Economy and commerce
Fresh sand controversy
Cambodia exported more than 108,000 tonnes of sand to India in 36 separate shipments between 2013 and 2015, according to Indian customs data obtained yesterday, contradicting Cambodian customs data that show no sand being sent there at all. ...
Alex Willemyns and Mech Dara
http://www.phnompenhpost.com/national/fresh-sand-controversy
8 billion riel released
The National Bank of Cambodia (NBC) on Tuesday released eight billion riel (about $2 million) at three percent interest to just one financial institution that joined the third bidding of the new Liquidity-Provided Collateralized Operation (LPCO). ...
Sok Chan
http://www.khmertimeskh.com/news/33442/8-billion-riel-released/
Accounting platform seeks funds
The developer of Banhji, a locally developed accounting platform aimed at small- and medium-size enterprises (SMEs), is in talks with investors to secure funding as part of a plan to expand the application beyond Cambodia. Officially launched in October after a four-month beta testing period, ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/accounting-platform-seeks-funds
Rice export firms get go ahead
Eighteen local rice export companies are now eligible to carry out milled rice exports to China starting from next month, according to an announcement released on Monday by the Cambodia Rice Federation (CRF). The announcement added that the CRF and the Green Trade Company – under ...
Sok Chan
http://www.khmertimeskh.com/news/33377/rice-export-firms-get-go-ahead/
Government urged to hasten amendment of investment laws
The government should speed up amendments to its investment laws ahead of two major business conferences set for next year when visiting foreign investors will get first-hand knowledge of the economy, the head of a local business association said yesterday. ...
Kali Kotoski
http://www.phnompenhpost.com/business/government-urged-hasten-amendment-investment-laws
Chinese firm snaps up $49.2M in local assets
Shanghai-listed Guangzhou Yuetai Group will purchase $49.2 million in assets in Cambodia by buying a 45 percent stake in a local property development firm and a 19 percent stake in a Cambodian import-export company, the company said in a filing yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/chinese-firm-snaps-492m-local-assets
Cooperation agreement with China
The Cambodia Chamber of Commerce (CCC) and China Foreign Trade Center on Tuesday signed a cooperation agreement with the aim of exchanging business and investment information between the two countries. CCC director-general Nguon Meng Tech told Khmer Times yesterday after the agreement signing that both sides ...
May Kunmakara
http://www.khmertimeskh.com/news/33162/cooperation-agreement-with-china/
Agreement to increase cross-border vehicle limit
Cambodia and Thailand will sign a memorandum of understanding on Friday to increase the quota of buses and trucks permitted to cross the border between the two countries, a transport official said yesterday. ...
Hor Kimsay
http://www.phnompenhpost.com/business/agreement-increase-cross-border-vehicle-limit
WB: Cambodians still vulnerable
While the World Bank commended Cambodia for its strong economic growth and efforts to reduce poverty over the past two decades, it, however, cautioned yesterday that the agriculture and garment sectors posed challenges which could make that growth unsustainable. “An overview of the past two decades, ...
Chea Vannak
http://www.khmertimeskh.com/news/33166/wb--cambodians-still-vulnerable/
Workers get salaries winged
More than 900,000 garment and footwear workers can now get their salaries through Wing (Cambodia) Limited Specialized Bank after a memorandum of understanding (MoU) was signed yesterday between the Garment Manufacturers Association in Cambodia (GMAC) and the Kingdom’s leading mobile banking services provider. ...
Sok Chan
http://www.khmertimeskh.com/news/33163/workers-get-salaries-winged/
Chamber of commerce expands
A new sub-decree to allow the Cambodia Chamber of Commerce to represent the business sector overseas, will come into force next year after Prime Minister Hun Sen signs the draft into law soon, according to a Commerce Ministry official. Soeng Sophary, the ministry’s spokesperson, said the ...
Sok Chan
http://www.khmertimeskh.com/news/33044/chamber-of-commerce-expands/
$30B casino, theme park project mooted
MQ Technology Bhd, a Malaysian investment holding company, is looking to form a joint venture with a newly formed entity, Cambodian Resorts and Entertainment Co Ltd, to build a $30 million casino and theme park in Prey Veng province near the Vietnamese border, according to ...
