Economy and commerce

The sale and purchase of land along National Road 3 is increasing in volume but land prices are not increasing significantly despite the road being completed, and despite the many industrial zones along it.  Based on his company’s research in the second quarter of this year, ...

The Taipei-based Far Eastern Air Transport Corp. (FAT) will resume its direct flights from Taiwan to Angkor Wat in Cambodia starting Dec. 25 Soon after the FAT reopened its flight operations on April 18, 2011 following several years of suspension caused by financial troubles, the Tonlesap ...

Delegates from eight French-owned companies in the water management sector will meet with government officials and officials from the Phnom Penh Water Supply Authority today to explore business opportunities in Cambodia, according to a French Embassy statement yesterday. As a part of a two-day visit, ...

The total amount of claims paid out by local insurance firms during the first nine months of the year have tripled to more than $11 million compared to the same period in 2011 According to data from General Insurance Association of Cambodia (GIAC), paid claims grew ...

Prime Minister Hun Sen said on Monday that the Kingdom’s economic growth is forecast to grow at 7 per cent this year, according to news agency reports. “We still maintain our forecast of  7 per cent growth and the latest forecast showed that the inflation rate ...

Prime Minister Hun Sen has called for the removal of all tariff and non-tariff barriers when the ASEAN Economic Community (AEC) integrates in 2015, saying it is of central importance. Speaking at the opening of an ASEAN symposium in Phnom Penh on Tuesday, the premier said integration of ...

Growing calls in Sweden for multinational clothing giant H&M to increase wages for Cambodian garment workers have taken a royal twist. Cambodia’s Prince Charin Norodom, 38, who has lived in Sweden for more than 30 years, told the Post yesterday that he had been working behind ...

About 80 ethnic Bunong villagers living in Mondolkiri’s Pech Chreada district staged a protest against the Socfin-KCD rubber company Monday, demanding that the firm honor its long-standing pledge to return 1,000 hectares of farmland located inside its concession. Socfin-KCD, a join venture between Socfin, a ...

During a visit to Phnom Penh this week, Greg So, Hong Kong’s Secretary for Commerce and Economic Development, reiterated Hong Kong’s desire to be inducted into the ASEAN-China Free Trade Agreement and highlighted Cambodia as a potential beneficiary for foreign direct investment from Hong Kong. In So’s view, economic ...

Families in Koh Kong province will today file a complaint with the U.S. government against American Sugar Refining (ASR) over farmland they claim they were violently evicted from to make way for two sugar plantations that supply the New York-based company. The 207 Koh Kong ...

The chief economist at the Economic Research Institute for ASEAN and East Asia says Cambodia needs to attract greater numbers of multinational companies and treat them well, in order to establish production networks that will transfer technology to smaller Cambodian businesses. In an interview with the ...

Russian giant pulling back to core markets to achieve more rational structure and raise funds for investment Russia’s VimpelCom is considering selling many of its subsidiaries in Africa and Asia to focus on more “mature” markets, according to reports. The Financial Times newspaper says that the operator ...

Cambodian vegetable farmers say they are being forced to compete with more efficient farmers in Vietnam who use farming techniques to make their vegetables grow faster. Farmers in Sambork Meas, a village on the Mekong River in Mokkompul commune in Bakkeng district in Kandal province, say ...

Prime Minister Hun Sen called on Tuesday for the complete removal of tariff and non-tariff barriers when the ASEAN Economic Community is set up in 2015 Hun Sen also called for enhanced trade facilitation, further services liberalization and a regional framework for liberalizing and facilitating cross-border ...

PTT has set aside up to Bt6 billion to carpet key Asean markets with more than 240 retail petrol stations over the next five years. President and chief executive officer Pailin Chuchottaworn said the company had earmarked spending of between Bt5 billion and Bt6 billion through ...

GL Finance (GLF), the first and only financial leasing company in Cambodia, opened its 11th branch in Phnom Penh on Friday, covering all authorized Honda and NCX  dealerships in Phnom Penh and its vicinity. GLF, in partnership with Honda NCX, helps customers buy their own motorbikes and provides ...

The largest bank in Cambodia, Acleda Bank Plc, has extended its mobile banking and payments service to consumers without an existing banking relationship of any kind, according to a press release by global technology provider Fiserv. Established in 2010, Acleda Unity now reaches untapped consumer segments using ...

Improvements to Cambodia’s banking and finance sector are expected to come about as a result of the 2013 national budget, a Council of Ministers spokesman said. “We will dedicate resources to ensuring macro-economic stability,” spokesman for the Council of Ministers, Phay Siphan said. These measures, in conjunction ...

High demand for beef, particularly during the Islamic Qurban festival which ended yesterday, caused beef prices to almost double compared with the same period last year, according to Islamic leaders and officials. Him Khortieth, IKatan  Mahabbah Muslimin’s (IMAN) representative in Cambodia, said the association planned to ...

A lawyer for Norwegian-owned power and electronics equipment firm Eltek Valere yesterday called on investors not to buy stakes in the Thai-owned mobile phone operator Mfone, and to await court’s ruling. The lawyer’s appeal came after the Phnom Penh Municipal Court issued a warrant for keeping ...

Cambodia has received a US$1 million grant in order to develop its milled rice industry and strengthen the country’s exporting capacity, according to the Cambodian Ministry of Commerce. It is part of a larger, US$3-4 million grant from the Enhanced Integrated Framework (EIF), a partnership ...

A leading global provider of financial services technology solutions, today announced that ACLEDA Bank Plc. (ACLEDA), the largest bank in Cambodia, has extended its ACLEDA Unity mobile banking and payments service to new, untapped consumer segments using Mobiliti Reach™ from Fiserv. The bank, which has ...

Even as its controversial Xayaburi Dam project is still drawing protest from Mekong river downstream countries such as Cambodia, Laos has inked a deal with South Korean firms to build and operate another large hydropower plant on the Mekong River network. According to the Phnom Penh ...

Thailand’s GL Finance Plc. launched its business in Cambodia on Friday by opening eight branches in Phnom Penh and Kandal province that will operate hire purchase operations out of Honda motorcycle dealership. Speaking during the opening ceremony for its branch in Phnom Penh’s Prampi Makara district, ...