Direct Japan Flights Begin Tomorrow

31 August 2016

The first direct flight from Tokyo’s Narita Airport is expected to arrive at 3:10pm tomorrow, kicking off the new daily direct flight service between Cambodia and Japan. That is very good for Cambodia and Japan to tie up bilateral business trade increasable. That could attract more investors to Cambodia.

Source:

http://www.khmertimeskh.com/news/29129/direct-japan-flights-begin-tomorrow/

Deeper economy drives growth

31 August 2016

Cambodia’s economy will remain robust for the rest of this year with a growth rate of 7% despite global economic uncertainty, driven largely by the growth of the garment and service sectors. Cambodia collected $888 million in customs tax this year, and increase of 27%. The policymakers need to tackle the growing disparity in wealth and make economic growth more inclusive.

Source:

http://www.phnompenhpost.com/business/deeper-economy-drives-growth

Oxley remains upbeat on real estate projects

31 August 2016

Oxley Holdings Ltd, the Singaporean joint-venture partner behind the $500 million mixed-used development The Peak and the $300 million The Bridge, was still seeing positive sales growth in the two projects of The Bridge and The Peak. Buyers are increasingly shifting toward quality condominium developments.

Source:

http://www.phnompenhpost.com/business/oxley-remains-upbeat-real-estate-projects

Port officials chart course for maritime trade growth

31 August 2016

Port officials from ASEAN member states gathered in Phnom Penh yesterday to discuss ways of improving the region’s cargo port system and further standardising maritime trade procedures. It will discuss issues related to cargo clearance systems, implementing greater use of electronic management of goods and simplifying documentation requirements.

Source:

http://www.phnompenhpost.com/business/port-officials-chart-course-maritime-trade-growth

Cambodia To Have a 10 MW Solar Farm in Six Months

31 August 2016

Cambodia will put into use a 10-megawatt solar farm in the next six months. This is the first solar farm in Cambodia. It is located in Bavet city, Svay Rieng province. This US$12.5 million solar farm project will generate energy for the provincial use, and the energy will be also connected to the national grid.

Source:

http://www.akp.gov.kh/?p=86243

Minister of Mines and Energy Visits a Coal Power Plant Construction Site in Preah Sihanouk Province

31 August 2016

Cambodia’s Minister of Mines and Energy paid a visit to the construction site of a coal power plant in Stung Hav district, Preah Sihanouk southwestern province, yesterday. Currently, coal is one of major energy sources in Cambodia beside fossil fuels, biomass, hydro, and solar energy.

Source:

http://www.akp.gov.kh/?p=86260

Phnom Penh's NagaWorld casino targeted in audit

30 August 2016

The government is conducting an audit of NagaWorld in Phnom Penh to assess its tax liabilities on non-gaming operations after finding “discrepancies” last year that prompted the first-ever government probe of the landmark casino and entertainment complex’s finances.

Source:

http://www.phnompenhpost.com/business/phnom-penhs-nagaworld-casino-targeted-audit

Palm Sugar's GI Status

30 August 2016

Kampong Speu palm sugar is expected to receive its geographical indication (GI) status certification from the European Commission’s Directorate-General for Agriculture and Rural Development by the end of this year. It has been produced about 300 tons a year, and 20 tons were exported overseas, mainly to Vietnam and Thailand.

Source:

http://www.khmertimeskh.com/news/29070/palm-sugar-s-gi-status/

No Free Meal with FTAs

30 August 2016

Free trade agreement for all countries are able to trade freely, with no regional restrictions or barriers. If we want free trade to benefit the citizens of the world, we must double our efforts in reducing the NTBs [non-tariff barriers] and or NTMs [non-tariff measures]. Cross border transport procedures should be streamlined to facilitate trade.

