Rice price stabilised thanks to increase in supply, federation says

The Green Trade Company and the Cambodia Rice Federation (CRF) on Wednesday said increasing the supply of milled rice in the local market has helped stabilise prices as the country faces the threat of the Covid-19 pandemic.<br /> <br /> Earlier this month, a significant number of people were reported to be stockpiling staple goods like rice in fear that the outbreak of the novel coronavirus could lead to shortages.<br /> <br /> CRF vice-president Chan Sokheang told The Post that to prevent shortages of important commodities like rice, the government and the private sector were working together to increase shipments of the grain to local shops by 100 to 500 tonnes.<br /> <br /> <div class="separator" style="clear: both; text-align: center;"> <a href="https://1.bp.blogspot.com/-nF3q9LDWfJM/XnXLCpQsKfI/AAAAAAAAAUQ/Wp5prNTV7aczt6CFZhv4xMFhOXi7Lh8DACNcBGAsYHQ/s1600/hean-rangsey-rice-supply.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://1.bp.blogspot.com/-nF3q9LDWfJM/XnXLCpQsKfI/AAAAAAAAAUQ/Wp5prNTV7aczt6CFZhv4xMFhOXi7Lh8DACNcBGAsYHQ/s640/hean-rangsey-rice-supply.jpg" width="640" /></a></div> <br /> “Sales of rice is still strong and the price is stable,” he said, adding that people can buy rice at the Green Trade Company, a state-owned enterprise with branches in Phnom Penh’s Daun Penh and Russey Keo districts.<br /> <br /> A representative of Green Trade Company said the company has been selling about one tonne of rice per day since March 9.<br /> <br /> “A lot of locals are buying rice from this store at a very good price,” he said.<br /> <br /> Rice can also be purchased at Amru Rice (Cambodia) Co Ltd, Mekong Oryza Trading, Baitong Rice Export Company, Khmer Food Group and through rice millers.<br /> <br /> In a recent press release, CRF urged the public to avoid panic buying.<br /> <br /> “Please don’t panic. There is plenty of rice. If you panic the price of rice will shoot up,” it said.

Rice price stabilised thanks to increase in supply, federation says

The Green Trade Company and the Cambodia Rice Federation (CRF) on Wednesday said increasing the supply of milled rice in the local market ha...

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Minister requests FAO’s help to boost lagging dairy sector

<div class="separator" style="clear: both; text-align: center;"> <a href="https://1.bp.blogspot.com/-p6rhF9AYjwM/XnXIWF62HYI/AAAAAAAAAUE/xDwhCa1Up647kebWwStuygHbtkMT4jx2wCNcBGAsYHQ/s1600/ministry-requests-faos-help-to-boost-lagging-dairy-sector.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://1.bp.blogspot.com/-p6rhF9AYjwM/XnXIWF62HYI/AAAAAAAAAUE/xDwhCa1Up647kebWwStuygHbtkMT4jx2wCNcBGAsYHQ/s640/ministry-requests-faos-help-to-boost-lagging-dairy-sector.jpg" width="640" /></a></div> <br /> Cambodia has asked the UN Food and Agriculture Organisation (FAO) to support the dairy sector here.<br /> <br /> The request was made on Wednesday by Minister of Agriculture, Forestry and Fisheries Veng Sakhon during a meeting with FAO representative in Cambodia Alexandre Huynh.<br /> <br /> Sakhon said the dairy sector in the Kingdom continues to underperform despite the ministry’s best efforts. He requested FAO’s intervention given the importance of milk in Cambodian children’s diets.<br /> <br /> “I asked the FAO and other development partners to consider supporting the dairy sector because milk is nutritious and a very important part of children’s diets, especially in rural areas,” he said.<br /> <br /> With FAO’s support, the number of dairy farms in the Kingdom could grow significantly, he said.<br /> <br /> There are only a handful of commercial dairy farms in the Kingdom, which means Cambodia imports most of its milk.<br /> <br /> Huynh agreed on the importance of milk in the diet of Cambodian children and promised to follow up on the minister’s request.<br /> <br /> Mao Sokunthea, the sales representative of Techo Sen Russey Treb Milk, told The Post on Thursday that despite the high demand for milk in the market, investment on dairy farms here was minimal.<br /> <br /> More investment in the sector would reduce milk imports and create new jobs, she said.<br /> <br /> “I support the minister’s request. We need more investment in the sector. We need to promote local dairy products and to up their standards,” she said.<br /> <br /> Techo Sen Russey Treb Milk is located in Preah Vihear province and has 100 cows. The firm produces 600 litres of milk a day.

Minister requests FAO’s help to boost lagging dairy sector

Cambodia has asked the UN Food and Agriculture Organisation (FAO) to support the dairy sector here. The request was made on Wednesday b...

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Lufthansa: Virus endangers ‘future of aviation’ without aid

<div class="separator" style="clear: both; text-align: center;"> <a href="https://1.bp.blogspot.com/-QURt5isuZWk/XnXH2z8n-rI/AAAAAAAAAT8/4ZpUgsnIJoIe9flDaNvLuqlbf7xuNRe_QCNcBGAsYHQ/s1600/some_700_of_lufthansas_763.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://1.bp.blogspot.com/-QURt5isuZWk/XnXH2z8n-rI/AAAAAAAAAT8/4ZpUgsnIJoIe9flDaNvLuqlbf7xuNRe_QCNcBGAsYHQ/s640/some_700_of_lufthansas_763.jpg" width="640" /></a></div> <br /> The chief executive of German airline giant Lufthansa warned Thursday that governments might need to save the industry from the coronavirus crisis, as “drastic cutbacks in flight operations” have grounded over 90 per cent of its planes.<br /> <br /> Some 700 of Lufthansa’s 763 aircraft are “temporarily parked” following massive reductions in its flight operations over the coming weeks “due to entry restrictions in many countries and a collapse in demand,” the group said.<br /> <br /> “The longer this crisis lasts, the more likely it is that the future of aviation cannot be guaranteed without state aid,” chief executive Carsten Spohr said in a statement.<br /> <br /> A “relief flight schedule” set to run until April 19 will see Lufthansa and its subsidiaries operate “a total of about five per cent of the originally planned programme,” with Austrian Airlines suspending almost all flights until March 28 and Brussels Airlines between March 21 and April 19.<br /> <br /> Meanwhile the group’s flagship airline will operate remaining long-haul flights from Frankfurt only, wiping out departures from second German hub Munich.<br /> <br /> Lufthansa planes will also carry out “around 140 special relief flights” for over 20,000 passengers, as governments in its carriers’ home countries repatriate citizens stranded abroad after travel restrictions slammed down.<br /> <br /> And its cargo division’s aircraft will remain airborne, continuing its regular flight plan apart from connections with mainland China.<br /> <br /> “The company is currently examining the possibility of using passenger aircraft without passengers . . . to further increase cargo capacity,” Lufthansa said.<br /> <br /> Finance director Ulrik Svensson added that the group is “financially well equipped” to weather the corona storm, with €4.3 billion [$4.7 billion] of liquidity on hand.<br /> <br /> Lufthansa also has “unused credit lines” and “further funds are currently being raised,” the group said.

Lufthansa: Virus endangers ‘future of aviation’ without aid

The chief executive of German airline giant Lufthansa warned Thursday that governments might need to save the industry from the coronavir...

