Economy and commerce

Following a considerable increase in Cambodia’s milled rice exports in the first four months of the year, Minister of Commerce Cham Prasidh said he was optimistic the Kingdom’s rice exports would reach the 2015 target of one million tonnes. With this year’s export figures notably higher ...

The National Assembly of Cambodia on Friday ratified the agreement on maritime transport between the Association of Southeast Asian Nations (ASEAN) and China, saying the agreement is essential to develop trade and economic ties between ASEAN and China. “The agreement aims to facilitate and foster ...

Since 1998, Phnom Penh’s population has doubled to more than 2 million. High-rise buildings have popped up in the city’s center and housing developments have been hastily erected. Yet the city’s antiquated, decades-old drainage system has undergone little improvement in that time and experts say the ...

About 100 people protested Wednesday evening outside a Phnom Penh ice-making factory owned by the daughter of deputy Kompong Spue governor Tong Seng, complaining that the factory causes a bad smell and that the health of residents in Russei Keo district’s Kilometer 6 commune was ...

The steady growth of franchises from overseas is likely to continue as young, moneyed Cambodians seize the opportunity to bring name brands into the country, a bank official said yesterday. Hoping to help its customers and others invest in franchises, Malaysia-based CIMB Bank yesterday organized ...

Cambodian Confederation of Unions president Rong Chhun yesterday appealed to landlords with properties close to garment factories not to take advantage of the industry’s minimum wage increase by raising rent prices. The minimum monthly salary in the garment sector – Cambodia’s biggest export industry – officially ...

The newly appointed Kompong Thom provincial governor on Tuesday promised more than 500 families who were forcefully evicted by a Vietnamese rubber plantation more than three years ago that they would be given replacement land to farm on early next month. Security forces evicted villagers from ...

Japanese Bank of Tokyo-Mitsubishi UFJ (BTMU) signed an agreement yesterday with local Canadia Bank to shore up Japanese growth in Cambodia and to demonstrate its confidence in the Kingdom’s financial sector. BTMU’s managing executive officer, Takami Onodera, and Pung Kheav Se, chairman of Canadia Bank, yesterday ...

Delta Electronics (Thailand), one of the world’s leading producers of power supplies and electronic components, plans to expand to Cambodia and Myanmar, the Bangkok Post reported on Wednesday. “There is no indication of a specific timeframe for the expansion, but the company sees these countries . ...

Cambodia Airlines plans to spend $1.5 billion to acquire up to 22 planes, a move that might see the new airline’s eventual fleet size overtake that of national carrier Cambodia Angkor Air. “We [will be] starting to deploy 16 to 22 aircraft immediately once it’s ready ...

Cambodia saw a slow rise in trade volume with Vietnam and a slight decrease with Thailand in the first quarter of this year, according to the figures provided on Wednesday. The figures said Cambodia’s total exports to Vietnam was worth 221 million U.S. dollars during ...

Mark Moorstein knew little about Cambodia before he got involved in a lawsuit on behalf of land owners there. But as it’s turning out, the suit could end up affecting most every country in Asia. Moorstein is a land-use lawyer in Northern Virginia who, like many ...

Cambodian Prime Minister Hun Sen will visit Macau in September to participate in the Second Global Tourism Economy Forum. Prime Minister Hun Sen called for more investment in the country by Chinese and Macau entrepreneurs, and direct flights between Cambodia and Macau. According to Xinhua, the ...

While significant obstacles remain, the success of the rice sector is a potentially crucial driver in Cambodia’s prosperous and equitable development. Cambodia announced two major bilateral trade agreements recently, with the Philippines and Thailand, that are expected to further expand the country’s rice export sector. ...

Australia’s Renaissance Minerals (Cambodia) Ltd. unveiled Thursday that it estimated that gold resource[s] at O’kvau area in Cambodia’s Mondolkiri province could be as much as 1.2 million ounces, the firm’s Managing Director Justin Tremain said. Speaking during a meeting with Cambodian Minister of Industry, Mines and ...

Bilateral trade between Cambodia and neighbouring Vietnam rose more than 10 per cent year-on-year in the first quarter of this year, data from the Vietnam Embassy in Phnom Penh showed. Officials said cross-border trade facilitation by both countries significantly contributed to the growth. But they said ...

The newly appointed Kompong Thom provincial governor on Tuesday promised more than 500 families who were forcefully evicted by a Vietnamese rubber plantation more than three years ago that they would be given replacement land to farm on early next month. Security forces evicted villagers from ...

Local charter carrier Tonle Sap Airlines has suspended flights until June, in what appears to be the latest of a series of disruptions affecting the airline, which has also recently encountered financial turbulence. The airline, which operates chartered flights from Siem Reap to China, Taipei, and ...

The National Assembly yesterday passed a law to amend three articles in the anti-money laundering and terrorism financing law by a vote of 83 to six. Speaking at the start of session, Chea Chanto, governor of the National Bank of Cambodia, said the amendments would give ...

About 5,000 workers went on strike at the M&V garment factory in Kampong Chhnang province yesterday, adding to the list of incidents at the factory in the past two years that has also included mass faintings. Elsewhere, about 700 workers from the Pine Great (Cambodia) ...

Major financial institutions show more trust in providing loans to the agricultural sector, evidenced by increasing agricultural loan disbursement, thanks to potential growth in the sector and better preparation of financial report among borrowers, according to industry insiders. Acleda Bank, Cambodia’s largest domestically owned bank, has ...

India’s ambassador to Cambodia, Dinesh Patnaik, said yesterday that his government will pay outstanding benefits to about 30 restoration workers who lost their jobs at Siem Reap province’s Ta Prohm temple in February – but will not reinstate them. The entire restoration team – more than ...

A major Hong Kong investor in Cambodia has claimed that a government duty on seafood exports is stunting the country’s fish proc­essing industry. Hong Kong-based Sunwah Group began operating a shrimp-processing factory in Sihanoukville in 1994, and its plans in the country now include building a ...

Serge Mostura, French Ambassador to Cambodia, said he wanted to boost economic diplomacy between Cambodia and France. Citizens of France visits Cambodia only as tourists or for study, but none have placed investments in the country, so he vows to attract small and medium sized ...