Tycoon to beef up palm oil products

30 April 2015

Cambodian agriculture tycoon launched his company’s second palm oil processing plant in Sihanouk Ville province to keep up with increasing yields of palm oil. The $20 million processing plant is a joint venture between Mong Reththy Investment Cambodia Oil Palm and Thailand-based TCC Group. Last year, the company exported 22,000 tons of crude palm oil, up from 19,000 tons in 2013. But price falls had significantly cut into the firms’ revenue.

Source:

http://www.phnompenhpost.com/business/tycoon-beef-palm-oil-products

Thai paint producer on the way

30 April 2015

Thailand’s largest paint manufacturer, TOA Paint, is set to begin production in Cambodia before the end of the year. Opening new factories in Cambodia and Indonesia, the firm is looking to expand its regional footprint in light of the upcoming ASEAN Economy Community. “Considering CAM Paint’s position in the market now”

Source:

http://www.phnompenhpost.com/business/thai-paint-producer-way

Cambodia to export crocodile skins to France next month

29 April 2015

Cambodia will export 1,000 crocodile skins to France next month in a pilot project that, if successful, will look to increase the sale of skins to the Europe.

Cambodia currently exports crocodile skins and meat to Vietnam, Thailand and China. The buyers (from the EU), they offer more than 100 U.S. dollars per skin for grade C. If our skins can be categorized as grade B, then we get 20% more and for grade A, we get 50% more. Some 357 crocodile farms are registered with the Fisheries Administration.

Source:

http://thecambodiaherald.com/cambodia/cambodia-to-export-crocodile-skins-to-france-next-month-8478

SMEs to benefit from trademark protocol

29 April 2015

From mid-June, companies with a production base in Cambodia that want to protect their product’s trademark overseas will be able to register in the Kingdom.

Cambodia joined an international system of trademarks, known as the Madrid Protocol, in March and official use of the scheme comes into force in June. Once enforced, the protocol will allow Cambodian companies to protect their products in 110 foreign countries by registering their trademark with the Ministry of Commerce.

Source:

http://www.phnompenhpost.com/business/smes-benefit-trademark-protocol

More Investment from IFC in Cambodian MFIs

29 April 2015

The International Finance Corporation (IFC), a member of World Bank Group, has invested in PRASAC Microfinance Institution Ltd. to expand lending for micro and smaller businesses in Cambodia.

  

IFC has provided a loan of up to US$10 million to PRASAC to increase lending to micro, small and medium enterprises in the rural and agricultural sectors. IFC aims to expand lending to more than 845,000 borrowers, or about 48% of the number of borrowers served by microfinance lenders in Cambodia at present.

Source:

http://www.akp.gov.kh/?p=61612

Chinese Ships To Visit Cambodia at the End of This Year

29 April 2015

Chinese ships will dock at Cambodia’s Preah Sihanouk International Seaport at the end of this year. China will dispatch its ships to Cambodia for three different visits in late 2015. Cambodia has so far adopted the open door policy both under the UN framework and under the regional and friendship cooperation, therefore we used to welcome various ships from the U.S., Japan, India, etc.,.

Source:

http://www.akp.gov.kh/?p=61625

Internet users in Cambodia expected to reach 9.5 mln by 2020: official

28 April 2015

Cambodian Minister of Posts and Telecommunications said that the country's internet users are likely to reach up to 9.5 million by 2020, or 65% of the nation's estimated 14.7 million people. According to the government's figures, the number of internet subscribers in Cambodia topped 5 million as of last year, up 29.5% from 3.86 million in a year earlier.

Source:

http://thecambodiaherald.com/cambodia/internet-users-in-cambodia-expected-to-reach-95-mln-by-2020:-official-8477

Malaysia premier launches 24-hour ASEAN travel channel

28 April 2015

The world will now be able to see Asean and its many attractions through a brighter lens when the first ever Asean-focused travel channel begins this year.

Called “Go Asean”, the 24-hour channel will broadcast content exclusive to Asean, including promoting the region as a travel destination and a key economic driver. The channel, which will go live on Astro (Channel 737) in June, will source and broadcast content from all 10 Asean member nations, promoting the uniqueness that each has to offer to a worldwide audience.

Source:

http://thecambodiaherald.com/cambodia/malaysia-premier-launches-24-hour-asean-travel-channel-8474

JICA Grants US$18 Million to Support Modern Traffic Light Installation Project in Phnom Penh

28 April 2015

Japan International Cooperation Agency (JICA) has decided to provide some 185 million Yen or equivalent to US$18 million to Phnom Penh Municipality for the modern traffic light installation project. JICA will install 100 traffic lights in Phnom Penh and equip them with safety cameras. This project will take more than a year, from January 2016 to March 2017.

Source:

http://www.akp.gov.kh/?p=61564

ADB Grants US$7.4 Million to Enhance Communities’ Resilience to Climate Change in Two Provinces

28 April 2015

The Asian Development Bank (ADB) and the Government of Cambodia on Monday signed a grant agreement totaling US$7.4 million to enhance communities’ resilience to climate change impacts in Koh Kong and Mondulkiri provinces.

