Economy and commerce
Investment
Labor minister responds to brands’ concerns
Labor Minister Ith Sam Heng said Tuesday that he has sent a letter responding to 30 international clothing brands who recently wrote to the government expressing their concerns over a draft union law which could allow for the arbitrary breakup of unions. Speaking outside a conference ...
Aun Pheap
http://www.cambodiadaily.com/news/labor-minister-responds-to-brands-concerns-54931/
ANZ keen to exit Cambodia bank stake
Australia and New Zealand Banking Group Ltd, the country’s third-biggest lender, is keen to exit its holding in Cambodia and will look at wholly owned business models wherever regulations allow. “We got out of a relationship, a small relationship, in Vietnam. We would like to ...
The Business Times News Staff
http://www.businesstimes.com.sg/breaking-news/asia/anz-keen-exit-cambodia-bank-stake-20140325
AEC lures Thai rice millers to invest in Cambodia
Thai rice millers are lining up to build mills in Cambodia to cash in on imminent regional economic integration, with experts warning Cambodian rice is likely to flood Thailand. An industry source said several millers from Thailand’s central and northeastern regions are preparing to set up ...
Bangkok Post News Staff
http://www.bangkokpost.com/business/news/401535/aec-lures-thai-rice-millers-to-invest-in-cambodia
Friends in high places
A Chinese developer with a “family-like” relationship to Prime Minister Hun Sen’s bodyguard unit has accelerated construction at its $5 billion resort – ostensibly cancelled by royal decree in 2010 – in a protected national park in Preah Sihanouk province. The 3,300-hectare Golden Silver Gulf resort ...
Daniel Pye and May Titthara
http://www.phnompenhpost.com/national/friends-high-places
Belarus minister to inaugurate tractor plant next week
Belarusian Foreign Minister Vladimir Makei is to attend the inauguration of a tractor assembly in Cambodia next week, according to the Belarusian Telegraphic Agency. “There are plans to discuss a wide range of issues of the bilateral agenda with the emphasis on the prospects of ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=NmI2MjQyOWVkMTI
It’s paradise – for some
On the shore of Koh Kong province’s Kiri Sakor district overlooking a cluster of islands, a flourishing new golf course lies vacant but for a handful of workers tending its empty greens. The Romanesque hotel behind it, replete with a bold central dome, luxury VIP suites ...
May Titthara and David Boyle
http://www.phnompenhpost.com/national/its-paradise-%E2%80%93-some
Construction on Cambodia Plaza resumes after years-long delay
After postponing construction due to the 2008 economic crisis, work on the ambitious Cambodia Plaza is gradually being resumed. The plaza is a mixed development project along Russian Boulevard close to the western end of the 7 January Overpass. Cambodia Plaza project manager Adam Liv said the ...
Siv Meng
http://www.phnompenhpost.com/real-estate/construction-cambodia-plaza-resumes-after-years-long-delay
Burger King chain to expand
Burger King will launch another three restaurants in Cambodia by the end of the year, according to a company official, in a move that will bolster the fast food chain’s share of a market dominated by KFC. Somach Sovary, support manager for Burger King Cambodia, said ...
Eddie Morton
http://www.phnompenhpost.com/business/burger-king-chain-expand
Second death confirmed on Kompong Speu sugar plantation
A 44-year-old woman was run over and killed by a harvesting machine on Sunday while working on a sugarcane plantation in Kompong Speu province owned by CPP Senator Ly Yong Phat, marking at least the second death on the plantation since December. Y Mom, originally from ...
Kuch Naren and Zsombor Peter
http://www.cambodiadaily.com/news/second-death-confirmed-on-kompong-speu-sugar-plantation-54417/
Sugar exports to stay duty free, EU trade czar says
European Union Trade Commissioner Karel de Gucht said he has no plans to launch an investigation into Cambodia’s much-criticized sugarcane plantations after a meeting with Commerce Minister Sun Chanthol in Phnom Penh on Tuesday. Bottom line: Cambodia’s free trade benefits to Europe are safe for ...
Zsombor Peter
http://www.cambodiadaily.com/news/sugar-exports-to-stay-duty-free-eu-trade-czar-says-54447/
City Mall DVD shops raided
Police raided four shops in Phnom Penh’s City Mall yesterday for allegedly selling pirated movies, a move that came a week after mall DVD vendors shut up shop to avoid a planned raid, the details of which were leaked beforehand. Officers conducted yesterday’s raid accompanied ...
Sen David
http://www.phnompenhpost.com/national/city-mall-dvd-shops-raided
Viriyah firm plans move in Cambodia
Thailand’s Viriyah Insurance, one of the biggest firms of its kind in the country, is seeking to expand its motor vehicle business in Southeast Asia, according to a report yesterday in the Bangkok Post. ...
