Hong Kong Airlines launches direct flight to Cambodia

29 February 2016

A Hong Kong Airlines’ aircraft is welcomed by a traditional water salute in Phnom Penh. Strong economic and tourism ties between Hong Kong and Cambodia encouraged the airline to begin regular flights to Cambodia. The airline operates flights on the Hong Kong-­Phnom Penh route every Tuesday, Thursday and Saturday.

Source:

http://macaudailytimes.com.mo/hong-kong-airlines-launches-direct-flight-cambodia.html

Pestech plans to list subsidiary on CSX

29 February 2016

Malaysian power infrastructure provider Pestech International has announced plans to list one of its indirect wholly owned Cambodian subsidiaries on the local stock exchange. The IPO would be revealed following an application to the Cambodian securities regulator, tentatively targeted by the second quarter of 2016.

Source:

http://www.phnompenhpost.com/business/pestech-plans-list-subsidiary-csx

SECC Cuts Down Basic Fees to Encourage Public Investment

29 February 2016

Securities and Exchange Commission of Cambodia (SECC) has recently announced the reduction of some basic fees to encourage more public investment. The fees of security trading, payment and money transfer from account to another have been cut down by 50%.

Source:

http://www.akp.gov.kh/?p=77056

Angkor Air Set to Swoop into Seoul

26 February 2016

Cambodia’s flagship carrier Angkor Air will commence services to South Korea, with regular flights between Phnom Penh and Seoul from 17 April. The regular service will offer on Monday, Wednesday, Thursday, and Sunday using a 178-seat Airbus A321 jets. The flights will help strengthen relations with both countries, including business ties and tourism.

Source:

http://www.khmertimeskh.com/news/21904/angkor-air-set-to-swoop-into-seoul/

Donaco dumps its new junket operator

26 February 2016

Donaco International Ltd has terminated its junket deal with Macau VIP gaming promoter Heng Sheng Group. The company was considering options to expand its gaming floor into the adjoining 240-room Star Paradise Hotel to accommodate an expected surge in Thai VIP traffic. In addition to the casino, Donaco operates the Aristo International Hotel in northern Vietnam near the Chinese border.

Source:

http://www.phnompenhpost.com/business/donaco-dumps-its-new-junket-operator

U.S. Purchased US$3 Billion Garment Products from Cambodia

26 February 2016

The United States of America purchased garment products equivalent to US$3 billion last year. The visited factories, Cambodian Textiles Worldwide in Phnom Penh and Pactics in Siem Reap contributed significantly to the said purchase by the U.S. from Cambodia.

Source:

http://www.akp.gov.kh/?p=77004

Ly Hour to join cash transfer market

25 February 2016

Domestic money-transfer service Ly Hour Pay Pro has received an operating licence from the central bank and will begin operations soon with 1,000 agents nationwide. According to Ly Hour, the new company will focus on domestic money transfers, pre-paid mobile phone top-ups and bill payment services.

Source:

http://www.phnompenhpost.com/business/ly-hour-join-cash-transfer-market

Indian power firms eye Kingdom’s energy gaps

25 February 2016

More than 50 representatives of Indian energy firms attended the opening of the Powering Cambodia conference in Phnom Penh yesterday to explore investment opportunities in the field of electricity generation and distribution. Cambodia would face challenges in its goal to provide electricity to 100% of rural villages by 2020 and extend grid electricity to the majority of households by 2030.

Source:

http://www.phnompenhpost.com/business/indian-power-firms-eye-kingdoms-energy-gaps

PAL looks to operate direct flight to Cambodia

25 February 2016

Philippine Airlines (PAL) plans to enter Cambodian skies for the first time with the launch of a direct flight from Manila though whether the airline will serve Phnom Penh or Siem Reap has yet to be decided. PAL currently operates a fleet of 67 aircraft, with 44 more on order, and serves over 40 international destinations.

Source:

http://www.phnompenhpost.com/business/pal-looks-operate-direct-flight-cambodia

New garment factory to make cop, army attire

24 February 2016

Indonesian garment manufacturer has signed a memorandum of understanding with the Interior Ministry to establish a joint venture that will manufacture uniforms for the Kingdom’s police and military personnel. The $50 million venture, to be called Sritex Cambodia, will see the Indonesian firm set up a factory later this year.

