IFC-backed logistics hub to boost connectivity, trade in Cambodia
Cambodia is set to have its first modern, world-class logistics complex as the International Finance Corporation (IFC) recently signed a new collaboration agreement with two of the region’s leading logistics companies. The financial institution feels the new partnership will deliver a major boost to infrastructure, ...
Khmer Times Staff
https://www.khmertimeskh.com/501241224/ifc-backed-logistics-hub-to-boost-connectivity-trade-in-cambodia/
Consumers’ complaint mechanism soon, NBC says
The National Bank of Cambodia has prepared a draft proclamation on standardised or common consumers’ complaint response mechanism for all banking, payment and financial institutions in the country to comply with NBC’s guidelines after consumers have expressed dissatisfaction over the existing mechanisms, said a senior ...
Kang Sothear
https://www.khmertimeskh.com/501325554/consumers-complaint-mechanism-soon-nbc-says/
Spirits high after NBC’s prakas on capital rules
The National Bank of Cambodia’s (NBC) recent two-pronged prakas on capital buffers and the capital adequacy ratio (CAR) of banking and other deposit-taking institutions, which aims to provide a clearer classification system for assets, is poised to strengthen the industry and enhance risk resilience, local ...
May Kunmakara |
https://www.phnompenhpost.com/business/spirits-high-after-nbcs-prakas-capital-rules
Gov’t to exempt patent tax for online press
The Royal Government of Cambodia (RGC) has agreed to exempt patent tax for small online press institutions as well as reduce 50 percent of the registration fee to the new press united in the Ministry of Information (MoI) for the next five years, said a ...
Nhean Chamrong
https://www.khmertimeskh.com/501398047/govt-to-exempt-patent-tax-for-online-press/
Calls out for vocational programme enrollments
The Ministry of Labour and Vocational Training has urged young people to promptly register for courses at technical institutes throughout the country. The move follows the government’s official announcement of a national programme on technical and vocational training for 1.5 million young individuals from impoverished ...
Van Socheata
https://www.phnompenhpost.com/national/calls-out-for-vocational-programme-enrollments
IMF cuts 2011 growth outlook to below 6%
Damage to Cambodia’s rice crop from widespread flooding earlier this year will likely cause economic growth to fall below 6 percent, according to the International Monetary Fund (IMF), which yesterday offered the lowest gross domestic product (GDP) prediction so far In a statement, the IMF chose ...
City Hall hands out Boeng Kak land titles
Marking another milestone in the years-long struggle between the government and the families of Phnom Penh’s Boeng Kak lake community, Phnom Penh Governor Kep Chuktema handed out 254 land titles to lakeside residents at City Hall on Saturday. But with the government shrouding the titling process ...
Kingdom’s consumers told to save gas
Economy and Finance Minister Keat Chhon yesterday urged consumers to limit their gasoline consumption in the face of rising prices, saying the Cambodian government would not boost the hundreds of millions of dollars he claimed it already offered in fuel subsidies. Speaking at the Ministry of ...
Aviation in the Kingdom soaring with new flights and airport plans
Cambodian aviation continues its ascent with the Oct. 1 launch of Singaporean low-cost carrier Tiger Airway’s daily direct service to Phnom Penh, ongoing airport expansions and the announcement of several new airport projects. Currently, there are more than 20 international airlines offering service to Cambodia for a ...
Cambodian Stock Exchange sees challenges, opportunities
I visited the Cambodian Stock Exchange (CSX) last September in the heart of Phnom Penh. It had officially “opened” a few months prior but no companies were listed yet. The trading room was filled with new desks and computer monitors, waiting for someone to power ...
http://www.chinapost.com.tw/business/global-markets/2012/05/07/340280/Cambodian-Stock.htm
Fire Insurance Costs Soar for Garment Sector
Large payouts last year by local insurance companies to two garment factory owners and regional natural catastrophes have resulted in a huge hike in the cost of fire insurance for commercial premises in Cambodia, brokers said. Cambodia’s insurance industry paid out some $24 million in fire ...
Wary of China, Companies Head to Cambodia
Tiffany & Company is quietly building a diamond-polishing factory in Cambodia, a country popularly associated more with killing fields and land mines than baubles. Some of Japan’s biggest manufacturers are also rushing to set up operations in Phnom Penh to make wiring harnesses for cars and ...
Construction Sector Faces Chronic Labor Shortage
Cambodia’s construction sector is facing a massive labor shortage due to a recent boom in construction projects throughout the country and workers migrating en masse to Thailand in search of higher wages. In 2012, the construction sector expanded rapidly with the total value of approved projects ...
http://www.cambodiadaily.com/news/construction-sector-faces-chronic-labor-shortage-19742/
Mobile Firms Agree to Stop Price Dumping
Cambodia’s nine mobile phone operators on Friday agreed to refrain from engaging in unfair competition by offering generous top-up bonuses aimed at increasing their market share, officials said. Mao Chakrya, director of the Telecommunication Regulator of Cambodia (TRC), said that all of the country’s operators agreed ...
http://www.cambodiadaily.com/business/mobile-firms-agree-to-stop-price-dumping-20689/
Villagers Say Homes Being Purposely Flooded
More than 120 families in Phnom Penh’s Dangkao district sent a letter on Monday to the district governor asking for his help in addressing the flooding problem that has seen some of their homes collapse and has forced many to seek temporary accommodation elsewhere, villagers ...
http://www.cambodiadaily.com/news/villagers-say-homes-being-purposely-flooded-33317/
The price of land development in Cambodia
Phnom Penh, a city once fabled for its stately colonial buildings and boulevards, and its serene riverside setting, is becoming a city of glaring contrasts. An economy left in ruins by the years of war and violent revolution in the 1970s and 80s grew at a ...
Way of life vanishing: villagers
Since 2011, an estimated 3,000 resin trees have been illegally razed by rogue loggers and a land concessionaire operating in Mondulkiri’s Sen Monorom district, villagers claimed yesterday. Resin trees are a vital source of income for the Phnong ethnic community in Sokdom commune, according to Thleuk ...
Phak Seangly
http://www.phnompenhpost.com/national/way-life-vanishing-villagers
Pchum Ben Prayers for Peace, Prosperity and Reconciliation
Some prayed for their businesses to prosper and for the CPP and CNRP to reconcile, others for peace and development. These and other wishes were made at pagodas across Phnom Penh and the rest of the country on Thursday, as the Pchum Ben festival got ...
Mech Dara
http://www.cambodiadaily.com/news/pchum-ben-prayers-for-peace-prosperity-and-reconciliation-44421/
Government Urged to Ease Pressure on Unions
Visiting representatives from the International Trade Union Confederation (ITUC) on Monday urged the Labor Ministry to withdraw its threat to revoke the licenses of six unions behind recent strikes, and to drop legal proceedings against union leader Rong Chhun. His visit follows garment worker protests ...
Mech Dara and Zsombor Peter
http://www.cambodiadaily.com/news/government-urged-to-ease-pressure-on-unions-50492/
Villagers in limbo as dam starts
Construction at the controversial Lower Sesan II dam site in Stung Treng province has already begun, according to villagers, who will today petition several ministries, the Chinese embassy and the headquarters of the Royal Group to open negotiations with them. According to the villagers, who travelled ...
Phak Seangly and Daniel Pye
http://www.phnompenhpost.com/national/villagers-limbo-dam-starts