Chan Muy Hong
http://www.phnompenhpost.com/business/viriyah-firm-plans-move-cambodia
Standoff in Areng Valley continues
Seven Chinese nationals were prevented from entering the Areng Valley in Koh Kong province yesterday as locals continued their standoff with the operator of the Stung Cheay Areng dam concession, villagers at the scene said. Ven Vorn, a community leader among those blocking a road used ...
Phak Seangly and Daniel Pye
http://www.phnompenhpost.com/national/standoff-areng-valley-continues
Porsche dealership to open
The newly appointed local distributor of German carmaker Porsche broke ground yesterday on a $2 million dealership that is set to open within eight months across from the Phnom Penh International Airport on Russian Boulevard. Equipped with four service bays, the planned Porsche Centre Phnom Penh ...
Eddie Morton
http://www.phnompenhpost.com/business/porsche-dealership-open
Workers demand bonus increase, labor laws
About 7,000 workers protested in front of the Wing Star Shoes Co. Ltd. factory in Kompong Speu province on Monday, demanding that the company raise their bonuses by $5 and properly enforce a number of labor laws, a union official said. The strike comes ten months ...
Aun Pheap
http://www.cambodiadaily.com/news/workers-demand-bonus-increase-labor-laws-54431/
Vendors fight for right to stay put
Food vendors at Phnom Penh’s O’Russey Market have fought and won a battle against eviction. On Friday, about 80 vendors, including some who have sold food at the market since 1997, were told to clear out of what has become a heavily congested parking lot outside ...
Chhay Channyda
http://www.phnompenhpost.com/national/vendors-fight-right-stay-put
EU concerned, but no threats to cut Cambodia aid, trade
The European Union has called on Cambodia to release 21 jailed activists and protesters and told the government during high level talks held here this week that a failure to reform the judiciary and electoral process could have severe consequences for the ruling party by ...
Simon Marks
http://www.cambodiadaily.com/news/eu-concerned-but-no-threats-to-cut-cambodia-aid-trade-54254/
Bitcoin enthusiast eyes Cambodia
Local entrepreneur Ki Chong Tran believes he has the solution to many of Cambodia’s problems. On March 1, Tran submitted what he described as a “long-held weight off his chest” – a six-page proposal to the New York-based Bitcoin Foundation outlining all the ways the ...
Eddie Morton
http://www.phnompenhpost.com/business/bitcoin-enthusiast-eyes-cambodia
New report says garment sector fails to meet UN standards
Cambodian garment manufacturers and the association that governs them are failing to meet the standards set by the U.N.’s Guiding Principles on Business and Human Rights, as evidenced by lethal violence against workers during garment strikes in January, when five people were shot dead and ...
Lauren Crothers
http://www.cambodiadaily.com/news/new-report-says-garment-sector-fails-to-meet-un-standards-54191/
Eighth EU-Cambodia Joint Committee concludes in Brussels
The 8th EU-Cambodia Joint Committee was held in Brussels on Thursday, preceded by the subgroups on development cooperation, on trade and on institution building, administrative reform, legal and judicial reform, governance and human rights, the European bloc said in a press release. The two sides ...
RTT News Staff
http://www.rttnews.com/2285917/eighth-eu-cambodia-joint-committee-concludes-in-brussels.aspx?type=gn&utm_source=google&utm_campaign=sitemap
On 1st day, garment strike gains little traction
Two unions that called for a stay-at-home strike by garment factory employees Wednesday had little success in mobilizing workers after six other unions, under pressure from the government and factory owners, pulled out of the planned industrial action on Tuesday. Union leaders who pushed ahead with ...
Mech Dara
http://www.cambodiadaily.com/news/on-1st-day-garment-strike-gains-little-traction-54038/
Power couple linked to Sinohydro project
Two of the country’s most powerful and politically connected business owners are on the board of governors of the company thought to have brokered a controversial deal between the world’s largest hydropower developer and the Cambodian government, documents obtained by the Post show. Cambodian People’s Party ...
Daniel Pye
http://www.phnompenhpost.com/national/power-couple-linked-sinohydro-project
Construction on triple-tower Times Centre to start in June
Work on a triple-skyscraper complex near Olympic Stadium announced in February is due to get under way in June this year and be completed in 2017, according to the project supervisor. With its slogan “The heart of Phnom Penh”, Times Centre is slated to feature three ...
Siv Meng
http://www.phnompenhpost.com/real-estate/construction-triple-tower-times-centre-start-june
Grand Twins sets listing date
Taiwanese garment manufacturer Grand Twins International says it will officially list and start trading on the Cambodia Stock Exchange (CSX) on May 8 after spending several weeks whipping up interest from local investors, whose appetite remains on the low side so far. Stanley Shen, a spokesman ...
Eddie Morton
http://www.phnompenhpost.com/business/grand-twins-sets-listing-date