Thai financial major Krungsri buys out Cambodian micro-lender HKL

28 January 2016

Thailand’s fifth largest financial group and a subsidiary of Japan’s leading financial group Mitsubishi UFJ Financial Group, has acquired a 100% stake of Hattha Kaksekar Limited (HKL), one of the leading microfinance institutions in Cambodia. HKL is the fourth largest microfinance institution in Cambodia offering both loan and deposit products to customers.

Source:

http://www.dealstreetasia.com/stories/krungsri-acquires-cambodian-micro-financial-group-hkl-28704/

New Japanese MFI to assist farmers

28 January 2016

Japanese financial services firm Idemitsu Credit said it had started operations in its local subsidiary that will provide financing and instalment payment services to the agricultural sector in Battambang. The firm plans to also give loans to cassava farmers and once harvested will buy back their produce and sell it for ethanol production.

Source:

http://www.phnompenhpost.com/business/new-japanese-mfi-assist-farmers

PM says funds needed for rice storage, drying

26 January 2016

Cambodia Prime Minister has called for more investment in rice storage facilities and drying machines in a bid to increase the country’s rice export capacity. Cambodia was negotiating with China for rice storage warehouses and also asking for assistance in purchasing drying machines to help process paddy rice.

Source:

http://www.phnompenhpost.com/business/pm-says-funds-needed-rice-storage-drying

Tourist numbers and revenue climb in 2015

26 January 2016

An estimated 4.8 million international tourists visited Cambodia in 2015, marking a modest 6% increase over the previous year. Visitors spent around $3.5 billion in 2015, compared to $3 billion a year earlier. Tourism accounts for nearly 20% of Cambodia’s GDP.

Source:

http://www.phnompenhpost.com/business/tourist-numbers-and-revenue-climb-2015

‘Legend Island’ Draws $1 Billion Tourism Project

25 January 2016

About $1 billion will be invested to transform Koh Tang nearby Sihanouk Ville – “Legend Island” – into a luxury destination for domestic and international tourists, with resorts, hotels, a theme park, golf course and airport. Construction will begin at the end of this year. Late last month, Preah Sihanouk province also saw a ground-breaking ceremony for a $20 million luxury residential project on Koh Rong.

Source:

http://www.khmertimeskh.com/news/20484/---legend-island----draws--1-billion-tourism-project/

S. Korea is Laying the Foundation for Accelerating Growth

25 January 2016

The flow of Korean investment into Cambodia has been in the spotlight for more than a decade, primarily foreign direct investment in the construction and property sectors. Investment from the East Asian nation continues its rise, and in 2014 South Korean investment in Cambodia ranked among the top five, while bilateral trade has risen gradually.

Source:

http://www.khmertimeskh.com/news/20465/s--korea-is-laying-the-foundation-for-accelerating-growth/

CRF kicks off annual forum with rice competition

25 January 2016

The Cambodia Rice Federation opened its annual rice festival yesterday with a competition to find the country’s best rice. It gave out three awards in different categories, with the announcement of two other awards to be made by Cambodia Prime Minister today. The Battambang-based agricultural community of Sangha Phal was awarded the best paddy in the Kingdom.

Source:

http://www.phnompenhpost.com/business/crf-kicks-annual-forum-rice-competition

Netherlands to Bring Clean Stove Auction to Cambodia

22 January 2016

A pilot project to bring clean-burning portable stoves to Cambodia. The stoves are both healthier for the user and better for the environment; at least 3 million have been distributed since 2012. The beginning in March, SNV would auction off “aspirational” multi-fuel stoves likely costing between $25 and $100 to wholesalers in the country.

Source:

https://www.cambodiadaily.com/news/netherlands-to-bring-clean-stove-auction-to-cambodia-106121/

Cassava Price Can Increase In Few Months

22 January 2016

The price of cassava roots can increase in few months and it is encouraged that Cambodian farmers delay their harvest until then. To ease the process, the Ministry of Commerce has explored the possibility to export cassava roots directly to China. Cassava roots can be processed into several different products including gari, flour, bread and starch.

Source:

http://www.akp.gov.kh/?p=75274

All Nippon Airways To Launch Direct Flight from Japan to Cambodia in September

22 January 2016

All Nippon Airways (ANA) Co., Ltd., a major Tokyo-based airlines company, will launch its daily direct flight to Cambodia on 1 Sept., 2016. ANA will use Boeing B787-8 (C42/Y198) for Tokyo-Phnom Penh route (10:50-15:10) and Phnom Penh-Tokyo route (22:50-06:45(+1)). It will increase the number of Japanese tourists to Cambodia and vice-versa.

Source:

http://www.akp.gov.kh/?p=75313

Solar Power in the Spotlight

21 January 2016

The government should invest more in sustainable energy, with a focus on solar power, this could reduce Cambodia’s dependence on large-scale hydropower projects and coal-fired plants. Cambodia’s electricity is mainly derived from hydropower, coal plants, and imported energy from Thailand and Vietnam.

Source:

http://www.khmertimeskh.com/news/20291/solar-power-in-the-spotlight/

Singapore works with Cambodia to hasten the process of getting patent grants

21 January 2016

The Intellectual Property Office of Singapore (Ipos) has started work with Cambodia on patent applications to hasten the process. The memorandum of understanding is signed to cooperate on IP protection and help develop the region's IP ecosystem. It is for creators and entrepreneurs to grow their businesses and gain a competitive edge in ASEAN.

