Economy and commerce
Cambodia, China sign new MoU on money laundering
Cambodia and China last week signed an agreement to exchange financial intelligence to combat money laundering and terrorism financing, though experts said the Kingdom should still be doing more to tackle an issue that has long persisted in the country, in part, due to local ...
Yesenia Amaro
http://www.phnompenhpost.com/national/cambodia-china-sign-new-mou-money-laundering
Bird’s nest export plan ready to fly
Cambodia is looking to secure its first commercial contract for the export of swiftlet nests to China, but must first demonstrate compliance with the Asian giant’s hygiene protocols, a government official has said. Hean Vanhan, undersecretary of state at the Ministry of Agriculture, said swiftlet nests, ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/birds-nest-export-plan-ready-fly
Canada wants trade pact
Canada is keen to sign an investment protection agreement with Cambodia to boost trade between both countries following the visit of Canadian Foreign Minister Stephane Dion to the Kingdom last Friday. ...
Sum Manet
http://www.khmertimeskh.com/news/29361/canada-wants-trade-pact/
Skepticism on liquidity providers
Almost two weeks after the Cambodia Securities Exchange (CSX) announced that it was accepting applications for the newly approved liquidity providers (LPs) option, it admitted yesterday that no one had yet applied, as insiders said they were still unsure of the program. ...
May Kunmakara
http://www.khmertimeskh.com/news/29363/skepticism-on-liquidity-providers/
Thais to facilitate blocked maize exports
A month after Thailand blocked agricultural products from Cambodia over improperly stamped and signed certification documents, the Thai ambassador on Friday pledged to seek a solution for Cambodia’s maize exports. Commerce Minister Pan Sorasak said on Saturday that Cambodian authorities are doing their utmost to solve ...
Chea Vannak
http://www.khmertimeskh.com/news/29311/thais-to-facilitate-blocked-maize-exports/
SMEs in anti-graft partnership
The Federation of Associations of Small and Medium Enterprises of Cambodia (FASMAC) has sought support from the anti-corruption organization Transparency International, to prepare it to be a graft-free business entity and help its members to be listed on the Cambodia Stock Exchange (CSX). ...
Chea Vannak
http://www.khmertimeskh.com/news/29307/smes-in-anti-graft-partnership/
Junket investor’s profit falls but sticking to its Cambodia bets
Jimei International Entertainment Group, a Hong Kong-listed casino junket investor that promotes at least seven gaming tables in NagaWorld casino in Phnom Penh, reported a steep decline in profit during the first half of 2016 despite increased turnover. ...
Cam McGrath
http://www.phnompenhpost.com/business/junket-investors-profit-falls-sticking-its-cambodia-bets
Credit growth starts to cool off
New data released by Cambodia’s independent credit reporting agency indicate a significant slowdown in the rate of lending during the second quarter of the year, a sign that banking industry experts claim is due to a tightening of lending criteria and less demand from the ...
Kali Kotoski
http://www.phnompenhpost.com/business/credit-growth-starts-cool
Canadian bank soars after ABA investment
National Bank of Canada attributed its 5.5 per cent jump in fiscal third-quarter profit to its acquisition of Cambodia’s Advanced Bank of Asia Ltd. (ABA Bank) earlier this year. ...
Post Staff
http://www.phnompenhpost.com/business/canadian-bank-soars-after-aba-investment
Indian mining firm prepares to dig deep in Ratanakiri
The Ministry of Mines and Energy is set to issue the country’s first commercial underground mining license to Indian company Mesco Gold in two weeks, despite opposition by residents of two villages concerned about compensation and environmental damage. The company plans to break ground on its ...
Aisha Down and Kang Sothear
https://www.cambodiadaily.com/news/indian-mining-firm-prepares-dig-deep-ratanakkiri-117474/
Key to cracking Thai consumer market: unique products
Cambodia should seek to enlarge its market share of the Thai consumer market by focusing on the export of unique items, a visiting Thai trade promoter said during a workshop in Phnom Penh yesterday. ...
Hor Kimsay
http://www.phnompenhpost.com/business/key-cracking-thai-consumer-market-unique-products
Minister discusses regional EU trade deal
Minister of Commerce Pan Sorasak held a meeting with representatives of the European Union this week to discuss the formulation of a new trade program to be supported by the EU, the Ministry of Commerce announced yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/minister-discusses-regional-eu-trade-deal
Banks covering their assets
Cambodian financial institutions surveyed yesterday said they were in compliance with the central bank’s revised liquidity coverage ratio (LCR) requirements as the deadline passed to increase their cash and highly liquid assets to weather any internal or external shocks. ...