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Cambodia, Japan reaffirm trade commitments amid virus crisis

<div class="separator" style="clear: both; text-align: center;"> <a href="https://1.bp.blogspot.com/-HuwfHDWMZXQ/XnXGg80Qd0I/AAAAAAAAATw/WZhwxgMPvkQXrFdxMLBq6AVGMXxrePFLQCNcBGAsYHQ/s1600/aeon_mall_a_japanese-owned_shopping_mall_in_phnom_penh._supplied.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://1.bp.blogspot.com/-HuwfHDWMZXQ/XnXGg80Qd0I/AAAAAAAAATw/WZhwxgMPvkQXrFdxMLBq6AVGMXxrePFLQCNcBGAsYHQ/s640/aeon_mall_a_japanese-owned_shopping_mall_in_phnom_penh._supplied.jpg" width="640" /></a></div> <br /> Japan and Cambodia have pledged to reach $2 billion in bilateral trade this year despite the impact of the novel coronavirus on the economy.<br /> <br /> Speaking at a meeting on Monday between senior Cambodian and Japanese officials, Ministry of Foreign Affairs and International Cooperation spokeswoman Chea Kimtha said trade between the two nations this year will be substantial despite the impact of Covid-19.<br /> <br /> Last year, bilateral trade exceeded the $2 billion mark, and for 2020 the countries have pledged to achieve at least $2 billion, she said.<br /> <br /> “The officials committed to expanding trade and investment between the two countries, and agreed to urge the relevant institutions to work closely together to improve the investment environment in Cambodia to attract more Japanese investors,” she said.<br /> <br /> Kimtha said during the meeting, Cambodian officials acknowledged the active role Japan is playing in the socio-economic development of Cambodia and expressed gratitude for its support in several areas.<br /> <br /> “The Japanese side reaffirmed its commitment to continue assisting Cambodia, especially in priority sectors such as logistics, infrastructure, industry and human capacity building,” she said.<br /> <br /> Cambodia Chamber of Commerce vice-president Lim Heng highlighted the role of the Mekong-Japan cooperation strategy in increasing trade.<br /> <br /> “This strategy is key to attract Japanese investors. The agriculture sector, in particular, has great potential for Japanese investors,” he said.<br /> <br /> Since 1995, Cambodia has welcomed 141 Japanese investment projects, worth a combined $2.5 billion, according to data from the Council for the Development of Cambodia (CDC).<br /> <br /> Most of these projects were in the energy, electronic component assembly, auto spare parts, agriculture, food processing, hospitality, health and retail sectors.<br /> <br /> Sixty-six of these projects were in special economic zones, with an estimated capital investment of $340 million.<br /> <br /> Cambodia exported more than $1.7 billion worth of products to the Japanese market last year, an increase of 7.7 per cent from 2018, said the Japan External Trade Organisation (Jetro).<br /> <br /> The Kingdom imported over $563 million worth of products from Japan, a 33.4 per cent increase.

Cambodia, Japan reaffirm trade commitments amid virus crisis

Japan and Cambodia have pledged to reach $2 billion in bilateral trade this year despite the impact of the novel coronavirus on the econo...

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Cambodian rice sees decline in exports to the international market

<div class="separator" style="clear: both; text-align: center;"> <a href="https://1.bp.blogspot.com/-H0PB-BJei3s/XBMK1C_-9hI/AAAAAAAAAHk/yu5sy1Ke09cgaf7_KOsBaxIcRMMdyX7_wCLcBGAs/s1600/cambodias-rice-exports-to-the-international-market-fell-more-than-13-per-cent-for-the-first-11-months-this-year.-hong-menea.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://1.bp.blogspot.com/-H0PB-BJei3s/XBMK1C_-9hI/AAAAAAAAAHk/yu5sy1Ke09cgaf7_KOsBaxIcRMMdyX7_wCLcBGAs/s640/cambodias-rice-exports-to-the-international-market-fell-more-than-13-per-cent-for-the-first-11-months-this-year.-hong-menea.jpg" width="640" /></a></div> <br /> Cambodia's rice exports to the international market fell more than 13 per cent for the first 11 months of the year, compared to the same period last year, a report by the Secretariat of One Window Service for Rice Export Formality said.<br /> <br /> It showed a drop in exports to the international market in the first 11 months of the year, accounting for 497,240 tonnes – down from 562,237 tonnes in the same period last year.<br /> <br /> Industry insiders have repeatedly said the decline is due to the lack of stockpiles and competition with neighbouring countries.<br /> <br /> <b>Reason for decline</b><br /> <br /> The vice-president of the Cambodian Rice Federation, Hun Lak, told The Post on Tuesday that the Kingdom's rice exports have dropped almost every month this year. He said the fall is due to a lack of stockpiles during harvest season and price competition with neighbouring countries.<br /> <br /> "In the second and third quarters, the price of Cambodia's jasmine rice was higher than neighbouring countries by $30 to $40 a tonne and this is the reason for the decline in exports," he said.<br /> <br /> Cambodia pledged to send one million tonnes of rice per year to the international market by 2015, but only exported 538,396 tonnes in 2015, 542,144 tonnes in 2016, and 635,679 tonnes last year.<br /> <br /> <b>'Many challenges'</b><br /> <br /> In November this year, Cambodia's rice exports only equalled 62,433 tonnes, down from 70,112 tonnes in the same month last year.<br /> <br /> "With the current situation in Cambodia, it is difficult to reach the target of one million tonnes of rice exports because there are still many challenges to be addressed," Lak said.<br /> <br /> The key ways to improve exports, said Lak, is through increasing and expanding rice stockpiles, increased loans to grow the industry, and lowering production costs.<br /> <br /> AMRU Rice (Cambodia) Co Ltd CEO Song Saran said the decline in exports is due to Cambodia's move towards high-quality and thus more expensive rice market.<br /> <br /> He said Cambodia previously exported mostly white rice, but these numbers have steadily declined as the volume of fragrant rice exports increased.<br /> <br /> "In terms of the quantity of exports we've seen a drop, but when we talk value it is higher than last year," he said.<br /> <br /> In 2018, Cambodian white rice sold at $470 per tonne, fragrant rice ranged between $785 and $790 per tonne, while jasmine rice sold for $890. These prices represented an increase of 8 to 10 per cent from last year.<br /> <br /> China was the leading buyer of Cambodian rice in the first 11 months of the year with nearly 140,000 tonnes, while exports to France totalled over 70,000 tonnes, Malaysia (40,000 tonnes), and Gabon (2,500 tonnes).<br /> <br /> Cambodia is also facing impending rice tariffs from the EU that could further impact exports.

Cambodian rice sees decline in exports to the international market

Cambodia's rice exports to the international market fell more than 13 per cent for the first 11 months of the year, compared to the s...

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VN set for Industry 4.0 workforce

