Economy and commerce
Partnership to lift rice standards in Kingdom
The International Finance Corporation and Amru Rice, one of Cambodia’s biggest rice exporters, launched a new partnership yesterday to improve the competitiveness of the Kingdom’s rice sector, according to a press release. ...
Post Staff
http://www.phnompenhpost.com/business/partnership-lift-rice-standards-kingdom
Shaky outlook for black pepper
The rapid expansion of pepper cultivation in Cambodia coincides with the spice’s plummeting world prices, creating concerns that the glut of pepper ripening on vines across the Kingdom could further erode next season’s market prices and push the sector toward a collapse. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/shaky-outlook-black-pepper
Platform to unify online trading for CSX
A central online trading platform expected to launch by the end of the year will allow investors to trade securities listed on the local stock market using a desktop computer or smartphone. ...
Brian Ng
http://www.phnompenhpost.com/business/platform-unify-online-trading-csx
Equity fund takes stake in iCare
A Singapore-based private equity fund manager has acquired a significant minority stake in iCare Benefits (Cambodia) Co Ltd, an employee benefits programme offered to enterprises that operate in the Kingdom. ...
Kali Kotoski
http://www.phnompenhpost.com/business/equity-fund-takes-stake-icare
A roadmap for financial growth
The government yesterday unveiled its financial sector development strategy for 2016 to 2025, which provides stakeholders with a document to evaluate the last decade of growth while outlining an action plan for the next decade. Chea Serey, director-general of the NBC, said the content of ...
Hor Kimsay
http://www.phnompenhpost.com/business/roadmap-financial-growth
Local bond market on the horizon
The government is preparing legislation to regulate the establishment of a corporate bond market that would give local companies a new debt instrument to raise capital for their operations or expansion. ...
Brian Ng
http://www.phnompenhpost.com/business/local-bond-market-horizon
Economists assail opposition proposal to ditch US dollars
Economists on Tuesday lambasted the CNRP’s proposal to eliminate the use of U.S. dollars for transactions in the country within one year of a victory in next year’s national elections, saying the policy would be “a disaster” and “impossible.” ...
Brendan O’byrne
https://www.cambodiadaily.com/news/economists-assail-opposition-proposal-to-ditch-us-dollars-131307/
Naga CEO Lip Keong seeking majority stake
Nagacorp Ltd, the operator of Phnom Penh’s NagaWorld hotel and casino complex, announced that the company’s chief executive, Chen Lip Keong, has submitted a proposal to shareholders and the Hong Kong Stock Exchange that would allow him to divest his personal investment of $369 million ...
Post Staff
http://www.phnompenhpost.com/business/naga-ceo-lip-keong-seeking-majority-stake
Jet’s to expand night market
Following the popularity of Cambodia’s first-ever container night market, the company behind the project said it is investing an additional $500,000 to expand the open-air facility with an annex scheduled to open next month. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/jets-expand-night-market
Kingdom asks WTO to share trade information
Cambodian Minister of Commerce Pan Sorasak put forward a proposal last week requesting that the World Trade Organization (WTO) share information of bilateral and regional trade agreements with all its members to help smaller economies integrate into global trade markets. ...
Post Staff
http://www.phnompenhpost.com/business/kingdom-asks-wto-share-trade-information
Row over illegal livestock trade
The Agriculture Ministry has said it can’t control illegal imports of livestock from neighbouring countries, arguing customs officials must take responsibility for the issue. ...
Ros Chanveasna
http://www.khmertimeskh.com/news/39216/row-over-illegal-livestock-trade/
Not all paths to growth the same
Denis Hew, director of the policy support unit at the Asia-Pacific Economic Cooperation Secretariat said that Cambodia and Laos, in particular, should seek to chart a different course in Asean rather than following growth models of more developed economies, such as Malaysia or Thailand. ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/not-all-paths-growth-same
Seaport debuts on stock market
Shares in Sihanoukville Autonomous Port (PAS), the state-owned enterprise that operates Cambodia’s only deep-sea port, debuted on Cambodia’s stock exchange yesterday after an initial public offering that raised $27 million. ...
