Economy and commerce

Last year saw 7,860 new businesses register with the Ministry of Commerce, down 40.72 percent from 13,259 in 2019. At the same time, the ministry dissolved 500 businesses last year, marking a 187 percent increase from 174 in 2019. ...

The Ministry of Commerce’s Go4eCam e-commerce marketplace is expected to go online in July, according to Long Kemvichet, the deputy director general at the ministry’s General Department of International Trade. ...

Cambodian banks must integrate automated payment processing, according to Sabay Digital Corp’s co-founder Mike Gaertner. Its absence is a gaping hole in the Kingdom’s financial services. As a result, the Kingdom is notably left out of crucial consumer behaviour shaping the 21st century, including subscription ...

Cambodia ranked number 176 in the world in an index measuring the best places in the world to launch a tech startup, according to the first Draper Innovation Index (DII). ...

Investment capital firm Haystack Asia has acquired KhmerDev, an information technology company which was the first French-speaking IT service provider in Cambodia when it launched in 2001. ...

All 10 ASEAN member states have faced a sudden increase in unemployment in 2020 compared to the year previously as a consequence of the global pandemic, but Cambodia has the lowest unemployment rate in the bloc. ,,, ...

An official from the Ministry of Commerce said the Regional Comprehensive Economic Partnership Agreement (RCEP) will definitely open up opportunities for Cambodia. He was speaking in response to a report released by the United Nations Conference on Trade and Development (UNCTAD) citing potential serious negative ...

Speaking at the virtually held ASEAN Finance and Central Bank Deputies’ Meeting (AFCDM), Neav Chanthana, deputy governor of the National Bank of Cambodia (NBC), said that members are committed to pushing economic growth in the region despite the Coronavirus pandemic. ...

The Philippines’ PLDT Global Corp (PGC) unveiled a new partnership with Cambodia’s SINET, a registered trademark of SI Group Co Ltd, to broaden its regional footprint and supply technology solutions that help the local telecoms service provider’s customers stream more seamlessly. ...

Onion Mobility Co Ltd has unveiled a bunch of prototypes of its upcoming Onion T1 electric auto-rickshaw, to be produced domestically and put on sale within the year. The prototypes were flown in last week from South Korea and showcased publicly on March 28. ...

The government on March 26 approved five new investment projects worth about $1.3 billion and expected to absorb 2,250 workers, even amid a dramatic escalation in the ASEAN member’s fight against the spread of the Covid-19 disease. ...

Thirty-one Cambodian tariff lines – mostly agricultural products – now carry the zero rate to neighbouring Vietnam for 2021-2022, the Ministry of Commerce announced on March 25. ...

Minimal disruption to production chains and booming demand is sweet news for suppliers of geographical-indication- (GI) certified palm sugar. According to Saroeun, members can produce 250 tonnes of the commodity per season in December-May. He said KSPSPA’s 10 member companies exported a total of 70 ...

The price of Cambodian milled rice on the international market has seen a slight uptick in the first quarter of this year from end-2020. ...

Cambodia and Thailand agreed to reopen three regional border checkpoints in Battambang province on March 23 to facilitate trade. ...

South Korean-owned Phnom Penh Commercial Bank Plc (PPCBank) announced a first coupon payout to investors in its second bond despite unrest in the Cambodian economy fuelled by the spread of the Covid-19 pandemic. ...

The Council for the Development of Cambodia (CDC) has recently approved a 20-megawatt solar power plant project in Monorom commune, Svay Teap district, Svay Rieng province. ...

The Cambodian economy is not insulated from fears of inflation and the selloff of US bonds, according to a financial analyst. US Federal Reserve Chair Jerome Powell reaffirmed the US’ quantitative easing policy to spur a turnaround in the country’s economy. ...

Vietnam extended its 3,000-tonne duty-free quota for Cambodian dried tobacco leaves for 2021 to meet market demand, Ministry of Commerce spokesman Seang Thay confirmed to The Post on March 23. ...

Stock-listed industrial-park operator Phnom Penh SEZ Plc (PPSP) will acquire the remaining 40 per cent of construction company Sahas E&C Co Ltd’s (Sahas) shares from its joint venture (JV) partner LCH for $1,172,514.82 after approval from the Securities and Exchange Regulator of Cambodia (SERC) on ...

A 60MW solar power station in northern Battambang province was commissioned and connected to the national grid last week. The solar farm is located in southwestern Thma Koul district’s Anlong Run commune and is invested by Shenzhen-listed Risen Energy Co Ltd. ...

The much-anticipated Inclusive Business Enabling Environment for Cambodia (IbeeC) strategy will be adopted soon to meet the needs of 1.7 million poor and low-income Cambodians by 2023, a wide-ranging virtual meeting conducted by the Ministry of Industry, Science, Technology and Innovation heard on March 18. ...

The Cambodia Securities Exchange (CSX) approved in principle the listing eligibility of a privately-owned small and medium-sized enterprise (SME) on its Growth Board, CSX vice-chairman Ha Jong-weon told The Post on March 22. ...

Agriculture and Rural Development Bank of Cambodia (ARDB) expects to receive an additional $30 million from the government for special-purpose loans to keep the Kingdom’s smaller businesses afloat amid the ongoing economic duress of Covid-19, according to the state-owned bank’s director-general Kao Thach. ...