has urged Cambodia rice exporters to focus on promoting their exports to the Chinese market as it has a huge untapped potential for more imports in the future, according to local sources. ...

An international construction and property exhibition kicked off here, in the capital city of Cambodia, on Wednesday as the country’s construction continued enjoying strong growth, officials said. Andrew Siow, chief executive officer of AMB Event-Cambodia, which organized the expo at the capital’s Diamond Island Exhibition Center, ...

Businesses registered in Cambodia have until the end of the month to pay their annual property tax to the country’s General Department of Taxation (GDT). According to the GDT, business owners must pay by September 30 to avoid being fined. ...

Malaysian company PMTI Energy (Cambodia) Co has signed a 10-year deal to supply Electricite du Cambodge with 48,000 megawatts of energy derived from rice husks every year. Phou Puy, president of PMTI, told the Post yesterday that about 70 per cent of the power generated from ...

Last month, Cambodia’s nascent yet rapidly expanding banking sector saw the new arrival of Phillip Bank through the acquisition of Hwang DBS Commercial Bank by Singapore’s Philip Capital in a $40 million deal. The number of banks in the country has more than doubled since 2005, ...

Cambodia had spent about 229 million U.S. dollars buying construction materials from foreign countries in the first six months of 2014, up 3 percent from 223 million U.S. dollars over the same period last year, a report of the Ministry of Commerce said Tuesday. ...

Cambodia currently has approximately 514,278 business establishments, up 11 percent compared with 463,363 in 2011, according to the results of the intercensal economic survey released Monday. ...

Phnom Penh Water Supply Authority (PPWSA) earnings recovered slightly during the second quarter of the year off the back of increased public water usage, officials said. In a filing to the Cambodia Stock Exchange last week, the PPWSA posted $2.7 million in profits for the second ...

The Council of Ministers on Friday approved a three-year $5.24 billion “public investment program”—a package of several hundred projects from 2015 to 2017 designed to help the government reach its goal of 7 percent annual growth or better. ...

The Comprehensive Strategic Partnership of Cooperation between Cambodia and China has been providing “more favourable conditions” for economic, trade and investment ties between the two countries, Cambodian Deputy Prime Minister and Cabinet Minister Sok An said on Sunday. ...

A proposed project hopes to channel the widespread use of mobile phones among factory workers to bring the voice of the 600,000 Cambodians employed in the crucial garment sector into future wage negotiations. The project, which would collect information about working hours, conditions, wages and expenses ...

Property prices in Phnom Penh’s prime residential locations increased by 13.7 per cent in the first half of 2014, while prime office development land prices increased by 7.6 per cent, according to Knight Frank Prime Asia Development Land Indices. Ross Wheble, the independent global property consultancy’s ...