Economy and commerce

Cambodia’s trade with US reaches US$1.39-B in 1-H, + 4.5% Bi-lateral trade volume between Cambodia and the United States had jumped to US$1.39-B in 1-H of this year, a 4.5% rise compared with US$1.33-B at the same period last year, according to the statistics of the ...

Despite touting its Cambodian venture on the Frankfurt Stock Exchange (FSE), a British registered mining firm’s plan to extract gold in Ratanakkiri province stalled and the firm may face legal action over a failed deal to obtain an exploration license. Astra Resources Plc. has also gone ...

The government and the Asian Development Bank (ADB) will start drafting a new resettlement plan this month that could improve the compensation on offer for some of the roughly 200 Phnom Penh families losing their homes because of rehabilitation of the country’s railway network in ...

The Asian Development Bank (ADB), which has so far contributed $84 million toward the rehabilitation of Cambodia’s dilapidated railway network, said yesterday it would support a deal to drop the current railway  operator if it means the new concessionaire would foot the $60 to $100 million needed ...

Honey collectors from four provinces in Cambodia signed an agreement with the Cambodian Center for Study and Development in Agriculture (CEDAC) in order to bring more honey to the capital. CEDAC has encouraged farmers from four provinces – Preah Vihear, Kratie, Koh Kong and Mondulkiri – ...

Forestry Administration officers said yesterday they were still struggling to remove a large cache of illegally harvested wood they seized along the Stung Chinit River in Kampong Thom province a week ago. Heng Kamich, head of the Forestry Administration in Santuk district, said the officers seized ...

In an effort to improve Kratie town’s aesthetics, authorities have ordered about 300 shop owners on central roads and along the river bank to relocate their operations or face physical removal. Vendors were given until today to move to a location about a kilometre away, but ...

Companies and individuals need to do more than just create technology. They need to optimise the services and goods they provide, especially when introducing new concepts to developing markets such as Cambodia. That was the message from one presenter at last weekend’s T3CON12-ASIA conference in Phnom ...

Twenty-three workers at the M&V garment factory fainted yesterday morning in Kompong Chhang province, the second thime in a week that a mass faining has occured at the factory, a Labor Ministry official said. Meng Hong, a member of a workplace safety committee that the Ministry ...

The border trade between Thailand and Cambodia from January to April this year is worth over 26 billion baht, which is an increase of 25.5 percent year-on-year. According to Mr. Sittiporn Bangkaew, Director of the Surin Provincial Office of Commercial Affairs, Surin province shares ...

The SET-listed Bangkok Insurance (BKI) is stepping up its local branch expansion and plans to sell its products in Laos and Cambodia. The move prepares it for the region’s economic integration in 2015. President Panus Thiravanitkul said BKI will open one branch each in Prachuap Khiri Khan,Trang ...

INTERNATIONAL Finance Corporation, the private-sector arm of the Washington-based World Bank, has invested $US805 million ($770m) in Australian projects around the world These projects are in 24 countries and in sectors ranging from financial services to infrastructure. IFC is an investor in three Macquarie Group-sponsored infrastructure ...

With renovation work on the country’s dilapidated railway at a standstill, the Ministry of Public Works has entered into talks with a regional consortium backed by one of the largest firms in China to replace the railway’s current operator, officials said yesterday. Faced with a ...

The Minister of Social Affairs has sent a letter to the management of the Tai Yang and Camwell garment factories, suppliers to Levi’s and Gap, requesting it reinstate 37 workers involved in a strike that has dragged on for almost two months. “In order to ensure ...

Rice exports this year had been flat compared to last year because of the many challenges growers were facing, insiders said this week. The data shows exports were no better than last year for the same period, as exports for the first eight months of ...

Cambodia’s government yesterday announced it had chosen the largest local bank, Acleda Bank Plc, to be its partner for vehicle tax stamp sales. Acleda will operate for the General Department of Taxation of the Ministry of Economy and Finance in all 23 provinces and Phnom Penh.   Sim Eang, royal ...

A company with ties to one of China’s top state-owned firms will look to push Toll Royal Railways and its local partner Royal Group of Companies out of a 30-year railroad concession with pledge to invest nearly US$850 million to revamp existing lines and build an additional ...

The number of mobile subscribers (SIM cards sold) increased 25.28 per cent during the first half of the year as a result of an expansion in the telecommunications market, according to officials. Mobile phone service subscribers increased by 3,963,734 or 25.28 per cent to 19,642,563 compared ...

Petrol prices have jumped by 150 riel (US$0.03) a litre, much to the dismay of Cambodia’s poor, as NGOs appealed to the government to take action. Rong Chhun, president of the Cambodian Confederation of Unions (CCU), issued a letter dated August 16 appealing to Prime Minister Hun ...

Government officials met with more than 200 Phnom Penh families on Friday to lay out the state’s case for ownership of their land and the compensation they can expect when they are evicted from their homes situated along the city’s railway tracks. The $142 million project ...

The United States Trade Representative Ron Kirk, President Obama’s Chief Trade Advisor, will be visiting Cambodia’s Siem Reap province on Aug. 30-31 to participate in the 44th ASEAN Economic Ministers’ meetings and the ASEAN-U.S. Business Summit, according to a press release from the U.S. Embassy ...

Renaissance Minerals announced Friday it has discovered a high-grade gold deposit in an area in Mondolkiri province that lies within the Australian firm’s Cambodian Gold Project. The new find is located about 500 meters to the northeast of the company’s Okvau exploration zone. The announcement comes ...

The Bank for Investment and Development of Cambodia (BIDC), a subsidiary of the Bank for Investment and Development of Viet Nam (BIDV), has been named as one of the five biggest banks in Cambodia after three years of operation BIDC general director Nguyen Van Hien said ...

A Chinese academic with close ties to China’s state security apparatus has claimed that Beijing coordinated with the Cambodian government to influence the outcome of the Asean meeting in Phnom Penh, according to the Financial Times. In an interview with the Financial Times on Wednesday, Chen ...