Source:

http://www.khmertimeskh.com/news/29072/no-free-meal-with-ftas/

$12.5 Million Solar Farm Announced

30 August 2016

Construction on a $12.5 million solar farm in Svay Rieng province will begin in the next few days, and will feed 10 megawatts (MW) a day into the national grid. Cambodia generates 50% of its electricity from hydropower, which means it has to import electricity from Thailand, Vietnam and Laos to meet demand.

Source:

http://www.khmertimeskh.com/news/29071/-12-5-million-solar-farm-announced/

Cambodia, Japan to Sign Exchange of Notes on Extension of Grand Aid Worth ¥893 Million

30 August 2016

Cambodia and Japan will sign the Exchange of Notes and Record of Discussions on the extension of Grant Aid is 893 million Yen (almost US$9 million) on 31 August. This is for Expansion of Distribution Lines in Southern Economic Corridor. As well as to further strengthening the cordial and cooperative relations between the two countries.

Source:

http://www.akp.gov.kh/?p=86153

Cellcard – Fortumo Pact

29 August 2016

Cellcard, a leading mobile operator and a subsidiary of Royal Group last Friday reached an agreement with a mobile payments company Fortumo to officially launch their direct carrier billing partnership, which allows over four million Cellcard subscribers to pay for digital content by simply charging payments to their mobile phone bill.

Source:

http://www.khmertimeskh.com/news/29023/cellcard-----fortumo-pact/

Developer puts condo project The Bay on hold as supply glut looms

29 August 2016

The Singaporean developer behind The Bay, a $500 million mixed-use real estate project on the capital’s Chroy Changvar peninsula, has announced to delay (Hotel, Condominiums Projects) due to market conditions. It is time for competitors to earn the public’s confidence by investing in their project until it is completed.

Source:

http://www.phnompenhpost.com/business/developer-puts-condo-project-bay-hold-supply-glut-looms

Industrial park operator hopes to clinch land sales

29 August 2016

Industrial park operator Phnom Penh SEZ anticipates that net profit will expand more than 10-fold by the end of this year after it cements deals with two Japanese manufacturing companies next month and hopes to capture an additional six investors as tenants.

Source:

http://www.phnompenhpost.com/business/industrial-park-operator-hopes-clinch-land-sales

Uncertainty Spurs Gold Sales

25 August 2016

Cambodian shops dealing in gold are seeing a surge in sales compared to last year, as buyers favor the precious metal as a hedge against economic and financial uncertainty. Most of Cambodian who elder after retire from work would buy gold to trade. The gold could gain up the price for Khmer New Year and Pchum Ben for personal use.  

Source:

http://www.khmertimeskh.com/news/28902/uncertainty-spurs-gold-sales/

More angels coming in search of worthy investments

25 August 2016

Since a group of angel investors have visited Phnom Penh in search of startup investment opportunities, the organisation behind the initiative is planning an even bigger scouting mission in the Kingdom’s small but vibrant startup community. There are fourteen angel investors will join a delegation due to arrive early next month.

Source:

http://www.phnompenhpost.com/business/more-angels-coming-search-worthy-investments

A U.S. Financial Institution Signs a US$125 Million Direct Loan to ACLEDA Bank

25 August 2016

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development financial institution, signed a commitment letter for US$125 million direct loan to ACLEDA Bank Plc., in Cambodia. This direct loan will support all sectors through micro, small and medium enterprises (MSMEs).

Source:

http://www.akp.gov.kh/?p=85949

Direct Jakarta Flights Mooted

24 August 2016

Direct flights between Phnom Penh and Indonesia’s capital Jakarta may soon be a reality, if a current feasibility study by the country’s national airline, Garuda Indonesia, suggests it is viable. The flight time is only two and a half hours. Indonesia ranked seventh among Asean tourists to Cambodia last year, with 43,147 arrivals, and increase of 21% in 2015.

Source:

http://www.khmertimeskh.com/news/28843/direct-jakarta-flights-mooted/

Phnom Penh SEZ to construct factories for hire

24 August 2016

Phnom Penh SEZ will diversify its business model by injecting capital into building its own factories that can be leased to tenants of its flagship industrial park. It would invest up to 10 factories, which would be leased for 15 years contracts. Some investors need a short-term contracts that is more flexibility with their operations and lower startup costs.

