Chief (Cambodia) Commercial Bank Plc (Chief Bank) has teamed up with local real estate company Zillennium Co Ltd as part of the bank’s plans to expand the user base of its ‘Chief Easy’ micro-lending app. A memorandum of understanding (MoU) was signed to this end on March 26, between Chief Bank CEO Soeung Morarith and Zillennium group chairman Kuy Vat. Under the partnership, Zillennium employees can apply for micro loans of $100-1,000 via Chief Easy with, special offers available. The MoU will also pave the way for additional partnerships between the two firms. Morarith said that Chief Easy will help…
Author: Hin Pisei
The protected Geographical Indication (GI) of Mondulkiri wild honey will be officially celebrated on March 27 at the Sen Monorom Park in Moldulkiri province’s Sen Monorom town, according to the Ministry of Commerce. Commerce minister Pan Sorasak is slated to preside over the ceremony, which will be attended by around 300 guests from foreign embassies, development partners and members of the Mondulkiri Wild Bee Conservarion Association (MWBCA). Application for the GI status was submitted to the ministry on December 10, 2020 along with supporting document from by the World Wild Fund for Nature (WWF Cambodia), the Cambodian Institute for Research…
Cambodia exported more than 48,000 tonnes of rubber to international markets in the first two months of the year, an increase of six per cent compared to the same period last year, netting more than $76 million, according to data released by the Ministry of Agriculture, Forestry and Fishery’s General Directorate of Rubber. The directorate said the total export in January and February was 48,509 tonnes, raking in $76.88 million. The average price of rubber during this period was $1,585 per tonnes, indicating a minor decrease over the same period last year. During the same period, 808 cubic metres of…
The government is placing a higher priority on the halal market to capitalise on buoyant internal and external demand, not only from the Muslim community, but also from non-Muslims worldwide, according to the chairman of the Commission for Examination of Halal Products in Cambodia (CEHP). Halal products are those deemed permissible under Islamic Law as defined in the religion’s holy book, the Quran. Certification that guarantees halal status, and that no perceived “haram” – or impermissible – ingredients or procedures were used in the manufacturing, processing or handling, is managed by the CEHP. The commission is under the Ministry of…
CONCH KT Cement (Phnom Penh) Co Ltd has completed a feasibility study on a more than $250 million Chinese-invested cement factory planned for northwestern Kampong Speu province, and is now working on the necessary legal procedures to break ground, according to the provincial governor. The factory will be located in Monorom village, Horng Samnam commune in the southeastern corner of Kampong Speu’s Oral district. Conch KT Cement is a joint venture between China’s Conch International Holding (HK) Ltd and local firm Battambang KT Cement Co Ltd. The joint venture currently manages another cement factory in Battambang province’s Ratanak Mondol district…
Climate change is substantially slowing down production of salt in Kampot province, Cambodia’s largest producer, and fears of a significant decrease in output may encourage imports of the commodity to supply domestic demand, according to insiders. The vast majority of the Kingdom’s salt farms are in Kampot and neighbouring Kep province. The harvest season typically falls between early January and May each year. Bun Narin, owner of Kampot-based Thaung Enterprise, told The Post on March 22 that March and April are the peak months of the harvest season, but that unseasonal rains – especially from last week with showers almost…
Bilateral trade between Cambodia and South Korea reached $195.124 million in the first two months of 2022, a 22.762 per cent surge from $158.945 million in January-February 2021, according to data provided by the Korea International Trade Association (KITA) on March 21. In January-February 2022, Cambodian exports to South Korea amounted to $64.554 million, down by 0.758 per cent year-on-year from $65.048 million, while imports clocked in at $130.570 million, rising by 39.056 per cent year-on-year from $93.897 million. Cambodia’s trade deficit with South Korea over the period widened by 128.829 per cent to $66.015 million, from $28.849 million during…
A new impetus in economic, trade and technical cooperation between Cambodia and Qatar will deliver a suite of economic benefits for the Kingdom, above all a driving force for exports to the Middle East and a major magnet to draw in more investors and tourists from the region, according to observers. On March 16, the Ministry of Commerce held an inter-ministerial meeting to discuss the contents of and push for an early finalisation of a draft agreement on economic, trade and technical cooperation between Cambodia and Qatar, attended by representatives from 12 ministries and institutions. Ministry undersecretary of state Penn…
The volume of imports and exports handled at the Sihanoukville Special Economic Zone (SSEZ) clocked in at about $437 million in the first two months of 2022, marking a 42.81 per cent rise year-on-year from $306 million, according to a statement released by the operator. For reference, company statistics show that January accounted for “more than $217 million”, which had been a 45.64 per cent rise over $149 million in January 2021. Preah Sihanouk provincial deputy governor Long Dimanche, who recently led an inspection team to assess developments at the SSEZ, ascribed this growth and production gains at the industrial…
Thai Vietjet Air on March 16 became the first foreign airline in two years to obtain an Air Operating Licence (AOC) from Cambodia, according to State Secretariat of Civil Aviation (SSCA) chief Mao Havannall. During the welcoming ceremony for the first Thai Vietjat Air passenger flight between Bangkok, Thailand and Phnom Penh on March 16, Havannall praised the airline’s management for its “endeavours to initiate the flight route at a time when the whole world, including Cambodia and Thailand, has endured serious impacts from the crisis caused by Covid-19 pandemic and, especially, at a time of high fuel prices as…