<div class="separator" style="clear: both; text-align: center;"> <a href="https://2.bp.blogspot.com/-WcORt0fs-xo/XBMKbxpznoI/AAAAAAAAAHc/b_blx_0rDFUWf-H9AacSLl8AfBqO5vwJgCLcBGAs/s1600/8-vn_0.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://2.bp.blogspot.com/-WcORt0fs-xo/XBMKbxpznoI/AAAAAAAAAHc/b_blx_0rDFUWf-H9AacSLl8AfBqO5vwJgCLcBGAs/s640/8-vn_0.jpg" width="640" /></a></div> <br /> VIETNAM NEWS/ANN: The fourth industrial revolution is dramatically affecting labour markets around the world, including in Vietnam, creating new kinds of jobs for which there will be expected shortages.<br /> <br /> Tran Anh Tuan, deputy head of HCM City's Centre for Forecasting Manpower Needs and Labour Market Information, said Vietnam was already using "smart" factories, where robotics, artificial intelligence, cloud computing and data analytics were being used to link production and logistics processes, and make manufacturing more intelligent, efficient and sustainable.<br /> <br /> The IT industry, recognised as the strategic sector in the 2019-2025 period, will need far more skilled workers than it has today.<br /> <br /> Many new occupations relating to cyber-security, information security, programming for mobile apps and 3D game design, are now being created.<br /> <br /> At least 2.1 million jobs will be created in Vietnam, mostly in computing, maths and engineering.<br /> <br /> Other industries such as electricity, electronics, mechanical engineering, and automotive engineering will need a high number of human resources in the 2019-2025 period, Tuan said, adding that 24,000 employees would be needed for the electricity-IT industries each year in the period, and 15,000 for mechanical engineering each year.<br /> <br /> Navigos Group CEO Gaku Echizenya said: "The labour market is experiencing unprecedented changes with the fourth industrial revolution."<br /> <br /> This means businesses have to improve by understanding the market and promptly respond to change and build effective recruitment strategies, Echizenya said.<br /> <br /> The latest report on Career Prospects & Skill Trends in Vietnam within the period between 2018 and 2022 of VietnamWorks, the online jobsite under the Navigos Group, shows that 59 per cent of surveyed human resources professionals said robots and automation would be the technological factors with the largest impact on the labour market in the next five years.<br /> <br /> The report this year surveyed more than 200 human resources professionals who hold managerial positions in top firms and corporations in Vietnam.<br /> <br /> Moreover, the telecommunications boom in the "mobile internet, cloud technology" as well as "processing power, big data" categories are also forecasted to create profound change.<br /> <br /> Recruitment demands will change as a result of shifting nature of work and labour structure, according to the report.<br /> <br /> According to HR professionals, the labour market will transform dramatically under the effect of socio-economic factors related to the nature of jobs and the labour structure.<br /> <br /> Sixty-six per cent of HR professionals agreed with the need for "change in natures of work, flexible work" to stimulate change, followed by "the development of elite labour" and "the development of a young demographic".<br /> <br /> More notably, 40 per cent claimed "the need for privacy" and "greater awareness of environmental responsibilities" would have substantial impact on recruitment demands.<br /> <br /> Up to one-fifth said the participation of women would undoubtedly change the labour market.<br /> <br /> High tech and engineering would be the most promising job category in the near future, according to the report.<br /> <br /> Around 90 per cent of respondents were certain that "high tech, engineering" and "computer and technology" would have increased demand in the near future.<br /> <br /> Another category with great growth in the next five years would be "arts, design, entertainment, sports and media". On the other hand, certain job categories would experience lower demand, such as "administrative and clerical".<br /> <br /> According to the report, the changes in the labour market would create new jobs with different competencies.

VN set for Industry 4.0 workforce

VIETNAM NEWS/ANN: The fourth industrial revolution is dramatically affecting labour markets around the world, including in Vietnam, creat...

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Tesla CEO Elon Musk openly taunts US' SEC

<div class="separator" style="clear: both; text-align: center;"> <a href="https://3.bp.blogspot.com/-mlgk_NnGKDk/XBMKG5aDR_I/AAAAAAAAAHU/R5HK3hwLeBAAh0TRc821OLYrfj1VIgzRQCLcBGAs/s1600/8-ceo.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://3.bp.blogspot.com/-mlgk_NnGKDk/XBMKG5aDR_I/AAAAAAAAAHU/R5HK3hwLeBAAh0TRc821OLYrfj1VIgzRQCLcBGAs/s640/8-ceo.jpg" width="640" /></a></div> <br /> Tesla CEO Elon Musk openly derided the US Securities and Exchange Commission (SEC) in an interview aired on Sunday.<br /> <br /> Musk had only recently settled fraud charges with the regulatory agency over an errant tweet.<br /> <br /> "I want to be clear. I do not respect the SEC – I do not respect them," he said in an interview on the CBS network news programme 60 Minutes.<br /> <br /> Musk had to resign as Tesla chairman under a September arrangement with the SEC to settle fraud charges stemming from a tweet in which he said he planned to take the firm private and already had the financing to do it.<br /> <br /> That caused a brief spike in Tesla's share price, leading so-called short-sellers, who have been betting on the stock crashing for years, to lose millions.<br /> <br /> <b>Hefty fines</b><br /> <br /> Musk and Tesla each had to pay a $20 million fine to the agency, to be split among harmed investors. He was forced to resign as chairman but allowed to remain CEO.<br /> <br /> The SEC had also demanded oversight of the mercurial Musk's social media use.<br /> <br /> But he said in the Sunday interview that no one was proofreading his tweets.<br /> <br /> "The only tweets that would have to be, say, reviewed would be if a tweet had a probability of causing a movement in the stock," he said.<br /> <br /> "Otherwise it's 'Hello, First Amendment'," he continued, referencing the US constitutional right to free speech, which he called "fundamental".<br /> <br /> Asked how Tesla would know if his tweets would move the market if they weren't all being read, Musk replied: "Well, I guess we might make some mistakes. Who knows? Nobody's perfect."<br /> <br /> Musk said he was abiding by the settlement, however, "because I respect the justice system."

Tesla CEO Elon Musk openly taunts US' SEC

Tesla CEO Elon Musk openly derided the US Securities and Exchange Commission (SEC) in an interview aired on Sunday. Musk had only recen...

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Chip Mong opens roof tile factory

<div class="separator" style="clear: both; text-align: center;"> <a href="https://3.bp.blogspot.com/-JslkM6QiTW8/XBMJs8sx-KI/AAAAAAAAAHM/KAqQf-qgqo0IJjQgokcx-BN5rjO7R9s4gCLcBGAs/s1600/chip-mong-industries-launches-a-roof-tile-and-pipe-factory-in-phnom-penhs-dangkor-district.-heng-chivoan.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://3.bp.blogspot.com/-JslkM6QiTW8/XBMJs8sx-KI/AAAAAAAAAHM/KAqQf-qgqo0IJjQgokcx-BN5rjO7R9s4gCLcBGAs/s640/chip-mong-industries-launches-a-roof-tile-and-pipe-factory-in-phnom-penhs-dangkor-district.-heng-chivoan.jpg" width="640" /></a></div> <br /> Chip Mong Industries, a subsidiary of the Chip Mong Group, launched a roof tiles and pipes factory on Friday, stating their intention to take advantage of the growing demand in Cambodia's booming construction sector.<br /> <br /> The new factory, located on 11ha of land in Phnom Penh's Dangkor district, is capable of producing 140 sheets of tiles a minute, while the pipe factory has the capacity to produce 500 tonnes of pipes a month.<br /> <br /> The company said the factory was built to reduce Cambodia's dependence on imported products.<br /> <br /> <b>‘Promoting an image'</b><br /> <br /> Chip Mong Group Chairman Leang Khun said the launch of the factory is another instance of the company reducing poverty in Cambodia through job creation, reducing migration and boosting the Kingdom's national economic growth.<br /> <br /> "We are promoting an image of Cambodia as one evolving from its past as a primarily agricultural country to the industrialised nation it is becoming today."<br /> <br /> "We hope the factories will reduce imports of construction materials from abroad and help boost national economic growth," he said.<br /> <br /> Minister of Industry and Handicrafts Cham Prasidh said at the plant's launch that it was the latest example of the important contribution the private sector is making towards achieving Cambodia's goal of becoming an upper-middle-income country by 2030 and a high-income one by 2050.<br /> <br /> "These factories are evidence of the important role the private sector will play in the fruitful implementation of the government's 2015-2025 Industrial Development Policy," he said.<br /> <br /> Prasidh said businesses such as the Chip Mong Group, an organisation creating products and services across various fields, were vital in creating job opportunities and high quality and affordable locally produced goods for Cambodians.<br /> <br /> Sothirith Yuk, General Manager of Worldbridge Homes Co Ltd, a developer of affordable homes in Kandal province's Sa'ang district, welcomed the news.<br /> <br /> "The creation of a local factory will provide abundant investors and consumers. Previously, most of the materials we used were imported but if we can produce locally it will help Cambodia's construction sector progress faster."<br /> <br /> "I am optimistic that if our local products are properly monitored, the quality and standard will be acceptable," he said.<br /> <br /> In February, the Chip Mong Group also launched a cement factory in Kampot province's Banteay Meas district in a joint venture with Siam Cement Group PLC, worth a total of $262 million.

