Author: Raksmey Hong
As China grapples with an economic slowdown, its ripple effects are being felt across Southeast Asia, with Cambodia among the countries closely watching the developments. Once a key driver of regional growth, China’s decelerating economy is raising concerns about its impact on Cambodia’s trade, investment and broader economic outlook. For years, Cambodia has benefited from China’s robust economic expansion, particularly through trade, investment and tourism. However, as China’s growth continues to slow, questions are emerging about how this shift will affect Cambodia’s economic trajectory. During a panel discussion at the 2024 Cambodia Banking Conference, held at the Sofitel Phnom Penh…
In a recent development that has stirred debate on social media, students from Hun Sen Kampong Kantuot High School and Balang Primary School publicly read statements in support of the Cambodia-Laos-Vietnam Development Triangle Area (CLV-DTA) project on August 17. The event, held in an open area near the national flagpole, featured young students expressing their support for the government’s initiative, sparking questions about the appropriateness of involving children in such activities. Government spokesman Pen Bona defended the students’ participation, stating that freedom of expression is a fundamental right enshrined in Article 41 of the Constitution. “Expressing support or disapproval of…
The National Productivity Centre of Cambodia (NPCC), under the Ministry of Industry, Science, Technology and Innovation, is conducting a 10-day seminar and training programme on “Auditing Management Systems”. The workshop aims to bolster the productivity and competitiveness of Cambodian enterprises. The event, which runs from August 19 to 30, underscores the critical role that effective auditing plays in ensuring compliance with international standards and improving the overall performance of the Kingdom’s businesses. During the opening ceremony, Phok Sovannrith, ministry secretary of state and country director for the Asian Productivity Organization (APO) – an intergovernmental organisation established to increase productivity throughout…
The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) have introduced new guidelines for their members. They require financial institutions to adopt a more flexible approach when dealing with clients who have used land as collateral, in a move to protect vulnerable borrowers. Under the new rules, banks and microfinance institutions are explicitly prohibited from coercing clients into selling their land to repay loans. Instead, these institutions are urged to engage in fair and flexible negotiations that prioritise the borrower’s ability to repay without resorting to the forced sale of their assets. “For clients with collateral,…
Recent reports from the Credit Bureau Cambodia (CBC) present a mixed picture of Cambodia’s credit market, with retail credit showing positive growth while small business lending experiences a decline. The findings, released for the second quarter of 2024 – from April to June – highlight varying trends across different sectors and regions – plateau, coastal, plains and the Tonle Sap. The Retail Credit Index report for Q2 2024 shows an increase in both the number of loan accounts and outstanding loan balances. The total number of retail loan accounts rose by 4.75%, reaching approximately 1.92 million accounts by the end…