Source:

http://www.phnompenhpost.com/business/new-garment-factory-make-cop-army-attire

New Border Link Expected to Boost Trade with Thailand

23 February 2016

Cambodia and Thailand are set to have a new international border crossing on National Road 5, linking Banteay Meanchey province and Thailand’s Sa Kaeo province. In December, Cambodia and Thai agreed to triple bilateral trade to $15 billion a year by 2020. And it is expected to get a boost when the rail line connecting Phnom Penh and Bangkok is completed. This is expected to occur by the end of this year.

Source:

http://www.khmertimeskh.com/news/21667/new-border-link-expected-to-boost-trade-with-thailand/

Kampot Pepper Successfully Registered as GI in EU

23 February 2016

Kampot Pepper (Mrech Kampot) has been successfully registered as a Cambodia’s geographical indication to receive protection. A geographical indication (GI) is a sign that identifies a product as originating from a particular location which gives that product a special quality or reputation or other characteristic. This year, Kampot pepper’s yield is expected to reach about 70 tons.

Source:

http://www.akp.gov.kh/?p=76690

Developers ink master plan for central business district

23 February 2016

Australian-listed property developer Kingsland Global Ltd has entered into a master cooperation agreement with a subsidiary of local developer Shukaku Inc to develop 10,000 square meters of prime real estate in Phnom Penh’s “central business district”. It expects to become an iconic landmark and build Phnom Penh City Centre on the site, an “eco-city” set to include hotels, housing, a central business district and more.

Source:

http://www.phnompenhpost.com/business/developers-ink-master-plan-central-business-district

Agro sector on a growth path

23 February 2016

The tonnage of Cambodia’s agricultural exports increased by over 20% last year, led by a surge in shipments of dried cassava chips. Cambodia shipped agricultural products to 35 countries last year. The next biggest agricultural product by export tonnage was rice, increasing by 39% to 538,000 tons. Natural rubber increased by 13.4% to 152,000 tons, while sugarcane increased by 47.5% to 111,000 tons.

Source:

http://www.phnompenhpost.com/business/agro-sector-growth-path

Mammoth year in Kingdom’s microfinance sector

19 February 2016

Cambodia’s microfinance sector experienced another year of explosive growth, with both lending and deposits surging over 40 per cent in 2015, according to new data by an industry association. The eight Cambodian MFIs licensed to accept deposits also experienced rapid growth. Their total deposits at the end of 2015 topped $1.3 billion, a 45% increase.

Source:

http://www.phnompenhpost.com/business/mammoth-year-kingdoms-microfinance-sector

Indian auto firms plan factories

19 February 2016

Two major Indian auto manufacturers are increasing their presence in Cambodia by setting up manufacturing facilities to target the potential in the Kingdom’s automotive sectors. Tata will look to import vehicles from India, but will supplement this with manufacturing operations possibly starting next year.

Source:

http://www.phnompenhpost.com/business/indian-auto-firms-plan-factories

133-Story Twin Towers Get Initial Approval

18 February 2016

The government is reviewing a mammoth $1-billion proposal by the Thai Boon Roong Group to build twin commercial skyscrapers in Phnom Penh which, if constructed, would be among the world’s tallest buildings. It is the 133-story would be situated on five hec­tares of prime real estate across from the NagaWorld casino—the current site of Dreamland amusement park “The project would need at least 3 or 4 years to complete”.

Source:

https://www.cambodiadaily.com/news/133_story_towers_approved-108645/

Alchemy adds more Cambodia business

18 February 2016

Singapore head quartered creative agency Alchemy has been appointed as the digital marketing agency for Total Cambodge in Cambodia. Founded in 2005, Alchemy handles a broad range of clients in Singapore and Cambodia, including Unilever, Heineken (Asia Pacific), Red Bull, F&N, Ford, Peugeot and Maki-San, amongst others.

Source:

http://www.marketing-interactive.com/alchemy-grows-cambodia-office-client-roster/

Firms ready to expand despite local skills gap

18 February 2016

A Eurocham business confidence survey has revealed that 81% of respondents – members of the business association – planned to increase investments and expand their operations in the Kingdom. Of the respondents, most were local SMEs with foreign ownership, with the top three sector represented being transportation and logistics, pharmaceutical and tourism firms.

