Slow rubber market puts law on back burner Palm sugar hits a sweet spot

25 June 2015

Exports of Kampong Speu palm sugar with geographical indication status increased sharply this year thanks to growing demand from South Korea and France. It has reached 75 tons this year, an increase of 50% compared to the same period last year. The orders came in at around 35 tons with the rest of the exports going mainly to the European Union, Japan and the United States.

Source:

http://www.phnompenhpost.com/business/palm-sugar-hits-sweet-spot

Acleda adds $40M to expand operations

25 June 2015

Acleda Bank was infusing $40 million to add to its current capital of $226 million, as it looks to expand domestic and foreign operations and keep up with the rising demand for credit in the Kingdom. Cambodia has 35 commercial banks and nine specialised bank by the end of 2014 with total loan portfolios of more than $9 billion.

Source:

http://www.phnompenhpost.com/business/acleda-adds-40m-expand-operations

SEA mobile games revenue to hit US$7bil by 2019: Frost & Sullivan

25 June 2015

THE mobile games industry in South-East recorded impressive growth and reached over US$1 billion in revenue in 2014. South-East Asia will definitely be an exciting gaming market to watch in 2015. The region is home to over 600 million potential gamers, economies are growing and disposable income is rising.

Source:

https://www.digitalnewsasia.com/mobile-telco/sea-mobile-games-revenue-to-hit-usd7bil-by-2019-frost-sullivan

Slow rubber market puts law on back burner

24 June 2015

The Ministry of Agriculture, Forestry and Fisheries has postponed the finalization of a draft rubber law amid declining rubber prices. “It is not a good time to put more regulations or requirements for producers to follow.” The price of rubber has declined from $4,500 per tonne on average in 2011 to between $1,800 and $2,000 per ton in 2013 up to now.

Source:

http://www.phnompenhpost.com/business/slow-rubber-market-puts-law-back-burner

Cambodia, the Philippines Sign MoU on Cultural Cooperation

24 June 2015

Cambodia and the Philippines reached here yesterday a memorandum of understanding (MoU) on cultural cooperation to enhance the culture, to protect the artistes’ interests and to promote the cultural exchange between both nations.

Source:

http://www.akp.gov.kh/?p=64728

Cambodia-China Trade to Top $5 Billion by 2017

24 June 2015

Bilateral trade between China and Cambodia will be worth more than $5 billion by 2017, up from $3.75 billion last year. As China’s economy continues to expand, bilateral trade between Cambodia and China is likely to increase more quickly than trade between Cambodia and Western countries.

Source:

https://www.cambodiadaily.com/business/cambodia-china-trade-to-top-5-billion-by-2017-86222/

French Embassy To Host French Cambodian MEDTECH Seminar and Business Meetings Today

19 June 2015

The Embassy of France and the Agency BUSINESS FRANCE, will host the French Cambodian MEDTECH Seminar today at the embassy in Phnom Penh. The opportunity to seven French companies to promote their medical technologies to potential local partners. Business meetings will also take place after the seminar, between French companies and local partners/customers, concluded the joint press release.

Source:

http://www.akp.gov.kh/?p=64225

Germany's finance firm lends 15 mln USD to Cambodian rice miller

19 June 2015

The German Investment and Development Corporation (DEG) signed to lend 15 million U.S. dollars to Cambodian rice milling company Angkor Kasekam Roongroeung (AKR) here on Wednesday. AKR had exported 430 tons of premium rice, mainly to European markets, in the first five months of 2015.

Source:

http://www.khmertimeskh.com/news/12367/germany-s-finance-firm-lends-15-mln-usd-to-cambodian-rice-miller/

Auto, construction drives Bosch

19 June 2015

The growth of Bosch was around 50% which was calculated from since 2010, it is the fourth consecutive year of strong double digit growth. We have been able to bring in more products and solutions in the automotive sector. In terms of construction, for us our power tools and security systems play an important role.

Source:

http://www.phnompenhpost.com/business/auto-construction-drives-bosch

PPSEZ shores up land deal prior to CSX listing

17 June 2015

Phnom Penh Special Economic Zone, the Kingdom’s most-developed SEZ, says the land deal for its planned SEZ in Poipet will be concluded before PPSEZ lists on Cambodia’s stock exchange. The cash from PPSEZ’s listing, which is expected to raise $15 million, will be used to develop infrastructure on the land. “Cambodia has two major advantages: one is low labor cost, second is good connectivity with Thailand.”