Source:

http://www.phnompenhpost.com/business/phnom-penh-sez-construct-factories-hire

Up to $85M earmarked to develop agriculture sectors

24 August 2016

Cambodia’s rice sectors met with the International Fund for Agricultural Development (IFAD) to discuss the implementation of a five-year program to promote the Kingdom’s agricultural products. There will allocate $85 million toward the development of 10 different sectors of the country’s agriculture industry that finalized on 8 September.

Source:

http://www.phnompenhpost.com/business/85m-earmarked-develop-agriculture-sectors

Cambodia, Malaysia To Sign MoU on Tourism Sector in October

24 August 2016

Cambodia and Malaysia will sign MoU on tourism sector in upcoming October. It is sharing experience and knowledge on tourism sector; investment management and tourism product development; coastal, eco and community-based tourism management to enhance local people’s livelihoods, protect the environment and reduce migration.

Source:

http://www.akp.gov.kh/?p=85821

China’s July Diesel Exports Rise

23 August 2016

China’s diesel, gasoline and kerosene exports surged last month after state-owned refiners shipped excess fuel abroad as they struggled to compete in the domestic market with independent companies that sold at lower prices. Data from ICIS China for the week ending 11 August showed run rates at independents were 3% higher than the previous year at 44.6% of capacity.

Source:

http://www.khmertimeskh.com/news/28788/china---s-july-diesel-exports-rise/

Cashew Nut Sector in Trouble

23 August 2016

The Kampong Thom Cashew Nut Association wants assistance from the government as it currently faces financial problems and is unable to buy cashew nuts from growers to supply local and international markets. Last year slightly more than 103,000 tons of cashew nut were exported, with most of it going to Vietnam for processing.

Source:

http://www.khmertimeskh.com/news/28790/cashew-nut-sector-in-trouble/

Garment factories to buy into automation

23 August 2016

Garment industry’s Investors in Cambodia are increasingly purchasing modern equipment as they look to produce higher value-added products to compete in the international market and counter rising labour costs. The industry’s event is scheduled to open on 26 August 2016 at the Diamond Island Convention and Exhibition Centre.

Source:

http://www.phnompenhpost.com/business/garment-factories-buy-automation

Cambodian Foreign Minister To Attend the 10th Meeting of Cambodia-Thailand JC in Thailand

23 August 2016

Cambodia’s delegations will attend the 10th Meeting of the Joint Commission (JC) for Bilateral Cooperation from 25-26 August 2016 in Thailand. This meeting is talking about a wide range of issues of mutual interest with a view to enhance and expedite the on-going bilateral cooperation between Cambodia and Thailand.

Source:

http://www.akp.gov.kh/?p=85801

Yusen doubles its cold storage warehousing

22 August 2016

Yusen Logistics (Cambodia) unveiled its new temperature-controlled distribution centre in Phnom Penh earlier this month. The 3,000 square metre facility boasts 120 cubic metres of cold storage for chilled and frozen goods, nearly doubling the logistics firm’s current local capacity. Customers in the capital will be able to receive deliveries of regular and temperature-sensitive goods.

Source:

http://www.phnompenhpost.com/business/yusen-doubles-its-cold-storage-warehousing

Trade Fair to Cement India-Cambodia Ties

22 August 2016

Cambodia and India will host an Indian trade fair next month on 23 September in Phnom Penh. The present bilateral trade between both countries is $350 million. Cambodia exports footwear, rubber, fruit and nuts, limes, cement, salt and precious stones to India. In return, India exports pharmaceutical products, cotton and man-made fibers, leather, vehicles and plastic.

