Economy and commerce

The Cambodia Securities Exchange (CSX)-listed Phnom Penh SEZ Plc (PPSP) has announced that it will have no dividend distribution this year and will also be buying back company shares (at an undisclosed volume and value), according to documents filed to the exchange. ...

Newly appointed Ambassador of Russia to Cambodia Anatoly Borovik has pledged to further boost the trade relations and investment between the two countries, which are currently at a low level.   ...

Labor Minister Ith Samheng yesterday asked the European Chamber of Commerce in Cambodia (EUROCHAM) president Tassilo Brinzer to help attract more investors to Cambodia. ...

The government’s tax collection remains strong even during the COVID-19 pandemic, reaching more than $2.25 billion in the first nine months of this year, according to a report by the General Department of Taxation (GDT). ...

China and Cambodia yesterday signed a free trade agreement (FTA) in Phnom Penh, with Cambodian Prime Minister Hun Sen and visiting Chinese State Councillor and Foreign Minister Wang Yi attending the signing ceremony. ...

“Within almost a four-month period as of October 2, 2020, we received a total of 1,793 applications, 1,367 of which have been approved and 426 of which are under review. The average number of days it takes to register a company is eight,” said Undersecretary ...

The Cabinet Meeting, held here this morning under the chairmanship of Prime Minister Hun Sen, approved the draft 3-Year Rolling Public Investment Programme 2021-2023.   ...

Cambodia exported 179,621 tonnes of rubber in the first nine months of 2020, a jump of 3.78 per cent from the same period last year, according to data from the Ministry of Agriculture, Forestry and Fisheries. ...

The National Bank of Cambodia (NBC) has made it clear that the whole microfinance industry should not be held accountable for some of the unregulated microloans that are pushing people deeper into debt. ...

The Australian Government joined the Securities and Exchange Commission of Cambodia (SECC) to launch the landmark Domestic Capital Mobilisation for Infrastructure Investment through the Security Market Project. ...

Chinese-owned Prince Culture and Development Co Ltd officially launched the $85 million Prince Manor entertainment centre in Kandal province on Wednesday. Prince Manor is located along National Road 1, 20km from the centre of Phnom Penh. It is the first major theme park project in ...

The Kingdom’s vehicles business has seen a drop in both sales and imports by an estimated 30 percent because of the impact of COVID-19. Figures from the Ministry of Economy and Finance (MEF) shows that the COVID-19 crisis has caused the country’s imports to fall ...

The National Assembly yesterday adopted the draft law on commercial gambling management to create more jobs and boost the economy. The draft law was adopted after it secured 114 votes out of the 117 parliamentarians present during the 5th session of the 6th National Assembly ...

The Royal Government will  stand by its forecast  that the economy will not  contract by more than -1.9 percent this year.  In addition, it has forecasted that  positive growth will return in 2021 with an estimated 3.5 percent. ...

The National Bank of Cambodia (NBC) is continuing to accept small denomination US banknotes ($1, $2 and $5) “free of charge” from financial institutions, despite the August 31 deadline it had set out in May. ...

The Cambodian government is working hard at becoming more  flexible to attract foreign  investments and boost external trade to keep pace with the ever changing  global trading environment. ...

The government is now drafting a policy on pepper with the intention of scaling up a competitive advantage, attract investors and boost added-value to Cambodian pepper production, according to a senior official at the Ministry of Commerce. ...

To support startups and small businesses across Cambodia, Impact Hub Phnom Penh is launching a new education programme for entrepreneurs with funding from Smart Axiata’s $1 million COVID-19 relief fund. ...

The decision by the Garment Manufacturers Association of Cambodia (GMAC) to file a lawsuit against the European Commission (EC) has reignited the ongoing struggle between Cambodia and the European Union (EU) to promote bilateral trade and uphold a political agenda. ...

Cambodia exported a total of 5.8 million tonnes of agricultural products to foreign markets during the first nine months of this year, despite the global COVID-19 crisis. ...

The World Bank has forecast a sharp contraction of negative two percent for the local economy this year, adding that Cambodia’s unfavourable growth outlook alongside disruptions to jobs and lower household incomes means poverty is likely to increase. ...

Data from Cambodia’s custom and excise department shows that from January to August this year, the total number of containers arriving and leaving the Sihanoukville Special Economic Zone (SSEZ) increased by 22.1% compared with the same period last year. ...

National Bank of Cambodia Governor Chea Chanto said Cambodia needs a strong national currency to strengthen its economic and financial resilience to underlying crises, as well as to support sustainable and inclusive socio-economic growth and development. ...

Techo Startup Centre (TSC), under the Ministry of Economy and Finance and the association of banks in Cambodia, yesterday signed a memorandum of understanding (MoU) on cooperation to promote financial technology systems in Cambodia. ...