Source:

http://www.phnompenhpost.com/business/firms-ready-expand-despite-local-skills-gap

French bank set to enter Kingdom

18 February 2016

French bank BRED Banque Populaire – part of the second-largest banking group in France – will start commercial operations in Cambodia later this year, marking the first foray for a European bank in the Kingdom since the late 1990s. Cambodia had 36 commercial banks, 11 specialised banks and nearly 50 microfinance institutions at the end of 2015.

Source:

http://www.phnompenhpost.com/business/french-bank-set-enter-kingdom

Cambodia Receives over US$332 Million for Clean Water Project Development

18 February 2016

Cambodia has received more than US$332 million as financial assistance for clean water development projects throughout the country. In early February that this financial assistance will improve the capacity of public water supply authorities in Cambodia, which will contribute to enhancing the people’s health and welfare.

Source:

http://www.akp.gov.kh/?p=76392

Thai Restaurant Chain Aims for Bite of Cambodian Market

17 February 2016

Thailand’s Wave Entertainment Plc will expand its steak restaurant chain to Cambodia next year. Wave Entertainment, which is listed on the Stock Exchange of Thailand, operates three businesses: Jeffer Restaurant, event organizer Index Creative Village Plc and Wall Street English. Thai businesspeople are interested in Cambodia because of its economic and political stability.

Source:

http://www.khmertimeskh.com/news/21464/thai-restaurant-chain-aims-for-bite-of-cambodian-market/

Insurance Industry Sees Double-digit Premium Growth

17 February 2016

Total premiums for general insurance rose 16.4% last year to about $61.6 million, from $53 million in 2014, with property, fire, vehicle and medical insurance leading the way. It is the fastest growing segment of insurance was property and fire insurance accounted for 39.7% of total premiums last year, followed by vehicle insurance at 15.1%, medical at 14.1%, personal accident at 6.8%, engineering at 5.8%, and marine, aviation, and transport at 4%.

Source:

http://www.khmertimeskh.com/news/21463/insurance-industry-sees-double-digit-premium-growth/

Brown set to perk up Siem Reap market

17 February 2016

Brown Coffee and Bakery will make its first foray outside the capital and open a new outlet later this year in tourist-heavy Siem Reap. It will unveil its first Siem Reap cafe in early June this year. There was a conspicuous increase in coffee consumption by Cambodian patrons in Siem Reap, who were looking beyond the traditional iced coffee options to more Western-styles of coffee making.

Source:

http://www.phnompenhpost.com/business/brown-set-perk-siem-reap-market

IFC offers Acleda Bank $50M for SME lending

17 February 2016

The International Finance Corporation (IFC) will provide a $50 million syndicated loan to Acleda Bank to boost lending to small and medium enterprises, of which at least half will support women-owned enterprises. The funding would allow Acleda Bank to reach more women-owned SMEs to help them grow and expand their businesses.

Source:

http://www.phnompenhpost.com/business/ifc-offers-acleda-bank-50m-sme-lending

Cambodia is Open for Investment, PM tells America

16 February 2016

Cambodia Prime Minister yesterday made a direct appeal to businesses in the United States to increase investment in Cambodia. Economist said the US market is especially important to Cambodian garment and footwear exports. In future it could export more agricultural products – including rubber, fruit, cashew and palm sugar – to the world’s largest market.

Source:

http://www.khmertimeskh.com/news/21410/cambodia-is-open-for-investment--pm-tells-america/

PTT mulls foray into local retail propane market

16 February 2016

Thai oil company PTT is looking to expand its retail liquefied petroleum gas (LPG) business into Cambodia and other Asian markets. The company sees a rising demand for LPG – a mixture of propane and butane – which is a clean-burning fuel used in homes, factories and vehicles. PTT would aim to increase the use of LPG in Cambodia to about 4 to 5% of the Kingdom’s total fuel market.

Source:

http://www.phnompenhpost.com/business/ptt-mulls-foray-local-retail-propane-market

Cambodia, Saudi Arabia Sign Agreement on Domestic Worker Recruitment

16 February 2016

Cambodia’s Ministry of Labour and Vocational Training and Saudi Arabian counterpart have reached the Agreement on Domestic Worker Recruitment which will ensure the rights and interests of Cambodian migrant workers. The agreement is an important instrument to protect the rights and benefits of the Cambodian migrant workers.