Chip Mong opens roof tile factory

Chip Mong Industries, a subsidiary of the Chip Mong Group, launched a roof tiles and pipes factory on Friday, stating their intention to ...

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Continued price drop makes Kingdom's pepper unprofitable

<div class="separator" style="clear: both; text-align: center;"> <a href="https://4.bp.blogspot.com/-nH0UG5zX3mk/XBMJT_U-JkI/AAAAAAAAAHE/J_uqTnLPzrEcPR_meO239GewFEmFOz8GQCLcBGAs/s1600/dar-memot-pepper-agriculture-development-cooperative-executive-director-yin-sopha-says-the-market-price-for-non-gi-pepper-is-still-under-the-margin-of-cost-production.-pha-lina.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://4.bp.blogspot.com/-nH0UG5zX3mk/XBMJT_U-JkI/AAAAAAAAAHE/J_uqTnLPzrEcPR_meO239GewFEmFOz8GQCLcBGAs/s640/dar-memot-pepper-agriculture-development-cooperative-executive-director-yin-sopha-says-the-market-price-for-non-gi-pepper-is-still-under-the-margin-of-cost-production.-pha-lina.jpg" width="640" /></a></div> <br /> The Kingdom's non-GI pepper farmers continue to struggle due to low prices while cultivation is projected to decline next year, said Dar-Memot Pepper Agriculture Development Cooperative executive director Yin Sopha.<br /> <br /> Sopha said the market price for non-GI pepper this year is still under the margin of cost production, as the sector is expected not to expand next year.<br /> <br /> Since the beginning of the harvest season, pepper prices have stood at $2.6 per kg, which are under the profit margin. He said the lower price is due to the global market.<br /> <br /> "Pepper prices cannot increase anymore, as the pepper industry's global supply is more than the need – the price is not beneficial for farmers and the growth of cultivation will not increase anymore."<br /> <br /> Sopha said that the sector would no longer be a viable investment option if prices keep dropping.<br /> <br /> <b>A new federation</b><br /> <br /> As of 2016, the Kingdom had 5,000ha of pepper fields, according to a report from the Ministry of Agriculture, Forestry and Fisheries, which claimed the country's pepper exports grew from 1,050 tonnes in 2016 to 2,698 tonnes last year.<br /> <br /> The government has formed a new federation for the country's pepper industry to enhance the market and solve challenges in the sector, as the cash crop is currently facing depressed prices.<br /> <br /> The Cambodia Pepper and Spice Federation was jointly formed last month by the Ministry of Commerce and the Ministry of Agriculture, Forestry and Fisheries.<br /> <br /> The federation will promote the value of pepper and look for new markets, especially for non-GI pepper so that farmers will not rely on informal exports to Thailand and Vietnam.<br /> <br /> AMRU Rice (Cambodia) Co Ltd CEO Song Saran, who has been elected as the federation's president, said it was looking for technical assistance before setting up to address key issues.<br /> <br /> "We have no update yet about pepper prices. Right now we are looking for technical assistance to support the federation. We will address the key issues happening now and formulate further action," he said.<br /> <br /> Vorn Savourn, a pepper farmer in Tbong Khmum province's Memot district who owns a 5ha pepper field, said the industry still relies on informal buyers.<br /> <br /> "I have no hope for an increase in pepper prices. Most [pepper] farmers here [are considering selling their farms] since they cannot pay back loans," he said, adding that pepper farming is no longer a good choice for farmers as there is no sustainable market."

Continued price drop makes Kingdom's pepper unprofitable

The Kingdom's non-GI pepper farmers continue to struggle due to low prices while cultivation is projected to decline next year, said ...

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Chaom Chao project is underway

<div class="separator" style="clear: both; text-align: center;"> <a href="https://2.bp.blogspot.com/-Vkotbmhbrtg/XBMC0m8dJRI/AAAAAAAAAG4/fsERzpD8wew-KpStP8Rd6yBfpW7t2e-pwCLcBGAs/s1600/a-3d-rendering-of-the-finished-chaom-chao-roundabout-overpass.-phnom-penh-municipal-hall.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://2.bp.blogspot.com/-Vkotbmhbrtg/XBMC0m8dJRI/AAAAAAAAAG4/fsERzpD8wew-KpStP8Rd6yBfpW7t2e-pwCLcBGAs/s640/a-3d-rendering-of-the-finished-chaom-chao-roundabout-overpass.-phnom-penh-municipal-hall.jpg" width="640" /></a></div> <br /> Overseas Cambodia Investment Corporation (OCIC), which is developing the Chaom Chao roundabout overpass and subway, said the company began clearing the site on Tuesday after it met with authorities and other stakeholders to push completion by the end of 2020.<br /> <br /> The construction site was inaugurated on June 29 by Prime Minister Hun Sen. The OCIC project is worth $22 million and will take 30 months to complete.<br /> <br /> The Chaom Chao roundabout is a link between Phnom Penh and National Roads 3 and 4, an import-export gateway for Cambodian goods to the international market.<br /> <br /> The roundabout sees traffic congestion every day, causing the Phnom Penh Municipal Hall to decide to clear the roundabout and construct an overpass and subway instead.<br /> <br /> OCIC spokesman Dy Vanndo said on Tuesday that he met local authorities and stakeholders in charge of underground networks – such as cable, electricity and water distribution – to lay out a comprehensive subterranean blueprint before the OCIC team starts digging to rebury sewage pipes.<br /> <br /> "Excavation to bury the [sewage] pipes at the site of the construction of the overpass and subway at Chaom Chao roundabout will start on December 10," Vanndo said.<br /> <br /> He said the company will construct a two-level subway with two lanes through a 13 metre-deep excavation.<br /> <br /> Although construction will be complex, the project will be completed, as scheduled, within 30 months after construction begins.<br /> <br /> According to Vanndo, the expansion of the road to relieve traffic during construction was completed on October 30. However, he said there are currently about 17 houses and two gasoline stations on site which have not accepted any settlement.<br /> <br /> Phnom Penh Municipal Hall spokesman Met Measpheakdey said he did not have the latest details of the Chaom Chao roundabout project, knowing only that the construction was proceeding on schedule.

Chaom Chao project is underway

Overseas Cambodia Investment Corporation (OCIC), which is developing the Chaom Chao roundabout overpass and subway, said the company bega...

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Kampot ferry construction delayed

<div class="separator" style="clear: both; text-align: center;"><a href="https://2.bp.blogspot.com/-yKbhg5EfFI8/WroXzH_TXoI/AAAAAAAABDk/h9_t6_VxCFcDbSv_BbqAOPTtFmF4Qt25wCLcBGAs/s1600/kp-seaport.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://2.bp.blogspot.com/-yKbhg5EfFI8/WroXzH_TXoI/AAAAAAAABDk/h9_t6_VxCFcDbSv_BbqAOPTtFmF4Qt25wCLcBGAs/s640/kp-seaport.jpg" width="640" /></a></div><br />Construction on a new tourist ferry port located about 6 kilometres from the provincial capital in Kampot province has been delayed, although a Tourism Ministry spokesman promised that construction would begin before the end of this year.<br /><br />The $10 million port, funded by a loan from the Asian Development Bank (ADB), is set to occupy 4 hectares in the province's Teuk Chhou district. Construction on the port will take about two-and-a-half years and, once completed, the new facility would be able to service cruise ships from neighbouring Vietnam and Thailand.<br /><br />"It is delayed because we need to prepare and finish procedures and documents," Tith Chantha, spokesman for the Tourism Ministry, said on Monday. "The construction will start soon, absolutely in this year."<br /><br />Soy Sinol, the director of the provincial Tourism Department in Kampot, said he had expected construction to begin earlier this year, but has not yet received details about the port's capacity or current status.<br /><br />"I have no idea why the plan was delayed," he said. ADB officials did not respond to a request for comment.<br /><br />About 162,000 foreign tourists visited Kampot province last year, according to the ministry.

