Economy and commerce

Third-party auditors hired by The Coca-Cola Company are conducting an audit of Cambodian sugar suppliers, NGO and community representatives said yesterday. “Coke has commissioned them to conduct an assessment on their suppliers. They will talk to all parties, the community, NGOs and the company,” said Eang ...

NagaCorp recently announced it would invest $369 million in its latest project opposite the Buddhist Institute. The Hong Kong-listed casino operator’s latest Phnom Penh venture, Naga2,will include a casino, a hotel and a conference hall. The announcement of the investment by NagaCorp, Cambodia’s biggest casino operator, was ...

Borey River Town, a residential property development around three kilometres northeast of downtown Phnom Penh on National Road 6A has been selling well for the first two months of the year, according to Teng Rithy, the development’s general manager. Rithy said that the rate of sales ...

Armed soldiers will continue to patrol Veng Sreng Street, the garment factory-lined thoroughfare in Phnom Penh’s Pur Senchey district where military police shot dead five workers during a nationwide strike last month, until labor unrest in the garment sector subsides, the deputy commander of the ...

The International Finance Corporation’s compliance ombudsman has officially accepted a complaint filed by ethnic minority families in Ratanakkiri province against the IFC for investing in rubber plantations accused of stealing land and clearing forests. In a letter sent to the families on Monday, the ombudsman deems ...

It will be years before oil starts to be produced by energy giant Chevron’s offshore site in the Gulf of Thailand, a senior Cambodian official said yesterday. Meng Saktheara, secretary of state at the Ministry of Mines and Energy, said that negotiations over taxation have continued ...

Cambodia’s first coal-fired power plant, which is expected to fill shortages in demand by producing an additional 100 megawatts of electricity every year, commenced full-time operations yesterday. Representatives from Malaysian company Leader Universal Ltd (LU), which built the plant, joined Prime Minister Hun Sen and ...

Garment workers’ calls for a $160 minimum wage are justified and should be honored, a new report by an international team of academics and labor experts has found. The authors—including a team from the University of London’s School of Oriental and African Studies, South Korean and ...

The Pacific Asia Travel Association will hold the 37th PATA Travel Mart at Diamond Island Convention & Exhibition Centre, Phnom Penh, Cambodia. The event is being hosted by the ministry of tourism of Cambodia and will take place from September 17th-19th. PTM 2014 will offer delegates the ...

Cambodian Prime Minister Hun Sen said Tuesday that the opposition-aligned unions, inciting garment workers to stage strikes for higher wages, must take responsibilities for any future closures of factories. “The government has worked very hard to attract investors to build factories and has urged manufacturers to ...

The Chinese-owned Union Development Group in Koh Kong province is bulldozing swaths of its land concession, originally intended for a massive tourist resort, to plant cassava and palm oil trees instead, a CNRP lawmaker-elect said Monday. Son Chhay, lawmaker-elect and CNRP chief whip, visited the area ...

Singaporean bakery chain BreadTalk will open up in two locations in Phnom Penh this July, the bakery’s franchisee confirmed yesterday. Ly Daline, CEO of Cham & Ly Corporation, whose company will run BreadTalk in Phnom Penh, said a rising middle class means changes in consumer ...

Vietnam and China lead the pack of foreign companies granted economic land concessions in Cambodia for agro-industrial development by a wide margin, new data released by the Ministry of Agriculture, Forestry and Fisheries show. According to the ministry’s annual report, released last month, since 1993 the ...

Representatives for the hundreds of families facing eviction from homes around Phnom Penh International Airport have agreed to let the compliance ombudsman of the International Finance Corporation (IFC), the private investment arm of the World Bank, mediate a solution to the land dispute with the ...

Expansion plans will double passenger capacity at Phnom Penh and Siem Reap airports in Cambodia, according to a local aviation official. The project will expand parking areas, terminals and all facilities at the two international airports, Khek Norinda, communications director for Cambodia Airports, said. ...

Cambodia’s stock exchange will receive a $2.5 million funding injection from the South Korean government in an attempt to draw more corporate interest from companies who may want to go public, according to a recent report on state media site AKP. The funds will go towards ...

A coalition of 18 labor unions and associations is today set to begin the first phase of a nationwide labor strike in the garment sector by calling on workers in about 100 factories to boycott working overtime, according to union leaders. Despite efforts by the government ...

Malaysia and Cambodia pledged to promote diplomatic relations, trade and investment in Cambodia. Trade between the both countries increased up to USD 168.72 (154%) in 2009 to USD 428.83 in 2013. Cambodia and Malaysia have cherished good relations on trade and investment. ...

The Court of Appeal on Friday overruled a decision by the Municipal Court ordering the company 7NG Group to provide a total of $195,000 in compensation to 13 families whose houses were destroyed during the violent eviction of the Dey Krahorm community in 2009. “The Court ...

The high-ranking government officials and global clothing brand representatives who took part in a meeting in Phnom Penh on Wednesday both raised concern​s​ about the media coverage of last month’s lethal repression of a nationwide strike by garment workers and its aftermath. The meeting was called ...

Trade between Cambodia and China’s Hong Kong increased by 19 percent in 2013, thanks to good ties between China and Cambodia, Raymond Yip, assistant executive director of the Hong Kong Trade Development Council, said here Friday. The total trade value between Cambodia and Hong Kong amounted ...

While more Japanese companies are flocking to Cambodia for investments in recent years, they are more diversified, ranging from restaurants to manufacturing industries and electronics. Yoshihito Katsuo, first secretary in charge of trade at the Japanese embassy in Phnom Penh, told Kyodo News on Friday that ...

Cambodia’s poverty rate fell dramatically between 2004 and 2011 – from more than 50 per cent to roughly 20 – but those gains are so precarious that a slight economic shock could send millions plunging back below the poverty line, according to a World Bank ...

Through a canopy of palm leaves, sunlight falls onto 1,000 four-month-old pepper plants, each one climbing about two feet up a wooden pole in the ground. “We will be ready to harvest pepper from here in about 18 to 20 months,” says one of Kep ...