Economy and commerce

Brands including H&M and Gap urge Cambodia garment industry reform, seek meeting with Hun Sen

A group representing some of the largest apparel brands in the US and Europe – including Gap, H&M and ASOS – expressed “growing concern” on Tuesday over several controversial labour laws and ongoing court cases against unionists described as restrictive and unjust. ...

Daphne Chen
http://www.phnompenhpost.com/national/brands-including-hm-and-gap-urge-cambodia-garment-industry-reform-seek-meeting-hun-sen

Economy to grow by 7 percent in 2018: IMF

According to the latest forecast from the International Monetary Fund (IMF), Cambodia economy will grow by 7 percent this year on the back of higher public spending and steady growth in construction and tourism. The IMF’s forecast is slightly higher than the figure released by the ...

May Kunmakara
http://www.khmertimeskh.com/50114978/economy-to-grow-by-7-percent-in-2018-imf/

Amru Rice’s SRP project bears fruit

Local rice miller and exporter Amru Rice has started reaping the benefits of its partnership with the International Financial Corporation (IFC), beginning to collect rice from farmers working under contract farming schemes in Kampong Cham province. ...

Sum Manet
http://www.khmertimeskh.com/50114855/amru-rices-srp-project-bears-fruit/

Hong Kong economic delegation visits Kingdom

Hong Kong’s top economic official will lead a 48-person delegation to Cambodia on Monday and Tuesday to explore business opportunities related to China’s Belt and Road Initiative, according to a release from the official’s office. ...

Post Staff
http://www.phnompenhpost.com/business/hong-kong-economic-delegation-visits-kingdom

Kampot pepper hit by climate change

Farmers of Kampot pepper have had a rough planting season due to climate change, but the decrease in production is unlikely to seriously affect the market, according to the head of the Kampot Pepper Promotion Association (KPPA). ...

Cheng Sokhorng
http://www.phnompenhpost.com/business/kampot-pepper-hit-climate-change

Heavy rains washing out local salt industry in Kep, Kampot

Cambodia’s salt producers are suffering from a catastrophic harvest season that is likely to deplete their reserves and threaten the industry’s future prospects, according to leaders of the country’s largest salt federation. ...

Cheng Sokhorng
http://www.phnompenhpost.com/business/heavy-rains-washing-out-local-salt-industry-kep-kampot

Chinese patent deal to come into effect this month

The validation agreement between China’s State Intellectual Property Office (Sipo) and Cambodia will enter into force by the end of this month, helping protect Chinese invention patents in the kingdom. ...

Sok Chan
http://www.khmertimeskh.com/50113909/chinese-patent-deal-to-come-into-effect-this-month/

China, Cambodia venture to raise new building

Local group OTK Royal One signed a partnership agreement this week with Chinese firm Huasi Group to build a 62-storey commercial building in Phnom Penh. ...

Sum Manet
http://www.khmertimeskh.com/50113907/china-cambodia-venture-to-raise-new-building/

Sihanoukville to welcome new Marriott hotel

Local real-estate firm Grand Lion Group reached a deal with US-based Marriott group to manage and operate a new five-star hotel in the coastal city of Sihanoukville. ...

May Kunmakara
http://www.khmertimeskh.com/50113798/sihanoukville-to-welcome-new-marriott-hotel/

Kingdom’s list of certifications grows to 868

The Institute of Standards of Cambodia developed 63 new standards last year, bringing the total number of certifications available from the government to 868, though one industry representative said the system still needed improvement in order to facilitate exports. ...

Cheng Sokhorng
http://www.phnompenhpost.com/business/kingdoms-list-certifications-grows-868

CSX aims to boost awareness with deal

The Cambodia Securities Exchange (CSX) signed a partnership agreement with a business development company on Monday in an attempt to increase awareness about the country’s stock market among entrepreneurs. ...

Hor Kimsay
http://www.phnompenhpost.com/business/csx-aims-boost-awareness-deal

Battambang cement factory set to start production

A new cement factory in Battambang province will come online on Friday with an annual production capacity of 1.7 million tonnes of cement, according to Mines and Energy Minister Suy Sem. “We will have finished four cement factories that can produce nearly 7 million tones ...