Source:

http://www.khmertimeskh.com/news/28743/trade-fair-to-cement-india-cambodia-ties/

Cambodia Attracts 1,500 Construction Projects in First Seven Months

22 August 2016

Seven months in 2016, Cambodia’s construction sector attracted a total investment capital of US$7,108 million, up some 719% from the same period of 2015. Currently, the sector received only 1,083 investment projects on an area of 2.7 million square meters. The construction sector is a major pillar of Cambodia’s economic growth.

Source:

http://www.akp.gov.kh/?p=85715

RoK President To Visit Cambodia in October

22 August 2016

Cambodian Prime Minister has announced the planned visit of President of the Republic of Korea (RoK) to Cambodia this year in October. PM of Cambodia has visit RoK a couple of time to promote the relations and cooperation between the two countries.

Source:

http://www.akp.gov.kh/?p=85739

First Joint Meeting for Nuclear Plant

18 August 2016

Cambodia and Russia yesterday started discussing plans for the construction of a nuclear power plant in the Kingdom as the country’s energy demand soars due to its economic growth. Cambodia needs to meet future energy demands and achieve energy security while supporting global efforts to reduce greenhouse gas emissions that cause climate change.

Source:

http://www.khmertimeskh.com/news/28623/first-joint-meeting-for-nuclear-plant/

NagaCity Walk gives capital a taste of duty-free shopping

18 August 2016

The NagaCity Walk has just opened this week. That is cost about a $94 million subterranean Shopping Centre in Phnom Penh. It is the first underground market in Cambodia that area to sell to duty free products and another area will sell goods produced in Cambodia. The shop is allowing both Cambodians and foreign tourists to shop.

Source:

http://www.phnompenhpost.com/business/nagacity-walk-gives-capital-taste-duty-free-shopping

Cambodia, South Korea ‘Smart’ City MoU

18 August 2016

Cambodia and the Republic of Korea have entered a memorandum of understanding (MoU) for three years span to establish ‘smart’ city in Preah Sihanouk province. This project will introduce for agricultural and animal farms as well as public service sites. It also includes public housing construction and human resource development efforts.

Source:

http://www.akp.gov.kh/?p=85563

50 U.S. Companies Interested in Investing in Cambodia

18 August 2016

Around 50 companies of USA are expected to invest in Cambodia shortly. It has lately granted duty free access for certain travel goods made in Cambodia, including suitcase, bag, push and wallet from Cambodia. USA also interested in investing in the manufacturing as it is Cambodia’s second largest market, after the European Union.

Source:

http://www.akp.gov.kh/?p=85565

Angkor Gold Hits the Jackpot

17 August 2016

Angkor Gold Corp., operated in Cambodia has completed its exploration and analysis of ground samples at its Koan Nheak site in Mondulkiri province. Around 31.8 grams per ton (g/t) of gold were found in the samples. It is trenching to map the subsurface structures and capitalize to highlight the gold mineralized zones.

Source:

http://www.khmertimeskh.com/news/28560/angkor-gold-hits-the-jackpot/

Demand for flour on the rise

17 August 2016

Wheat products have never had a big market in Cambodia, but Western is creating an appetite for flour products. If compared to the last five years, it has increased by 20% with supplies nearly 1,000 tons of flour per month to local bakeries. The company also imports directly from Australia and New Zealand to keep up with demand.

Source:

http://www.phnompenhpost.com/business/demand-flour-rise

Bassaka Air sticks to its routes

17 August 2016

Bassaka Air has said it plans to continue serving the Cambodian domestic market and also Chinese market. We hope it is more popular with Chinese Tourist and gamblers. Bassaka will likely suspend Phnom Penh-Siem Reap services as it expands in China as it never intended to compete in the domestic market.

Source:

http://www.phnompenhpost.com/business/bassaka-air-sticks-its-routes

Over 20,000 Biogas Stoves Made for Cambodian’s Daily Cooking

17 August 2016

Cambodia Ministry of Agriculture, Forestry and Fisheries and Netherlands Development Organisation (SNV) have been made over 20,000 biogas stoves Cambodian for daily cooking. It is aimed to raise public awareness on the benefits of biogas stoves linking with agricultural diversification and animal husbandry.

