The new service, called Angkor
Express Go, will transport goods along two main flight paths, with shipments
travelling between Phnom Penh and Siem Reap, and between Siem Reap and
Sihanoukville.
Source:
Friday, March 17, 2017
Thursday, March 16, 2017
Thais eye appliances market
16 March 2017
Thailand expects exports of
electrical and electronic components and devices to Cambodia to grow to about
$50 million this year due to high demand. Trade between Cambodia and Thailand
was worth $5.6 billion last year, up from $5.5 billion over the previous year.
Source:
US$60 Million Invested to Increase Domestic Pig and Feed Supply
16 March 2017
Chip Mong Group is investing about
US$60 million in a plant to produce pig feed and with facilities to raise and
supply pigs for the Cambodian market in order to reduce import of the product.
Source:
First submarine cable launched
16 March 2017
Cambodia’s first submarine
telecoms cable, costing $100 million, will strengthen existing internet
capacity and greatly increase connectivity speed at lower cost.
Source:
http://www.khmertimeskh.com/news/36511/first-submarine-cable-launched/
Wednesday, March 15, 2017
Microfinance to dry up? Experts say a new interest rate cap could cause dozens of MFIs to fold
15 March 2017
The central bank’s
unprecedented decision to slash microfinance's interest rates at 18 percent a
year with effect on April 1. Cambodia had 54 licensed MFIs and seven
microfinance deposit-taking institutions (MDIs) as of end-2016, with a total
1.9 million clients and a combined loan portfolio of $3 billion.
Source:
Tuesday, March 14, 2017
Casino tax revenue rises
14 March 2017
The government collected $48
million from the casino industry last year, a rise of about 40 per cent
compared with 2015. At the end of last year, 77 casino licenses were held in
Cambodia, 65 of which were in operation.
Source:
Central bank sets interest rate cap
14 March 2017
The National Bank of Cambodia
yesterday set an interest rate cap of 18 percent per annum for microfinance
institutions. The interest rate cap will come into force by April 1.
Source:
Friday, March 10, 2017
KDIC digs in to recover local Korean assets
10 March 2017
The Korean Deposit Insurance
Corporation (KDIC) has identified 10 local projects with a total value of $420
million – an amount that represents nearly 78.5 percent of all overseas assets
managed by the institution. KDIC has recovered a little over $15 million from
the Cambodian assets of defunct Korean institutions.
Source:
Direct flights to Shanghai
10 March 2017
Spring Airlines, China’s first
and largest budget carrier, will begin operating direct flights between Phnom
Penh and Shanghai as well as Shenzhen this month. Phnom Penh International Airport maintained
its double-digit growth at 10 percent, receiving some 3.39 million passengers
last year.
Source:
Mango exporter targets Hungary and Russia
10 March 2017
Mong Reththy Group, an
agro-industrial conglomerate that invested heavily in the mango sector, is
expanding markets for exports to Russia and Hungary. The country grew about 2.6
million metric tons of mangos in 2015.
Source:
BigPhone dials into local market
10 March 2017
Mobile World Investment Corp
(MWG) – one of the largest mobile phone and electronic products distribution
chains in Vietnam – will open its first store by this quarter in Cambodia,
operating under the name BigPhone.com.
Source:
Thursday, March 9, 2017
Angkor Air’s Macau route
9 March 2017
Tourists wanting to visit
Asia’s answer to Las Vegas will be able to fly from Preah Sihanouk province to
Macau after Cambodia Angkor Air unveiled the new route yesterday. This project
hopes to attract 2 million Chinese tourists to Cambodia by 2020.
Source:
License for Cambodia Investment Tax Service
9 March 2017
Cambodia Investment Tax
Service has become the 44th tax agent to get a license from the General
Department of Taxation (GDT) since the government made an effort to modernize
and make more efficient tax collection by using private companies. Tax revenue
in 2016 was about $1.49 billion, an increase of 14.94 percent over 2015.
Source:
HomePro mulls investment in Cambodia
9 March 2017
HomePro, a leading home
improvement retailer in Thailand, is mulling expansion to neighboring countries
– including Cambodia next year – with an investment budget of between $170
million and nearly $200 million.
Source:
Heineken cracks open a new local beer production facility
9 March 2017
Cambodia Brewery Ltd (CBL), a
wholly owned subsidiary of Heineken Asia-Pacific, inaugurated its second
brewery plant on the eastern outskirts of the capital yesterday. CBL invested
$100 million into the new facility, which will allow it to expand production of
its existing beer brands including Tiger, ABC, Anchor and Crown and add
Heineken.
Source:
Local airlines to face headwinds
9 March 2017
All four of Cambodia’s local
airlines – Cambodia Angkor Air, Sky Angkor Airlines, Cambodia Bayon Airlines
and Bassaka Air – have made China a focus of their international expansion. There
were around 400,000 annual domestic passengers and 7 million international
passengers last year
Source:
Friday, March 3, 2017
Traffic at Cambodia Airports Grow Double Digits in January
3 March 2017
Phnom Penh International
Airport welcomed almost 350,000 passengers in January 2017, an increase of 19.1
percent while Siem Reap International Airport handled almost 460,000
passengers, growing 15.2 percent year-on-year and Sihanouk International
Airport handled more than 400 flights movements, up 167.9 percent year-on-year
Source:
BRED Bank opens in Cambodia
3 March 2017
France’s BRED Bank, one of the
largest lenders in Europe, officially opened its first branch in Cambodia
yesterday with $30 million in investment capital, aiming to assist small and
medium-sized enterprises (SMEs) and boost imports and exports.
Source:
Love affair with Thai products
3 March 2017
Products from neighboring
Thailand are still considered the best for many Cambodian consumers, and this
is an incentive for Thai companies to set up branches in the country. The
bilateral trade between Thailand and Cambodia could be reached target of $15 billion
by 2020.
Source:
Wednesday, March 1, 2017
KDIC moves closer to assets
1 March 2017
Investigators from South
Korea’s state-run deposit insurer have announced that will open insurance
branch in Phnom Penh next month to advance efforts to recover Cambodian
property assets linked to bankrupt Korean savings banks.
Source:
Exports driving shift in Thai trade
1 March 2017
The value of Cambodian exports
to Thailand reached $936 million by the end of December, from $639 million a
year earlier. However, imports fell 6 percent to $4.6 billion during the same
period. Total bilateral trade declined slightly year-on-year, now at about $5.6
billion.
Source:
100 Benzes to hit streets
1 March 2017
Star Auto (Cambodia) Co. Ltd,
the authorized general distributor for Mercedes-Benz in Cambodia, is aiming
big. The company wants to sell around 100 luxury Mercedes-Benz cars this year,
which represents a fivefold increase compared with their sales last year. Star
Auto will now be able to import more Mercedes-Benz cars, which on average cost
about $300,000.
Source:
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