Kali Kotoski
http://www.phnompenhpost.com/business/banks-covering-their-assets
FDI inflow seen as driving economic development
A modest increase in the inflow of foreign direct investment is a sign that Cambodia remains an attractive destination to investors, and will go a long way toward the country’s development, analysts said yesterday. Total capital inflow of foreign direct investment (FDI) to Cambodia amounted to ...
Hor Kimsay
http://www.phnompenhpost.com/business/fdi-inflow-seen-driving-economic-development
Private firm takes over responsibility for work permits
The Ministry of Labor passed all responsibility for foreign work permits today to E-Solutions (Cambodia) Co., leaving a multitude of unanswered questions about the private company that will process, produce and distribute the permits online. Ministry spokesman Heng Sour declined to answer questions about the company, ...
Sek Odom and Janelle Retka
https://www.cambodiadaily.com/news/private-firm-takes-responsibility-work-permits-117428/
Palm sugar's GI status
Kampong Speu palm sugar is expected to receive its geographical indication (GI) status certification from the European Commission’s Directorate-General for Agriculture and Rural Development by the end of this year, according to an official from the Kampong Speu Palm Sugar Promotion Association (KSPSPA). Mr. Sok Sarang, ...
Sok Chan
http://www.khmertimeskh.com/news/29070/palm-sugar-s-gi-status/
Exports to Thailand still blocked
Agricultural exports to Thailand are still being blocked at the border by Thai authorities over concerns that officials’ seals and certificates of origin are being forged, as Cambodian officials try to resolve the issue. The Ministry of Commence on Friday issued a statement stressing that the ...
May Kunmakara
http://www.khmertimeskh.com/news/29025/exports-to-thailand-still-blocked/
SMEs: don’t look down on local goods
The Ministry of Commerce and representatives of small and medium enterprises (SMEs) came together on Friday to discuss ways to boost the promotion of made-in-Cambodia goods, both in local and international markets, against a background of local supermarkets discriminating against these local products. Minister of Commerce ...
Sum Manet
http://www.khmertimeskh.com/news/29022/smes--don---t-look-down-on-local-goods/
Region agrees on new standards for rubber
Rubber industry experts and government officials from ASEAN member countries gathered in Siem Reap yesterday to agree on harmonised standards for rubber products that would facilitate cross-border trade. The Asean Consultative Committee for Standards and Quality (ACCSQ) Rubber-Based Product Working Group (RBPWG) agreed to 61 harmonised ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/region-agrees-new-standards-rubber
Control credit, says Moody's
While Cambodia’s Moody’s rating is still at the same B2 level as last year, its economic growth has been downgraded two points from 2015, with the international credit rating agency warning that the Kingdom’s rapid pace of credit growth could pose financial stability risks. “The pace ...
May Kunmakara
http://www.khmertimeskh.com/news/28970/control-credit--says-moody-s/
MFI lending continues on course
Cambodia’s microfinance sector continued to expand rapidly during the first half of the year, despite concerns over rising default rates as the industry’s main borrowers – provincial farmers – struggle to repay their loans after successive seasons of drought and poor harvests. ...
Hor Kimsay
http://www.phnompenhpost.com/business/mfi-lending-continues-course
Indian investors see Cambodia as gateway to Asean
Indian businesses are looking at Cambodia as a convenient hub in the lower Mekong area, as access to trade with neighboring Vietnam and Thailand improves, a government advisor said yesterday. Speaking at a seminar titled “Asean Integration and the Role of India,” Sok Siphana, a lawyer ...
Chea Vannak
http://www.khmertimeskh.com/news/28968/indian-investors-see-cambodia-as-gateway-to-asean/
US to provide $125M for Acleda financing
The Overseas Private Investment Corporation (OPIC), the US government’s development financial institution, signed a commitment letter for $125 million direct loan to Acleda Bank to support all sectors through microenterprises and small- and medium-size enterprises (SMEs), Acleda Bank said in a press release yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/us-provide-125m-acleda-financing
Cambodia Securities Exchange open for liquidity provider applications
The Cambodia Securities Exchange (CSX) officially began receiving applications for liquidity providers yesterday as part of an initiative to boost market liquidity, it said in a press release. ...
Post Staff
http://www.phnompenhpost.com/business/cambodia-securities-exchange-open-liquidity-provider-applications