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The Agriculture Ministry is working to have more Cambodian rice exporters permitted to sell in China, as exports to the country have almost doubled in a year, according to government reports.
A pilot program providing short-term central bank funds in riel, primarily for microfinance institutions (MFIs), has struggled to attract applicants, highlighting the difficulties facing efforts to promote the local currency, and control interest and exchange rates.
Better roads and new events drew Khmer New Year celebrants to traditionally less busy provinces like Mondolkiri, Kompong Thom and Svay Rieng this year, as the number of visitors to more established destinations like Siem Reap and Preah Sihanouk provinces also rose, according to estimates from the Tourism Ministry.
As Cambodia goes through rapid development and economic growth, changes are being felt in the workplace as women look to make their mark in professions traditionally seen as male preserves.
When Pakk Yourng, a social science researcher, first came back to Cambodia after an absence of almost a decade, he was told that nobody goes to pagodas anymore to play traditional games in celebration of Khmer New Year.
Despite a growing lineup of digital payment apps in the country and predictions of a cashless society within 10 years, experts say major hurdles remain before such a system can catch on and become sustainable in Cambodia.
Cambodia cannot continue to rely on low wages to attract investment and must switch to developing skills, infrastructure and innovative industries in order to continue its record of robust economic growth, the Asian Development Bank said on Thursday.
The government’s cap on microfinance interest rates— largely panned as a clumsy policy that could cripple lenders—can nevertheless be an effective signal to the industry to slow down as the public’s indebtedness rises, the Asian Development Bank’s country director said on Thursday.
As a senior communications manager at an advertising company, Rom Molyka enjoys spending her disposable income on shopping, eating out and traveling.
The U.S. on Tuesday advised Commerce Ministry representatives on streamlining import-export systems and generally making trade with other nations easier during a workshop in Phnom Penh, held to help Cambodia comply with a World Trade Organization agreement to simplify cross-border trade.
The rise of e-commerce is continuing in Cambodia with the launch of the first cashless mobile app for restaurant food orders, with sponsorship from heavyweights such as Coca-Cola and Wing.
Japan will offer Cambodia more than $140 million in loans and grants for infrastructure, health care and flood mitigation projects, the Foreign Affairs Ministry announced on Tuesday.
With a lack of capital stifling the development of domestic digital innovation, one of the country’s largest mobile operators has teamed up with an investment consultancy to create a $5 million startup fund for Cambodian companies.
As Thailand’s workforce ages and production costs in the country’s manufacturing sector rise, experts and officials see Cambodia as an attractive alternative for companies looking for a younger, cheaper workforce. A lack of skills, however, is standing in the way of any sudden shift.
The central bank has tentatively agreed to help microfinance institutions—which will be saddled with a hard cap on interest rates as part of a populist government campaign—by offering them cheap loans, lowering license fees or delaying the imposition of a reserve requirement, finance company representatives said on Thursday.
A civil aviation training center was launched in Phnom Penh on Wednesday, three years after an agreement was signed with South Korea to fund the construction of the new facility.
Cambodia’s largest microfinance institution, Prasac, underwent a shuffle in shareholders this week as part of a multimillion dollar deal with one goal in mind: to transform into a licensed commercial bank.
Developers are planning to introduce timeshares, a business model for holiday homes that has run into some controversy in other countries, including Thailand, to Cambodia for the first time.
Reacting to the central bank’s announcement of a hard cap on interest rates, the chairman of an industry group representing 84 microfinance institutions on Wednesday said the association would request tax exemptions or cheap loans from the bank to make the arrangement viable.
A long-awaited $100 million undersea broadband cable connecting Cambodia, Malaysia and Thailand officially started testing on Wednesday, moving closer to operation following numerous construction delays.