Economy and commerce
Economic policy and administration
Mass faintings occur at 6 garment factories in Cambodia
At least 127 Cambodian garment workers at six different factories got fainted on Friday due to poor health, a local police chief confirmed. Yim Socheat, police chief of Phnom Penh’s Dangkor district, where the incidents occurred, said the victims had been sent to hospitals soon after ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=235570
Amid credit expansion, Riel loans minimal
Cambodia’s credit sector is expanding rapidly with the central bank saying now is the time to start infusing the market with riel and begin a process of de-dollarization in the country’s economy. But as the growth of dollarized loans outstrips those in riel, disbursing credit ...
George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/amid-credit-expansion-riel-loans-minimal-66610/
‘Orphanage tourism’ still an issue: UNICEF
The UN Children’s Fund in Australia has warned volunteers and tourists to avoid visiting Cambodian orphanages following critical reports from the press in recent weeks. In a post on its website, UNICEF Australia said “these types of tours exploit children and their families for the financial ...
Charles Rollet
http://www.phnompenhpost.com/national/%E2%80%98orphanage-tourism%E2%80%99-still-issue-unicef
Cambodia's rice export down 1.6 pct in 7 months
Cambodia exported 204,000 tons of milled rice in the first seven months of 2014, down 1.6 percent from 207,370 tons over the same period of last year, according to official data released on Tuesday. Sixty-four companies have brokered Cambodian rice for 54 countries and regions around ...
ASEAN-China Center News Staff
http://www.asean-china-center.org/english/2014-08/14/c_133556101.htm
Cambodia attracts 230,100 Chinese visitors in H1, up 19 pct
Cambodia has received 230,100 Chinese tourists in the first six months of 2014, an increase of 19 percent over the same period last year, according to a tourism report released on Wednesday. The report shows that China is the second largest source of tourists to Cambodia ...
Ecns.cn News Staff
http://www.ecns.cn/2014/08-13/129405.shtml
Factory strikes end after pay disputes solved
About 3,000 garment workers in Kompong Chhnang province agreed to end their protest and return to work Wednesday after confusion over their monthly salaries was cleared away. Workers from the Chinese-owned Jiun Ye Garment factory in Samakki Meanchey district went on strike Monday after picking up ...
Ben Sokhean
http://www.cambodiadaily.com/news/factory-strikes-end-after-pay-disputes-solved-66365/
Wrangling over wage may spur new unrest
Unions representing garment workers have pledged to reignite protests if the minimum wage for the industry is raised to only $115 next year, a sum they say was offered by the Garment Manufacturers Association in Cambodia during a meeting on Friday. The Labour Advisory Committee (LAC) ...
Mom Kunthear
http://www.phnompenhpost.com/national/wrangling-over-wage-may-spur-new-unrest
Cambodia, US trade up in first half of year
Trade data from the US shows Cambodian exports to the world’s largest economy increased 6 per cent during the first six months of the year. As of June 30, Cambodian exports to the US totalled $1.4 billion, up from $1.32 billion recorded during the same six-month ...
Hor Kimsay
http://www.phnompenhpost.com/business/cambodia-us-trade-first-half-year
Roxy Casino made ‘modest profit’ since soft opening
Roxy Casino in Cambodia has made a “modest profit” since its soft opening on May 26, parent company Cell Aquaculture Ltd said in a filing to the Australian Securities Exchange. It did not provide figures. The profit was attributed to its sports betting activities during FIFA World Cup 2014 ...
GGRAsia News Staff
http://www.ggrasia.com/roxy-casino-made-modest-profit-since-soft-opening/
China signs 100,000-tonne rice import agreement
The Chinese government-run China National Cereals, Oils and Foodstuffs Corporation (COFCO) will today formally agree to import 100,000 tonnes of rice from Cambodia, local officials say. Representatives from COFCO and Green Trade Co, a Cambodian government-owned agriculture firm, today met in Beijing to sign the agreement, ...
Chan Muyhong
http://www.phnompenhpost.com/business/china-signs-100000-tonne-rice-import-agreement
Sihanoukville struggles to shake its seedy image
This tourist town counts itself among the Most Beautiful Bays in the World Club and more than 1 million tourists each year are drawn to its tropical water and sandy shore. Yet when the U.S. Embassy last month warned its citizens to avoid some beaches ...
Ouch Sony and Simon Henderson
http://www.cambodiadaily.com/news/sihanoukville-struggles-to-shake-its-seedy-image-66108/
Gov’t seeks a greener tourism industry
The Tourism Ministry will announce a new “Green Hotel” standard later this month in an effort to make the industry more environmentally friendly, senior officials say. Tourism Minister Thong Khon said on Friday that while it will not be immediately compulsory for all hotel venues to ...
