Economy and commerce

The Advanced Bank of Asia (ABA) is expanding its Siem Reap operations to take advantage of the growing tourism sector. The bank is moving out of its 160-square-metre Sivutha Street office into a 1,080-square-metre, three-level office across the road, and it is now one of the ...

Cambodia has recorded a growth rate of 10 percent since the last 10 years, and the time is right for the Indian small and medium enterprises (SMEs) to look at Cambodia as its key partner for accessing the ASEAN marke [sic], Ambassador of India in ...

Prime Minister Hun Sen said Monday that the gradual increase in Japanese investment in Cambodia reflected a maturing of the domestic economy. His remarks came at a groundbreaking ceremony for a shopping mall being built by top Japanese retailer Aeon Co Ltd. The $200 million mall ...

The Cambodia-Laos-Vienam (CLV) Development Triangle Area has achieved an average economic growth of 10 percent in 2011 and 2012 period, meeting the target set for the period. The CLV Development Triangle Area comprises four provinces in Cambodia , four in Laos and five in Vietnam. Delegates from ...

Cambodia on Friday inaugurated a food industry laboratory with Chinese aid, aiming at assisting food quality improvement, research and technology development, officials said. The China-Cambodia Food Industry Laboratory is situated in the complex of the Industrial Laboratory Center of Cambodia in Phnom Penh’s Russey Keo district. ...

More than 200 workers at Poipet City’s Casino Tropicana went on strike over the weekend, calling for management to improve working conditions and rehire two Free Trade Union (FTU) members who were fired earlier this year. Workers said that Sat Sep, formerly the representative of the ...

The Kep-Kamport Salt Producers Community expressed concern about the production of salt this year not reaching its forecast due to the late-starting season and the lack of labour to work in the fields. Um Chhun, director of the administration office in Kep-Kamport Salt Producers Community, said ...

Despite attention from Foreign Direct Investment (FDI) and official development assistance, farmers are by far the largest source of investment in agriculture, the State of Food and Agriculture 2012 report by the Food and Agriculture Organization published last week said. Farmers in low and middle income ...

Eight people, four of them children, were killed when fire ripped through Siem Reap City’s popular night market in the early hours of Saturday morning, officials and witnesses said. The fire, which stared at about 2 a.m., left the market completely gutted and damage estimated at ...

Malaysia is optimistic Asean is ready to be integrated into a single economic block by December 2015 despite uncertainties over growth in the euro zone and the US. International Trade and Industry Minister Mustapa Mohamed said the 10 member countries would be able to cushion the ...

Businesses in Trat province have been told by officials to shape up and prepare for massive new opportunities when Cambodia opens the Koh Kong Industrial Estate later this month. The industrial estate, close to the Trat border, will be inaugurated by Cambodian prime minister Hun Sen ...

Cambodian Commerce Minister Cham Prasidh sees great potential for US companies that want to invest in agriculture, where he says they can do legitimate business relatively free from the graft as Cambodia makes anti-corruption headway. Cham Prasidh was in Washington last week, where he and other ...

The government collected more than $1.4 billion in revenues during the first nine months of the year, a 27 percent increase over the same period last year, figures released Thursday by the Ministry of Economy and Finance show. According to the Table of Government Financial Operations ...

Cambodia is the one of the least competitive countries in the region, hampered by corruption, a poorly educated workforce and inefficient government, according to a recent study. The annual Global Competitive Index, conducted by the World Economic Forum, showed a large uptick in reported corruption for ...

The Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC) is expected to sign a Memorandum of Understanding with the Confederation of Indian Industries (CII) today to strengthen the co-operation on human resource training and quality control, an insider said. The Sokha, deputy director ...

Discussions on restarting World Bank loans to Cambodia will not commence until after the 2013 elections, a bank official said yesterday. After a landmark freeze on loans announced in December 2010, a response to the forced evictions by the government of residents of the Boeung Kak ...

Casinos are first and foremost for protecting Cambodia’s border, not for making money, government lawmakers insisted in parliament yesterday when drilled about their opposition to raising gambling taxes. Seizing on an off-the-cuff comment made by Prime Minister Hun Sen during a speech in August, Finance Minister ...

Electronic equipment supplier Eltek Valere Ltd. filed a complaint Wednesday with the Phnom Penh Municipal Court against mobile operator Mfone, demanding the company pay the $3.7 million it owes to Eltek from a previous GSM contract, a lawyer for Eltek said. ...

CPP Senator and business tycoon Ly Yong Phat has convinced to more families in Koh Kong province to take a cash payout in exchange for dropping out of a lawsuit involving two local sugarcane plantations he once co-owned, official said. More that 200 families in Sre ...

Lawmakers at the National Assembly yesterday debated the government’s plan for public spending next year, with the opposition challenging the government’s plans to rack up more foreign debt. Since the draft of the 2013 budget was released last month, the opposition has come forward with detailed ...

A Tokyo-based auto supplier, the Yazaki Corporation, has completed the construction of an automotive electronics and instrument plant in Cambodia and the production will be launched later this month, a company representative said Wednesday. Speaking during a meeting with Cambodian Prime Minister Hun Sen at the ...

Cambodia’s Securities Exchange (CSX) may have its first private company listing early next year with Grand Twin International, a Taiwanese-owned garment factory, submitting its letters of intention to the Securities Exchange and Commission of Cambodia (SECC). Industry representatives and government officials believe the listing will be ...

Real estate prices in Kampong Chhang province have increased by around 10 per cent over the last 12 months, according to experts. Dith Chana, general manager of VMC Real Estate Cambodia, said that Kampong Chhnang is only 91 kilometres from Phnom Penh, but the development of ...

Cambodia’s rubber price is expected to fall further in coming years while government projects aimed at doubling rubber resin production will take effect by 2015, according to the latest figures from the Rubber General Department. Mak Kimhong, president of the Cambodia Rubber Association and owner of ...