Source:

http://www.akp.gov.kh/?p=85488

Palm Oil Buyers Keep Shunning Malaysian Giant

16 August 2016

Leading global buyers of palm oil are holding off on mending business ties with Malaysian plantation giant IOI Group despite an industry watchdog’s decision to reinstate the producer’s green certification. IOI committed to engagement with all its stakeholders to re-engage the coming weeks and months.

Source:

http://www.khmertimeskh.com/news/28507/palm-oil-buyers-keep-shunning-malaysian-giant/

Vehicle Leasing Rebounds

16 August 2016

The Kingdom’s hire-purchase leasing market is on the rebound after the recent drought and enforcement of the 10% value added tax (VAT) slowed down motorcycle sales. The hire-purchase market is currently limited to a few companies and despite positive signs of growth.

Source:

http://www.khmertimeskh.com/news/28506/vehicle-leasing-rebounds/

Central Bank projects 7.1% growth in 2H16

16 August 2016

Cambodia National Bank held a seminar of economy of the fiscal year, forecasting 7.1% GDP growth for the rest of the year. Bank deposits and loans reached 67 and 80% of GDP, while inflation remained low at 2.8% over the period. The local currency exchange rate stood at around 4,044 riel to the US dollar.

Source:

http://www.phnompenhpost.com/business/central-bank-projects-71-growth-2h16

Cambodia Supports East Timor’s Full Membership in ASEAN and WTO

16 August 2016

Cambodian will help East Timor to apply a full member of the Association of Southeast Asian Nations (ASEAN) and World Trade Organisation (WTO). Cambodia also encouraged East Timor to import milled rice and sugar. Meanwhile Cambodia Prime minister is going to visit East Timor on 19 August 2016 to promote bilateral cooperation both countries.

Source:

http://www.akp.gov.kh/?p=85398

Italy to Seek New EU Deal

15 August 2016

Italy is to seek a new deal with the European Union to allow it to kick start its stalling economy with an expansionary 2017 budget. Other Italian newspapers were unanimous Saturday in predicting that Prime Minister Matteo Renzi would defy Brussels by presenting an expansionary budget in mid-October.

Source:

http://www.khmertimeskh.com/news/28451/italy-to-seek-new-eu-deal/

Miner finds more gold, silver at Cambodia site

15 August 2016

Australian-listed mining firm GeoPacific Resources Ltd has uncovered more evidence that its project in northern Cambodia is sitting on a major gold resource. It yielded a number of zones with high concentrations of gold and silver near the surface in a pattern that suggests a larger, deeper source of high-grade mineralisation.

Source:

http://www.phnompenhpost.com/business/miner-finds-more-gold-silver-cambodia-site

Oil firm ready to push ahead with offshore drilling

15 August 2016

Singapore-listed oil and gas firm KrisEnergy Ltd is moving closer to finalising its deal with the Cambodian government that will pave the way for extraction from the Block A offshore oil field once negotiations over a technical strategy and fiscal regime have been finalised.

Source:

http://www.phnompenhpost.com/business/oil-firm-ready-push-ahead-offshore-drilling

Exports to Japan Rise Sharply

11 August 2016

Cambodia’s total exports of garments and footwear to Japan increased sharply in the first half of the year. It exported to Japan rose by 32.7% about $565 million. Cambodia could learn from Japan on how to utilize international supply chains for manufacturing. The main products that Cambodia exports to Japan are garments, footwear, sugar, fish and seafood.

Source:

http://www.khmertimeskh.com/news/28319/exports-to-japan-rise-sharply/

NagaCorp profits up as casino packs in punters

11 August 2016

Nagacorp Ltd, the operator of NagaWorld casino in Phnom Penh, saw its net profit climb 24% during the first half of 2016 on “an increase in business volume across all segments of the gaming business”. Meanwhile, NagaCity Walk, a duty-free retail shopping centre set to occupy a tunnel connecting NagaWorld to the future Naga 2 mixed entertainment complex, will open this month.