Chan Muyhong
http://www.phnompenhpost.com/business/gov%E2%80%99t-seeks-greener-tourism-industry
Unions, factories set positions on minimum wage raise
Unions and factories remained at odds over where to peg next year’s minimum wage for the garment sector after a meeting between representatives for both sides on Friday, though they agreed to resume the talks later in the month. Earlier this year, the Labor Advisory Committee, ...
Mech Dara and Zsombor Peter
http://www.cambodiadaily.com/news/unions-factories-set-positions-on-minimum-wage-raise-66112/
Naga aircraft set to take flight
Nagacorp, owner of Cambodia’s largest casino, NagaWorld, is on track to begin flying in high-rollers from China on a fleet of its own commercial aircraft, according to the company’s latest earnings statement and government officials. In a filing to the Hong Kong Stock Exchange on Friday, ...
Eddie Morton
http://www.phnompenhpost.com/business/naga-aircraft-set-take-flight
Infrastructure in place for GMS economic corridors: ADB
Most of the infrastructure required for enhanced connectivity in the Greater Mekong Subregion has been put in place, particularly the transport links that form the base of the envisaged economic corridors, Bindu Lohani, vice president of the Asian Development Bank, said yesterday. He made the remark ...
The Nation News Staff
http://www.nationmultimedia.com/business/Infrastructure-in-place-for-GMS-economic-corridors-30240591.html
Cambodia has shortage of capable human resource
The number of people seeking for jobs has been on the rise each day. However, companies, organizations and institutions are relentlessly complaining that human resource is both scarce and of low quality. Many students who have just graduated for about a year or two say they ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=14&token=OTNiZWMzYWFjMzU
Cambodia economy bucks regional trend
Driven by garment and improved agricultural export markets, Cambodia has bucked the wider trend of slowing Southeast Asian economies, according to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). ESCAP’s semi-annual Economic and Social Survey of Asia and the Pacific, published ...
Eddie Morton
http://www.phnompenhpost.com/business/cambodia-economy-bucks-regional-trend
Worker insurance near
The government’s long-pledged health insurance scheme for private sector employees, including factory workers, is just around the corner, officials promised yesterday while refusing to name a more specific date. On Wednesday, the Ministry of Labour held a public forum on the insurance plan, which is expected ...
Laignee Barron
http://www.phnompenhpost.com/national/worker-insurance-near
Cambodian insurance industry has 'Substantial potential for growth'
Nascent insurance markets in Cambodia, Cuba and Myanmar offer “significant opportunities” to foreign insurers, according to a US market research company. In a statement released Wednesday, Dallas-based Market Reports Store praised Cambodia’s “bold economic reforms and economic liberalisation” since 2000. ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=NjgyYjQ3MWI0YWN
Travel expo to draw big dollars and big buyers
The government has squirrelled away about $500,000 for the upcoming Pacific Asian Tourism Association Travel Mart (PTM), which is to run September 17-19. Tourism Minister Thong Khon told the Post yesterday that the government had approved the $500,000 budget for the event, which it is hoped ...
Chan Muyhong
http://www.phnompenhpost.com/business/travel-expo-draw-big-dollars-and-big-buyers
Cease and desist: Firm ordered to stop filling Kandal lake
The Ministry of Water Resources and Meteorology has ordered provincial authorities to stop Vattanac Properties, a land developer, from filling in a lake in Kandal’s Kien Svay district because it would affect water supplies to farms of nearby residents. ...
Sen David
http://www.phnompenhpost.com/national/cease-and-desist-firm-ordered-stop-filling-kandal-lake
Strike ends as sacked workers take cash
Seven union leaders protesting against being sacked from the Vantage River Textile factory in Preah Sihanouk province each agreed yesterday to accept $300 compensation. Worker representative and sacked employee Keo Srey Pich, 22, said three hours of negotiations between the union, workers and the company, in ...
Pech Sotheary
http://www.phnompenhpost.com/national/strike-ends-sacked-workers-take-cash
Cambodian PM says economy to grow by 7.5 pct this year
Cambodian Prime Minister Hun Sen said Wednesday that the country’s economy is forecast to grow by 7. 5 percent in 2014, driven by steady growth in agriculture, garment export, tourism, and construction. ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-08/06/c_133536721.htm
Cambodia ready for rice bid
Cambodia will join the bidding for the Philippine government’s latest rice import offer, a senior rice industry official says. The Philippine government’s National Food Authority (NFA) last week authorised the import of 500,000 tonnes of rice to the country. The bidding process, which is looking for the ...
Chan Muyhong
http://www.phnompenhpost.com/business/cambodia-ready-rice-bid