Source:

http://www.phnompenhpost.com/business/ppsez-shores-land-deal-prior-csx-listing

Turkey seeks a boost in electronics trading

17 June 2015

As Cambodia and Turkey aim to increase bilateral trade to $500 million by 2020, a visiting Turkish trade mission arrived in the Kingdom yesterday. Turkey’s electronic sector accounted for nearly $13 billion in exports last year, with nearly 60% being shipped outside of the European Union. He added that while Cambodia has many well-established Japanese and Korean brands in the appliances sector, there was still space for Turkish companies to grow.

Source:

http://www.phnompenhpost.com/business/turkey-seeks-boost-electronics-trading

Bangkok Bank opens branch in Phnom Penh

16 June 2015

Bangkok Bank has further extended its presence in Asean with the opening of a branch in Phnom Penh on Monday. The branch in Cambodia will provide a full range of financial services. It offers services to customers' trade partners, local customers and investors planning to invest in Cambodia and in other countries with Bangkok Bank branches. The bank’s international network now comprises 30 branches in 14 countries. 

Source:

http://thecambodiaherald.com/cambodia/bangkok-bank-opens-branch-in-phnom-penh-8686

Cambodia-China Bilateral Trade Rises to US$3.7 Billion

16 June 2015

Bilateral trade between Cambodia and China has risen to US$3.7 billion. These two countries have been committed to push up bilateral trade of the two countries to US$5 billion in 2017. China is a key investor in Cambodia and has so far invested about US$10 billion in Cambodia. Through 12-16 June China-South Asia Expo and Trade Fair, the Minister of Commerce and his delegation hope to attract more investors to Cambodia.

Source:

http://www.akp.gov.kh/?p=63911

Telecoms rush to provide 4G

15 June 2015

Cambodian telecom companies are scrambling to jump on the 4G bandwagon. While the big three telecoms in Cambodia – Smart, Metfone and Cellcard – all have 2G and 3G services, new entrant and Singapore-based South East Asia Telecom or Seatel has decided to directly provide 4G LTE services. The company has been in Cambodia for a year and will launch its services in the next few months.

Source:

http://www.phnompenhpost.com/business/telecoms-rush-provide-4g

PastaMania to set up on capital’s riverfront

15 June 2015

A piece of Italy is coming to the capital’s riverside area, where Singapore-based Italian-style fast casual franchise PastaMania has begun construction. The first outlet is opening in September or October of this year along the river. The restaurants in the city had also increased to 2,180 from 1,726 last year. The study indicated that more upscale restaurants, such as fast food chains, cafes, and bubble tea outlets, have seen increasing attention from young people between the ages of 15 to 30.

Source:

http://www.phnompenhpost.com/business/pastamania-set-capitals-riverfront

Q1 investments zoom

15 June 2015

The first quarter 2015 show that $2.87 billion was invested in Cambodia, a staggering 573% increase from the same period last year. The Kingdom recorded nearly $3 billion in private investments, both local and foreign. Total foreign direct investment in Cambodia hit $4 billion last year, with China, Malaysia and Japan taking the top three spots.

Source:

http://www.phnompenhpost.com/business/q1-investments-zoom

Single visa for two kingdoms

12 June 2015

Cambodia and Thailand have joined hands to increase foreign and inter-ASEAN tourism under the “Two Kingdoms, One Destination” tourism pact. Cambodia and Thailand have already created a single-visa option for tourists looking to explore both countries in one trip. The arrivals generated about $3 billion worth of Cambodia’s $15 billion GDP. The Ministry of Tourism projected that Cambodia would receive about 5 million foreign tourist arrivals this year.

Source:

http://www.phnompenhpost.com/business/single-visa-two-kingdoms

Inflation down as global oil prices ease off

12 June 2015

Cambodia experienced low inflation of around 1% over the last three months thanks to a decline in oil prices. The National Institute of Statistic data showed that rice prices increased 1.1%, and Non-food goods and services like transportation and telecom prices were down 10.5% and 2.6% respectively. Utilities like housing, water, electricity, and cooking gas declined by almost 2%.

Source:

http://www.phnompenhpost.com/business/inflation-down-global-oil-prices-ease

Feathers ruffled over Angkor replica

12 June 2015

Cambodia’s Ministry of Foreign Affairs has lodged a complaint over a “copy” of Angkor Wat planned for Bihar, India, asking Indian government to intervene and put a halt to the project. Located in Cambodia’s Siem Reap province, Angkor Wat Historical Park, was inscribed in the UNESCO’s World Heritage list in 1992, and is the country’s most popular tourist destination.

