Economy and commerce
Coronavirus brings trouble to Cambodia’s garment industry
Hundreds of garment factories in Cambodia and elsewhere in Asia are facing serious financial problems because clothing brands have either canceled their orders or stopped placing new ones over the past several weeks. ...
Khmer Times Staff
https://www.khmertimeskh.com/50718817/coronavirus-brings-trouble-to-cambodias-garment-industry/
Lemongrass from Cambodia to the pots of the world
The update was provided by Veng Sakhon, Minister of Agriculture, Forestry and Fisheries, who said that Cambodia can now export its lemongrass. ...
Khmer Times Staff
https://www.khmertimeskh.com/50718292/lemongrass-from-cambodia-to-the-pots-of-the-world/
Leasing Industry registers 63 percent surge in 2019
The Central Bank has reported that the total value in the leasing industry was recorded at 1,169 billion KHR ($287million), an increase of about 63 percent in 2019 compared with the year before. ...
Sok Chan
https://www.khmertimeskh.com/50718028/leasing-industry-registers-63-percent-surge-in-2019/
Real estate boosted last year but likely to suffer this year
The inflow of foreign direct investment (FDI) into the real estate sector in Cambodia was estimated at more than $437.3 million in 2019, according to data from the just-issued National Bank of Cambodia’s (NBC) Annual Banking Supervision Report 2019. ...
Sok Chan
https://www.khmertimeskh.com/50718100/real-estate-boosted-last-year-but-likely-to-suffer-this-year/
Free-trade talks continue despite the pandemic
Cambodia is closer to inking trade deals with developed economies despite the ongoing COVID-19 pandemic. Seang Thay, a spokesperson at the Ministry of Commerce, told Khmer Times yesterday that the free-trade agreement (FTA) negotiations between Cambodia, South Korea, China and ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50717809/free-trade-talks-continue-despite-the-pandemic/
Cambodia welcomes sisal into crop portfolio
Cambodia will soon start cultivating sisal, an agave plant native to southern Mexico which produces a strong fibre, after China Great Cause (Cambodia) Investment Co Ltd received an economic land concession in Preah Vihear province to build a processing plant. ...
Hin Pisei
https://www.phnompenhpost.com/business/cambodia-welcomes-sisal-crop-portfolio
Government makes push for organic veggies
The government introduced an organic agriculture policy to boost production and export, according to a prakas from the Ministry of Agriculture, Forestry and Fisheries on Sunday. ...
Thou Vireak
https://www.phnompenhpost.com/business/government-makes-push-organic-veggies
Cambodia’s exports to Thailand soar 115 percent
Cambodia’s exports to Thailand skyrocketed in the first three months of this year, although the two countries have faced strict movement of cross-border trade because of the deadly COVID-19 pandemic. ...
Chea Vannak
https://www.khmertimeskh.com/50717339/cambodias-exports-to-thailand-soar-115-percent/
SMEs urged to register with the new specialised bank
The president of the Federation of Association of Small and Medium Enterprises of Cambodia (Fasmec) is urging small and medium-sized enterprises (SMEs) to register with the association to get benefits from the newly formed SMEs Bank of Cambodia. ...
Sorn Sarath
https://www.khmertimeskh.com/50717402/smes-urged-to-register-with-the-new-specialised-bank/
New NBC guidelines on financial institutions
The National Bank of Cambodia (NBC) has requested financial institutions to reduce credit-related fees and lift fines until the end of December 2020, according to a letter it wrote. ...
Sok Chan
https://www.khmertimeskh.com/50717330/new-nbc-guidelines-on-financial-institutions/
Kingdom’s neighbours may start to ease restrictions
Cambodia’s bellwether neighbours – Thailand and Vietnam – have started to propose easing extreme COVID-19 restrictions that have devastated local economies and greatly affected civil society because of ultra-low rates of new infections and no new deaths last week. ...
Harrison White
https://www.khmertimeskh.com/50717221/kingdoms-neighbours-may-start-to-ease-restrictions/
ARDB loans: More SMEs apply
Seven small and medium-sized enterprises (SMEs) have applied for $200,000 loans from the state-owned Agricultural and Rural Development Bank (ARDB), after it announced the launch of a $50 million fund for SMEs last month. ...
