Economy and commerce
‘Killing Fields’ producer: Cambodia needs stability above all
David Puttnam, the U.K.’s trade envoy to Cambodia and the producer of the 1984 film “The Killing Fields,” on Tuesday warned that Cambodia could go the way of war-torn Middle Eastern countries if it fails to make stability a priority. ...
George Wright and Hul Reaksmey
http://www.cambodiadaily.com/news/killing-fields-producer-says-cambodia-needs-stability-above-all-69843/
Another wage body to form
Following a meeting with parliamentarians at the National Assembly yesterday, Minister of Labour Ith Sam Heng announced the ministry would form a 27-member committee to study technical aspects of raising the minimum wage in Cambodia’s garment sector. The new committee will comprise nine representatives each from ...
Pech Sotheary and Sean Teehan
http://phnompenhpost.com/national/another-wage-body-form
Vegetables get more attention
Cambodian authorities are stepping up inspection efforts of vegetable imports along the border after Vietnamese produce shipped to the European Union was found to contain harmful bacteria, an official from the Kingdoms import inspection unit said yesterday. Vietnamese media reported last week said that the European ...
Chan Muyhong
http://phnompenhpost.com/business/vegetables-get-more-attention
Labor minister to face lawmakers’ questions
Labor Minister Ith Sam Heng has agreed to appear before lawmakers today to answer questions about ongoing minimum wage negotiations for garment workers, a controversial draft union law and other pressing labor issues, according to the opposition CNRP. ...
Mech Dara
http://www.cambodiadaily.com/news/labor-minister-to-face-lawmakers%e2%80%88questions-69768/
Thailand seen as growing source of counterfeit dollars in Southeast Asia
He may be just the police chief of Battambang, a languid riverside town in western Cambodia, but, recently, people have taken to calling Brig Gen Sar Theth the $7 million man. On Sept. 19, Brig Gen Theth’s officers tracked three Thai men in a pickup truck ...
Prak Chan Thul, Andrew R.C. Marshall and Amy Sawitta Lefevre
http://www.bangkokpost.com/news/crime/437384/record-bust-in-cambodia-highlights-boom-in-us-dollar-counterfeiting-in-thailand
Cambodian trade unions lead protest to demand higher wage for garment workers
Six Cambodian trade unions led around 1,000 garment workers to march through streets here on Sunday to demand a higher minimum wage as annual talks on a wage hike are scheduled for next month. ...
Global Post News Staff
http://www.globalpost.com/dispatch/news/xinhua-news-agency/141012/cambodian-trade-unions-lead-protest-demand-higher-wage-garme
Garment workers march for higher wages
More than 1,000 garment workers gathered in Phnom Penh and marched through the city center Sunday, demanding a “decent wage” from their factories, the largest garment-sector demonstration in the capital since military police fatally suppressed a protest for higher wages in January. ...
Mech Dara and Zsombor Peter
http://www.cambodiadaily.com/news/garment-workers-march-in-push-for-higher-wages-69635/
IMF maintains Cambodia's projected growth at 7.2 pct in 2014
The International Monetary Fund (IMF) on Friday kept its projection for Cambodia’s economic growth rate at 7.2 percent this year and 7.3 percent next year. ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-10/10/c_133705938.htm
British PM's Trade Envoy to visit Cambodia next week
The Lord Puttnam CBE, British Prime Minister’s Trade Envoy, will pay an official visit to Cambodia on 13rd and 14th October, according to a statement by British Embassy in Cambodia Friday. The statement said the purpose of his visit is to strengthen trade and investment ties ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/british-pms-trade-envoy-to-visit-cambodia-next-week-7476
Hun Sen tells King Buddhist Institute’s land not for sale
Government denials over the rumored development of the Buddhist Institute have reached the highest levels, with the prime minister penning a letter to the king to assure him the land is not for sale. In a letter addressed to King Norodom Sihamoni dated October 6 and ...
Khuon Narim
http://www.cambodiadaily.com/news/hun-sen-tells-king-buddhist-institutes-land-not-for-sale-69609/
Cambodia's rice export sees slight increase in 9 months
Cambodia exported 269,370 tons of milled rice in the first nine months of 2014, up 1.2 percent from 266,123 tons over the same period last year, according to official data released Thursday. ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-10/10/c_133703282.htm
Latest garment export figures show growth
Garment and footwear exports earned $3.92 billion over the first eight months of 2014, up more than 7 percent year-on-year, according to new figures from the Ministry of Commerce. The latest numbers show a slowdown after year-on-year earnings for the first six months of the year ...