Source:

http://www.phnompenhpost.com/business/nagacorp-profits-casino-packs-punters

International Agri-Livestock-Aqua Fisheries Expo Kicked Off

11 August 2016

The International Exhibition and Conference on Agriculture, Livestock, and Aqua Fisheries Industry for Cambodia was kicked off on 8 August which 40 companies from different countries participated. The exhibitors are from the United States, China, Malaysia, Chian’s Taiwan, Thailand, Korea, and Vietnam.

Source:

http://www.akp.gov.kh/?p=85110

Commerce Ministry Hosts Seminar on Cambodia-Malaysia Business Opportunities

11 August 2016

Cambodia’s Ministry of Commerce collaborated with Malaysia Trade and Investment Mission to Phnom Penh to organise here on Tuesday a Seminar on Cambodia-Malaysia Business Opportunities. They committed to strengthen and increase the Trade and investment cooperation between the two countries.

Source:

http://www.akp.gov.kh/?p=85122

Government to Push Fish Farming

9 August 2016

The government has set an annual target of producing 1.2 million tons of fish in farms within the next three years to support high local demand and to reduce the flood of imports from neighboring countries. Cambodia exported about 20 tons of fish last year worth about $40 million.

Source:

http://www.khmertimeskh.com/news/28196/government-to-push-fish-farming/

Swiss logistics giant settles in

9 August 2016

A giant agency, Swiss logistics and freight forwarding giant Panalpina opened a branch in Cambodia yesterday, offering its full line of ocean and air freight services to a growing market. It should also contribute to building transparency, reducing the demand on freight forwarders to pay bribes to government officials for import or export documents.

Source:

http://www.phnompenhpost.com/business/swiss-logistics-giant-settles

Reflecting Rural Sanitation Work Progress

9 August 2016

The Ministry of Rural Department hold a reflection workshop on Cambodia Rural Sanitation and Hygiene Improvement Program phase 2, at Himawari Hotel here in Phnom Penh from 9-11 August 2016. It is to join with government to reach its goal of ensuring 60% of Cambodians with access to improved sanitation across the country by 2018.

Source:

http://www.akp.gov.kh/?p=85061

Main Span of Koh Thom Bridge in Kandal Province Connected

9 August 2016

New bridge for Cambodian to boost to economy grow. This bridge is to connect the main span of Koh Thom Bridge across Tonle Bassac River in Koh Thom district, Kandal province. It is expected to complete at the end of 2016 or early 2017, cost some US$19.39 million. This is to boost trade and transportation links between the National Roads No.1 and No. 21.

Source:

http://www.akp.gov.kh/?p=85029

Monster sugar mill eats through sugarcane supply

8 August 2016

Just three months since starting production, Cambodia’s largest sugar mill is sitting idle due to a shortage of its primary input sugarcane. A factory has just opened in April, now could processing 20,000 tons of sugarcane per day, turning it into 2,000 tons of refined sugar for buyers in the EU, China and India.

Source:

http://www.phnompenhpost.com/business/monster-sugar-mill-eats-through-sugarcane-supply

World Bank Tries to Be Human

8 August 2016

The World Bank on Thursday adopted a new set of policies aimed at preventing its projects from harming people and the environment. The new rules are to take effect in 2018, this projects will have to reduce environmental harm and avoid large-scale population displacements.

Source:

http://www.khmertimeskh.com/news/28142/world-bank-tries-to-be-human/

Tapping into the Digital Marketing World

8 August 2016

Cambodia’s economy has continued to increase at 7% and this small country has attracted about $19.2 billion in foreign direct investment (FDI) from 1994 to 2014. Up to date, the advertising spends millions dollars, and digital advertising has become a more efficient tool in attracting millions of viewers.