Hor Kimsay
http://www.phnompenhpost.com/business/battambang-cement-factory-set-start-production

Prospect of another Koh Kong dam raised

The government is forming an interministerial committee to review an application from a Chinese firm to build another hydropower dam in Koh Kong province, according to a spokesman from the Mines and Energy Ministry. ...

Hor Kimsay
http://www.phnompenhpost.com/business/prospect-another-koh-kong-dam-raised

Expansion approved for Bokor National Park

New resorts, restaurants and casinos could be coming to Bokor National Park after environment officials endorsed an “improved” plan for the mountain along with oknha Sok Kong’s hotel company, according to the government’s news agency. ...

Daphne Chen
http://www.phnompenhpost.com/national/expansion-approved-bokor-national-park

Hun Manet: Sihanoukville is not Macau

Royal Cambodian Armed Forces chief of joint staff Hun Manet has said he disagrees that Preah Sihanouk province, where Chinese investment in hotels and casinos has skyrocketed, will become a second Macau. Lieutenant General Manet made the comment on Monday during a ground-breaking ceremony for the ...

Mom Sophon
http://www.khmertimeskh.com/50112151/hun-manet-sihanoukville-is-not-macau/

Government denies rumours of national cryptocurrency

Government officials today shot down rumours that Cambodia would be issuing its own national cryptocurrency, despite international media coverage and a high-profile government official’s plan to attend an event organized by the company responsible for the claims. ...

Hor Kimsay and Robin Spiess
http://www.phnompenhpost.com/business/government-denies-rumours-national-cryptocurrency

Money discussed for families set to be displaced by new Kandal airport

Officials are negotiating cash compensation for hundreds of villagers in Kandal province who will likely be displaced to make way for a massive airport project. Villagers and officials met at Kandal Stung District Hall yesterday to discuss the land dispute, one of several that have ...

Mech Dara
http://www.phnompenhpost.com/national/money-discussed-families-set-be-displaced-new-kandal-airport

US sends first soybean shipment to Cambodia

The US sent its first shipment of food-grade soybeans to Cambodia last week, exporting a total of 14 tonnes to both Cambodia and Myanmar to be processed in the receiving countries, according to US media reports. The shipments were sent to soy milk and tofu ...

Robin Spiess and Cheng Sokhorng
http://www.phnompenhpost.com/business/us-sends-first-soybean-shipment-cambodia-0

More crocodile farms given Cites recognition

Sixteen additional crocodile farms have been approved under an international conservation treaty to export Siamese crocodiles, bringing the total number of recognised farms in Cambodia to 21, according to a government official. ...

Cheng Sokhorng
http://www.phnompenhpost.com/business/more-crocodile-farms-given-cites-recognition

Brick prices climb to towering highs on demand from Sihanoukville

Brick prices in Cambodia have risen sharply in the last year, a trend that has accelerated over the first two months of this year due to growing demand from the rapidly developing coastal town of Sihanoukville. The price of 10,000 bricks hovered around $180 early ...

Hor Kimsay
http://www.phnompenhpost.com/business/brick-prices-climb-towering-highs-demand-sihanoukville

Official releases EU trade data amid spat

Cambodia exported about $3 billion worth of goods to the EU in the first nine months of last year, according to Ouch Borith, a secretary of state at the Foreign Affairs Ministry. Borith’s remarks came at the ministry’s annual meeting and were in response to a ...

Brendan O’Byrne
http://www.phnompenhpost.com/business/official-releases-eu-trade-data-amid-spat

Probe into Chinese investment to Sihanoukville still idle

A task force established a month ago to address problems stemming from an influx of Chinese investment to Sihanoukville has not received a single report of illegal businesses or taken any enforcement action, with one official maintaining it was impossible to take “serious” action for ...

Cheng Sokhorng
http://www.phnompenhpost.com/business/probe-chinese-investment-sihanoukville-still-idle

Analysis: The government has announced plans to cover workers’ severance, but is it the best solution to factory disputes?

The government will begin to pay out of pocket for severance wages for labourers at abruptly shuttered factories whose owners have fled, effectively enacting a pro-worker policy without further burdening private businesses – albeit at the risk of discouraging good corporate citizenship, experts say. ...

Yon Sineat and Brendan O’Byrne
http://www.phnompenhpost.com/post-depth-business/analysis-government-has-announced-plans-cover-workers-severance-it-best-solution

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