US denies conspiracy to topple Cambodian government
The US Embassy yesterday hit back at unsubstantiated claims of a United States-backed conspiracy to topple the government disseminated by pro-government media outlet Fresh News, even as local news reported that the Interior Ministry would investigate the purported plot.
Mech Dara and Shaun Turton
http://www.phnompenhpost.com/national/us-denies-conspiracy-topple-cambodian-government
US companies urged to invest in Cambodia
Cambodia last week asked the United States to increase investments in the Kingdom, claiming that working conditions here have improved dramatically in recent years. The appeal was made by Commerce Minister Pan Sorasak in a meeting on Friday with US Ambassador Patrick Murphy. Mr Sorasak
Strong growth projected for Cambodia’s banking sector
National Bank of Cambodia (NBC) governor Chea Chanto said on Monday that the Kingdom’s economy has maintained robust growth with low and manageable inflation which paves a favourable path for the banking sector’s continuous development. Meanwhile, fintech is playing an important role in the financial
May Kunmakara
https://www.phnompenhpost.com/business/strong-growth-projected-cambodias-banking-sector
Government to ramp up provincial budgets by $276 million next year
The government will ramp up the budget for provinces by more than $276 million next year to provide high quality and efficient services to the public, an increase of 32.28 percent from this year’s budget. Public Functions Minister Pich Bunthin yesterday said at a workshop
EU ambassador expresses hope for Kingdom retaining EBA status
New EU ambassador to Cambodia Carmen Moreno met with National Assembly president Heng Samrin and expressed her interest in helping Cambodia retain the “Everything But Arms” (EBA) agreement. Moreno paid a courtesy call on Samrin at the National Assembly on Tuesday on her first day
Niem Chheng
https://www.phnompenhpost.com/national-politics/eu-ambassador-expresses-hope-kingdom-retaining-eba-status
Telecom Firms Say Mobitel Owes $1.5M in Connection Fees
Cambodia’s largest mobile phone company CamGSM Co. Ltd., which operates under the MobiTel brand name, has been accused by three other firms in the market of refusing to pay more than $1.5 million owed to them in interconnection fees.
In a letter to Telecommunications Minister So Khun dated
Land Rights Worry UN
A mission to examine political rights in Cambodia has been increasingly overshadowed by the Kingdom’s dire land rights situation, the 2012 report from Cambodia’s UN special rapporteur on the situation of human rights, published yesterday, shows.
Cambodia’s rapporteur, Surya Subedi, conducted two fact-finding missions to Cambodia
Farmers Concerned That Draft Law Will Legalize Land Grabs
About 60 farmers met yesterday in Phnom Penh to rise their concerns about the law on the management of farmland that is currently being drafted by the Ministry of Agriculture, which critics say will legalize land grabbing.
The latest public version of the draft law grants power
Firms Need to Improve Accounting Standards
Cambodia’s businesses need to dramatically improve their accounting standards if they are to attract interest from investors abroad and reach the standards necessary to list on the recently launched stock market, experts and government officials said yesterday.
Speaking at the National Conference on Accountancy in Phnom
Cambodia Import-Export The First Half Year Analysis
Although the Cambodian government has projected Gross Domestic Product (GDP) of around 7 percent this year, a bit higher than come other international financial organizations like the Asian Development Bank (ADB) and the International Monetary Fund (IMF), it does not mean that the country’s projection could not
Cambodia Says No Strings Attached in Recent Chinese Aid
China has done a lot to support Cambodia over the years, with millions of dollars in aid, loans and investment. But after reports last week that China has pledged another $500 million in soft loans and grants-and publicly thanked Cambodia for its support in Southeast
ASEAN senior officials meet ahead of 30th ASEAN Ministers on Energy Meeting
ASEAN senior officials on energy gathered here on Monday to discuss and prepare documents for the 30th ASEAN Ministers on Energy Meeting and related meetings to be held on Sept. 12. The two-day preparatory meeting, under the theme “ASEAN Green Connectivity”, was chaired by Tun
http://news.xinhuanet.com/english/world/2012-09/10/c_131841006.htm
CP Group plans more investment in Indochina
Charoen Pokphand Group is leaning towards investing more in Indochinese countries in light of their growing economies and regional trade liberalisation through the Asean Economic Community in 2015.
Cambodia, Laos, Myanmar and Vietnam have a wealth of natural resources that could support the group’s products from
http://www.nationmultimedia.com/business/CP-Group-plans-more-investment-in-Indochina--30190834.html
Court Issues Injunction Over Mfone Debt
The Norwegian energy firm Eltek Valere won an injunction from the Phnom Penh Municipal Court earlier this month against the Thai-owned mobile operator Mfone after it filed a complaint claiming that Mfone had failed to pay $3.73 million in service charges, court documents obtained Friday
http://www.cambodiadaily.com/business/court-issues-injunction-over-mfone-debt-4878/
Japanese Investment Grows; Hurdles Remain
Japanese investment in Cambodia is steadily increasing as a result of sharply rising wages in China and other Southeast Asian nations. But experts warned this week that for sustained investment growth—and to avoid driving Japanese companies to other attractive investment destinations such as Burma —the
http://www.cambodiadaily.com/business/japanese-investment-grows-hurdles-remain-5144/
Telecom Cambodia Corruption Investigation Needs Time
The minister of posts and telecommunications yesterday said he needs more time to investigate corruption and mismanagement allegations at state-owned firm Telecom Cambodia before involving other government institutions.
Telecom Cambodia director-general Lao Saroeun is officially on sick leave, but staff at the company say they were
Bank Forecasts Drop in GDP Growth to 6.5%
The Asian Development Bank (ADB) yesterday revised its prediction for economic growth in Cambodia down to 6.5 percent as it warned that weakening demand from markets in the US and Europe could affect exports leaving the country.
The ADB’s biannual outlook report for 2012 also said
Commune Vote Predictable, but Margins Less So
With Sunday’s commune elections quickly approaching, the five main political parties are all predicting substantial gains over how they faired in the last election in 2007, though none deny that the ruling Cambodian People’s Party (CPP) will continue to dominate the polls.
And with the entrance
Rice Millers to Increase Capital
Cambodian rice millers will increase their capital to purchase unmilled rice this season as bankers agreed to provide more loans, insiders said on Monday.
Baitong will increase its capital to purchase up to 140,000 tonnes of fragrant unmilled rice, compared to last year’s 70,000 tonnes said
http://www.phnompenhpost.com/index.php/2012062857068/Business/rice-millers-capital.html
Cambodia Reaching New Heights
As much of the world struggles with post growth, Cambodia’s tourism and hospitality sector continued to expand and diversify, attracting more intraregional activity and especially from major emerging markets in Asia, MICE segments, as well as traditional leisure clientele.
Like neighboring countries Thailand, Vietnam, Malaysia and Laos, Cambodia has quickly emerged into a well sought-after tourist