Kampot ferry construction delayed

Construction on a new tourist ferry port located about 6 kilometres from the provincial capital in Kampot province has been delayed, althoug...

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Uber sells Southeast Asia assets to rival Grab

<div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-TPjBou-86SM/WroXbKZiYQI/AAAAAAAABDg/1CzYrsnDKnIhjjjFJs5tQcx7sM-0EJ6NACLcBGAs/s1600/grab.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://1.bp.blogspot.com/-TPjBou-86SM/WroXbKZiYQI/AAAAAAAABDg/1CzYrsnDKnIhjjjFJs5tQcx7sM-0EJ6NACLcBGAs/s640/grab.jpg" width="640" /></a></div><br /><b>Updated: 6:41am, Tuesday March 27, 2018</b><br /><br />Ride-hailing platform Grab announced on Monday that it had acquired the Southeast Asia operations of its US-based rival Uber, including the company's ride-hailing services in Cambodia, just three months after it officially launched in the Kingdom.<br /><br />In exchange, Uber will take a 27.5 percent stake in Grab and its CEO, Dara Khosrowshahi, will join Grab's board of directors as part of the deal, according to a press release from Singapore-based Grab.<br /><br />Wee Tang Yee, Grab's country head in Cambodia, said that Uber's services in the Kingdom will continue for a two-week transitional period as Grab seeks to transfer employees and drivers onto its own platform.<br /><br />"Grab and Uber are working together to promptly migrate Uber drivers and riders, merchant partners and delivery partners to the Grab platform," he said in an email. "The Uber app will continue to operate for two weeks to ensure stability for Uber drivers, who can find out how to sign-up to drive with Grab online."<br /><br />Founded in Malaysia in 2012, Grab now operates in eight Southeast Asian countries. It launched services in Phnom Penh in December, three months after Uber became the first international ride-hailing platform to begin operations in Cambodia.<br /><br />Grab's acquisition of Uber had been rumoured for several months, and its entry into Cambodia was largely viewed as more successful than Uber's, despite the US firm's three-month head start.<br /><br />Since its launch in December, Grab has added a motorbike taxi service and launched a preliminary tuk-tuk service in the capital, while also racking up several agreements with government and development agencies. Uber remained relatively static during the same period.<br /><br />Multiple Uber regional representatives – including Krittiyawadee Pongpanich, Uber's Thailand-based head of communications, and Chris Brummitt, Uber's Asia-Pacific head of corporate and product communications – declined to comment on Monday.<br /><br />Pascal Ly, who was hired as the general manager for Uber in Cambodia in January, said in an email on Monday that he was no longer able to speak on behalf of Uber or Grab, and would "prioritize my focus on the team to know what will be the next step for them".<br /><br />That next step could be working for their one-time rival.<br /><br />"All Uber employees, including ones in Cambodia, will receive offers to join Grab," Yee said on Monday. "As we onboard Uber passengers and drivers onto the Grab platform, there will be more passengers using Grab, which will mean more jobs, less waiting time, and ultimately more earnings for our driver-partners."<br /><br />Yee predicted that the acquisition of Uber's operations would gradually lower fares for riders, which could mean increased competition with local ride-hailing platforms.<br /><br />Homegrown ride-hailing startups, such as PassApp and ExNet, have so far been able to offer lower prices than Uber and Grab, but they could face increased pressure as Grab's prices fall.<br /><br />Food delivery, another industry that's currently dominated by local businesses, could also feel the squeeze from Grab in the near future. Grab's Monday announcement said the company plans to expand its food delivery services to all Southeast Asian countries, including Cambodia, in the next few months.<br /><br />"We will rapidly and efficiently expand GrabFood into all major SEA countries in the next quarter," Grab co-founder Tan Hooi Ling says in the release. "GrabFood will also be another great use case to drive the continued adoption of GrabPay mobile wallet and support our growing financial services platform."

Uber sells Southeast Asia assets to rival Grab

Updated: 6:41am, Tuesday March 27, 2018 Ride-hailing platform Grab announced on Monday that it had acquired the Southeast Asia operations of...

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Grab tests tuk-tuk market in capital

<div class="separator" style="clear: both; text-align: center;"><a href="https://4.bp.blogspot.com/-II6IE852iho/WroXFr5WQWI/AAAAAAAABDc/lRAawrXPeJgxMGQAejeOJiTFDSU41cQwwCLcBGAs/s1600/grab-bike-drivers-line-up-in-bangkok-on-may-3.-the-nation.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://4.bp.blogspot.com/-II6IE852iho/WroXFr5WQWI/AAAAAAAABDc/lRAawrXPeJgxMGQAejeOJiTFDSU41cQwwCLcBGAs/s640/grab-bike-drivers-line-up-in-bangkok-on-may-3.-the-nation.jpg" width="640" /></a></div><br />Grab has officially launched its motorbike taxi service and started beta testing a tuk-tuk and rickshaw service in Phnom Penh and Siem Reap, according to a press release issued by the company on Friday.<br /><br />Grab Bike, which has been in beta testing for nearly two months in Phnom Penh's central districts, launched full services in the capital on Friday, making Grab the first major ride-hailing platform to offer motorbike taxi services in the Kingdom.<br /><br />Grab Bike prices have also lowered since the initial beta test. Originally set at a higher-than-typical base rate of 2,500 riel, or $0.63, Grab Bike is now available for a base fare of 1,000 riel, or $0.25, with an additional $0.25 charge for each kilometre.<br /><br />Grab also announced the launch of its beta test for "Grab Tuk Tuk" in Phnom Penh, a service that allows users to call auto-rickshaws, the ubiquitous three-wheeled Indian-style tuk-tuks commonly used by other ride-hailing applications.<br /><br />The base fare for this service is now set at a rate of 2,000 riel, or $0.50, with each kilometre costing an additional 1,200 riel, or $0.30. Those prices are slightly higher than current prices offered for auto-rickshaw rides on local ride-hailing apps PassApp and ExNet.<br /><br />Beta testing for a service entirely new for the international company, called "Grab Remorque", was announced as well, with those services available only in Siem Reap.<br /><br />Top Nimol, the founder of PassApp, previously told The Post that he has been able to compete with international ride-hailing apps Uber and Grab because their prices are much higher than his own. With Grab now beginning to offer motorbikes and auto-rickshaws for lower prices, Nimol is taking a wait-and-see approach.<br /><br />"I just don't know yet what this means for PassApp," he said. "Let's see in the future if [Grab] has a significant impact on us. All we can do is try our best."<br /><br />On Sunday, US-based Bloomberg News reported that Grab would be buying the Southeast Asia assets from its rival Uber, which launched in Cambodia in September. Bloomberg reported an agreement between the two companies was expected to be reached this week.

Grab tests tuk-tuk market in capital

Grab has officially launched its motorbike taxi service and started beta testing a tuk-tuk and rickshaw service in Phnom Penh and Siem Reap,...