Thou Vireak
https://www.phnompenhpost.com/business/ardb-loans-more-smes-apply
New factories employe nearly 28k
The Ministry of Industry, Science, Technology and Innovation (MISTI) has reported that 77 new factories opened in Cambodia in the first three months of 2020, employing a total of 27,909 workers. ...
Sok Chan
https://www.khmertimeskh.com/50716520/new-factories-employe-nearly-28k/
‘SME Development Policy’ drafted for approval
A draft development policy for Small and Medium Enterprise (SME) and a new SME definition has been sent to the Ministry of Economy and Finance’s Economic and Financial Policy Committee (EFPC) for review and approval, according to a senior official. ...
Sok Chan
https://www.khmertimeskh.com/50716393/sme-development-policy-drafted-for-approval/
Gov’t disburses $50 million through Agricultural and Rural Development Bank
The government has disbursed $50 million through the Rural Development and Agriculture Bank (RDAB) to provide low-interest loan to small farmers and small and medium enterprises. ...
Srey Kumneth
https://www.khmertimeskh.com/50716279/govt-disburses-50-million-through-agricultural-and-rural-development-bank/
PPCBank raises $10M, lists first corporate bond on CSX
South Korea-owned Phnom Penh Commercial Bank Plc (PPCBank) on Tuesday officially listed its first corporate bond on the Cambodia Securities Exchange (CSX). ...
May Kunmakara
https://www.phnompenhpost.com/business/ppcbank-raises-10m-lists-first-corporate-bond-csx
Cambodia continues to attract FDI with another $21 million in investments and 3,500 jobs
The Council for the Development of Cambodia (CDC) has given the approval for five new investment projects with a total investment capital of $21.3 million. ...
Khmer Times Staff
https://www.khmertimeskh.com/50715348/cambodia-continues-to-attract-fdi-with-another-21-million-in-investments-and-3500-jobs/
Four more investment projects approved by CDC
The Council for the Development of Cambodia (CDC) has approved four more investment projects, expecting to create almost 1,500 jobs for the locals. ...
Khmer Times Staff
https://www.khmertimeskh.com/50715646/four-more-investment-projects-approved-by-cdc/
Agriculture to be a key pillar for economy
NBC’s Director-General has said that agriculture could potentially contribute to Cambodia’s economic growth as the workforce in the sector continues to increase while productivity remains high. ...
Sok Chan
https://www.khmertimeskh.com/50715090/agriculture-to-be-a-key-pillar-for-economy/
Three-month tax exemption for hotels, guesthouses
The government has given a three-month tax exemption to hotels, guesthouses, restaurants and travel agencies in Phnom Penh and several provinces as the industry feels the pinch over the coronavirus pandemic. ...
Pech Sotheary
https://www.khmertimeskh.com/50715189/three-month-tax-exemption-for-hotels-guesthouses/
Migrants’ home remittances dwindle
As the Coronavirus pandemic hits jobs and wages in many sectors of the global economy, a slowdown in the amount of money sent home by migrant workers looks increasingly likely, according to a report by World Economic Forum (WEF). ...
Sorn Sarath
https://www.khmertimeskh.com/50715088/migrants-home-remittances-dwindle/
MFIs respond to affected customers
Microfinance institutions (MFIs) have taken some actions to restructure their loans for affected customers because of the COVID-19 pandemic, according to the Cambodia Microfinance Association (CMA). ...
Sok Chan
https://www.khmertimeskh.com/50714667/mfis-respond-to-affected-customers/
IMF sees Cambodia registering a combined GDP growth of one percent this year and to expand to 8.5 percent in 2021
The International Monetary Fund (IMF)said that the outlook for some Asia Pacific countries were much brighter, including Cambodia which is forecasted to have a nominal combined GDP projected growth of 1.0 percent this year before surging 8.5 percent next year. ...
Khmer Times Staff
https://www.khmertimeskh.com/50714379/imf-sees-cambodia-registering-a-combined-gdp-growth-of-one-percent-this-year-and-to-expand-to-8-5-percent-in-2021/
CDC okays five projects to create 6,373 jobs
The Council for the Development of Cambodia (CDC) issued final registration certificates to five investment projects between April 13-17 worth more than $24 million and which are expected to generate 6,373 jobs. ...
Hin Pisei
https://www.phnompenhpost.com/business/cdc-okays-five-projects-create-6373-jobs