This grant agreement will increase water availability through the construction of 40 rainwater harvesting ponds for home gardens and introducing drought-resilient in both provinces. It will also rehabilitate an irrigation scheme in Mondulkiri for an area of 250 hectares, and support the adoption of a rice intensification system that will benefit about 1,000 households.

Source:

http://www.akp.gov.kh/?p=61577

Gov’t mulls green incentives

24 April 2015

The Ministry of Environment said it is working to make eco-friendly and green technologies tax-free, in order to reduce the cost barriers associated with importing and implementing these technologies, such as the use of solar panels. Ministry of Environment and Ministry of Economy and Finance is working on tax reforms that will encourage the use of such technology, whilst also ensuring sustainable development.

Source:

http://www.phnompenhpost.com/business/govt-mulls-green-incentives

Indonesia flight link discussed by leaders

24 April 2015

Cambodia's and Indonesia’s leaders have expressed their intent to establish a direct flight to boost trade and tourism. Last year, Indonesia ranked as the 18th largest source of tourists to the Kingdom, with 35,655 visitors. Trade between the two countries, meanwhile, ranked at around $600 million last year, Hun Sen said at the forum.

Source:

http://www.phnompenhpost.com/business/indonesia-flight-link-discussed-leaders

Gelato and pasta chain to enter Cambodia

23 April 2015

Singaporean food conglomerate Commonwealth Capital Group has teamed up with K Distribution Company Ltd, a local Cambodian fashion retailing firm, to bring two Italian fast-casual restaurant chains to the Kingdom. The franchise agreement is for six Pastamania and Gelatofix outlets, which will open in the next 18 months. The new food outlets will add to K Distribution Company’s existing food and beverage portfolio.

Source:

http://www.phnompenhpost.com/business/gelato-and-pasta-chain-enter-cambodia

New business registrations up during first quarter

23 April 2015

Cambodia saw a 4% increase in new registered companies for the first three months of 2015, with 1,108 businesses registering with the Ministry of Commerce.

The Japanese External Trade Organization (JETRO) conducted a survey late last year and found out that 80% of Japanese companies in Cambodia are looking to expand their local operations in 2015. Another positive takeaway from the survey was the increase in investor confidence, with Japanese businesses’ confidence exceeding 60% among the 40 or so respondents, indicating strong expectations for an upswing in local operations and revenues.

Source:

http://www.phnompenhpost.com/business/new-business-registrations-during-first-quarter

Cambodia To Open Embassy in Egypt

23 April 2015

Cambodia will further promote its diplomatic ties and cooperation with Egypt by establishing its embassy in Cairo, Egypt, in the near future. Cambodian Embassy is expected to be opened during the visit of Prime Minister of the Kingdom of Cambodia, while meeting of the Asian African Summit held yesterday afternoon in Jakarta, Indonesia.

Source:

http://www.akp.gov.kh/?p=61351

Cambodia to bid for Iraqi rice supply

22 April 2015

A Cambodian rice exporter is expected to take part in an Iraqi bid for 30,000 tons of milled rice late this month. The Iraqi government has invited international tenders from Uruguay, Argentina, Brazil, Vietnam, Cambodia, Pakistan, India, Thailand, and the United States. The last date for submitting bids is 26 April. Cambodia exported 828 tons of milled rice to Iraq last year. During the first quarter of 2015, the country exported another 207 tons to Iraq.

Source:

http://thecambodiaherald.com/cambodia/cambodia-to-bid-for-iraqi-rice-supply-8448

Krispy Kreme doughnuts come to Kingdom

22 April 2015

American-style doughnuts are set to roll into the Kingdom after US-based doughnut chain Krispy Kreme announced it would open 10 shops across Cambodia over the next five years.

EFG manages other international chains in the Kingdom such as the Pizza Company and Dairy Queen. Krispy Kreme, which is publicly listed on the New York Stock Exchange, currently has over 1,000 shops in 24 countries, including Malaysia, Thailand, the Philippines, Singapore, and Indonesia. The company expects to add 95 to 110 international shops during the current fiscal year.

Source:

http://www.phnompenhpost.com/business/krispy-kreme-doughnuts-come-kingdom

World Economic Forum 2016 To Be Held in Cambodia

22 April 2015

The World Economic Forum 2016 is scheduled to take place in Cambodia. The information was made known in a meeting between Cambodia’s Prime Minister and Managing Director of World Economic Forum and will continue for the success of the World Economic Forum 2016 in Cambodia.

Source:

http://www.akp.gov.kh/?p=61280

Tourism licences to go online

21 April 2015

The Ministry of Tourism launched a new online system to register tourism-related businesses and tour guides who need a licence, in order to ease the licence inspection process and boost government revenues. The new system will help as each business will now be issued an ID and Quick Response Code, making tracking the companies easier.

