Economist Say GDP to Reach 8.7%
Cambodia’s economic growth is expected to reach 8.7 percent this year as a result of the growth within the garment sector and the increased prices for agricultural products. The Economic Institute of Cambodia (EIC) has said that the garment industry, including the manufacturing of shoes,
Tourism stronger than predicted
The Kingdom’s tourism industry this year will perform much better than the government expects thanks in part to Cambodia’s growing popularity as a vacation destination, investment firm Cambodia Capital has said. Total tourist arrivals to Cambodia for 2011 will reach 2.85 million, while total revenues
http://www.phnompenhpost.com/index.php/2011090151407/Business/tourism-stronger-than-predicted.html
China IPO to benefit Kingdom
China’s Sinohydro Group Ltd earned US$2.12 billion in an initial public offering on the Shanghai Stock Exchange, the company announced yesterday. The move came just two months before Sinohydro launches the Kamchay Hydroelectric Dam in Cambodia’s Kampot province.
The company expects the IPO to help fund
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Banking sector shows growth in 3rd quarter
Taking advantage of strong economic growth this year, two of the country’s largest banks have posted strong third-quarter earnings.
Acleda Bank yesterday reported a net profit of $32.68 million in the first three quarters of the year, almost double the amount over the same period last
Food, fuel prices jump again
Heightened global food and fuel prices continued to inflate Cambodia’s market in September, and experts said flood damages would elevate costs further toward the end of the year.
Year-on-year inflation hit 6.7 per cent in last month, up 1 per cent from August, according to data
http://www.phnompenhpost.com/index.php/2011102552319/Business/food-fuel-prices-jump-again.html
Cambodian rice output grows in 2011 despite floods
Cambodia’s total paddy rice output reached 8.4 million tonnes in 2011, up from 8.25 million tonnes last year, according an initial assessment by the Ministry of Agriculture, Forestry and Fisheries.
Provincial MAFF officials from across the Kingdom met in Phnom Penh on Saturday, when data was
Thailand’s gem industry may move to Cambodia
Cambodia could overtake Thailand’s gem export market to the United States within five years, officials said yesterday.
Thailand’s growing economic status could soon disqualify it for tax exemption when exporting gems to the US market, but Cambodia’s standing as a Least Developed Country would allow it
International Tourists Up 13.4 Percent
The number of visitors arriving in Cambodia in the first six months of this year has increased 13.4 percent to 1,385,029, compared to the same period in 2010, Kong Sophearak, director of the statistics department at the Ministry of Tourism, said yesterday. The largest influx
Region’s links crucial
Improved transportation links will assist further economic growth in the region, as Cambodia’s economy continues to improve, officials said yesterday. Ministers from Cambodia as well as China, Laos, Vietnam, Thailand and Myanmar met yesterday at the 17th Greater Mekong Subregion Ministerial Conference held in Phnom
http://www.phnompenhpost.com/index.php/2011080550888/Business/regions-links-crucial.html
Economic Census Sheds Light on Businesses
The Ministry of Planning yesterday released the preliminary results of the 2011 economic census, which found that Cambodia has a total of 503,008 businesses nationwide, of which nearly 20 percent are based in Phnom Penh. The census, which began on March 1 and was financed
Viettel Dominates Cable Network in Cambodia
Military-run telecom Viettel has deployed more than 16,000km of fibre optics for its Metfone network and is now has the biggest internet coverage in Cambodia. According to a report from the Ministry of Post and Telecommunications of Cambodia (MPTC), cable network coverage in the country
http://vietnambusiness.asia/viettel-dominates-cable-network-in-cambodia/
Land Tycoon Lavishes Largesse on Sanctuary Staff
Officials working in Boeng Per Wildlife Sanctuary and in nearby communities said yesterday that they were receiving new motorbikes and digital cameras from businessman Try Pheap, who in recent months received large-scale rubber concessions in the Preah Vihear province sanctuary. Earlier this week, it was
Payout for swept-away workers
The company constructing a dam in Koh Kong province, where seven workers were swept away in floodwaters earlier this month, has paid US$1,000 to the families of each of the men for funeral expenses, but is denying responsibility for the incident, an official said yesterday.
Sok
Oil-claims talks 'highly likely'
Thailand is reportedly preparing to re-enter negotiations with Cambodia on the Overlapping Claims Area after officials from the two countries talked this week at the ASEAN Energy Business Forum in Brunei.
Thai Energy Minister Pichai Naripthaphan said yesterday that he met informally with Ministry of Industry
http://www.phnompenhpost.com/index.php/2011092351817/Business/oil-claims-talks-highly-likely.html
Union members 'dismissed'
A garment factory hit by two mass fainting incidents last month has been accused of trying to get rid of workers who subsequently joined the Free Trade Union to push for better working conditions at the facility in Kampong Chhnang province.
Free Trade Union President Chea
http://www.phnompenhpost.com/index.php/2011092351820/National-news/union-members-dismissed.html
Government suspends sending maids to Malaysia
Following repeated reports of abuse and illegal activity, Prime Minister Hun Sen on Friday ordered recruitment agencies to indefinitely stop sending Cambodian domestic workers to Malaysia, officials said Friday.
Secretary of State for the Labor Ministry Oum Mean said that he had received unofficial information about
Revenues for first seven months double to $1.6bn
The government has collected 6,557 billion riel, or about $1.6 billion, in revenues in the first seven months of 2011, a figure that is twice that of the $801 million in revenues that were collected during the same period last year, data released by the
Land titles sought in Kompong Thom
The Kampong Thom provincial governor issued a letter on Tuesday to villagers living in Santuk district, ordering them to provide documentation confirming their ownership of land they reportedly “purchased” from brokers after it had already been assigned to relocated families, officials said yesterday.
Deputy district governor
Students raise concerns over Mekong dam
Hundreds of students attending a forum yesterday on plans of regional governments to develop hydropower dams on the Mekong River expressed concern over the river’s future, and they urged the governments to abandon the projects or proceed with caution.
The forum in Phnom Penh was the
Minister directs mock trading; launch unclear
Finance Minister Keat Chhon joined officials of the Cambodia Securities Exchange (CSX) yesterday to conduct another day of mock trading of stocks ahead of the still-unknown launch of actual operations at the bourse, which opened in July but has yet to see a single stock
