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

Advertisements

Vietnamese trade with Cambodia jumps 41%

The trade value between Viet Nam and Cambodia in the first five months rose by 41% to more than US$1 billion, the Viet Nam Trade Office in Phnom Penh said.

Viet Nam’s exports were worth $891 million, an increase of 139 per cent, while Cambodia’s exports rose by just 3.2 per cent to $124 million. Read more of this post

Bilateral Vietnam trade up with increasing imports

Cambodia’s bilateral trade with Vietnam has increased by 41 percent to the end of May compared to the period last year, according to figures from the Vietnam Trade Office in Phnom Penh.

The growth comes due to the increased presence of Vietnamese investors in the Kingdom, said Tran Tu, a trade attaché at the trade office.

“Now they are carrying out their investments, so they need to import raw materials and machinery in order to do business here. That’s why our exports to Cambodia rose dramatically,” he said.

Total bilateral trade for the first five months reached just over US$1 billion, a jump from $718 million in the same period last year, according to the Vietnam Trade Office in Phnom Penh.  Read more of this post