Business

Workers fill bags with freshly harvested corn in Phnom Penh’s Russey Keo district in 2012.

Government opens $27M emergency fund to corn farmers

The government has officially made $27 million in emergency funds, initially intended for the rice sector, available for strugg

Wed, 26 July 2017 Cheng Sokhorng
Customers walk out of a Canadia Bank branch in Phnom Penh last month.

IMF urges boost to tax system

Cambodia’s economy continues to perform strongly, but the government will face rising spending pressures that need to be tackled by enhanced revenue collection through more stringent tax measures to contain near-term deficits, the International Monetary Fund (IMF) said yesterday at the conclusion of its annual Article IV consultation. “Cambodia over the medium term faces several important pressures relating to development including improving infrastructure,” said IMF economist Jarkko Turunen. “And as Cambodia moves up in terms of income, the sources of [government] income will change and the country will receive fewer grants as a higher income economy.”

Wed, 26 July 2017 Kali Kotoski
Party flags flutter atop a CPP billboard in front a microfinance office in Kandal province’s Takhmao town yesterday.

CMA issues code of conduct for local MFIs

The Cambodia Microfinance Association (CMA) issued an announcement yesterday which further attempts to distance lending institutions from the realm of politics following an aggressive push by the government earlier this year to diff

Wed, 26 July 2017 Hor Kimsay
A Chinese tourist gets a massage at a beach in Sihanoukville earlier this year.

Wave of Sihanoukville visitors grows

Tourist arrivals to the premiere beach destination in Preah Sihanouk province have increased by nearly 15 percent during the first half of this year reaching 1.2 million visitors, showing that government efforts to make it the next big destination are starting to pay dividends, according to the latest figures from the Tourism Department. Taing Socheat Kroesna, director of the Preah Sihanouk Provincial Tourism Department, said that the rise in tourists is due to better infrastructure that allows for easier access to Sihanoukville’s beaches. “Tourists are flocking to our province because we have improved our facilities,” he said.

Tue, 25 July 2017 Cheng Sokhorng

IMF tweaks key outlooks, leaves world forecast alone

The International Monetary Fund (IMF) kept its growth forecasts for the world economy unchanged for this year and next while revising its projections on key economies, with forecasts for China and the eurozone upgraded and expectati

Tue, 25 July 2017 Cam McGrath
A man counts a stack of Cambodian riel currency in Phnom Penh.

US dollar used to curb inflation

Cambodia’s central bank purchased a total of $479.4 million worth of cash during the first half of this year to convert to riel, utilising one of the few tools the National Bank of Cambodia (NBC) has to stabilise the value of the lo

Tue, 25 July 2017 Hor Kimsay

Progress report given on Mondulkiri gold mine

Cambodia’s Minister of Mines and Energy Suy Sem recently met with representatives from the Australian mining firm Renaissance Minerals Cambodia Ltd to discuss the progress of the Okvau and O’Chhung gold mining projects in Mondulkiri

Mon, 24 July 2017 Post Staff

Kingdom to host forum with Eurasian nations

Cambodia and the Eurasian Economic Union (EAEU), an economic block of countries that includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, will hold a business forum in Phnom Penh in early December, state-owned news agency A

Mon, 24 July 2017 Post Staff
The Cambodian national flag flies on top of the National Bank of Cambodia’s headquarters earlier this year in Phnom Penh.

With continued growth, Cambodia’s finance sector aims for stability

The Kingdom’s financial sector continued to expand robustly during the first half of this year with outstanding loans and deposits increasing compared to the same period last year, reflecting sustainable development and growing publ

Mon, 24 July 2017 Hor Kimsay
iCare Benefits Cambodia Country Director Molika Meas photographed at her office last week in Phnom Penh.

Business Insider: Spreading care with worker benefits

With the majority of garment and low-income workers ineligible for traditional financial services to purchase daily products like mobile phones and cooking stoves, iCare Benefits Cambodia hopes to fill in the gap by getting products to end consumers. With the Cambodian operations having recently been given a boost from a private equity fund, The Post’s Kali Kotoski sat down with Country Director Molika Meas to talk about the company’s expansion plans. PPP: What is the history of iCare Benefits? MMM: The company started four years ago with the mission to provide workers with immediate access to essential products and services.

Mon, 24 July 2017 Post Staff