Source:

http://www.straitstimes.com/business/economy/singapore-works-with-cambodia-to-hasten-the-process-of-getting-patent-grants

Fishery manual to aid export potential

21 January 2016

A trade facilitation manual aimed at increasing the size of Cambodia’s seafood products will be ready by April and looks to help producers and exporters improve their export readiness and take advantage of ASEAN integration. Coastal fish yields dipped 5% in 2015 to 46,830 tons, down from 2014’s 49,250 tons.

Source:

http://www.phnompenhpost.com/business/fishery-manual-aid-export-potential

Investment in Construction Reaches All-time High

15 January 2016

Investment in the construction sector reached an all-time high last year at almost $3.5 billion, up about 40% from the $2.5 billion invested in the sector in 2014. About 700 buildings, ranging from five to 55 floors, were built last year across the country, with most going up in the capital, Kandal, Siem Reap, Sihanoukville, and Battambang provinces.

Source:

http://www.khmertimeskh.com/news/19955/investment-in-construction-reaches-all-time-high/

European Bank Adds Cambodia to Network

15 January 2016

France’s BRED Bank, one of the largest lenders in Europe, plans to open its first branch in Cambodia by the end of 2016. It aims to assist small and medium-sized enterprises (SMEs) and boost exports and imports. While Cambodia had over 100 commercial banks-microfinance-leasing financial firms. Total deposits about 30%; Lending expanded 33.4% on-year.

Source:

http://www.khmertimeskh.com/news/19971/european-bank-adds-cambodia-to-network/

Cambodia, Hungary ink investment agreement

15 January 2016

Cambodia and Hungary inked an agreement on mutual investment protection that is expected to boost trade and investment between the two countries. The agreement coincided with the opening of a Hungarian trade representative office in Phnom Penh to assist Hungarian companies working in the Kingdom and vice versa.

Source:

http://www.phnompenhpost.com/business/cambodia-hungary-ink-investment-agreement

Gov’t Preparing to Eliminate Import Duties for ASEAN Products

11 January 2016

The government is planning to gradually reduce tariffs on most goods imported from other ASEAN member states to zero, putting Cambodia ahead of what is required of it under the ASEAN Trade in Goods Agreement (ATIGA). Under the AEC, Cambodia, Laos, Myanmar and Vietnam have more flexibility in lowering import duties than the more developed members of the regional bloc.

Source:

http://www.khmertimeskh.com/news/19589/gov---t-preparing-to-eliminate-import-duties-for-asean-products/

China Invests US$250 Million for Sino Plaza Construction Project

11 January 2016

Chinese investors have planned to invest around US$250 million to build an integrated complex in Phnom Penh called “Sino Plaza” in Chamcar Mon district. The Sino Plaza project includes a five-star hotel, movie theatre, office buildings, trade and service buildings, shopping mall, restaurants, and residential buildings.

Source:

http://www.akp.gov.kh/?p=74766

Positive growth has ports upbeat

11 January 2016

Cambodia’s two international ports – the Phnom Penh Autonomous Port (PPAP) and Sihanoukville Autonomous Port (SAP) are reported increases. The SAP reached 390,000 20-foot equivalent, a cargo capacity unit, up 17%, with PPAP recording 144,800 TEUs, which was an increase of 8%.

Source:

http://www.phnompenhpost.com/business/positive-growth-has-ports-upbeat

Rice warehouses are put back on the table in talks with China

5 January 2016

The Ministry of Commerce announced last week a $400 million proposal by three Chinese firms to build state-run rice warehousing facilities to increase the Kingdom’s storage capacity. Lacking such capacity is the issue to reaching the 1-million-ton rice export target. A warehouse with dried paddy stock would help increase exports across different markets.

Source:

http://www.phnompenhpost.com/business/rice-warehouses-are-put-back-table-talks-china

New player joins busy telecom market

5 January 2016

Kingtel, a new internet and telecom service provider, will offer internet services to customers, with the company expected to launch call services within the next few months with capital investment of more than $140 million. It will at first provide high-speed internet using fiber-optic services, in collaboration with Huawei and Cambodia Fiber Optic Communication Network.

Source:

http://www.phnompenhpost.com/business/new-player-joins-busy-telecom-market

Thailand Trade Fair 2016 To Take Place in January in Siem Reap

2 January 2016

Thailand is going to hold its annual trade expo in Siem Reap cultural province from 9-15 Jan, 2016. Some 120 companies will take part in the week-long event to display their products ranging from construction materials, electronic device to food and beverage, clothes, cosmetics, and utensils on 150 booths.

Source:

http://www.akp.gov.kh/?p=74296

Vehicle Imports Up 27% in First 11 months of 2015

2 January 2016

The first eleven months of 2015, the number of imported vehicles, both new and used ones, rose to 61,894, up about 27% compared to the same period last year. Most of the vehicles were imported from the United States, Japan, China and Korea.

Source:

http://www.akp.gov.kh/?p=74147

China To Invest Some US$400 Million in Rice Warehouse Project in Cambodia

2 January 2016

China’s three major companies are planning to invest some US$400 million in the construction and operation of a state rice warehouse project in Battambang, Pursat and Kampong Thom provinces. It will contribute to boosting Cambodia’s rice export to the international markets, including China.

Source:

http://www.akp.gov.kh/?p=74313