Source:

http://www.khmertimeskh.com/news/28145/tapping-into-the-digital-marketing-world/

New Condo Aimed at Local Investors

5 August 2016

Star5 Development and the Skyland Company have formed a joint venture, with approximately $20 million in investment capital, to develop an affordable condominium named Skyland Condo aimed at local investors. The sector is now strong, many Cambodians who could earn $800 to $1,000 a month may be able to afford one.

Source:

http://www.khmertimeskh.com/news/28095/new-condo-aimed-at-local-investors/

SEZs hold key to economic corridor growth

5 August 2016

Industrial parks that offer special privileges to companies that operate inside them play a dominant role in attracting investment in the region, but countries must focus more on building up their infrastructure and human resources to take advantage of increased connectivity.

Source:

http://www.phnompenhpost.com/business/sezs-hold-key-economic-corridor-growth

Expat Market for Serviced Apartments

5 August 2016

The serviced apartment market is still popular with expats, while some existing apartments that have not been upgraded could see a sharp fall in tenancy occupancy rates. The occupancy rates across the entire Phnom Penh serviced apartment market currently stands at 85.8%. CBRE stated that there were 6,494 serviced apartment units.

Source:

http://www.khmertimeskh.com/news/28094/expat-market-for-serviced-apartments/

Firms flimsy on corporate governance

5 August 2016

Cambodia has an opportunity to improve its corporate governance, addressing issues in this field that are increasingly important to international companies considering investment. If compare to 5 years ago, the government has changed enforcing laws and taxes. It will not take much longer for business in Cambodia to grow strong.

Source:

http://www.phnompenhpost.com/business/firms-flimsy-corporate-governance

New ISP aims to compete on quality, not low pricing

5 August 2016

The newest internet service provider (ISP), Today Communication, will join a busy market in Cambodia to compete the quality not the low price. If ISP A is very cheap but offers poor service – and ISP B is 99% run on time but is much pricier, customer will choose ISP B every time.

Source:

http://www.phnompenhpost.com/business/new-isp-aims-compete-quality-not-low-pricing

Call to Revise Rubber Tax

4 August 2016

As the price of natural rubber tumbles due to a slowdown in the global economy and falling demand for the commodity, Cambodian investors are now calling on the government to revise export taxes. The price of rubber was about $1,400 per ton on average last year, but fell below $1,050 per ton this year. It was $4,500 a ton in 2011.

Source:

http://www.khmertimeskh.com/news/28028/call-to-revise-rubber-tax/

For Abe, It’s the Economy

4 August 2016

Japanese Prime Minister said that the top priority for his reshuffled cabinet was the economy and that he would do his utmost to lift the country out of deflation. Tokyo stocks have also sold off on concerns that the latest fiscal stimulus package does not contain enough new and direct spending and is spread over several years, diluting its economic impact.

Source:

http://www.khmertimeskh.com/news/28027/for-abe--it---s-the-economy/

Derivatives licences handed out

4 August 2016

Cambodia's capital market regulator officially granted its first round of derivatives trading licences this week, nearly 10 months after it vowed to formally regulate the inherently risky financial instrument and provide investors with more options to earn profits.

Source:

http://www.phnompenhpost.com/business/derivatives-licences-handed-out

Securities companies to provide market liquidity

4 August 2016

A new initiative aimed for more trading on stock exchange will allow securities underwriters and dealers to become liquidity providers who can hold and trade shares in listed companies. If it is successfully executed it will increase the liquidity in the stock market, which could make more attractive to investors.

Source:

http://www.phnompenhpost.com/business/securities-companies-provide-market-liquidity

A Company Interested in Investing in Sugarcane and Acacia Plantation in Cambodia

4 August 2016

Rui Feng (Cambodia) International Company Limited has shown its interest to invest in sugarcane and acacia plantation in Preah Vihear province. The planned investment will be conducted on an area of 8,841 ha in Chhep district, Preah Vihear province.

