Investment to aid low earners
US-BASED Overseas Private Investment Corporation (OPIC) yesterday signed a deal to provide a $5 million long-term loan to Thaneakea Phum (Cambodia) Ltd (TPC), a local microfinance institution (MFI), to support TPC’s expansion of its home improvement loans for low-income Cambodians. Fernanda Lima, director of US-based socially ...
http://www.phnompenhpost.com/2013022861653/Business/investment-to-aid-low-earners.html
Huge Chinese property project announced
Chinese firm Hainan Ruijin Investment Holding Company (HRIH) has announced an ambitious, US$5.8 billion property project including holiday resorts and high-rise apartments outside of Sihanoukville. Plans for the development, which has been dubbed Sihanoukville-Hainan City, have been approved by the Cambodian government. Further details, such as the ...
Concessions Not for Logging, Hun Sen Says
Prime Minister Hun Sen yesterday told senior officials to stop investors from using land concessions as a pretext for logging and to discuss the possibility of reducing the amount of time such concessions can last. The government placed a moratorium on logging concessions in 2002 to ...
Over 600% Growth in UAE Re-Exports to Cambodia in 2011:
The UAE’s non-oil exports to Cambodia have risen by 639 percent from 2010 to 2011, with total Emirati exports to the Asian country going up by 271 percent during which the UAE achieved a surplus in trade between the two countries of around USD 2.3 ...
Reserve rate doesn't worry local banks
Bankers have raised no concerns over the National Bank of Cambodia’s increase to the reserve requirement rate in order to maintain the stabilization of cash flow and inflation during a time of global financial difficulty. The increase, from 12 to 12.5 per cent, issued late last month, was ...
Fish exports performed swimmingly in 2012
Exports of Cambodian fish and shellfish products reached 1,618 tonnes last year, worth $3.5 million, a 16 per cent increase from 1,391 tonnes in 2011, according to figures from the Ministry of Commerce. “A major share of the total exports last year was from saltwater fish ...
Chinese tourist numbers high
Foreign tourists visiting Cambodia increased more than 24 per cent for the first eight months of the year compared to the same period last year, while tourism officials expected Chinese visitors could be ranked number two in the Cambodian tourism market in the future. According to ...
http://www.phnompenhpost.com/index.php/2012100459105/Business/chinese-tourist-numbers-high.html
IMF Says Cambodia’s Economic ‘Takeoff’ Not Yet Sustainable
Government action will be needed to ensure that nearly two decades of impressive economic growth continues in Cambodia, the International Monetary Fund (IMF) said in a report published Wednesday. In its 2013 World Economic Outlook, the IMF put Cambodia’s gross domestic product (GDP) growth for 2012 ...
http://www.cambodiadaily.com/business/imf-says-cambodias-economic-takeoff-not-yet-sustainable-18880/
Hong Kong delegation seeks business opportunities in Cambodia
A delegation from China’s Hong Kong Special Administrative Region are currently seeking possibilities to broaden bilateral trade and investment ties in Cambodia. The delegation comprising of business executives from 24 different firms in the financial and professional services, infrastructure and real estate, garments and textiles, telecommunications, ...
http://www.thecambodiaherald.com/cambodia/detail/1?page=11&token=Y2Y2MTQ4Zjk2YmR
Law Aimed at Protecting Local Products Approved
The Council of Ministers has approved a draft law aimed at protecting the patent rights of traditional Cambodian products, which if violated could be met with a fine of up to $5,000 and a five-year jail term. The law on geographical indication (G.I.), a status given ...
Hul Reaksmey and George Styllis
http://www.cambodiadaily.com/news/law-aimed-at-protecting-local-products-approved-46855/
Union leader: Salary negotiation scheduled for this month
Government representatives and union leaders will soon hold meetings to discuss garment worker’s salary increase for 2014, according to a union leader Friday. “Negotiations with factory employers to increase the salary for workers in the garment sector is scheduled to take place some time this August,” ...
The Cambodia Herald
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=MjFjNzM2YTI3MGZ
Cambodia sees 56 pct drop in cassava exports in 8 months
Cambodia had exported 288,300 tons of fresh and dry cassava in the first eight months of the year, down 56 percent compared with same period last year, the figures of the Commerce Ministry said Sunday. The country generated total revenue of 15.2 million U.S. dollars from ...
EastDay.com News Staff
http://english.eastday.com/e/130929/u1a7689224.html
Cambodia's inflation stands at 2.9 pct in first half of 2013: central bank
Cambodia’s inflation rate has accelerated to 2.9 percent in the first six months of the year, up from 1.8 percent over the same period last year, according to a report of the National Bank of Cambodia (NBC) on Wednesday. “The rate, below 3 percent, is low ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2013-08/28/c_132670860.htm
Scores of factories ‘set to sue’ over wage strike
The owners of 170 factories have handed power of attorney to the nation’s factories association ahead of a potential lawsuit directed at the leaders of six union groups. Garment Manufacturers Association in Cambodia (GMAC) secretary-general Ken Loo said yesterday that the factories would seek damages related ...
Sean Teehan
http://www.phnompenhpost.com/national/scores-factories-%E2%80%98set-sue%E2%80%99-over-wage-strike
Friends in high places
A Chinese developer with a “family-like” relationship to Prime Minister Hun Sen’s bodyguard unit has accelerated construction at its $5 billion resort – ostensibly cancelled by royal decree in 2010 – in a protected national park in Preah Sihanouk province. The 3,300-hectare Golden Silver Gulf resort ...
Daniel Pye and May Titthara
http://www.phnompenhpost.com/national/friends-high-places
Fear motivating relocation
Deep in the forest, about an hour from Stung Treng’s provincial capital through a rough and difficult road, just over half of the houses in an ethnic minority village have been tagged with bright orange spray paint saying, “LSS2”. According to a 2010 environmental impact ...
Phak Seangly
http://www.phnompenhpost.com/national/fear-motivating-relocation
Transport minister unveils new port for Preah Sihanouk province
With assistance from Japan, the government is planning to build a new container seaport in Preah Sihanouk province, Minister of Public Works and Transport Sun Chanthol revealed on Friday. Speaking at a press conference, he said a 14.5m deep port will soon be built in ...
Thou Vireak
https://www.phnompenhpost.com/business/transport-minister-unveils-new-port-preah-sihanouk-province
UXO explosion in Pailin province injures two men
Two men were seriously injured in an explosion of a 74 mm unexploded shell ordnance at Huy Tbong village in Pailin province. Lieutenant Colonel Kong Samnang, deputy police chief of Pailin city, said yesterday the explosion of the ordnance, which occurred at around 5pm on ...
Pech Sotheary
https://www.khmertimeskh.com/50728071/uxo-explosion-in-pailin-province-injures-two-men/
Press release on the US government's grant aid for economic rehabilitation to Cambodia following COVID-19 economic impact
On 21 May 2020, the Ministry of Economy and Finance conducted a press release on the US government’s grant aid for economic rehabilitation after the impact of COVID-19 on Cambodia’s economy. During the event, H.E. Patrick Murphy informed that the US government will provide $7.5 ...
Ministry of Economy and Finance
Cambodia deal says refugees will be settled outside Phnom Penh
The deal signed with Cambodia by immigration minister Scott Morrison will see refugees held on Nauru resettled “outside” Phnom Penh. As foreign minister Julie Bishop defended the deal on Sunday, a copy of the memorandum of understanding with Cambodia, which has been posted on Morrison’s official ...
Lauren Crothers
http://www.theguardian.com/world/2014/sep/27/cambodia-deal-says-refugees-will-be-settled-outside-phnom-penh