MFI Sector up 51 Percent in 9 Months

20 November 2014

Cambodia’s microfinance sector continued to experience rapid growth as loan disbursements reached $1.79 billion over the first three quarters of 2014, a year-on-year increase of 51%.

Cambodia Microfinance Association covers loans issued by 45 microfinance institutions (MFIs), not including Acleda Bank. Last year, 39 institutions handed out $1.18 billion in loans over the same period. In a 2013 report by the Cambodia Institute of Development Study that analyzed the level of indebtedness in the MFI sector, 51% of borrowers surveyed said they had struggled to repay their loans on time.

Source:

http://www.cambodiadaily.com/business/mfi-sector-up-51-percent-in-9-months-72629/

Cambodia exports over 300,000 tons of rice in during January-October

20 November 2014

Cambodia exported 304,788 tons of rice in first ten months of 2014, up from 294,154 tons exported in the same period last year. The country exported 35,418 tons of rice in October, an increase of 7,387 tons over the same period last year. 82 companies exported rice to 57 countries around the world. Cambodia exported the most rice to France (56,125 tons). The ministry said that rice export will reach one million ton by 2015.

Source:

http://thecambodiaherald.com/cambodia/cambodia-exports-over-300000-tons-of-rice-in-during-january-october-7685

China To Boost Establishment of Sister Port Relationship with Cambodia

20 November 2014

The People’s Republic of China will do its utmost to boost the establishment of sister port relationship between Cambodia’s Sihanoukville Autonomous Port (PAS) and China’s Qinzhou Ports. The establishment of sister port relationship will provide benefits to both the ASEAN member countries and China, particularly Cambodia in transporting goods to China. The agreement on the Establishment of Sister Port Relationship between PAS and Qinzhou Port was signed on 16 Sep. 2014 in Nanning, China.

Source:

http://www.akp.gov.kh/?p=54147

Cambodia, China launch conference on trade, investment promotion

20 November 2014

Cambodia and southwestern China's Chongqing city on Friday jointly organized a conference on trade and investment, aiming at further enhancing bilateral ties and cooperation.

The half-day event was attended by some 20 Chinese company representatives from Chongqing city and around 80 Cambodian commerce officials and businessmen. China is the top investor in Cambodia with the accumulative investment of about $9.8 billion. On the bilateral trade, it was valued at $3.7 billion.

Source:

http://www.ecns.cn/business/2014/11-15/142828.shtml

CITS to open Cambodia's first non-airport duty-free shop

17 November 2014

China International Travel Service Group (CITS) will open a duty-free shop (DFS) in Cambodia next month, the first non-airport DFS in the country.

Located in Siem Reap, the store will open its doors to customers at the end of December, the group said at the China International Travel Mart in Shanghai. Covering 4,500 square meters, the DFS will offer an array of perfume, watches, tobacco and wine, among other products. China's DFS industry has found its way into foreign markets, aiming to provide Chinese travelers with a good shopping experience in addition to quality travel experience. Siem Reap has witnessed annual tourist growth of 20%, and China has become a main tourist source nation for Cambodia.

Source:

http://thecambodiaherald.com/cambodia/cits-to-open-cambodias-first-non-airport-duty-free-shop-7670

China to fund rice expansion

17 November 2014

China is set to loan Cambodia up to $300 million to build a series of warehouses aimed at assisting the Kingdom’s fledgling rice industry.

The loan is to be used to build more than 10 warehouses equipped with dryers capable of storing at least one million tons of Cambodia’s paddy. The facilities will be located along key rural production areas, urban markets and ports along the country’s value chains. President and CEO of Loran Group a major rice miller said up to 60% of paddy is sent immediately abroad for milling due solely to a lack of capital and holding capacity in Cambodia.

Source:

http://www.phnompenhpost.com/business/china-fund-rice-expansion