Source:

http://www.phnompenhpost.com/business/tourism-licences-go-online

Minister lays out garments’ impact

21 April 2015

Cambodia’s garment sector is a key driver of economic growth, currently had 1,087 garment and footwear factories, spending a combined $1 billion on wages per year. The importance of garments to the Kingdom’s economy, with $5.7 billion of garments being exported last year. Footwear exports added another $33.84 million, with the total making up around 80% of the country’s exports.

Source:

http://www.phnompenhpost.com/business/minister-lays-out-garments-impact

ELC earnings underwhelm

21 April 2015

The Cambodian government earned about $80 million leasing economic land concessions and forests to private companies over the last three years. The lands granted to private companies are vast: in 2013 alone, 230 companies were granted ELCs with a total size of almost 2 million hectares.

Source:

http://www.phnompenhpost.com/business/elc-earnings-underwhelm

Abacus signs Cambodia Bayon

20 April 2015

Cambodia Bayon Airlines has chosen Abacus as its first global distribution system partner to help the airline tap travel agency bookings within Asia. The multi-year distribution agreement will provide Abacus-connected travel agents across 29 markets with access to all the airline’s fare content. Singapore-based Abacus International serves a network of 20,000 travel agency locations in 31 markets.

Source:

http://www.ttrweekly.com/site/2015/04/abacus-signs-cambodian-bayon/

IMF sees exports to US offsetting China slowdown

20 April 2015

Cambodia’s economy is expected to benefit from a strong recovery in the US markets and the fall of global oil prices, driving its high growth trend.

The projection reports stronger exports from Cambodia to the US, which is currently the Kingdom’s largest export destination, boosting domestic production. However, it did warn of sluggish growth in the euro region and a sharper-than-expected slowdown in China’s growth, dampening growth prospects. Trade data from the US shows that Cambodian exports accounted for $2.84 billion last year, a slight increase from the $2.77 billion reported in 2013.

Source:

http://www.phnompenhpost.com/business/imf-sees-exports-us-offsetting-china-slowdown

183 Japanese Companies Recorded in Cambodia

20 April 2015

Up to the first trimester of this year, the number of the Japanese companies investing in Cambodia reached 183. President & Group Managing Director of Acleda Bank told local media recently that the number of Japanese investors in Cambodia has seen remarkable increase. Some of those companies have been registered at the Council for the Development of Cambodia and others at the Ministry of Commerce.

Source:

http://www.akp.gov.kh/?p=61109

China weighs soybean, mango imports

17 April 2015

China will increase its agricultural imports from Cambodia to include bananas, mango and soybeans, having already signed a food safety and health protocol for the import of corn last year. Cambodia Agriculture Minister said that China, after signing a Sanitary and Phytosanitary (SPS) protocol for corn, was exploring the possibility of importing other agricultural products, beyond the rice and cassava it already imports.

Source:

http://www.phnompenhpost.com/business/china-weighs-soybean-mango-imports

Cambodia Exports over 100,000 Tons of Milled Rice in 2015’s First Quarter

17 April 2015

In the first semester of 2015, Cambodia’s milled rice export to international markets reached 149,464 tons, increasing nearly double from previous year, 84,331 tons. During the three-month period, Cambodia exported its rice to 19 countries, but only three countries that Cambodia exported to the most – China, Malaysia and France.

Source:

http://www.akp.gov.kh/?p=60883

World Bank: Cambodian Economy To Grow by 6.9% in 2015

17 April 2015

Cambodia’s economic growth this year and next year will be at 6.9%. Last year, the World Bank said Cambodia’s economic growth was at 7%. The Asian Development Bank’s Asian Development Outlook 2015 (ADO) released in March said Cambodia’s gross domestic product (GDP) was projected to expand by 7.3% in 2015, up from 7.0% in 2014, and will climb to 7.5% next year.

Source:

http://www.akp.gov.kh/?p=61019

Cambodia’s Customs Revenue Up Nearly 13% in Q1

17 April 2015

In the first quarter of this year, Cambodia earned a total customs revenue of some 1,470 billion Riel, roughly equivalent to US$363 million, an increase by nearly 13% if compared to the same period in the previous year. In March this year, the General Department of Customs and Excise collected some 522 million Riel or US$129 million, up around 17% as compared to March last year.

Source:

http://www.akp.gov.kh/?p=61003

Cambodia, Russia Bolster Economic, Trade and Investment Cooperation

9 April 2015

 

Economic, trade and investment cooperation between Cambodia and Russia. The discussion on initiative to organize negotiation program on “No Overlapping Tax Collection Agreement” between Cambodia and Russian to support the implementation of an agreement on promotion and protection of mutual investment, just signed in Moscow in early March 2015.

Source:

http://www.akp.gov.kh/?p=60732

Philippines and Cambodia exploring MoU

9 April 2015

 

The Philippines is looking to sign a Memorandum of Understanding with Cambodia to explore opportunities to work together on aquaculture and the rice sector. The MoU will see the two countries working to exchange information and experience on fisheries, aquaculture and the rice sector.

Source:

http://www.phnompenhpost.com/business/philippines-and-cambodia-exploring-mou