Source:

http://www.ttrweekly.com/site/2015/06/feathers-ruffled-over-angkor-replica/

A Singapore based-airline touches down Preah Sihanouk International Airport

9 June 2015

SilkAir, a Singapore based-airline landed at the Preah Sihanouk International Airport last week. The maiden flight, carrying 106 passengers on board, touched down at 2.58pm (local time) on Saturday last week. SilkAir will be operating services to/from Sihanoukville on a charter basis in order to test the market. Three other flights are planned this coming December, a period during which outbound travels peak due to the school holidays in Singapore.

Source:

http://thecambodiaherald.com/cambodia/a-singapore-based-airline-touches-down-preah-sihanouk-international-airport-8656

New air route aims to cut travel times, fuel costs

8 June 2015

Cambodia will use a new air route for flights to Laos, Thailand and Vietnam that will reduce fuel costs and provide a more direct route to these countries reducing air time for these flights. The agreement was signed in Siem Reap last week after multilateral meetings between the involved countries. Cambodia saw 1.3 million tourists from Laos, Myanmar, Vietnam and Thailand in 2014 – a 10% drop from a year earlier.

Source:

http://www.phnompenhpost.com/business/new-air-route-aims-cut-travel-times-fuel-costs

Cambodia's rice export up 64% in 5 months

8 June 2015

Cambodia exported 243,025 tons of milled rice in the first five months of 2015, a 64% rise from the 148,262 tons over the same period last year. Three top buyers of Cambodian rice of the first five months of this year are: China 68, 437 tons of rice, France 29,717 tons and Poland 26,513 tons.

Source:

http://thecambodiaherald.com/cambodia/cambodias-rice-export-up-64-pct-in-5-months-8655

APSARA To Build a Tourist Hospitality Center in Front of Angkor Wat

8 June 2015

The Authority for Protection and Management of Angkor and the Region of Siem Reap (APSARA) is planning to construct a tourist hospitality center in Siem Reap province. This construction project will include tourism information desk, rest area, food and drink area, as well as souvenir shops. Angkor Wat attracted some 842,719 foreign tourists in the first four months of this year, generating about US$24.1 million as income.

Source:

http://www.akp.gov.kh/?p=63425

We Want Your Business, UN Tells Local Firms

5 June 2015

The $1.6-billion Untac mission of the early 1990s injected a huge amount of money into Cambodia’s economy. Now, the U.N. wants to pump millions more into the country. U.N. representatives briefed some 30 Cambodian business owners on how they could potentially make millions of dollars by selling their products or services to U.N. agencies in Cambodia and around the world.

Source:

https://www.cambodiadaily.com/news/we-want-your-business-un-tells-local-firms-85035/

GTI to pay 177 riel per share

5 June 2015

Garment factory Grand Twins International (GTI), one of the two companies listed on Cambodia’s fledgling stock exchange, will pay 50% of its net income after tax in dividends to shareholders by the 22nd of this month. GTI, the first private company to be listed on the CSX, began trading when it opened in June of last year at 9,700 riel a share and closed yesterday at 4,720 riel.

Source:

http://www.phnompenhpost.com/business/gti-pay-177-riel-share

Partner found to explore Block D

4 June 2015

Singapore-listed oil and gas company Mirach Energy announced yesterday that its Cambodian partner firm, CPHL Cambodia, has signed an agreement with two Chinese companies to start drilling operations for exploration in its offshore oil block. The two Chinese companies, both subsidiaries of Shenzhen-listed Landocean Energy Services, will drill three exploratory wells in Block D.

Source:

http://www.phnompenhpost.com/business/partner-found-explore-block-d

Cassava-run biomass plant closer to fruition

4 June 2015

A planned biomass plant run on cassava in Battambang province looks ever more likely after a trial period with 100 farmers was successfully completed and it expects to produce up to 200,000 kilolitres of ethanol yearly by 2020. Idemitsu Oil & Gas signed a memorandum of understanding (MoU) with the Ministry of Agriculture, Forestry and Fisheries and the Cambodia Mine Action Centre (CMAC) in 2012 to explore the development of biofuels in Cambodia.

Source:

http://www.phnompenhpost.com/business/cassava-run-biomass-plant-closer-fruition

China Invests in Construction and Industrial Sectors in Cambodia

4 June 2015

China has jointly established the China Sinomach Southeast Machinery (Cambodia) (CSSM) Co., Ltd., to invest in construction material and machinery industry manufacturing, installation and supplies sectors in Cambodia. This CSSM Cambodia for its investment that would bring China’s modern technologies to Cambodia to serve efficiently the construction and public works sectors to meet the international standard.

Source:

http://www.akp.gov.kh/?p=63092