Economy and commerce

The Cambodian Investment Board approved nearly $850 million worth of investment projects between the start of the year and the end of July, data from the Council for the Development of Cambodia (CDC) shows. According to the data, 90 projects worth $845.26 million were approved during the first ...

Cambodia is expected to achieve the Millennium Development Goal (MDG) in poverty reduction two years earlier than the UN-imposed target, Prime Minister Hun Sen said Friday. According to the UN MDG, Cambodia is set the target to reduce poverty rate to 19.4 percent by 2015, meaning ...

Charoen Pokphand Group is leaning towards investing more in Indochinese countries in light of their growing economies and regional trade liberalisation through the Asean Economic Community in 2015. Cambodia, Laos, Myanmar and Vietnam have a wealth of natural resources that could support the group’s products from ...

Container traffic through the Phnom Penh Autonomous Port increased by 7.5 percent in the first eight months of this year compared to the sme period last year, according to port figures. In the January through August period, the port received 57,000 twenty-foot-equivalent units, or TEUs, up ...

Gun violence and fatal traffic accidents are hurting the government’s efforts to boost tourism, Prime Minister Hun Sen said yesterday, urging local authorities to take action-even against the powerful. Mr. Hun Sen also said the government has earmarked sites for two new international airports to cater to ...

With a court date hanging over his head for his involvement in the Tai Yang factories strike in Kandal province, Cambodian Confederation of Unions president Rong Chhun yesterday intervened in another garment dispute, this time in Kampong Speu province. About 1,000 workers entered day five of ...

Prime Minister Hun Sen announced yesterday that Cambodia is going to build a new international airport in Phnom Penh, in response to the rising number of passengers received every year. The Kingdom is expected to get seven million tourists a year by 2020. The initial concept ...

The Ministry of Post and Telecommunications officially launched the Telecommunication Regulator of Cambodia (TRC) yesterday in an attempt to establish laws to control, and resolve conflicts among, telecoms operators. Post and Telecommunications Minister So Khun said the TRC’s establishment supported other regulations for managing  conflicts among mobile ...

French construction and concessions group Vinci expects to see considerably more opportunities to acquire airport concessions in the next two years, its chief executive said on Thursday Vinci’s concessions unit, the operator of nine regional airports in France and Cambodia’s three main airports, is keen on ...

Minister of Commerce Cham Prasidh and 100 Cambodian companies are set to represent the Kingdom at the 9th China-ASEAN Expo in Nanning, China, which starts tomorrow, according to officials. The expo will include representatives from all 10 ASEAN countries and China itself. Cambodian officials will seek ...

The foreign commercial arbitration case between South Korean Kookmin Bank and World City Asset Management and World City, two real-estate development firms, has been received by the Cambodian Court of Appeals. World City Asset Management received a loan from Kookmin bank in Korea in 2007 to ...

Toll Royal Railway signed an agreement yesterday afternoon with companies that will supply locomotives and parts for Cambodia’s railway network. As a result of the agreement, international tenders will be called in the coming months for the procurement of up to four new 2,000-horsepower locomotives and ...

More than 3,100 families have now been evacuated from their homes as flooding spreads in Banteay Meanchey province, the deputy head of the National Committee for Disaster Managment (NCDM) said yesterday. About 3,000 of those families have been evacuated from Poipet City alone, and another 148 ...

The Asian Development Bank (ADB) is pushing forward with the US$67 million flood reconstruction project aimed at rebuilding roads,bridges and irrigation systems hit by the devastating high waters of 2011, improving the nation’s infrastructure and providing livelihoods to people in six severely affected provinces, according ...

Four Vietnamese nationals were arrested off the coast of Preah Sihanouk province Tuesday for allegedly smuggling illegally cut wood from the neighboring province of Koh Kong, officials said yesterday. Sak Sovann, crime unit chief for the Interior Ministry’s maritime border police department, said the four men ...

While the planned launch of the ASEAN Economic Community is fast approaching, establishing good connectivity between member states to ensure a free flow of goods and services is a real challenge and needs more involvement from the private sector. That was the message delivered by Cambodian Foreign ...

The Prey Long People’s Network yesterday said it found 121 cubic meters of cut wood and seven chainsaws belonging to illegal loggers after a coordinated patrol across four provinces that was prematurely aborted due to heavy rains. In a statement, the community group said it discovered ...

Thailand’s border trade at Chanthaburi has dropped by half due to the heavy rain in many eastern provinces, while erratic changes of weather in the southern provinces has caused the increased price of seafood. Thai-Cambodian Business and Tourism Association vice chairman Sombat Juengtrakul said that ...

Dutch brewer Heineken NV took a major step towards winning control of the Tiger beer brand and an Asian brewing network on Wednesday after a Thai rival accepted the deal When F&N’s board accepted Heineken’s improved offer of S$53 per APB share, the deal included a ...

FRANCE 24 has concluded a new distribution agreement in Cambodia and launched on ONE TV’s Digital Terrestrial Television (DTT) offer. FRANCE 24, French version, is now available 24/7 on channel 19 of the ONE TV basic offer, for 3 dollars per month (2,29 Euros). FRANCE 24 is ...

A new marketing strategy has reached Phnom Penh’s streets, enabling companies to introduce their products on a moving TV screen. New Color Communications, a company started by Kim Seong Bomb, instals TV screens on the back of tuk-tuks that show a series of one-minute advertisement clips. ...

A local journalist and a forestry officer who were arrested by military police forces in Kratie province last week for beating a man and firing a gun into the air were released on Monday as part of a compromise between the victim and his attackers. Srey ...

An ongoing project to build hotels, luxury villas and a casino on Kampot province’s Bokor Mountain is a threat to the area’s unique animal and plant species, according to two new studies. Local conglomerate Sokimex Group has been granted property development rights on the entire mountain, ...

Investment in the Cambodian construction sector reached US$1.38 billion in the first seven months of 2012, an 85-percent rise over the same period last year, according to figures from the Ministry of Land Management, Urban Planning and Construction. During the January to July period this year, the ministry ...