Economy and commerce

Local publicly-listed Acleda Bank Plc has added support for KHQR code scanning for payments on its mobile app. ...

The Council for the Development of Cambodia (CDC) on October 22 announced that it has approved final registration certificates for seven new projects with capital investment of around $95 million, which could generate a reported 5,311 jobs. ...

Prime Minister Hun Sen says the government has set the stage for the recovery of Cambodia’s economy and a return to a “new normal” before the end of this year, following the successful double-vaccination of more than 85 percent of the population. He said the ...

The Cambodian Minister of Trade met with the Australian counterpart to discuss opportunities and ways in which trade and investment could be boosted in the country. ...

The Royal Government of Cambodia plans to issue the first $300 million worth sovereign bond to raise fund to finance public investment projects, aiming at boosting the country’s economic growth and productivity. ...

Facilitating investment flows to least developed and developing countries and creating favourable investment environments is necessary to support and accelerate economic recovery in the post-Covid-19 era, according to Council for the Development of Cambodia (CDC) secretary-general Sok Chenda Sophea on October 22. ...

Cambodia is set to launch soon, its Post COVID economic recovery plan, thanks to its high rate of vaccination which stood at 85.33 percent as of Friday, October 22. ...

The Cambodian government approved a draft budget bill of 32,576.9 trillion riels (approximately $8.013 billion) for its expenditure for 2022, with national revenue set at 23,462.6 trillion riels (approximately $5.771 billion). ...

South Korea’s KB Kookmin Bank, New York-listed KB Financial Group Inc’s (KB) commercial banking unit, on October 20 announced the completion of the acquisition the remaining 30 per cent interest in Prasac, Cambodia’s largest microfinance institution, as it expands its business into the Kingdom’s financial ...

Officials from the General Directorate of Consumer Protection, Competition and Fraud Repression (CCF) found 17 fuel businesses in four provinces conducting illegal business, while more than 1,000kg of defective goods and over 500 litres of counterfeit alcohol were confiscated and destroyed from October 18-20. ...

Construction of the $70 million two-phased Arakawa Residence affordable housing development in western Phnom Penh remains on track to be completed by mid-2022, developer Arakawa Co Ltd co-founder Ieng Sotheara told The Post on October 20. ...

The Cambodia-South Korea Free Trade Agreement (CKFTA) is set to be signed on October 26, ushering in a new chapter that will open up fresh avenues in trade and investment between the two Asian nations, according to a senior Ministry of Commerce official. ...

Cambodia has set a minimum capital requirement for new and existing casinos. ...

The Kingdom of Cambodia and the Republic of Korea will sign a draft free trade agreement (FTA) next week, as the two countries witness their bilateral trade amount on the rise. ...

Cambodia’s exports to Vietnam nearly quadrupled to $3.7 billion in the first nine months of this year, according to statistics from the General Department of Vietnam Customs. ...

In the first nine months of 2021, Cambodia exported 343,812 tons of fresh bananas, an increase of 46 percent compared to 2020. ...

U.S.-ASEAN Business Council (U.S.-ABC) is interested to invest in Cambodia in the fields of energy, industry, health, technology, finance and import-export. ...

The Asian Development Bank (ADB) has approved a $40 million loan to help Cambodia’s micro, small, and medium-sized enterprises (MSMEs) get easier access to credit. The money will also support government efforts to bring in reforms to boost financial stability and upgrade the financial sector ...

The Ministry of Industry, Science, Technology and Innovation approved a total of 124 new industrial investment projects between January and September this year, bringing a total active investment factory to 1,843. ...

The General Department of Taxation (GDT) collected some 8,549 billion Riel (approximately $2,111 million) as tax revenue in the first nine months of this year, representing 94.12 percent of the yearly plan. ...

The governor of the National Bank of Cambodia has called on the International Monetary Fund (IMF) to continue supporting ASEAN economies, especially as they recover from the Coronavirus pandemic. ...

Minister of the council of Ministers Bin Chhin has requested that Australia provide funding to the national side of the Extraordinary Chambers in the Court of Cambodia (ECCC). ...

Cambodia exported 5.93 million tonnes of agricultural products to 90 countries and territories in the first nine months of this year, the Ministry of Agriculture, Forestry and Fisheries reported on October 14. ...

The US remained the biggest market for Cambodia’s export products in 2021 despite the Covid-19 pandemic. Cambodia’s eight-month exports to the US increased sharply although some products were made without the Generalised System of Preference (GSP), which means tariffs would have been paid. ...