Economy and commerce

Economic policy and administration

Riel trust needed for stability

As much as $320 million is being lost annually as a result of Cambodia’s reliance on the US dollar, while a longstanding mistrust in the riel means there is less of the local currency in circulation, restricting the national bank’s ability to respond in times ...

Eddie Morton
http://www.phnompenhpost.com/business/riel-trust-needed-stability

Garment maker to list at $2.41 per share

Grand Twins International, Cambodia’s second stock exchange listing, will list at the lower end of its expected buy-in range, an announcement on the Phnom Penh Securities (PPS) website said yesterday. GTI is to begin trading on May 29 with nine million shares at $2.41 each, according ...

Daniel de Carteret
http://www.phnompenhpost.com/business/garment-maker-list-241-share

21 labor activists moved to Phnom Penh ahead of trial

Twenty-one labor activists who have been detained in Kampong Cham province since their arrests in January were moved to the main prison outside Phnom Penh on Wednesday. Supporters say the 21 are being detained as a lesson to other would-be demonstrators, after a brutal crackdown ...

Heng Reaksmey
http://www.voacambodia.com/content/labor-activists-moved-to-phnom-penh-ahead-of-trial/1899445.html

Trade deficit prompts call to diversify exports

Cambodia’s trade deficit expanded to almost half a billion dollars during the first three months of the year, according to the latest figures from the Ministry of Commerce. Between January and March, Cambodia’s exports reached $1.99 billion, up 19 per cent compared to the same period ...

May Kunmakara
http://www.phnompenhpost.com/business/trade-deficit-prompts-call-diversify-exports

Economist Says Asean Likely To Miss Key Deadlines for Integration

Southeast Asian countries are likely to miss a deadline for the economic integration of Asean in 2015, a leading economist says. Jayat Menon, an economist for the Asian Development Bank, told reporters in Phnom Penh Wednesday that Asean countries are behind on key targets for integration ...

Suy Heimkhemra
http://www.voacambodia.com/content/economist-says-asean-likely-to-miss-key-deadlines-for-integration-/1899474.html

Foreign tourists to Cambodia's Angkor heritage site up 12 pct in Q1

Cambodia’s Angkor Wat temple, a world heritage site, had attracted 778,740 foreign visitors in the first quarter of 2014, up 12 percent compared to the same period last year, official data showed Wednesday. The top five countries visiting the site are South Korea, China, Vietnam, Japan ...

Asean - China Centre News Staff
http://www.asean-china-center.org/english/2014-04/24/c_133286754.htm

Battambang Rice Investment gets international certification

Battambang Rice Investment Co Ltd says it has been certified as the first rice mill in Cambodia with Good Manufacturing Practices (GMP) and Hazard Analysis and Critical Control Points (HACCP). In a statement, the company said it received confirmation of GMP and HACCP certification in a ...

The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=YjA4ZDZhYTFmOTJ

Minister calls for old car ban

Imports of older cars and vans should be banned to help reduce pollution, Minister of Industry and Handicrafts Cham Prasidh said on Monday. Speaking to Cambodia’s business community at a Green Industry workshop in Phnom Penh on Monday, Prasidh said all countries had a role to ...

Chan Muyhong
http://www.phnompenhpost.com/business/minister-calls-old-car-ban

Cambodia's foreign trade up 15% amid ongoing political row

Cambodia’s trade volume with foreign countries has increased by 15 percent in the first quarter of 2014 even though the internal conflict between the ruling and opposition parties over July election results remains unsolved. The figures of the Commerce Ministry showed Tuesday that the Southeast Asian ...

Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=213997

Failing to sew up support

Cambodian stockbrokers yesterday admitted to a disappointing level of investor interest in Grand Twins International’s (GTI) initial public offering. Garment industry unrest, distrust in the private sector and a lack of liquidity in the market were all said to be discouraging investors from buying into the ...

Eddie Morton
http://www.phnompenhpost.com/business/failing-sew-support

Lack of funds delays railway

The China Railway Group’s planned $7.5 billion Cambodian north-south railway line has been delayed due to funding shortages, according to the company’s top official. Originally slated to begin construction last year, China Railway’s chairman, Li Changjin, told the South China Morning Post that work on the 400-kilometre railway ...

Daniel de Carteret
http://www.phnompenhpost.com/business/lack-funds-delays-railway

DefTech targets Cambodia, Myanmar jobs

Malaysia’s leading armoured vehicle maker DRB-Hicom Defence Technologies Sdn Bhd (DefTech) is setting its sights on Cambodia and Myanmar, said chief executive officer Amril Samsudin. ...

The Star News Staff
http://www.thestar.com.my/Business/Business-News/2014/04/21/DefTech-targets-Cambodia-Myanmar-jobs/

Nationwide garment factory strike sputters into second day

A few garment factories resumed operations in Phnom Penh on Friday, albeit at reduced capacity, as thousands of workers returned to the city after Khmer New Year celebrations in the provinces. While the majority of factories in Meanchey and Pur Senchey districts stayed closed, it remained ...

Sek Odom and Matt Blomberg
http://www.cambodiadaily.com/news/nationwide-garment-factory-strike-sputters-into-second-day-56740/

Cambodia's second stock listing delayed

A Taiwanese-owned garment maker has delayed its planned Cambodia listing by three weeks, setting back what would be just the second initial public offering to be held in this developing Southeast Asian nation. Grand Twins International (Cambodia) PLC now plans to list on May 29, according ...

Chun Han Wong
http://online.wsj.com/news/articles/SB10001424052702304626304579509390823129458

Mu Sochua to restart Freedom Park campaign

Mu Sochua, a lawmaker-elect for the opposition CNRP, announced Thursday that she will on Sunday morning resume her campaign to enter Phnom Penh’s Freedom Park. Last month, Ms. Sochua appeared at the park alone for four straight days—each day being physically barred by authorities—in an effort ...

Alex Willemyns
http://www.cambodiadaily.com/news/mu-sochua-to-restart-freedom-park-campaign-56712/

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