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Cambodian duo's Eco-Plastic takes second in Bhutan startup challenge

<div class="separator" style="clear: both; text-align: center;"><a href="https://4.bp.blogspot.com/-yWGqgyrB-T0/WroVodbcP6I/AAAAAAAABDQ/njZgqQxjuGITd-coI7Hme8-WF_sMZsgIQCLcBGAs/s1600/teammates-sokhana-ly-centre-left-and-bunhourng-tan-centre-right-standing-between-their-mentors-celebrate-their-second-place-win-at-the-mekong-business-challenge-in-bhutan-on-saturday.-supplied.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://4.bp.blogspot.com/-yWGqgyrB-T0/WroVodbcP6I/AAAAAAAABDQ/njZgqQxjuGITd-coI7Hme8-WF_sMZsgIQCLcBGAs/s640/teammates-sokhana-ly-centre-left-and-bunhourng-tan-centre-right-standing-between-their-mentors-celebrate-their-second-place-win-at-the-mekong-business-challenge-in-bhutan-on-saturday.-supplied.jpg" width="640" /></a></div><br />A pair of female Cambodian entrepreneurs placed second in a regional business competition on Saturday, beating out university teams from six countries with their startup idea – called Eco-Plastic – that could utilise Cambodia's plastic waste to pave cheaper, more durable roads.<br /><br />The Mekong Business Challenge (MBC), an annual competition that launched in Phnom Penh 12 years ago, welcomed 11 entrepreneurial teams from six nations at their contest held in Bhutan last week. The grand prize for the first-place team was a spot in the International Business Model Challenge competition in the US in May.<br /><br />Stephen Paterson, co-founder and organiser of the MBC, said the contest's judges – which included representatives from international companies including McKinsey & Company, Google and ManuLife – were impressed by the initiative taken by the Cambodian team in pursuing expansion options for their startup.<br /><br />"Eco-Plastic came in second in the Cambodian competition [last month], but since [then] they have made so much progress," Paterson said. "We want to emphasise methodology in our judging, and our criteria takes a look at the failures these teams have had to overcome to make their business models more realistic."<br /><br />Since taking home the silver medal, the Eco-Plastic team – female duo Bunhourng Tan and Sokanha Ly – have received funding from a US investor, travelled to China to tour plastic recycling facilities and met with the Ministry of Public Works and Transport to discuss implementing their idea.<br /><br />"We had a great honour to meet the [Transport] Minister, His Excellency Sun Chanthol, who was very supportive of our idea," said Sokhana. "We got permission to use the ministry's laboratory to build and test our samples there, before we went to the MBC."<br /><br />"Plastic waste is a curse to the environment, to health and to the economy . . . and people face a high risk driving on roads in Cambodia, which are often poorly constructed and damaged by high traffic," Sokhana said. "By establishing Eco-Plastic, we can use plastic waste to improve our roads, transforming landfill waste into a roadfill product."<br /><br />Teammate Tan said that the pair had learned a lot since first coming up with their idea at the end of 2016, having entered several different local startup competitions and coming away with different lessons each time.<br /><br />"During the last year, we've been to many startup competitions . . . and throughout the programs, our team gained more hands-on experience," she said. "It's been quite a journey, of going up and down, of failing and of learning from mistakes, of listening and then adjusting to incorporate the feedback."<br /><br />Though a Bhutanese team took first place for their startup called Shogjur – which has already turned a profit from sales of recycled paper jewellery and souvenirs – the runner-up Cambodian team won a pair of laptops and has been encouraged to bring the Eco-Plastic business model to the US competition in May via another application process.<br /><br />"The Eco-Plastic team will be applying for the open spot" in the US competition, Paterson said, adding he had "a very strong feeling they'll get it".<br /><br />Cambodia's win in a regional competition was a sign of the growing entrepreneurial scene in the Kingdom, according to Paterson, and was likely due in-part to the many local programs and competitions that cater to university students. The next step for the Kingdom's startups would be to think bigger.<br /><br />"There are businesses attracting small- to medium-size returns, but there's still a lack of investable ideas," he said. "There is still a lack of projects that can be scaled up to a larger level."

Cambodian duo's Eco-Plastic takes second in Bhutan startup challenge

A pair of female Cambodian entrepreneurs placed second in a regional business competition on Saturday, beating out university teams from six...

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Post's bill from tax authority business as usual, says CEO

<div class="separator" style="clear: both; text-align: center;"><a href="https://3.bp.blogspot.com/-LzMOvXuUH5o/WroRDYRTe_I/AAAAAAAABC8/msPHp4nwC409ZvtJW8n-u2wTjQ2WBxiXgCLcBGAs/s1600/traffic-passes-in-front-of-the-general-department-of-taxation-office-in-phnom-penh.-pha-lina.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://3.bp.blogspot.com/-LzMOvXuUH5o/WroRDYRTe_I/AAAAAAAABC8/msPHp4nwC409ZvtJW8n-u2wTjQ2WBxiXgCLcBGAs/s640/traffic-passes-in-front-of-the-general-department-of-taxation-office-in-phnom-penh.-pha-lina.jpg" width="640" /></a></div><br />The Phnom Penh Post is currently negotiating a tax bill with Cambodia's General Department of Taxation (GDT), the newspaper's CEO said on Tuesday, denying media reports that The Post was on the verge of shutting down, and characterising the negotiations as "routine".<br /><br />Marcus Holmes, who has been CEO since late 2017, said on Tuesday that the negotiations with the GDT began in December.<br /><br />"It's so routine," he said, referring to the negotiations. "We fully expect we are going to explain this, [the GDT] is going to accept that and everyone is going to be happy."<br /><br />News articles published by online outlet AEC News and Catholic newswire UCAN had asserted that the negotiations were exceptional and threatened the newspaper with closure, claims that Holmes disputed. The pieces relied on anonymous sources claiming to be either "hackers" or close to Phnom Penh Post Publisher Bill Clough.<br /><br />Holmes rejected various claims that The Post was threatened with closure in the next 60 days; that the company was being penalised for failing to disclose a $2.5 million transfer from Australia; or that a deadline to pay back a $200,000 loan from a local bank was "very soon".<br /><br />He did acknowledge that the government had sent a letter alleging that the paper failed to follow proper reporting requirements regarding a $2.5 million money transfer from Australia, where Clough resides.<br /><br />"There's some very complicated tax legislation to do with injecting capital into Cambodia from outside," Holmes said, explaining that it was a routine part of The Post's operation to receive funds from Australia.<br /><br />He said that the issue was now subject to negotiations, and that the talks are confidential. The GDT's policy is to not comment on specific negotiations.<br /><br />The issues of tax compliance and press freedom intersected last September when English-language newspaper the Cambodia Daily, often critical of the government, was shuttered over a disputed $6.3 million tax bill. Observers connected the paper's shutdown to a larger crackdown on independent media and the political opposition that was occurring at the time, though that claim was fiercely rejected by the GDT.<br /><br />But throughout Tuesday's interview, Holmes characterised The Post's negotiations as routine for any business, and said that The Post's status as the last independent newspaper in Cambodia had not affected the negotiations with the GDT.<br /><br />Holmes said on Tuesday that the negotiations were ongoing and had no specific deadline, adding the newspaper was likely to file its latest reply to the Tax Department this week or early next week.<br /><br />Other matters raised in the articles included a loan owed to a local bank, which Holmes said was normal, adding that the company had plans to pay it off within the next year.<br /><br />The articles also referred to a payment ordered by the courts in a wrongful dismissal suit brought by former CEO Chris Dawe, who was dismissed for cause in 2015. The Post will be appealing the ruling to the Supreme Court soon, Holmes said.<br /><br />"None of this is new, or interesting, or surprising," he said.<br /><br />"It's all painted in these apocalyptic terms because we're the last independent newspaper in Cambodia. If we weren't . . . it would be very boring, and no business editor would be vaguely interested in publishing anything about it."

Post's bill from tax authority business as usual, says CEO

The Phnom Penh Post is currently negotiating a tax bill with Cambodia's General Department of Taxation (GDT), the newspaper's CEO sa...

