Cambodia Morning News For April 25

Cambodia Morning News For April 25

Cambodia morning news

HKL gets $15 million to grow MFI operations
Cambodian microlender Hattha Kaksekar Ltd (HKL) has secured a $15 million cash injection to expand its business operations from its parent company, Thailand’s Bank of Ayudhya, Hout Ieng Tong, president and CEO of HKL, confirmed yesterday.
The Phnom Penh Post

Krungsri pumps $15 million into Cambodian microfinance subsidiary
Krungsri (Bank of Ayudhya) has announced the capital injection of US$15 million (Bt515 million) into Hattha Kaksekar Limited (HKL), a wholly owned microfinance subsidiary in Cambodia.
– The Nation

NBC signs blockchain agreement
The National Bank of Cambodia (NBC) has signed an agreement with a Japanese firm to develop a blockchain-based payment system that could potentially allow for the regulated usage of a cryptocurrency, which would eliminate the use of formal financial institutions to send and receive money.
— The Phnom Penh Post

Is Cambodia ready for SE Asia’s tallest building?
There is a desire to urbanise like other big cities in the region, but experts say time is not right for phnom penH to reach for the sky
– The Nation

MFIs seek ministry support
The Ministry of Economy and Finance (MEF) is planning to form a joint committee chaired by government officials and microfinance institutions (MFIs) to promote small loan disbursements as the new 18 percent loan interest rate cap takes effect, according to an announcement released by the government on Friday.
— The Phnom Penh Post

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Citing Safety Protocols, Government to Send Maids to Hong Kong
Cambodia agreed to help Hong Kong meet its growing demand for domestic workers on Monday by signing off on a pilot program that could see the first group of 1,000 maids arrive in the region before year’s end.
The Cambodia Daily (paywall)

CNRP likened to Khmer Rouge by outlet
Pro-government media outlet Fresh News yesterday took a CNRP workshop with a US-based pro-democracy organisation as an opportunity to publish a scathing article likening the opposition to the murderous Khmer Rouge regime, a comparison dismissed as “absurd” by the opposition and scholars alike.
The Phnom Penh Post

Surrogate Babies Crossing Border a Concern, Ministry Says
Steps are needed to stop foreign parents from taking babies born to Cambodian surrogate mothers across the border without the required court orders and permissions, an Interior Ministry official said on Monday.
The Cambodia Daily (paywall)

Few takers so far for surrogacy exit policy
Nearly three weeks after announcing a way for intended parents to exit the country with babies born to surrogate mothers, few applications appear to have been submitted to the courts to begin the process.
The Phnom Penh Post

More products seek GI status
The European Union is expected to include Kampong Speu palm sugar into its registry of protected geographical indicators (GI) products by July, with the government now hoping the increased demand and added value of Cambodian agricultural products would pave the way for Kampot salt to receive the same treatment.
The Phnom Penh Post

Startups discuss local challenges
Cambodian startups currently face several regulatory challenges in pursuing growth and profitability, according to three of the Kingdom’s most successful startup founders who shared their experiences over the weekend with the hope to inspire increased innovation and entrepreneurship.
The Phnom Penh Post

After Charges Dropped, Former Khmer Rouge Cadre Chaem to ‘Live in Peace’
Im Chaem is riding her bicycle along a dusty road with her grandson towards a cattle field where she and her grandson will feed the livestock before sundown.

Cambodian Opposition Leader Optimistic About Communal Elections
Cambodia’s opposition party leader told his supporters in a video speech posted online on Monday that upcoming communal elections will be better than the last ones thanks to a revamped National Election Committee that includes members from both the Cambodian National Rescue Party (CNRP) and the ruling Cambodian People’s Party (CPP).
Radio Free Asia

China-Cambodia cross-border capital services platform launched
The Shenzhen Stock Exchange (SZSE)’s wholly owned subsidiary Shenzhen Securities Information Co., Ltd and the Bank of China Phnom Penh Branch jointly launched the China-Cambodia cross-border capital services platform and held its first road show event here on Monday.

Chinese Delegation’s Visit Signals Rising Interest in Cambodia
An association of Chinese real estate developers and construction firms has visited Cambodia to search for new investment opportunities, a change in tack that industry insiders see as a further sign of accelerating interest in the construction sector.
The Cambodia Daily (paywall)

Hun Sen Inaugurates Bridge Connecting Kandal, Vietnam
Prime Minister Hun Sen on Monday attended the opening of a $36.5 million bridge that links Cambodia’s National Road 21 in Kandal province to Vietnam’s An Giang province, boasting that the project would boost trade and cooperation between the two countries.
The Cambodia Daily (paywall)

Senior Chinese official to visit Cambodia
Chinese State Councilor Yang Jiechi will visit Cambodia on Thursday and Friday and co-chair the fourth meeting of the China-Cambodia intergovernmental coordinating committee with Cambodian Deputy Prime Minister Hor Nam Hong.

China’s Hong Kong to have first Cambodian domestic helpers
China’s Hong Kong Special Administrative Region (SAR) is expected to have its first batch of Cambodian domestic helpers this September, thanks to relaxation of visa restrictions in order to promote human communications with countries along the Belt and Road Initiative.

Gold Jewelry Repatriated to Cambodia
The Cambodia Daily reports that ten gold artifacts were handed over to Cambodian authorities by a private collector in London.

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A Treasure-Hunting Trip to Cambodia and Myanmar
In Myanmar and Cambodia—cousins in suffering and recovery—a renaissance of artistic craftsmanship is pushing out new signs of growth.
Condé Nast Traveler

Prime Minister Nguyen Xuan Phuc leaves Hanoi for Cambodian tour
PM Nguyen Xuan Phuc and his spouse officially begin their official visit to the Kingdom of Cambodia from April 24-25 at the invitation of his Cambodian counterpart Samdech Techo Hun Sen.

Cambodian workers bound for Hong Kong in effort to meet demand for skilled domestic helpers
The first batch of 1,000 Cambodian domestic helpers will arrive in Hong Kong this autumn as part of the city’s latest efforts to meet its increasing demand for maids.
South China Morning Post

Adding value to Cambodian tourism
Cambodian Prime Minister, Hun Sen, says the festival known as Angkor Sangkranta should be organised across the country, next year, besides the current venue in Siem Reap.
– TTR Weekly


Feature photo Brett Matthews
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