Microfinance up on agriculture advance

The Kingdom’s growing agricultural sector is leading to more loans and deposits at microfinance institutions.

The small-scale lenders also credit the boost in Cambodia’s agro-industry for declining non-performing loans rates.

“We see that political stability and our economy are offering a strong climate for opening businesses or enlarging the businesses, leading to more demand for loans,” said Sathapana Microfinance Chief Executive Officer Bun Mony. “We don’t have any major challenges, as our performance has improved after being hard hit by the crisis.”

The MFI’s lending totalled $51 million to 4,900 borrowers at the end of June, whiles its NPL rate declined to 0.7 percent from 0.9 percent at the end of December 2010. Read more of this post

Advertisements

Work on Canadia rice mills begins

Canadia Bank  has begun construction on an US$8 million rice processing facility in Takeo province, aiming to process rice for export to the international market, company officials said.

Set up in the province’s Doun Keo district, the mill will be capable of processing up to 500 tonnes of paddy per day, Canadia Investment Department Manager Rien Samrith said.

“We want to invest in this province because of its potential for agriculture, and we want to push people to produce more rice,” he said.

Construction on the facility began earlier this month, and will be finished by September this year. Read more of this post

Vietnam Rubber Group helps Cambodian workers

The Vietnam Rubber Group’s (VRG) investment projects in Cambodia have helped improve living condition for local people, said Nguon Nhel, First Vice-President of the Cambodian National Assembly (NA). Read more of this post

ADB allocates $500 million for 3 years development plan in Cambodia

The Asian Development Bank (ADB) on Thursday announced a soft-loan package of 488 million U.S. dollars for a new Country Partnership Strategy for 2011-2013 in Cambodia.

The ADB’s resource investment plan is a strong focus on agriculture and natural resources, water supply and municipal development, transport, education, finance, public sector management, energy, and trade facilitation in the Great Mekong Sub- region Read more of this post

Cambodia begins to attract money

Cambodia, once regarded as a spill-over investment from Vietnam, is showing signs of standing on its own feet as frontier funds start to produce strong returns.

Frontier investors such as Leopard Capital – a private equity fund which launched a potential $100m Cambodia-focused fund in 2008 only to close with $34m – is now finding renewed interest in the country, holding the door open as other regional funds begin to sense an opportunity.

Vietnam’s largest asset manager, Vinacapital Investment Management, in January announced it would be expanding into Cambodia with a pledge to invest $100m, launching a dedicated fund targeting real estate, infrastructure, hospitality and agriculture investments. Read more of this post

Cambodian banks aim to ride agriculture boom

Cambodian banks are hoping that a surge in agricultural investment will bring in the customers they need to take out loans and put to work the cash flooding into the frontier market’s overcrowded banking system.

Cambodia, which is due to open a stock exchange this year, is attracting investment to rural areas as it seeks to move from exporting primary crops to milling rice and packaging seafood to sell abroad.

Foreign donors have vastly expanded rural road networks and firms from Vietnam, Thailand, Malaysia and beyond are scrambling to buy land and expand rubber and rice plantations. But while the streets of Phnom Penh are cluttered with bank branches and cash machines, banks have ignored rural areas. Read more of this post

Cambodian economy involved in the Global Green Growth Institute (GGGI)

Cambodia’s environment minister said his country’s green growth plan is making fine progress in its implementation thanks to the help of Korea and the Global Green Growth Institute (GGGI).

Minister Mok Mareth said activities with GGGI “strengthened environmental cooperation while pursuing sustainable economic growth, not only in Cambodia but also on a regional and a global scale to result in green growth through the exchange of ideas and experiences.” Read more of this post

Japan supports 4 irrigation system rehabilitation projects in Cambodia

The Japanese government has provided a total of US$378,342 to carry out four rehabilitations of irrigation systems under Japan’s economic cooperation framework, the Grant Assistance for Grassroots Human Security Projects (“KUSANONE” Grant). Read more of this post

Trade deficit to fuel growth

Cambodia’s trade deficit has been downplayed as a concern by experts as figures showed the Kingdom imported US$882 million more in goods than it exported during the first five months of this year.

Ministry of Commerce figures showed imports increased to US$2.65 billion in the first five months, a growth of 58 per cent on the corres-ponding period last year. 

Exports grew 47 per cent during the same period to $1.77 billion year-on-year.  Read more of this post

Cambodia Rice Export 2011- Cambodia can export high quality, and huge quantity rice to other countries

Cambodia can export high quality, and hug quantity rice to supply to other countries

With the recent effort from the Cambodia Royal Government, the high quality of the Cambodia rice herself and setting up of the international standard of rice millers. These factors lead Cambodia to get more and more attraction from rice importers from French, Poland, Russia, Sweden, Netherlands, New Zealand, China, America, and Africa. Significantly, the importers and wholesalers have repeated in larger quantity their purchase order after the first shipment done. This is because the importers have been accepted not only the high quality of Cambodia Rice, but also the huge quantity that is available to buy from Cambodia. Read more of this post