Investment

Vendors in Phnom Penh’s Ngin An market are protesting a government-backed bid by the market’s new owner to push them out by tomorrow. More than 40 representatives of 223 vendors waved a banner at the market yesterday to protest a letter from Russey Keo District Hall ...

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 ...

Assets of Cambodian Microfinance Institution Prasac reached US$210 million with the combination of newly borrowed $15 million from Germany’s Deg-Deutsche Investitions Und Entwicklungsellschaft Mbh (DEG), officials said during the signing ceremony. The seven-year agreement at an annual interest rate of 5.5 per cent would help Prasac ...

Cambodia expects to export around 300,000 tonnes of milled rice to China per year, Minister of Commerce Cham Prasidh said during the 44th ASEAN Economic Ministers Meeting in Siem Reap. Speaking to reporters after a meeting with Chinese Minister of Commerce Chen Deming on Tuesday night, ...

The Svay Rieng Provincial Court has charged a local police official with causing “unintentional injuries” during a shooting in February that left three garment factory workers injured in Bavet City, court officials said yesterday. Former Bavet City Governor Chhouk Bundith was charged with the same crime ...

Angkor Beer promoters involved in last August’s strike over unpaid overtime have been banished to less popular restaurants and beer gardens in the past year, a report on the profession says. According to Promoting Decency? Report on the Situation of Beer Promotion Workers in Cambodia, released this ...

Indonesia will soon sign a contract to import 100, 000 metric tones of rice from Cambodia over the next 5 years On his part, Hun Sen invited Indonesian Investors to invest in poor harvest businesses such as rice hulling in Cambodia ...

Construction at Camko City, an unfinished, US$2 billion satellite city in northwestern Phnom Penh, has resumed after at least one sentence connecting the mega-project’s chief executive with a Korean banking scandal was dropped. , the company behind Camko City, has resumed the construction of retail space ...

ASEAN needs to seek more funds from development partners to develop infrastructure and connectivity in order to narrow the gap among member states, said Prime Minister Hun Sen yesterday at the opening ceremony of the 44th ASEAN Economic Ministers meeting. The Premier said strengthening the connectivity ...

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 ...

US-listed corporations in Cambodia, including Chevron, Total, CNOOC and ConocoPhillips, that are engaged in extractive industries are now required to comply with additional transparency rules. The US Securities and Exchange Commission (SEC) implemented new regulations last week, two years after the legislation was initially passed by Congress. Cambodian monitors ...

Malaysia-based GO Communications Group has acquired 100 percent of a public relations agency in Cambodia as a part of its ambitious plan to control a leading PR network in Southeast Asia, chief executive officer Michael De Kretser said In terms of foreign direct investment in Cambodia, ...

The economic, social and environmental consequences of the construction of dams on the Mekong River could be devastating.. ANU research suggests that millions of people are in danger of going hungry if the dams proceed. Replacing fish as a protein source with alternative food would use ...

Tyre manufacturer MRF Ltd was looking at acquiring rubber estates to meet the company’s long-term raw material requirements and to bring down costs, a top official said. “We are scouting for acquisitions of estates abroad to meet long-term rubber needs,” said Koshy Varghese, executive vice-president, marketing, ...

Rocket Internet, the successful German-based internet copycat, says that despite its interest in Cambodia’s e-commerce market, tax issues in the Kingdom had forced it to “reposition” its projects. In July, the company launched an online retail site, saying it planned to invest millions in the country’s ...

One of Japan’s biggest banks, Sumimoto Mitsui Banking Corporation (SMBC) signed agreement with Acleda Bank to share market data and banking services. The deal will give Japanese investors information on the economy and offer other banking services and is aimed at improving bilateral trade and investment. The deal would ...

Danish brewer Carlsberg has vowed to improve the working conditions of Angkor and Carlsberg beer promoters in Cambodia as it tries to stamp out coerced workplace drinking. The company announced late last week it had joined forces with the Danish Confederation of Trade Unions (LO) to ...

About 50 villagers in Kandal province protested yesterday in an attempt to halt the activities of a Vietnamese sand-dredging company, which they said has caused a huge swath of their land to slide into the Mekong River. Residents of Kien Svay district’s Koh Prak village said ...

Social enterprise may be more than just a buzzword if last Saturday’s attendance at Cambodia’s second-ever conference on the matter was anything to judge by. The 350 person-plus crowd of attendees consisted predominately of Cambodians, for whom doing business appears to be about more than merely ...

China’s Export-Import Bank officials proposed to provide loans of up to US$70 million for rice milling in an effort to aid Cambodia’s efforts to export a million tonnes of rice by 2015, government officials said yesterday. The bank’s officials visited Cambodia last week to met with Cambodian ...

Indonesia was involved in advanced talks in Cambodia during the late 1980s. Known as the Jakarta Informal Meeting, Indonesia was trying to help put an end to Vietnam’s invasion of Cambodia, in what some observers called the Third Indochina War (1978-91). Despite these close ties, ...

United States Trade Representative Ron Kirk will be in Siem Reap, Cambodia, August 30-31, to participate in the Association of Southeast Asian Nations (ASEAN) Economic Ministers’ meeting and the ASEAN-U.S. Business Summit. The ten ASEAN countries are key economic and strategic partners for the United States, ...

The 10th High Quality Vietnamese Products and Exports trade fair opened yesterday in the Cambodian capital city of Phnom Penh. It has attracted around 150 firms who have  set up 250 booths to display more than 2,000 products, including electronics, consumer goods, stationary, books, construction materials, ...

Cambodians for Resource Revenue Transparency (CRRT) wrote a letter to Ms. Elizabeth M. Murphy, Secretary of U.S. Securities and Exchange Commission on February 7, 2012 to back up PWYP’s recommendations and to encourage the Commission to define the “Project” in relation to each lease, license ...