Economy and commerce

Economic policy and administration

Cambodian deputy PM leads delegation to China for bilateral meeting

Cambodian Deputy Prime Minister and Foreign Minister Hor Namhong will lead a group of senior officials representing relevant ministries to attend the first meeting of Cambodia-China Intergovernmental Coordination Committee to be held from Jan. 1 to 3 in Beijing. The Cambodian Ministry of Foreign Affairs said ...

People's Daily Online News Staff
http://english.peopledaily.com.cn/90883/8499809.html

Factories Closed Until Safety Guaranteed

The Garment Manufacturers Association of Cambodia (GMAC) on Sunday said all of the country’s 400-plus garment factories will remain closed until the government and striking trade unions can guarantee the safety of the factories and all employees who want to work. The decision, outlined in an ...

Aun Pheap
http://www.cambodiadaily.com/news/factories-closed-until-safety-guaranteed-49749/

Cambodians rally to demand PM's resignation

Tens of thousands of Cambodian opposition supporters, backed by striking garment-factory workers, rallied on Sunday to demand long-serving Prime Minister Hun Sen step down and call an election. The garment workers have in recent days joined the opposition protests to press their demand that the government ...

Prak Chan Thul
http://www.reuters.com/article/2013/12/29/us-cambodia-protest-idUSBRE9BS03P20131229

Increasingly, Cambodians Say They are ‘Suffering’: Poll

An increasing number of Cambodians see themselves faring worse, a Gallup polls suggests. In a global survey released earlier this month, the US-based firm ranked Cambodia near the very bottom in terms of life satisfaction, and it found that 34 percent of surveyed Cambodians consider themselves ...

Vannarin Neou
http://www.voacambodia.com/content/increasingly-cambodians-say-they-are-suffering/1819008.html

Human Rights Watch attacks IMF chief over Cambodia visit

American lobby group Human Rights Watch has lashed out at Christine Lagarde, the managing director of the International Monetary Fund, for her trip to Cambodia earlier this month. In a commentary posted Thursday, it noted that the IMF recognized that corruption threatened market integrity, distorted competition, ...

The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=11&token=YTNmNDE1NGJiZjY

Factories to lose millions

The economic fallout from garment worker protests and the industry’s response is expected to cost the key sector millions of dollars while tarnishing the country’s reputation among international buyers, interviews with suppliers and figures from previous periods of labour unrest show. Disputes over wages came to ...

Eddie Morton and Hor Kimsay
http://www.phnompenhpost.com/business/factories-lose-millions

‘New Voices’: Poor Education Hurts Economic Growth

Economic growth has a close correlation with the quality of education, and not its quantity, a graduate student at the University of Chicago says. While education for all has been introduced in Cambodia, more needs to be done toward offering equal access to quality education, ...

VOA Khmer News Staff
http://www.voacambodia.com/content/new-voices-poor-education-hurts-economic-growth/1816811.html

BIDV to open in Phnom Penh

A subsidiary of the Bank for Investment and Development of Viet Nam (BIDV) opened its seventh branch in Mean Chey District, Phnom Penh, on Sunday. The new branch is also expected to meet local demand and boost the development of trade and investment ties between ...

The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=YTY2YzNlODE3YTk

Low awareness of AEC pact

The Asean Economic Community (AEC) will cut red tape and allow freer trade between the bloc’s 10 member states. But many companies in the region aren’t even aware of the AEC blueprint, a sobering report from the Asia Development Bank has found. The bank also ...

Eddie Morton
http://www.phnompenhpost.com/business/low-awareness-aec-pact

Svay Rieng Workers Strike Again, Throw Rocks

Police briefly detained 13 garment factory workers on Thursday after about 20,000 workers, some throwing rocks, continued a strike that began Monday in Svay Rieng province’s Bavet City over wages and working conditions, a union official and police said. Union leaders had on Wednesday evening agreed ...

Aun Pheap and Alex Willemyns
http://www.cambodiadaily.com/news/svay-rieng-workers-strike-again-throw-rocks-49506/

Hun Sen’s Niece Opens Tax Consulting Firm

Local law and consulting firm HML, whose chairperson and founding partner is Hun Kimleng, a niece of Prime Minister Hun Sen and wife of National Police chief Neth Savoeun, has teamed up with Tokyo-based XAT Tax Corp. to form a consulting agency focused solely on ...

Joshua Wilwohl
http://www.cambodiadaily.com/business/hun-sens-niece-opens-tax-consulting-firm-49420/

For 2013, trade value to reach $16 billion

The value of Cambodia’s overall trade volume for 2013 is expected to reach $16 billion, according to the former Minister of Economy and Finance, Keat Chhon. The figure comes to a 14.4 per cent rise from last year. ...

Chan Muy Hong
http://www.phnompenhpost.com/business/2013-trade-value-reach-16-billion

Illicit Trade Linked to $130M In Losses

A report released by a U.S. financial research firm today says that Cambodia lost an average of $133 million per year between 2002 and 2011 through crimes such as import and export tax evasion, illegal movements of money and smuggling. The report, released by Global Financial ...

Alex Willemyns
http://www.cambodiadaily.com/business/illicit-trade-linked-to-130m-in-losses-49163/

Taxi Drivers Block Checkpoint In Poipet to Protest New Tax

Taxi drivers staged a large protest Wednesday at a customs checkpoint in Poipet City over customs officials’ demands for what the protesters said was an exorbitant tax on a small load of goods. At the checkpoint Wednesday, more than 50 taxi drivers blocked the road for ...

Hul Reaksmey
http://www.cambodiadaily.com/news/taxi-drivers-block-checkpoint-in-poipet-to-protest-new-tax-49159/

ACU Partners With Coca-Cola in Anti-Graft Agreement

During a four-hour pop concert in Phnom Penh to mark International Anti-Corruption Day on Monday, the Coca-Cola Company and the government’s Anti-Corruption Unit (ACU) signed an agreement that commits the international soft drinks company to avoid committing bribery in Cambodia. “Corruption is the barrier to development ...

Khy Sovuthy and Alex Willemyns
http://www.cambodiadaily.com/news/acu-partners-with-coca-cola-in-anti-graft-agreement-48957/

Inflation Rate at 4.2% to October

Cambodia’s inflation rate increased by 4.2 percent in the 12-month period to October, with food prices accounting for more than half of the rate, according to data released Monday by the National Institute of Statistics. The monthly inflation rate grew from 3.4 percent in August to ...

Hul Reaksmey
http://www.cambodiadaily.com/business/inflation-rate-at-4-2-to-october-48977/

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