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NBC officials optimistic about growing riel usage

<div class="separator" style="clear: both; text-align: center;"><a href="https://4.bp.blogspot.com/-FvXvQxDgLAU/WroQXIs_F4I/AAAAAAAABC0/s3QZ-vGydTAEuQLQVXIEF-iEj8IM3-XyQCLcBGAs/s1600/people-sort-riel-banknotes-in-phnom-penh-in-2015.-vireak-mai.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://4.bp.blogspot.com/-FvXvQxDgLAU/WroQXIs_F4I/AAAAAAAABC0/s3QZ-vGydTAEuQLQVXIEF-iEj8IM3-XyQCLcBGAs/s640/people-sort-riel-banknotes-in-phnom-penh-in-2015.-vireak-mai.jpg" width="640" /></a></div><br />The Cambodian riel accounted for about 17 percent of total currency circulation last year, a number similar to previous years, but central bank officials said they remained optimistic that use of the local currency will grow in the future.<br /><br />Speaking to reporters yesterday at an event in Phnom Penh celebrating the 38th anniversary of the re-introduction of riel as the national currency, National Bank of Cambodia (NBC) Director General Chea Serey said that despite the US dollar dominating Cambodia's currency market, the results of an internal consumer survey pointed to shifting attitudes toward the use of riel.<br /><br />"I am optimistic that the circulation of Khmer riel will be better thanks to the change of consumer attitude," she said. "We have observed that our Cambodian people have increased their willingness to use the national currency."<br /><br />Serey said that a study conducted by the Japanese International Cooperation Agency in 2014 found that Cambodian youths preferred to use Khmer riel rather than US dollars, and that preference strengthened in a more recently conducted study. Serey attributed that growing preference to the youths' "national pride".<br /><br />"The priority now is that we need to transform the change of consumers' attitude to the real practice for better results," she said.<br /><br />The central bank has also passed regulations to promote riel usage, including requiring all commercial banks and microfinance institutions to hold at least 10 percent of their loan portfolios in riel by the end of next year.<br /><br /><blockquote class="tr_bq">A previous version of this article misstated the author of a survey on the use of Khmer riel and US dollars in Cambodia. It was conducted by the Japan International Cooperation Agency. The article also misstated the results of the survey, which found the majority of Cambodian youths preferred to use Khmer riel rather than US dollars. The Post apologises for any confusion caused.</blockquote>

NBC officials optimistic about growing riel usage

The Cambodian riel accounted for about 17 percent of total currency circulation last year, a number similar to previous years, but central b...

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The future of cashless systems in a cash-based economy

<div class="separator" style="clear: both; text-align: center;"><a href="https://4.bp.blogspot.com/-HTXPVqXOqeM/WrBljrEMwuI/AAAAAAAABCc/OpO08lhYcJIibgSi_mlZ9ujBSMYwSoMBwCLcBGAs/s1600/loy2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://4.bp.blogspot.com/-HTXPVqXOqeM/WrBljrEMwuI/AAAAAAAABCc/OpO08lhYcJIibgSi_mlZ9ujBSMYwSoMBwCLcBGAs/s640/loy2.jpg" width="640" /></a></div><br />In a country where most people are paid in cash and the majority of businesses are cash-only, cashless payment platforms can appear out of place.<br /><br />But that hasn't stopped a number of digital payment companies from putting up impressive growth numbers in Cambodia, and the sector has continued to expand in the past few years.<br /><br />One such company is Pi Pay, a smartphone application that allows you to either link your bank account to the service or top-up with cash at digital kiosks.<br /><br />Following its launch in July last year, the company undertook a marketing blitz that offered steep discounts for people who paid with the app. It's now one of the most popular cashless payment services in the country, having processed 2.5 million transactions worth about $50 million and boasting a 30 percent user-growth rate each month.<br /><br />Pi Pay CEO Thomas Pokorny said he thought it was just a matter of time before the country fully embraced the cashless economy.<br /><br />"Once the mobile coffee vendor . . . sees the ease and convenience of moving the payment for a cup of coffee seamlessly from her customers' phone, through her phone and on in to her newly opened bank account, then . . . the likelihood grows that she will share this new world of convenience and security with friends and colleagues," he said.<br /><br />Wing, another giant in the field of both cash and cashless banking and transactions in Cambodia, also reported significant growth in the mobile payments sector. The company's marketing director, Anita Harris, said she was upbeat about the potential for growth in the sector.<br /><br />"Global forecasts suggest mobile payment transactions will grow by up to 40% by 2020," Harris wrote in an email. "I would not be surprised if Cambodia surpasses this."<br /><br />But in a country where only 20 percent of citizens have a bank account, there are significant challenges to convincing people that an app can replace their banknotes.<br /><br />Thy Vylin, owner of the Yes Coffee drink cart in Phnom Penh, is an example of the audience Pokorny would like to reach. And while Vylin did express interest in using a cashless payment system for his business – mostly to attract foreigners – he said he was not interested in using the service for personal transactions.<br /><br />"Even if a bank account were set up for me, it's just too complicated," he said. "I prefer cash for myself . . . it is the normal thing."<br /><br />What is considered "normal" could shift as cashless payment services continue to grow, according to Gordon Peters, a partner at investment firm Mekong Strategic Partners.<br /><br />"Consumers using digital payment services and wallets will eventually get used to this versus cash," Peters said. "I predict it will encourage more bank accounts in the future."<br /><br />Pokorny agreed, saying that he saw Pi Pay as a driver for broad financial inclusion.<br /><br />But vendors outside of Cambodia's newly built malls and high-end shopping centres remain sceptical about the technology.<br /><br />Ouk Saroeurn, a clothing vendor in Phsar Thmey, said she preferred cash and would only consider using a payment gateway to draw tourists or expatriates to her store. Her sentiments were echoed by every vendor interviewed by reporters, all of whom said they would prefer to stick with cash instead of a digital application.<br /><br />That attitude can only be changed through education, according to Ngeth Chou, a senior consultant at Emerging Markets Consulting.<br /><br />"When confidence in banks' IT operations is limited, people are still more likely to spend cash or keep money in their pocket," he said. "That will not help economic growth."

The future of cashless systems in a cash-based economy

In a country where most people are paid in cash and the majority of businesses are cash-only, cashless payment platforms can appear out of p...

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Grab setting wheels in motion for victory in ride-hailing fight

