WEEKLY ECONOMIC UPDATED
Updated: 23-29 March, 2019

TRADE & COMMERCE | Event To Showcase French Products And Expertise

More than 50 French companies are expected to display their products on Saturday at the French Marketplace. The event – organised by the French Cambodian Chamber of Commerce and Industry, the French Embassy, and the French Institute of Cambodia – seeks to expand business ties between Cambodia and France. The exhibition will be held inside the French Embassy in Phnom Penh. It will feature music and arts workshops, a children’s area, sports activities, cooking demonstrations by a Michelin-starred chef and food tastings,       according to a press release from the embassy. (March 29, 2019 | Khmer Times)

TRADE & COMMERCE | Prime Minister To Meet With Private Sector Today

The Government-Private Sector Forum (G-PSF), an annual event where businesses get to address their concerns directly to the prime minister, will be held today at Phnom Penh’s Peace Palace.This year’s G-PSF, the 18th iteration, will add three new working groups – education, health, and property and construction – to the ten existing ones. The Government-Private Sector Forum was established in 1999 at the behest of Prime Minister Hun Sen to provide a reliable dialogue mechanism for consultation between the government and the private sector. Issues  addressed at the forum range from long. (March 29, 2019 | Khmer Times)

 

TOURISM | A Country Food Haven

Even without El Niño affecting the climate in Cambodia, the dry season is undoubtedly the most miserable time of the year in the Kingdom. The extremely hot and dry weather distresses everyone, especially city residents, while daily power outages limits people’s ability to cool themselves down. But don’t despair. Phum Thnout, located just around 20 kilometers from Phnom Penh, recommended by Taing Rinith, is an ideal retreat where you can find natural coolness, swim in a pool and eat good country food on just a small budget. You wake up on a Sunday morning and find that it is already sunny and very hot. You did not sleep well last night because of the heat. The power outages start in the morning and your fan and air-con are just as good as a slabs of rocks. (March 29  , 2019 | Khmer Times)

TOURISM | Exploring Wetland Along Upper Mekong River In Stung Treng

Trees with aerial roots exposed over the water, white sand islets dotted across limpid water, Irrawaddy dolphin pools and critically endangered fish breeding pools among braided channels and flooded forests; these are just some of the attractions drawing tourists from around the world to the upper Mekong River during dry season.​ North of Stung Treng province’s Stung Treng town is a wetland area of 14,600ha extending nearly 40km along the Mekong river straddling the Cambodia and Laos border. It is designated under the Ramsar Convention – an international treaty working for the conservation of wetlands – as a Wetland of National and International Significance. (March 28 , 2019 |The Phnom Penh Post)

FINANCE AND BANKING | NACD And NBC Sign Money Laundering Mou

The National Authority for Combating Drugs yesterday signed a MoU with National Bank of Cambodia to exchange information on money laundering and financing of terrorism. General Meas Vyrith, NACD secretary-general, said that the agreement aims to create a cooperative mechanism to strengthen cooperation in preventing and suppressing all crimes that threaten national, regional and global security. He said the Kingdom is now at peace and it offers opportunities for national economic development through regional and global trade, which can make it vulnerable to threats such as terrorism, transnational crimes, illegal drug production and trafficking

. (March 29, 2019 | Khmer Times)

FINANCE AND BANKING | Backing riel over greenback

Private sector financial institutions have urged the government to rein in some banks and microfinance institutions which are still promoting the US dollar instead of riel in rural areas while the majority are pushing for more use of the national currency in the Kingdom. The call was made yesterday during the 39th anniversary of Khmer Riel Day held at Aeon II to increase the public’s understanding on the importance of using the national currency and to boost its circulation among people from all walks of life. (March 26s , 2019 | Khmer Times)

AGRICULTURE | Farmers Battling Drought In Battambang

In Banan district, hundreds of farmers are struggling to survive as their crops are being destroyed due to a lack of water. Desperate, they are calling on the government to come to their aid as the Ministry of Rural Development today celebrates World Water Day. Banan district, Battambang province – Has Sarath stands on a bank of a pond in Slap Pang village here that villagers used to utilise as one of their main sources of water. The pond, which was dug by a Japanese organisation years ago, is now almost dry.. (March 27, 2019 | Khmer Times)

REAL ESTATE AND CONSTRUCTION| Triumph Commercial Center First Phase Is 30% Complete

The $1 billion TCC Triumph Commercial Center project being developed by Chinese company YunNan ShengMao Investment (Cambodia) Co Ltd has completed 30 per cent of its first phase, according to the project’s sales executive, Hak Yarith. Construction on the complex – comprised of four four-storey buildings, each with a shopping centre – began in November, and is expected to be completed by the end of this year. While the second phase, consisting of two skyscrapers, will begin late this year. TCC Triumph Commercial Center consists of shopping centres, apartments and tourism and entertainment facilities.   .(March 28 , 2019 | Phnom Penh Post)

 

REAL ESTATE AND CONSTRUCTION| Cambodian-Japanese Friendship Bridge To Re-Open Next Month

The Cambodian-Japanese Friendship Bridge will be temporarily opened to ease traffic flow during Khmer New Year next month, a Public Works and Transport Ministry official said on Tuesday. Chhim Phalla, the ministry’s department of roads director, said the bridge will be inaugurated on April 3 after rehabilitation work is completed ahead of schedule. He said that Prime Minister Hun Sen will preside over the inauguration.

(Mar 28, 2019| Phnom Penh Post)

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