Investment

Prime Minister Hun Sen yeserday lauded his government’s strong ties with China but said Cambodia does not give Chinese any preferential treatment. Mr. Hun Sen was speaking at the inauguration of the $47.1 million Kirirom III hydropower dam in Koh Kong province’s Sre Ambel District- constructed ...

Total fixed assets of Singaporean investment in Cambodia last year reached $82.7 million, a 500 per cent increase from $13.8 million in 2011, data from the Council for the Development of Cambodia (CDC) show. Singaporean entrepreneurs who have already entered the Cambodian market said they expect ...

As insolvency proceedings against bankrupt telecommunications firm Mfone begin, yet another company, Smart Mobile, has filed a court complaint to collect unpaid costs from the mobile operator, and the list of parties to have suffered from the firm’s collapse continue to grow. The Phnom Penh Municipal ...

The government’s guaranteed bailout of major infrastructure projects, such as the future 400-megawatt hydropower dam in Stung Treng province, requires a thorough assessment of forecasted risks – a capacity which the government currently does not possess, an Asian Development Bank (ADB) official said yesterday. Speaking on ...

The first buses directly connecting Thailand and Cambodia left Bangkok on Thursday, headed for Phnom Penh and Siem Reap, with the launch of a regular service to bolster tourism and economic ties between the two countries. The first airconditioned bus from Bangkok to Phnom Penh left Mor ...

The listed Phnom Penh Water Supply Authority (PPWSA) earned total revenues of 36.9 million U.S. dollars in 2012, up 25 percent year-on-year, according to the firm’s unaudited financial statement on Wednesday. The report said that the firm’s net income after tax was 8.56 million U.S. dollars ...

Cambodia achieved a GDP growth rate of 7.3 percent last year, Prime Minister Hun Sen said Wednesday, forecasting that the growth would be higher than 7 percent this year. Addressing a conference on 2013 Cambodia Outlook, he said the growth last year came from strong growth ...

Chinese Telecommunications giant Huawei has signed a deal to install thousands of transmitters across Cambodia to create a new high-speed mobile telephone and Internet network, according to a statement received yesterday. Huawei Technologies (Cambodia) Co. Ltd. and Xinwei (Cambodia) Telecom Co. Ltd. – a local subsidiary ...

With the launch of daily scheduled services, Qatar Airways becomes the only Middle Eastern airline flying to the South East Asian nation – and destination number 125 served worldwide. Guests gathered at Phonm Penh International Airport in celebration of the new air link, connecting Cambodia ...

Though still one of the poorest countries in the region, Cambodia’s recent economic growth has birthed a new class of consumer. And waiting in the wings is German automaker Porsche, which intends to sell its distinctive sports cars directly to Phnom Penh’s wealthy within a ...

Government action is needed if Cambodia is to reach its potential for economic growth and address growing inequality, according to a new report from a leading local think tank. The recommendations were included in the Cambodian Development Resource Institute’s (CDRI) annual development review 2012 to ’13. ...

Customs procedures are being examined in a time-release study to identify issues that can affect Cambodia’s trade competitiveness. According to experts, the study is an important tool to improve the Kingdom’s investment climate. The study will be conducted and organised by the GDCE with support ...

With Myanmar’s telecom industry showing signs of gradually opening, operators in Cambodia’s overcrowded telecom market see opportunities for potential investment. But in stride with the market’s latent potential come challenges, industry experts say, and lessons learned locally need to be applied overseas. “Myanmar remains one of the ...

In the hilly wilderness across southwestern Cambodia, the foundations of the country’s strengthening bonds with China are taking root. It is there that large dams supported by Chinese money are being built to literally bring the impoverished Southeast Asian nation out of darkness. The largest of ...

Cambodia’s insurance industry earned a total premium of $36 million last year, a 21 percent rise year-on-year, according to the industry’s report on Monday. The main sectors of the premium are from fire insurance of 28 percent, motor insurance of 19 percent, personal accident insurance of ...

More than 100 mobile phone vendors protested yesterday outside the Phnom Penh headquarters of bankrupt mobile operator Mfone over their stocks of phone credit recharge cards that are now worthless, as the defunct company has transferred its subscribers to MobiTel, which does not recognize the ...

Phnom Penh could have a public bus system operating under a single company before the end of 2013 at the earliest, Phnom Penh governor Kep Chuktema said yesterday. Global (Cambodia) Trade Development, a joint venture between Cambodian and Chinese investors, had originally been chosen alongside South ...

Kampong Speu palm sugar production is projected to decrease slightly this year due to a late start, though prices are expected to rise thanks to the sugar’s growing popularity following its geographical indication certification. Despite the drop in production, Hong Hoeung, director of Kampong Speu Palm ...

Investment in Cambodia from overseas surged by at least 44 percent last year, according to an estimate from the central bank, despite figures suggesting a reduction in the overall flow of foreign currency into Southeast Asian economies. Nguon Sokha, director-general of the National Bank of Cambodia, ...

Villagers near the Sesan River in Stung Treng province are a step closer to being forced to make way for a hydropower dam following a National Assembly vote on Friday, but they are no closer to learning the details of such a move, a community ...

Cambodia’s Tonlesap Airlines said Saturday that one of its scheduled flights from Taiwan to the Cambodian city of Siem Reap that day would be further delayed due to an engine failure, further enraging 167 already angry passengers who had been waiting for hours for their ...

PHNOM PENH: There are about a hundred Singapore-owned businesses in Cambodia, mainly located in the capital, Phnom Penh. Many, who set up shop there, feel the numbers have stayed low because there is a perception that the country is not safe. In 2011, Singapore invested close ...

Malaysia-based Hong Leong Bank, a subsidiary of Hong Leong Financial Group Berhad, is planning to open a branch in Cambodia sometime this year, which would make it the fourth Malaysian bank and the 33rd commercial bank in Cambodia’s crowded banking industry. Ngoun Sokha, director general of the ...

Nean Narin, a humble man and father of three children, says his family is going hungry. Narin lives in the village of Boeung Kak, situated on the edge of Cambodia’s capital, Phnom Penh. For years, he and other villagers relied on the Boeung Kak Lake ...