Kali Kotoski
http://www.phnompenhpost.com/business/30b-casino-theme-park-project-mooted
Kolao revs up its investment
Kolao Group, a South Korean-owned automaker and distributor, plans to build factories in a proposed industrial park in Cambodia to assemble its proprietary line of automobiles and motorcycles, a company executive said yesterday. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/kolao-revs-its-investment
Revenue rises in Q3 at capital’s water firm
The capital’s listed water utility posted higher revenue against lower earnings during the third quarter of the year in a filing to the Cambodian stock exchange yesterday. Phnom Penh Water Supply Authority (PPWSA) saw its revenue rise by $1 million, or 8 percent, year-on-year to $13.9 ...
Post Staff
http://www.phnompenhpost.com/business/revenue-rises-q3-capitals-water-firm
PM warns workers over protests
Prime Minister Hun Sen warned potential protesters during a speech in front of hundreds of garment workers yesterday, telling the crowd that while it was his duty to make sure investors came and stayed in the country, they had to stop protesting to keep the ...
Mom Kunthear
http://www.khmertimeskh.com/news/32956/pm-warns-workers-over-protests/
China okays Cambodia rice
Cambodian milled rice has passed quality and food hygiene tests for export to China. A delegation of Chinese experts inspected the quality and safety at 27 rice mills during a week-long visit, said Hean Vanhan, director-general of the agriculture department at the Agriculture Ministry. The result of ...
Chea Vannak
http://www.khmertimeskh.com/news/32940/china-okays-cambodia-rice/
Minebea opens third plant
Minebea, the largest Japanese company in Cambodia, officially opened a third manufacturing plant in the Phnom Penh Special Economic Zone yesterday to coincide with the fifth anniversary of its presence in the country. Yoshihisa Kainuma, president and CEO of Mineba (Cambodia), told reporters at the ...
Sok Chan
http://www.khmertimeskh.com/news/32942/minebea-opens-third-plant/
Chinese firm mulls energy sector prospects
A leading Chinese manufacturer of power transmission and distribution equipment recently visited Cambodia to explore opportunities in the Kingdom’s rapidly growing energy sector, including a proposal for a factory to produce equipment for the electricity sector. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/chinese-firm-mulls-energy-sector-prospects
NBC issues prakas for riel loans
The National Bank of Cambodia (NBC) issued a prakas, or directive, last week instructing commercial banks and microfinance institutions to make out more riel loans to their customers, in a bid to promote the use of the national currency. The prakas, which took effect on Thursday, ...
Sok Chan
http://www.khmertimeskh.com/news/32828/nbc-issues-prakas-for-riel-loans/
China to align Asean policy with Cambodia
China is considering setting up an industrial zone in Cambodia and says it will announce new areas of cooperation with Asean nations in line with Cambodia’s industrial development policy. The issues were discussed on Saturday when Commerce Minister Pan Sorasak met Xu Ningning, executive president of ...
Sum Manet
http://www.khmertimeskh.com/news/32729/china-to-align-asean-policy-with-cambodia/
Chinese firm eyes steel mill
One of China’s largest steelmakers is seeking partners in Cambodia to build a steel mill that will reduce the Kingdom’s dependency on imported steel for its construction sector, a company executive said. Weng Wei Min, director of the economic cooperation department at Hangzhou Iron and ...
Cam McGrath and Joey Chua Xue Ting
http://www.phnompenhpost.com/business/chinese-firm-eyes-steel-mill
Better infrastructure needed for trade: study
Cambodian goods benefit from the lowest export tariff rates in the world but the Kingdom’s trade is still held back by lengthy bureaucratic procedures and corruption, according to a new study by the World Economic Forum (WEF). The Global Enabling Trade Report 2016, a study published ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/better-infrastructure-needed-trade-study
Longer visas for Chinese, Koreans
The government will offer three-year, multiple-entry visas to Chinese and South Korean investors in an effort to make doing business easier and increase investment in the Kingdom, the premier said during the first Cambodia-China Business and Financial Development Forum in Phnom Penh yesterday. ...
Sok Chan
http://www.khmertimeskh.com/news/32699/longer-visas-for-chinese--koreans/
Red carpet for Chinese investors
The high-profile investment conference, held under the tagline “Cambodia: The Kingdom of Opportunity Along The ‘One Belt, One Road”, saw representatives of more than 200 Chinese companies gather at a hotel conference centre on the outskirts of the capital. The full-day event was jointly organised ...
Joey Chua Xue Ting and Cheng Sokhorng
http://www.phnompenhpost.com/business/red-carpet-chinese-investors