Economy and commerce

Preliminary results of a new survey show a steady rise in the price of land in Phnom Penh since the country’s property boom in 2008 and spectacular bust in 2009. The initial findings of the survey by VTRUST Property Co. Ltd. examine land prices during the ...

The Cambodian government and rice exporters have dismissed allegations that rice exports to the European Union (EU) countries are contaminated with rice from Vietnam. Commerce Ministry representative told local sources that while it is true that some Cambodia rice is processed in Vietnam to match ...

To capitalise on a rising demand for pork, a state-owned Chinese company is pouring $200 million into ruling party senator and tycoon Mong Reththy’s pig farm in Preah Sihanouk province. ...

A pilot cashew-peeling factory in Kampong Thom province aims to make business easier for farmers who have traditionally relied upon sending their raw harvest elsewhere for processing. With $130,000 from the Asia Development Bank, the building went up in May on 3,600 square metres in Kampong ...

The Council of Ministers has nullified a 2009 law that set minimum prices on telephone calls, paving the way for regulators to reset the country’s telecommunications prices, which industry executives say are too high. The law, Prakas 232, which has been widely flouted, set a minimum ...

A union official at the center of a strike that started last Monday and involves an estimated 30,000 workers from two special economic zones (SEZs) in Svay Rieng province said Sunday that he has no control over the strikers, and does not know when or ...

Cambodian lawmakers on Friday endorsed the setting up of a new ministry specifically in charge of mines and energy, in the hope that oil and gas production will finally get under way in the next couple of years. The new Ministry of Mines and Energy will ...

CPP lawmakers including Prime Minister Hun Sen unanimously voted Friday for their party members, Suy Sem and Cham Prasidh, to become heads of the newly created Ministry of Mines and Energy, and the Ministry of Industry and Handicrafts, respectively. The 67 ruling-party parliamentarians present also approved ...

Cambodia’s nine phone service operators plan to establish an independent body to debate issues within the industry, according to a statement yesterday from the Telecommunications Regulator of Cambodia (TRC). Forming the Association of Telecommunications Operators in Cambodia, or the ATC for short, was agreed upon in ...

Police briefly detained 13 garment factory workers on Thursday after about 20,000 workers, some throwing rocks, continued a strike that began Monday in Svay Rieng province’s Bavet City over wages and working conditions, a union official and police said. Union leaders had on Wednesday evening agreed ...

The Alliance of Rice Producers and Exporters of Cambodia (ARPEC) has proposed a “Code of Conduct” for rice exporters of the country to prevent contamination of rice from other origins in rice exports to EU member countries. Under the Everything But Arms (EBA) trade ...

Garment industry, Cambodia’s largest foreign currency earner, reported a 22 percent surge in exports in the first 11 months of 2013, according to figures from the Ministry of Commerce on Thursday. The Southeast Asian nation exported apparel products in equivalent to 5.07 billion U.S. dollars during ...

Cambodia’s economy is expected to maintain the robust growth of over 7 percent this year even though the country is still trapped in political dispute and recovering from the aftermath of recent floods, senior officials and bankers said. But some analysts predicted that political trouble, coupled ...

An estimated 30,000 garment factory workers will resume work this morning after three days of strike action ended Wednesday when Svay Rieng provincial officials promised to help the strikers achieve their demands from factory owners. The mass strike led the owner of the Tai Seng Special ...

Cambodia’s Angkor Wat Temple, one of the world heritage sites, had received some 1.98 million international visitors in the first 11 months of 2013, up 8 percent from 1.83 million tourists over the same period last year, a tourism report said Wednesday. During the January-November ...

Local law and consulting firm HML, whose chairperson and founding partner is Hun Kimleng, a niece of Prime Minister Hun Sen and wife of National Police chief Neth Savoeun, has teamed up with Tokyo-based XAT Tax Corp. to form a consulting agency focused solely on ...

The Phnom Penh Special Economic Zone (PPSEZ) plans to raise money to fund an expansion through an initial public offering, a senior official from the Securities and Exchange Commission of Cambodia (SECC) said yesterday. If successful, PPSEZ could become one of the few companies to list on ...

Cambodia’s garment manufacturers and trade unionists on Monday began a negotiation on pay rise for garment workers in 2014 but reached no any agreement because the union representatives demanded to double the current wage. The talk was made between the employers represented by Nang Sothy, co-chair ...

Prime Minister Hun Sen was scheduled to meet with Japanese counterpart Shinzo Abe in Tokyo on Sunday, a day after Japan and the member states of Asean agreed to ensure “freedom of overflight” in the region. The agreement will likely be taken as an affront by ...

Two Cambodian companies on Monday signed Memorandums of Understanding (MoU) with Chinese companies to invest in the agricultural sector. One deal was inked between Chan Sothea, general director of Cambodia’s Century Rice Group, and Ivan, managing director of Shengen Yonglongxin Industrial Company. Under the agreement, the two ...

The value of Cambodia’s overall trade volume for 2013 is expected to reach $16 billion, according to the former Minister of Economy and Finance, Keat Chhon. The figure comes to a 14.4 per cent rise from last year. ...

Malaysian-owned company VW Win Holdings Plc launched lottery operation Camloto in the Kingdom this week, making it the second to go live in as many months. Camloto CEO Jimmy Kong unveiled the new start-up, which will draw its first ball tonight on all major TV stations, ...

Credit Suisse, a financial services firm based in Switzerland, has been accused of aiding land grabbing in Cambodia by becoming a major shareholder in Vietnamese rubber giant Hoang Anh Gia Lai (HAGL) Group. In a statement released today, Global Witness (GW), an NGO based in England, ...

Cambodia exported 332,000 tonnes of rice in the first 11 months of the year, up 94 per cent year-on-year. The country exported rice to 63 countries and territories with Poland, France, Malaysia, Thailand, the Netherlands and China as its main importers, Vietnam News Agency (VNA) reports ...