Economy and commerce

Lawyers for the three women injured in a Feb. 20 shooting at a Special Economic Zone (SEZ) in Svay Rieng province were prevented from visiting the site of the shooting, allegedly on orders from the Council for the Development of Cambodia (CDC), a lawyer and ...

Cambodian-owned TTY corporation will invest US$6 million in a rice milling plant in Kampong Speu province, company officials said yesterday. Heng Sarath, TTY deputy director, said the factory would be built on national road 6, and would mill 20 tonnes of rice per year. Construction is ...

Thailand is moving forward to strike a double tax treaty with Cambodia, to cope with increasing cross-border trade. Sathit Rungkasiri, director general of the Revenue Department, said it is a priority to expand the double tax treaty with all countries in Asean to prepare for the ...

The Svay Rieng Provincial Court has issued summonses to question three women who were allegedly shot by a government official during a protest at a special economic zone (SEZ) in February, a court official and the plaintiffs said yesterday. About 20 eyewitnesses have already been questioned ...

Transparency and consultation with civil society will give the ASEAN Human Rights Declaration the status and respect it needs to make a difference in the region, UN High Commissioner for Human Rights Navi Pillay said on Friday. The AHRD will be presented to foreign ministers in ...

Prime Minister Hun Sen yesterday urged Cambodian food and beverage companies to look to export markets. The call, made at the opening ceremony of the Khmer Brewery, came in the wake of similar exhortations from international organisations for Cambodia to diversify its exports. “Now, we are not ...

Companies that have seized land, confiscated livestock and destroyed homes and property have gone unpunished, the UN special rapporteur for Cambodia has said. Surya Subedi, professor of international law at Leeds University, said all the communities he had met raised the issue of misconduct by ...

Cambodian Prime Minister Hun Sen on Monday inaugurated a 60 million U.S. dollar Khmer Brewery plant on the outskirts of Phnom Penh’s Dangkor district, urging the country’s beer manufacturers to produce for exports. ...

Thaicom Public Company Ltd., which owns a majority stake in local phone operator Mfone, announced on Friday that they have devalued the company by about $1.31 million as profits in the first quarter dropped by half. “In an effort to reflect the fair value of its ...

One of Cambodia’s true rags-to-riches success stories is that of Din Somethearith, co-founder and executive director of Frangipani Villa Hotels. Frangipani, named for the blossoming tree, is a chain of boutique hotels, one of which is located just off Street 178 at number 43, down a ...

Prime Minister Hun Sen lauded the capability of local Cambodian investors who can build factories by their own efforts on May 14 during the inauguration ceremony of the US$-60 million Cambodia Beer Factory, which is totally owned by Cambodians. ...

Cambodia needs to improve the skills of its workforce if it is to compete and benefit from Asean’s plan for greater integration and the free flow of skilled labor within the region by 2015, Minister of Labor Vong Sauth said on Friday at the Asean ...

The Philippines may decide to choose Cambodia to supply some of the rice it needs to boost its buffer stocks, Agriculture Secretary Proceso Alcala said on Friday. Alcala said the government still has to buy 120,000 metric tons of rice to fill the 500,000 metric tons ...

Prime Minister Hun Sen yesterday repeated a call for Asean countries to put a stop to the exploitation of migrant workers and urged the acceleration of efforts to provide protection for such workers. At the Asean Summit last month, Mr. Hun Sen said that protecting the ...

Surya Subedi, the UN’s human rights envoy to Cambodia, expressed concern Friday over land concessions provided to private companies that are forcing people from their land in the provinces. “the royal government has the primary responsibility for respecting, protecting and fulfilling the rights of its ...

Frontier and emerging economies such as Cambodia present companies with a specific set of challenges and risk, both real and perceived, beyond those found in more developed markets. A risk category getting ever- increasing attention is that of “social risk”, roughly defined as the risk of ...

Cambodia’s first-quarter exports to South Korea soared nearly 80 per cent year-on-year, driven mostly by garments and agriculture products, but imports still accounted for most of the trade between the two countries. Total exports to South Korea jumped to US$30 million for the first three months of ...

For the first time in weeks, Phnom Penh Water Supply Authority yesterday closed up 4.35 per cent, a sign the stock was stablising after a rough opening, insiders said. After an eight-day price decline, PPWSA – the sole listed company on the Cambodia Securities Exchange – ...

Sihanoukville Autonomous Port, one of two state-owned companies slated to list on the Cambodia Securities Exchange this year, yesterday called the price decline in the country’s first publicly traded company worrisome. The eight-day slide in price that neared Phnom Penh Water Supply Authority’s initial public offering ...

Total loans and deposits at the Kingdom’s microfinance institutions jumped in the first quarter of 2012 despite what is typically a slow season for the industry, insiders said yesterday. Loans outstanding reached US$708 million for the period ending on March 31, climbing 9.8 per cent from ...

The Cambodia representative for the world’s largest shipping company said exports from Cambodia to Europe grew by more than 60 per cent during 2011, but have since weakened. “Rice exports grew a lot during 2011 and a lot of it went to Poland and France,” ...

The Australian government has pledged $3.02 million toward three provincial information departments, which it said would help “increase citizens’ ability to voice their opinions.” ...

Cambodia’s government, facing growing protests by villagers and warnings about disappearing wilderness, suspended the granting of land to domestic and foreign companies on Monday in a move to curb forced evictions and illegal logging. Rights groups in the impoverished but resource-rich Southeast Asian country said the ...

The ASEAN Infrastructure Fund, the largest pooling of financial resources among Southeast Asia’s 10-member bloc, held its first board meeting in Manila last week, but the extent to which Cambodia will borrow from the non-concessional fund has yet to be determined, experts said. ASEAN countries and ...