<div class="separator" style="clear: both; text-align: center;"><a href="https://3.bp.blogspot.com/-YxK9y5uUEDk/WrBhkI5578I/AAAAAAAABCM/uFKfd1xBzUg5yd5ETfVsQR_3yoZXp1O_gCLcBGAs/s1600/models-stand-beside-grab-cars-in-phnom-penh-during-the-ride-hailing-firms-launch-in-december.-afp.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://3.bp.blogspot.com/-YxK9y5uUEDk/WrBhkI5578I/AAAAAAAABCM/uFKfd1xBzUg5yd5ETfVsQR_3yoZXp1O_gCLcBGAs/s640/models-stand-beside-grab-cars-in-phnom-penh-during-the-ride-hailing-firms-launch-in-december.-afp.jpg" width="640" /></a></div><br />Following reports that Uber plans to sell some of its Southeast Asia assets to Grab, the strategies and experiences of the two ride-hailing applications in Cambodia reveal differences in the pairs' approaches to new markets.<br /><br />News of the sale has been rumoured for months, but Bloomberg and the Wall Street Journal have reported in recent weeks that the two companies have agreed in principle to a deal that would transfer most of Uber's regional operations to Grab.<br /><br />Representatives of both firms in Cambodia declined to comment on any potential deal. Both companies have said they are seeking to localise services to adapt to the Cambodian market, which already features several ride-hailing platforms run by local entrepreneurs.<br /><br />US-based Uber beat Grab to market in Cambodia, launching in September last year by signing a memorandum of understanding (MoU) with the Ministry of Public Works and Transport (MPWT).<br /><br />It began offering its hallmark service, a sleek app that allows customers to call cars whose drivers take them to a predetermined location set on the app.<br /><br />It was a fairly unique service in Cambodia, where taxis are a rarity and demand for drivers is often filled by motorbike drivers, tuk-tuks or auto-rickshaws.<br /><br />So when Grab launched a few months later, it appeared they were behind the curve. But the Singapore-based company, which has focused on Southeast Asia and is known for adapting to local markets, has rapidly worked to establish itself in the Kingdom.<br /><br />After signing an MoU with the MPWT in December, Grab went on to sign agreements with the Anti-Corruption Unit in January and the United Nations Development Programme last month. It has also launched a promotional code to donate $1 per ride to Kantha Bopha Children's Hospital and piloted GrabBike, a service allowing customers to hail motorbike drivers, which is a popular feature in other countries in the region.<br /><br />Meanwhile, Uber did not hire a general manager in the country until January, and has not announced any partnerships with other agencies or government departments.<br /><br />Grab also appears to have the favour of the government. During his remarks at Grab's launch event in December, Transport Minister Sun Chanthol said he hoped Grab "can sign an IPO [initial public offering] soon, before their main competitor", an apparent reference to Uber.<br /><br />The race to IPO is likely what's driving Uber to sell its Southeast Asia business, which faces stiff competition, according to analysts. The firm has undertaken similar sales in China and Russia.<br /><br />Grab may also have been helped by the political climate in the Kingdom. Prime Minister Hun Sen has lashed out at the United States in recent months, accusing it of colluding with the now-dissolved opposition party to enact a "colour revolution" in the country.<br /><br />He has specifically targeted US Ambassador William Heidt, most recently calling him a "liar ambassador" earlier this month. Ambassador Heidt spoke at Uber's launch in Cambodia in September, hailing the company as "one of America's most exciting and innovative technology companies".<br /><br />Whether politics played a role or not, Grab has appeared to more succesfully garner the support of the government.<br /><br />But if a firm's success hinges on its ability to adapt to local markets, home-grown apps such as ExNet and PassApp may have the natural advantage, according to Gordon Peters, partner at investment firm Mekong Strategic Partners.<br /><br />"Being able to ‘win' in this market requires offering a good customer experience and good driver relationships," Peters said yesterday. "Local ride-hailing apps seem to understand Cambodian drivers better at the moment," he said, adding that he expected companies like Uber and Grab to be able to adapt eventually, buoyed by their significant advantages in money and technology.<br /><br />But until that time, the founders of local ride-hailing apps don't appear worried.<br /><br />"Our customers still keep increasing, even though Grab and Uber are here," said Top Nimol, founder of PassApp which employs over 1,000 drivers. "All of our services are increasing every day."<br /><br />Hor Daluch, the founder of ExNet, said he thought Grab was doing a better job than Uber of expanding into the Cambodian market, but noted he didn't view the company as a rival.<br /><br />"Grab is not too much competition for me, even with its new GrabBike," Daluch said. "It is too expensive in comparison, and not as good as a rickshaw."

Grab setting wheels in motion for victory in ride-hailing fight

Following reports that Uber plans to sell some of its Southeast Asia assets to Grab, the strategies and experiences of the two ride-hailing ...

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Green funding will be first for Kingdom: ADB

<div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-ps5uWzWQfZk/WrBhRqhEeUI/AAAAAAAABCE/DDRISczgcDs8cLpAV7zWL35vZCK6k6DEQCLcBGAs/s1600/adb.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://1.bp.blogspot.com/-ps5uWzWQfZk/WrBhRqhEeUI/AAAAAAAABCE/DDRISczgcDs8cLpAV7zWL35vZCK6k6DEQCLcBGAs/s640/adb.jpg" width="640" /></a></div><br />The Asian Development Bank's recent announcement of $40 million in funding for Cambodia marks the first funds from the Green Climate Fund that were earmarked for the Kingdom, according to ADB officials.<br /><br />The money – a $30 million grant and a $10 million concessional loan – will go towards the "climate-friendly agribusiness value chains sector project", according to Srinivasan Ancha, principal climate change specialist at the organisation.<br /><br />"The amount will be used to enhance climate resilience of agricultural value chains in selected provinces of Cambodia," Srinivasan said, adding that the government of Cambodia would be the recipient of the money.<br /><br />The six-year project will involve the Agriculture Ministry, Water Resources and Meteorology Ministry and Rural Development Ministry, according to Srinivasan, who said the project aims to boost the competitiveness of Cambodia's agricultural sector by increasing productivity and boosting efficiency.<br /><br />Cambodia is regularly ranked as among the most susceptible countries to climate change, with the Kingdom's economy and population both sensitive to climate-related disasters and shocks that are expected in the future due to global climate change.<br /><br />The ADB and the Green Climate Fund, both international funding organisations, signed an agreement in August last year allowing the bank to use the fund's resources in order to reduce greenhouse gas emissions and mitigate expected risks resulting from climate change in developing nations.

Green funding will be first for Kingdom: ADB

The Asian Development Bank's recent announcement of $40 million in funding for Cambodia marks the first funds from the Green Climate Fun...

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Discrepancy among ministries over garment data

<div class="separator" style="clear: both; text-align: center;"><a href="https://4.bp.blogspot.com/-0Q0TXh-IOtk/WrBg8Q0OVZI/AAAAAAAABCA/mLSNWLsUIlw6qpaCC5yCBUV3X2f1dNRLgCLcBGAs/s1600/a-worker-irons-clothing-at-a-factory-in-phnom-penh-in-june-2013.-pha-lina.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="440" data-original-width="780" height="360" src="https://4.bp.blogspot.com/-0Q0TXh-IOtk/WrBg8Q0OVZI/AAAAAAAABCA/mLSNWLsUIlw6qpaCC5yCBUV3X2f1dNRLgCLcBGAs/s640/a-worker-irons-clothing-at-a-factory-in-phnom-penh-in-june-2013.-pha-lina.jpg" width="640" /></a></div><br />Annual reports from two ministries released on Monday appear to show significantly different numbers of factories, enterprises and garment factory workers in Cambodia last year, and officials at the two ministries contacted yesterday did not explain the contradictory data.<br /><br />The annual report from the Ministry of Labour (MoL) released on Monday reported a total of 1,147 garment "enterprises and institutes" operating in the country last year.<br /><br />That appears to clash with data from the Ministry of Industry and Handicrafts (MIH), which released a report on the same day claiming a total of 1,031 garment "factories".<br /><br />MoL spokesman Heng Sour did not respond to a message asking what the difference between a "factory" and an "enterprise and institute" was, or how the MoL was defining "enterprise and institute".<br /><br />The MoL report also says the total number of "enterprises and institutes" operating in the country last year was 11,397. That stands in contrast to the MIH's report regarding both the total number of "factories", which was reported as 1,522, as well as the total number of "small- and medium-sized enterprises", which was 155,640.<br /><br />The number of garment factory workers was also different in the two reports. The Labour Ministry's report said there were 763,820 workers at garment "enterprises and institutes" last year, while MIH reported there were 847,419 workers at garment "factories" – a difference of more than 80,000 workers.<br /><br />Hort Pheng, the director of the Industry Affairs Department at MIH, said he did not know why the data or terminology was different and insisted his ministry's report was the accurate one.<br /><br />"Our data is the key number, and the only data that is submitted to the Council of Ministers," Pheng said. "I have no idea where the Ministry of Labour's records are from."

Discrepancy among ministries over garment data

Annual reports from two ministries released on Monday appear to show significantly different numbers of factories, enterprises and garment f...

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