Brian Ng and Hor Kimsay
http://www.phnompenhpost.com/business/seaport-debuts-stock-market
IMF: Make youth a demographic dividend
The International Monetary Fund says Cambodia’s young population compared with other regional countries will be a driving force for financial development and contribute to the emerging finance technology sector, or Fintech. ...
May Kunmakara
http://www.khmertimeskh.com/news/39134/imf--make-youth-a-demographic-dividend/
Bank services VAT seen as ‘inefficient’
Banking sector leaders have expressed concern over a new government decree that places additional fees on financial services, warning that the costs of what some have described as an “impractical and inefficient” tax would likely be passed along to consumers. ...
Kali Kotoski and Hor Kimsay
http://www.phnompenhpost.com/business/bank-services-vat-seen-inefficient
Central bank to carry out on-site MFI audits
Cambodia’s central bank is to conduct on-site audits of microfinance institutions to check if they are complying with the interest rate cap that came into force more than two months ago, industry insiders have said. ...
May Kunmakara
http://www.khmertimeskh.com/news/39098/central-bank-to-carry-out-on-site-mfi-audits/
Acleda Bank reports $28M net profit in Q1
Aceleda Bank, Cambodia’s largest bank by assets, reported a net profit of $28.39 million in first quarter this year, down slightly from $30.19 million in the same period in 2016, according to the bank’s latest financial report. ...
The Phnom Penh Post Staff
http://www.phnompenhpost.com/business/acleda-bank-reports-28m-net-profit-q1
Western policies may slow growth
Long-term growth prospects for developing economies, including Cambodia, will continue to be undermined by a lack of investment as well as the risk of increased protectionist policies by the United States, which could hamper the growth of commodity-driven economies, according to a new report released ...
Kali Kotoski
http://www.phnompenhpost.com/business/western-policies-may-slow-growth
Business outlook still positive
Bun Mony, advisor to the Cambodian Microfinance Association (CMA) noted that though the interest rate cap could lower revenue and cut profit margins in the sector, overall neither the election nor the cap would have a lasting impact for the industry. ...
Hor Kimsay and Cheng Sokhorng
http://www.phnompenhpost.com/business/business-outlook-still-positive
Home loans fast gaining traction
Acleda Bank has provided $40 million to customers in the form of housing loans since the start of 2017, marking a growing trend of home loans being taken out across the country. ...
Siv Meng
http://www.phnompenhpost.com/post-property/home-loans-fast-gaining-traction
Korean chain Lotteria opens fifth local branch
South Korean food chain Lotteria, operated locally by Yinkok Food Corp, has expanded in Phnom Penh with its fifth branch opening in Dem Tkov market, according to a local media report yesterday. ...
The Phnom Penh Post Staff
http://www.phnompenhpost.com/business/korean-chain-lotteria-opens-fifth-local-branch
Investor interest still strong, says report
Cambodia is one of the emerging nations that attracts foreign investors in the real estate sector, thanks to its growth and good performance, according to a recent report from PropertyGuru. ...
Sum Manet
http://www.khmertimeskh.com/news/38915/investor-interest-still-strong--says-report/
Bank South Pacific expands into Asia
The Papua New Guinea-based Bank South Pacific has announced its expansion into Asia with its first Cambodian branch. ...
May Kunmakara
http://www.khmertimeskh.com/news/38839/bank-south-pacific-expands-into-asia/
Mizuho opens Phnom Penh branch
Mizuho Bank, one of largest banks in Japan, has started operations in Cambodia with its first branch in Phnom Penh. ...
Chea Vannak
http://www.khmertimeskh.com/news/38837/mizuho-opens-phnom-penh-branch/