Economy and commerce

Over 1.5 million units of Cambodian bicycles have been exported to foreign markets as of the third quarter of this year, generating nearly $400 million, according to figures from the Ministry of Commerce. ...

The Small and Medium Enterprise (SME) Bank of Cambodia will commence banking operations today. The bank has a mission to provide financing and commercial banking services in an effective and sustainable manner to support local small and medium enterprises with an objective to increase economic ...

The Securities Exchange Commission of Cambodia (SECC) has responded to concerns that a lack of licensed auditors may be affecting listed companies’ ability to submit interim financial results in full and on time to the market regulator. ...

In 2015, the government set a target for 1 million tonnes of rice exports by 2020. It will miss it this year with an expected 800,000 tonnes and has reset it for next year. ...

Speaking at the Global SME Finance Forum 2020 on moving into the future, the role of digitalisation in promoting SMEs’ access to finance, Chea Serey, director-general of the National Bank of Cambodia (NBC), said SMEs are considered to be a crucial sector for the economy ...

Cambodia exported 209,819 tons of dry rubber in the first nine months of 2020, up 21 percent compared to the same period last year, said a General Directorate of Rubber report. ...

Cambodia has exported nearly 1 million tonnes of milled rice as of the third quarter of 2020, and the figure could reach 1.2 million tonnes in a near future. The record was revealed on Tuesday by the Cambodia Rice Federation, underlining that the export followed ...

The Kingdom’s new draft law on investment is scheduled to be finalised by the end of November this year. It will help to drive the economic recovery in the context of COVID-19, according to the Ministry of Economy and Finance (MEF). ...

Twenty leading Cambodian companies are set to participate in the third edition of the Indo-Pacific Business Forum (IPBF) on Wednesday to explore the potential business and investment opportunities that are available in the region. ...

On the basis that non-performing loans stood around 2.3 percent as of August 31, 2020, credit risk in the microfinance sector remains relatively low, said National Bank of Cambodia assistant governor and director-general Chea Serey. ...

The Cambodia Chamber of Commerce (CCC) and the Securities and Exchange Commission of Cambodia (SECC) on Tuesday called on local companies to list on the Cambodia Securities Exchange (CSX). ...

Strengthening the dynamics of micro, small, and medium enterprises (MSMEs) with innovation and internationalisation will be key to revitalising Southeast Asian economies devastated by Coronavirus, according to a new report from the Asian Development Bank (ADB). ...

The Royal Government of Cambodia, through the Council of Ministers, has approved a draft annual budget of approximately $7.62 billion for the year 2021. The approval was made during a cabinet meeting held last Friday, chaired by Prime Minister Hun Sen. ...

Relevant ministries and private sectors are joining up to form another tool, the  Small and Medium Enterprise Fund “SME fund” to promote local SMEs to help Cambodia overcome economic stagnation during the COVID-19 pandemic. ...

The Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC) is seeking to establish small and medium enterprise (SME) parks in each province across the country aiming at promoting local agricultural products processing. ...

The Council for the Development of Cambodia (CDC) has given the green light to four more investment projects with a total investment capital of $37.6 million. According to the council’s press release issued Friday, the projects newly approved are expected to create some 6,338 jobs ...

Having more free trade agreements with partner countries is a good deal for Cambodia that currently gets its biggest advantage from trade preferences under its Least Developed Country status. ...

Cambodia and the US have signed a memorandum of understanding (MoU) on patent cooperation, the move that will accelerate the bilateral trade between the two countries, according to the Ministry of Industry, Science, Technology and Innovation (MISTI). ...

The National Bank of Cambodia (NBC) has announced a $50 million auction this week to stabilise the local currency exchange rate in the market. The NBC has informed banks, microfinance institutions (MFIs) and licensed money exchangers that the minimum rate for auction will be announced ...

Cambodia Rice Federation (CRF) has claimed that the floods, which have had the biggest impact on the agriculture sector, will not hurt the country’s rice exports this year. ...

Flooding has created uncertainty over the Kingdom’s economic outlook this year, with various figures bandied about and thousands of households and paddies affected. ...

Flooding has caused delays in the transportation of goods for many days as national roads suffer damage, costing the country’s economy dearly because the government will have to spend more on repairs. ...

A senior executive officer of Cambodian rice-crackers manufacturer Lyly Food Industry Co Ltd has said the company will build a special economic zone (SEZ) in Preash Sihanouk province and plans to launch it next year. ...

The government is sending a new draft law on investment to the private sector to discuss ways to make it more comprehensive and help Cambodia become an attractive destination for new investment and to improve the investment environment in the country. ...