Source:

http://www.akp.gov.kh/?p=84806

More Roads, Railways and Money

3 August 2016

Minister of Public Works and Transport asked China to lower the interest rate of its concession loans to the Kingdom for improving infrastructure nationwide, build roads and railways. Also, between 1994 and 2013, Chinese investment in Cambodia was about $10 billion, focused mainly on agriculture, mining, infrastructure projects, hydro-power dams and garment production.

Source:

http://www.khmertimeskh.com/news/27960/more-roads--railways-and-money/

Sihanoukville Cargo Rises

3 August 2016

Sihanoukville Autonomous Port (SAP), the Kingdom’s largest maritime container hub, reported a 6% increase in cargo shipments in the first six months of the year, while tonnage rose by 10% in the same period. The SAP handled sea cargo from South Korea, Japan, the Philippines, China, Taiwan and Vietnam.

Source:

http://www.khmertimeskh.com/news/27958/sihanoukville-cargo-rises/

CLMV expected to attract 24 million tourists in 2016

3 August 2016

The four countries that make up the CLMV region – Cambodia, Laos, Myanmar and Vietnam – received a combined total of 10 million foreign tourists during the first five months of 2016 and are expected to top 24 million foreign visitors by the end of the year and expected to attract 28.5 million visitors in 2018.

Source:

http://www.phnompenhpost.com/business/clmv-expected-attract-24-million-tourists-2016

Cambodian, Chinese Commerce Ministers Hold Bilateral Talks

3 August 2016

Ministry of Commerce of Cambodian and Chinese met yesterday for strengthening bilateral trade. According to news release, the duty free quota free treatment, rice trade, export of agriculture products to China, organisation of trade and investment forum in China to promote investment and technical assistance to be provided by China to Cambodia.

Source:

http://www.akp.gov.kh/?p=84769

Financial Literacy in Schools

2 August 2016

Financial literacy will now be in the general education curriculum due to joint efforts by the National Bank of Cambodia (NBC) and the Ministry of Education, Youth and Sport (MoEYS). It will help students manage their money, which will be useful when they are adults ‒ if they want loans from microfinance institutions and this is good for the whole nation.

Source:

http://www.khmertimeskh.com/news/27905/financial-literacy-in-schools/

Timber baron branches into fuel

2 August 2016

Popular Timber tycoon in Cambodia launch a new business venture names PAPA Petroleum Co Ltd. The company recently announced a partnership with Hong Kong’s Hutchison Port Holdings to construct a $300 million port in Kampot province, and in May signed an agreement with a Chinese company to import conditioning units.

Source:

http://www.phnompenhpost.com/business/timber-baron-branches-fuel

Banking is top sector for online hires: study

2 August 2016

The banking sector was the Kingdom’s top hiring industry during the second quarter of 2016. The results reflect the rapid expansion of Cambodia’s financial sector, which is driving economic development, with the domestic credit market growing 27% in 2015 on rising demand for consumption and construction.

Source:

http://www.phnompenhpost.com/business/banking-top-sector-online-hires-study

Crude Palm Oil Exports Rise 116%

1 August 2016

The export of crude palm oil (CPO) from agro-industrial conglomerate Mong Reththy Group reached 13,000 metric tons in the first six months this year, up a huge 116% compared to 2015. Mong Reththy’s $20 million CPO plant, a joint venture with the Thailand-based TCC Group, is the first factory in Cambodia to produce raw palm oil for domestic consumption and export.

Source:

http://www.khmertimeskh.com/news/27856/crude-palm-oil-exports-rise-116-/

Emerald’s gold search heads to fresh territory

1 August 2016

Australian mining firm Emerald Resources is preparing to commence first-pass test drilling on its O’Rman prospect in northeastern Cambodia, where soil assays from augur samples have indicated the presence of gold mineralisation. And the drilling operations would begin by the end of the wet season in November.

Source:

http://www.phnompenhpost.com/business/emeralds-gold-search-heads-fresh-territory