Economy and commerce

Insurance sales have grown by 37 percent in the first half of the year, totaling $56 million, the Insurance Association of Cambodia (IAC) announced in a report Tuesday.  The increase, up from $40.9 million for the same period last year, has been driven by a ...

A Memorandum of Understanding (MoU) has been signed between Matrade and the Cambodia Chamber of Commerce, said Malaysian International Trade and Industry minister Datuk Seri Mustapa Mohamed. ...

Cambodia has been listed as the highest-risk nation in ASEAN, and ranks sixth globally, for its susceptibility to money laundering and terrorism financing in a recently released global index that charts the vulnerability of 149 nations. ...

Ukraine aims to promote more bilateral cooperation and boost trade with Cambodia. At the same time, Kiev is urging Ukrainian businesses to consider investing in the Kingdom’s high performing sectors. ...

Acleda Bank, Cambodia’s largest financial institution, experienced sturdy year-on-year growth during the first half of the year, according to figures from its latest audited financial statement. ...

Switzerland-based Panalpina Group, the world’s leading provider of forwarding and logistics services, specializing in intercontinental air and ocean freight and associated supply chain management solutions, officially opened its own office in Cambodia yesterday. ...

The industry body for the nation’s garment and footwear manufacturers said new trade data showing a decline in Cambodian exports to the US during the first half of the year was a sign that the Kingdom was losing its competitive advantage, threatening the future of ...

Cambodia’s gross domestic product (GDP) is predicted to grow around 7.2 percent this year, buoyed up by clothing and apparel exports to the European Union (EU), according to estimates by the ANZ Group. The banking group also advised the Kingdom to diversify its economy and ...

Though all countries in the Greater Mekong Sub-region (GMS) had signed a cross-border trade agreement (CBTA) 14 years ago to enhance the sub-region’s economic connectivity, the CBTA, however, is yet to be ratified in individual Mekong nations for its full implementation. This was revealed last ...

Prime Minister Hun Sen ordered his officials to revoke the licenses of any investment and construction firms found doing little or nothing with the islands or land they said they would develop. ...

Cambodia has an opportunity to improve its corporate governance, addressing issues in this field that are increasingly important to international companies considering investment, an official from the International Finance Corporation (IFC) has said. ...

Cambodia’s capital market regulator officially granted its first round of derivatives trading licences this week, nearly 10 months after it vowed to formally regulate the inherently risky financial instrument and provide investors with more options to earn profits.   ...

With mobile money transfer services such as Wing and True Money continuing to spread their agent-based networks into rural parts of the country, local banks are increasingly leveraging their branch locations and ATM presence to provide a similar service through “Cash by Code”. ...

A new initiative aimed at encouraging more trading on Cambodia’s persistently quiet stock exchange will allow securities underwriters and dealers to become liquidity providers who can hold and trade shares in listed companies. ...

With ride-hailing giants Uber and Grab yet to enter the Cambodian market, a pair of local entrepreneurs have seized the initiative and developed the first private-hire car service and smartphone application for Phnom Penh’s frenetic city streets. ...

Sokha Hotels and Resorts will open the first dedicated convention centre in Siem Reap next month, giving the country’s leading tourist destination another major draw to attract foreign visitors.   ...

Japan-based Yusen Logistics has opened one of Cambodia’s largest temperature-controlled distribution center in Phnom Penh, which is becoming a significant air cargo destination for its textiles and perishable exports. The 33,000-square-foot facility has almost twice the capacity of the existing warehouse and includes a 4,237-square-foot ...

A civil society organisation has raised concerns about the proposed Regional Comprehensive Economic Partnership (RCEP), claiming that one provision of the sweeping trade agreement would limit the Kingdom’s ability to draft socially beneficial policies. ...

One of the Kingdom’s largest microfinance institutions (MFI), Prasac MFI, increased its paid up share capital by $29 million in a bid to increase public confidence and comply with the National Bank of Cambodia’s (NBC) requirements. ...

The Kingdom’s once-promising home-grown coffee industry has been laid low by adverse weather and fierce global competition, with the total area under coffee cultivation cut in half over the last three years as desperate farmers switch to other crops, a senior official at the Ministry ...

Sihanoukville Autonomous Port (SAP), the Kingdom’s largest maritime container hub, reported a six percent increase in cargo shipments in the first six months of the year, while tonnage rose by 10 percent in the same period. ...

China’s Commerce Minister Gao Hucheng, who has been on an official visit to Cambodia, will discuss roads, railways, airport construction, agriculture and other projects with senior government officials in the next few days. ...

A large US-based international hotels and resorts group plans to invest close to $120 million in a multi-resort development project in Preah Sihanouk province. ...

The export of crude palm oil (CPO) from agro-industrial conglomerate Mong Reththy Group reached 13,000 metric tons in the first six months this year, up a huge 116 percent compared to the same period last year. ...