Source:

http://www.akp.gov.kh/?p=76293

Veggie farming to trim Kingdom’s import bill

15 February 2016

Government officials, economists and businesses discussed the implementation of a draft program to invigorate vegetable farming in the Kingdom and cut imports from neighbouring countries in half by 2018. Currently the Kingdom was importing close to 400 tons of vegetables a day, at a cost of $200 million a year.

Source:

http://www.phnompenhpost.com/business/veggie-farming-trim-kingdoms-import-bill

US trade treaty to aid Kingdom's TPP ambitions

15 February 2016

As Cambodia Prime Minister attends the US-ASEAN Summit in California today, it is in the midst of ongoing negotiations with their American counterparts to formulate a trade and investment agreement, which it could be joining the Trans-Pacific Partnership. “But certainly a trade deal with the US would enable Cambodia to pay much lesser duties and thus could expand our export volume.”

Source:

http://www.phnompenhpost.com/business/us-trade-treaty-aid-kingdoms-tpp-ambitions

Cambodia To Host Handicrafts and Souvenirs Trade Fair in April

15 February 2016

The Ministry of Commerce and its partners will host a Handicrafts and Souvenirs Trade Fair in Siem Reap cultural province in April this year. It will be held from 13-16 April 2016 in the compounds in front of the Angkor Wat Temple. The purpose of this four-day event is to promote and raise Khmer handicraft and souvenir products.

Source:

http://www.akp.gov.kh/?p=76223

Mining firm bags new licenses for two plots

11 February 2016

Mekong Minerals has successfully renewed the mining exploration licenses for two of its Cambodian tenements and expects permits on another two tenements to be granted soon. The Cambodian government has re-issued exploration licenses for Mekong’s Snoul and Phnum Khtung tenements, part of its Memot and Kratie North projects respectively. The renewed licenses are valid for up to six years.

Source:

http://www.phnompenhpost.com/business/mining-firm-bags-new-licences-two-plots

Cambodia Post inks deal with Kerry Express to extend reach

11 February 2016

Two of the Kingdom’s biggest package delivery services announced a tie-up yesterday that will extend the reach of their services to cover all corners of the country. It said “kill three birds with one arrow,” which are developing postal services in Cambodia, increasing confidence in postal services and helping develop the company’s online shopping service.

Source:

http://www.phnompenhpost.com/business/cambodia-post-inks-deal-kerry-express-extend-reach

ASEAN Still a Tough Market for Rice Exports despite AEC

10 February 2016

Cambodian rice exports are finding new markets and rising demand in ASEAN this year, but officials and exporters are not linking this to the ASEAN Economic Community (AEC), saying it was too early to tell what impact the regional trade bloc – which took effect at the end of last year – will have on rice exports. Cambodia exported 44,033 tons of rice – both white and fragrant – last month, up 22.6% from the 35, 921 tons in the same month last year.

Source:

http://www.khmertimeskh.com/news/21156/asean-still-a-tough-market-for-rice-exports-despite-aec/

Oil blocks to remain open

10 February 2016

The government said yesterday it would postpone bidding on two vacated offshore oil blocks given the low global levels of investment flowing into petroleum exploration activities. Given the current slump in global oil prices, the government will adopt a wait-and-see approach before issuing exploration licences to new firms. The Cambodian government has divided the country into six offshore blocks and 19 onshore blocks.

Source:

http://www.phnompenhpost.com/business/oil-blocks-remain-open

Giant sugar mill set to open in Preah Vihear

9 February 2016

A Chinese-owned agricultural company will inaugurate a $360 million sugar mill in northern Cambodia next month, in what is being billed as one of Asia’s largest sugar processing facilities. One of the company has already inked supply contracts with 100 local families, and has agreed to purchase sugarcane for between $38 and $40 per ton.

Source:

http://www.phnompenhpost.com/business/giant-sugar-mill-set-open-preah-vihear

Cambodia Earns Nearly US$9 Billion from Industrial Sector

9 February 2016

Last year, Cambodia earned some US$8,873 million from the industrial sector, up 20% over the previous year. Cambodia’s efforts to develop the industrial sector through promoting industrial diversification, supporting competitiveness enhancement as well as increasing productivity of factories, enterprises and handicrafts.

Source:

http://www.akp.gov.kh/?p=75889