Economy and commerce

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. ...

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 ...

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. ...

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. ...

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 ...

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. ...

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. ...

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. ...

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. ...

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 ...

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 ...

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 ...

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. ...

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 ...

Global commercial real estate firm CBRE has put the call out for retail tenants for the new Parkson City Centre Mall, which stands to become the second foreign mall developer to open in the Kingdom in as many years. ...

As a new round of Cambodian wage negotiations approaches this month, major U.S. and European retailers who source from the country say they will be watching the talks carefully and want to see fair pay for workers. Representatives of the brands like Gap, Levi Strauss, and ...

Singapore-based KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, referred to the announcement dated Aug. 11 in relation to the acquisition of the entire issued and paid up share capital of Chevron Overseas Petroleum (Cambodia) Limited (COPCL) and announces the ...

Cambodia is experiencing a runaway property boom that must be constrained by laws and regulations in order to draw investment from European developers, which are largely absent in the country, experts said at an industry conference in Phnom Penh on Wednesday. Simon Griffiths, senior manager at ...

Resintech Bhd, a local Polyethylene and poly vinyl chloride (PVC) pipe manufacturer, will tap into the rubber plantation sector in a bid to diversify its business segment given the healthy outlook on the rubber industry. Resintech’s managing director Datuk Teh Kim Poo said that according to ...

Cambodia needs increased investments, and for that, deeper regional as well as global integration is crucial, Moody’s Investors Service has said. The B2 sovereign bond rating is constrained by the small size of the economy, low per capita income and high level of dollarization while robust ...

CP Cambodia, a subsidiary of Thai conglomerate Charoen Pokphand Company Limited, has confirmed plans to double its swine production by 2019 to meet Cambodia’s demand for pork products. ...

Negotiations held on Friday between garment factory owners, union leaders and government officials failed to set a new industry minimum wage for next year, but a final decision will be reached by October 10, according to Labor Minister Ith Sam Heng. The tripartite Labor Advisory Council ...

Cargo headed to the U.S. from Cambodia will face added scrutiny due to what the U.S. Homeland Security calls inadequate security measures. According to the Cambodia Daily, U.S. authorities asked Cambodia ports to put additional security measures in place for several Cambodia ports in 2008, but ...

The Asian Development Bank (ADB) has maintained its growth projections for Cambodia in 2014. The ADB’s midyear outlook for Cambodia, released yesterday, states that Cambodia’s economy still stands to achieve 7 per cent growth by the end of the year, and potentially 7.3 per cent in ...