Hul Reaksmey and Zsombor Peter
http://www.cambodiadaily.com/business/latest-garment-export-figures-show-growth-69546/
Australian firm pulls out of Roxy Casino deal
A Sydney-listed company has pulled out of a share purchase deal to acquire the Roxy Casino in Bavet City, citing slack company procedures that suggest the casino “is not currently ready for public company life,” a filing to the stock exchange says. ...
George Styllis
http://www.cambodiadaily.com/business/australian-firm-pulls-out-of-roxy-casino-deal-69548/
Chinese squeeze out tour groups in Siem Reap
Japanese and Korean tourists are being turned away from hotels in Siem Reap City due to an increase in bookings by Chinese visitors, Tourism Minister Thong Khon said on Wednesday. Speaking at the tourism industry’s three-day expo on Phnom Penh’s Koh Pich island on Wednesday, Mr. ...
Kang Sothear and George Styllis
http://www.cambodiadaily.com/business/chinese-squeeze-out-tour-groups-in%E2%80%88siem-reap-69544/
World Bank in spotlight
As the World Bank considers supplying fresh loans to Cambodia, a new study uses the country as exhibit A for how the financier effectively sponsors corporate land grabs at the expense of the rural poor it purportedly helps. Three years ago, the bank’s own inspectors found ...
Laignee Barron
http://www.phnompenhpost.com/national/world-bank-spotlight
Cambodia's banks continue enjoying strong growth this year: vice-governor
Cambodia’s banking sector has continued enjoying robust growth in both loans and deposits this year, Ouk Maly, vice-governor of the National Bank of Cambodia, said Wednesday. ...
Global Post News Staff
http://www.globalpost.com/dispatch/news/xinhua-news-agency/141008/cambodias-banks-continue-enjoying-strong-growth-year-vice-go
New airline begins domestic flights in Cambodia
Apsara International Air, jointly owned by Chinese and Cambodian investors, on Wednesday started to operate daily domestic flights from the Cambodian capital to the tourist resort of Siem Reap. The airline operates with an Airbus-320 aircraft. ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/world/2014-10/08/c_133699903.htm
Neuroscience center opens at hospital
Cambodia launched its first full-scale public neuroscience centre at Calmette Hospital in the capital yesterday. The $10.8 million, 90-bed Centre De Neurosciences – complete with a neurosurgical ward and research unit – will seek to treat patients regardless of their ability to pay. ...
Taing Vida
http://www.phnompenhpost.com/national/neuroscience-centre-opens
Cambodian officials, CEOs discuss country's economic future
Around 300 Cambodian government officials, business leaders, economists and researchers met in an international investment conference here on Monday to exchange views on the prospect of Cambodia’s economic development. ...
Xinuanet News Staff
http://news.xinhuanet.com/english/business/2014-10/06/c_133695677.htm
Cambodia's economic growth forecast to reach 7.2% in 2014, 7.5% next year – World Bank
Cambodia’s economic growth is forecasted to reach 7.2 percent in 2014, and 7.5 percent next year according to a report by World Bank on Monday. The report said Cambodia’s garments continue to be the key engine of growth, followed by construction. The poverty rate continued to ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/cambodias-economic-forecasted-to-reach-72-pct-in-2014-75-pct-next-year:-world-bank-7444
NagaCorp reassures investors over Cambodia licence
Cambodian casino operator NagaCorp Ltd has taken the step of reassuring investors about its casino licence rights in the country. It stated that the deal includes an exclusive right to operate a casino (NagaWorld, pictured) in the capital Phnom Penh, and the area within a ...
GGRAsia News Staff
http://www.ggrasia.com/nagacorp-reassures-investors-over-cambodia-licence/
Outstanding credit could reach $30B by 2020
The total amount of loans in Cambodia’s banking sector could rise to $30 billion by 2020, according to a report released today by Mekong Strategic Partners, a new investment and advisory fund. Amid such growth, banks will be challenged to drastically expand their operations and will ...
George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/outstanding-credit-could-reach-30b-by-2020-69127/
Cambodia holds fair to promote local fruits, vegetables
The fifth edition of the Cambodian fruits and vegetables show kicked off here on Friday, aiming to promoting local products and reducing imports of foreign fruits and vegetables, officials said. ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-10/03/c_133690684.htm
Poverty line $120, gov’t says
Workers in Cambodia’s capital earning less than $120 per month are living below the poverty line, according to the Ministry of Planning’s own calculation. At a September 17 workshop on the garment industry minimum wage, International Labor Organization Cambodia national director Tun Sophorn cited Ministry of ...
Sean Teehan
http://phnompenhpost.com/national/poverty-line-120-gov%E2%80%99t-says