The Taiwanese-owned garment company Grand Twins International (Cambodia) Plc says it intends to list on the Cambodia Securities Exchange (CSX) next month, in a boost for the Kingdom’s nascent stock market. Phnom Penh Securities (PPS), an underwriter for Grand Twins International (GTI), said yesterday the company ...

The lastest investment data from the government shows that Cambodia’s economy is moving away from the long-trusted staple of the garment sector and into more compplex industries. For more than a decade, garments have accounted for the lion’s share of the country’s export market as investors shied away ...

A lack of trade financing – the loans and guarantees needed to support import and export transactions – for international deals within developing Asian countries such as Cambodia is restricting opportunities for growth, a survey by the Asia Development Bank (ADB) has found. Of 106 banks ...

Cambodian police clashed Monday with workers at a factory that makes clothing for the U.S. sportswear company Nike, arresting seven, in the latest violence linked to a strike over salaries, union organizers and rights activists said. The protest at the Taiwanese-owned Sabrina (Cambodia) Garment Manufacturing plant ...

Cambodia is benefiting from a steadily growing service sector, but it needs to clear a number of obstacles to harness the sector’s potential, said a new Asian Development Bank (ADB) report released on Tuesday. The report, entitled Developing the Service Sector as an Engine of Growth ...

Cambodia’s economic growth rate is expected to exceed 7 percent both this year and next, the Asian Development Bank said Wednesday. The ADB maintained its forecast for this year’s economic growth at 7.2 percent, supported by strong exports and robust construction and service sectors. The ...

Labour Minister Ith Sam Heng and ministry spokesman Heng Sour yesterday accused unions and the opposition of derailing the government’s efforts at minimum wage reform by striking and stirring up violence for their own political gain. “The government has set up a committee to study the ...

Cambodian Prime Minister Hun Sen said Tuesday that the opposition-aligned unions, inciting garment workers to stage strikes for higher wages, must take responsibilities for any future closures of factories. “The government has worked very hard to attract investors to build factories and has urged manufacturers to ...

A teachers’ union has accused education officials in Oddar Meanchey province’s Anlong Veng district of stealing 21 million riel, or about $5,200, that had been slated as overtime payments for primary school teachers. In a letter sent to the Education Ministry on Monday, the Cambodia Independent ...

The governor of Phnom Penh’s Russey Keo district has been summonsed to court for questioning on allegations that he and his wife cheated a former secretary of state at the Ministry of Rural Development out of $730,000 through a fraudulent sale of state land and ...

Microfinance has grown exponentially in Cambodia and is not as stressed as reported by the international media, according to a study by research firm M-CRIL in partnership with the Cambodia Microfinance Association (CMA). A sector which had only 50,000 clients in 1995, now services 2.1 ...

International NGO Bridges Across Borders and umbrella group NGO Forum met yesterday morning with officials at the Ministry of Foreign Affairs who accused both of making “false” and “unfair” claims to the Asian Development Bank about the death of two children relocated by a railway ...

Being one of the biggest Asian telecommunications companies with operations across ten countries, Axiata Group Bhd has flexed its muscles to firm its grip on the Cambodian market After the acquisition of its rival Latelz Co Ltd, the second-largest mobile operator with a 21% market share ...

The successful hosting of the 21st Summit of the Association of Southeast Asian Nations (ASEAN) and its related summits here in November was definitely the biggest achievement of Cambodia in 2012 despite some sad events such as the death of the venerated former King Norodom ...

Claims in the Kingdom’s six insurance companies declined dramatically last year, while the total premium revenue sharply increased by more than 20 per cent year-on-year, official data from the General Insurance Association of Cambodia (GIAC) show. GIAC data shows total claims reached $4.8 million, down from ...

Cambodia’s trade deficit in the first half of the year grew 34.31 percent compared with the same period in 2011, reaching $1.36 billion, according to data released by the Ministry of Commerce. Though revenues earned from exports grew 12.13 percent to about $2.50 billion, a growing ...

The effects of the global financial crisis in 2008 and 2009 on the Cambodian economy showed how perilous having a narrow economic base can be. Since the Kingdom’s economy is dependent on a few “pillars”-garments, construction, tourism and agriculture-downturns in any of those sectors can ...

The number of women serving as lawmakers in the next mandate has dropped from last term, even after parties made final adjustments that saw more women moved up into key positions. According to official results released by the National Election Committee on Sunday, women will hold ...

The Free Trade Union (FTU) requested that the Garment Manufacturers Association in Cambodia (GMAC) permit workers nationwide to take a weeklong holiday in order to participate in the opposition’s planned demonstrations, according to a letter sent by the FTU this week. Signed by union president Chea ...

The Phnom Penh Municipal Court on Friday morning granted bail to two of the 23 union activists and protesters jailed following the lethal suppression of garment worker strikes by military police on January 3. Municipal court presiding Judge Leang Samnatt held an unscheduled hearing on Friday ...