Economy and commerce

Cambodia to aid ASEAN’s small states

Cambodia’s Minister of Economy and Finance Cham Prasidh yesterday said the Kingdom would push forward with efforts to eliminate development gaps among ASEAN member states during its chairmanship this year. ...

http://www.phnompenhpost.com/index.php/2012040355383/Business/cambodia-to-aid-aseans-small-states.html

Close ASEAN cooperation urged to promote growth

Cambodia, the current ASEAN chair, has called for stronger financial cooperation among its member countries to promote economic growth. The main agenda is to ensure that Southeast Asia is on track to meet an ambitious goal of transforming in three years into a European Union-like ...

http://www.newstrackindia.com/newsdetails/2012/04/03/335--Close-ASEAN-cooperation-urged-to-promote-growth-.html

Union Wants Early Pay for Workers Ahead of New Year

The Cambodian Alliance of Trade Unions (CATU) sent a letter to the Ministry of Labor yesterday requesting that all of the country’s factory owners pay workers their salary earlier than usual ahead of Khmer New Year. Workers are normally paid on the fifth to the ...

Phok Dorn, P. 20
https://www.cambodiadaily.com/archives/union-wants-early-pay-for-workers-ahead-of-new-year-66809/

EU Eyes Asean as Solution for Troubles at Home

As Europe continues to navigate its way through a two-year debt crisis, EU Trade Commissioner Karel De Gucht yesterday sought to put Europe at the center of Southeast Asia’s future at the EU-Asean Business Summit in Phnom Penh, and urged EU investors to take advantage ...

Cambodia-Vietnam JV targets rice exports

CAVFOOD, a joint venture between Cambodian and Vietnamese companies, launched the first phase of its US$8 million rice mill in Phnom Penh on Friday. The venture is an investment by Cambodian state-owned rice exporter Green Trade and Vietnam’s VNA Food 2 and Bank for Investment and ...

http://www.phnompenhpost.com/index.php/2012040255363/Business/cambodia-vietnam-jv-targets-rice-exports.html

Asean NGO Coalition Claims Members’ Rights Violated

Members of the Asean People’s Forum, a coalition of NGOs that convened in Phnom Penh last week, declared yesterday that their rights had been violated after four workshops on sensitive issues were canceled by the venue where they met. In a statement representing more than 1,200 ...

ASEAN infrastructure fund on track for May

The region’s finance ministers on Friday set a May launch date for the ASEAN Infrastructure Fund (AIF), a financing project expected to lend as much as US$4 billion to member countries through 2020. Speaking at the opening the ministers’ meeting, Prime Minister Hun Sen called ...

http://www.phnompenhpost.com/index.php/2012040255364/Business/asean-infrastructure-fund-on-track-for-may.html

Templeton Cautions Investors Riding Myanmar, Cambodia Growth

Investors should be cautious when pursuing the opportunities for growth present in Myanmar and Cambodia, Southeast Asia’s frontier markets, Templeton Asset Management Ltd. said. In Cambodia, state-owned Phnom Penh Water Supply Authority will have its initial public offering this month, making it the first to ...

http://www.businessweek.com/news/2012-03-31/templeton-cautions-investors-riding-myanmar-cambodia-growth

Hun Sen Urges Action to Double Region's Bailout Fund

Prime Minister Hun Sen on Friday urged the economic leaders of the Asean bloc to go through with a plan to double a bailout pool, funded largely by China, Japan and South Korea, to prevent future financial crises in the region. Opening the Asean Finance ...

Chinese Embassy Petitioners Sent Packing

Just hours before Chinese President Hu Jintao landed in Phnom Penh on Friday, a group of dismayed Koh Kong province villagers whose land is under threat from a sprawling Chinese tourism project were escorted onto a bus and sent back home before they were able ...

Hotel Shuts Down Asean NGO Panels

Four workshops at the Asean Peoples’ Forum concerning pressing issues such as land rights and events in Burma were blocked by the owner of the venue where the forum was being held on Friday, as they were considered too politically sensitive, the organizer said. Out of ...

Hu, Cambodian PM agree to advance ties

Chinese President Hu Jintao and Cambodian Prime Minister Hun Sen agreed here Saturday to advance the comprehensive relations of strategic cooperation and partnership between their two countries. In a meeting, the two leaders pledged to expand mutually beneficial cooperation in all fields and to double the ...

http://www.chinadaily.com.cn/china/2012HuAsiaTour/2012-03/31/content_14962294.htm

Net Profits at Acleda Bank Increased by 86% in 2011

Net profits at Acleda Bank increased by 86% to $49.4 million in 2011 as the company grew both its deposits and loan portfolio. In a statement released on Friday, Acleda said that loans grew by 35.4 percent to $989.4 million, while deposits at the bank ...

Hu wants Cambodia help on China Sea dispute, pledges aid

Chinese President Hu Jintao asked close economically Cambodia on Saturday not to push talks on the vexed issue of the South China Sea “too fast” as he pledged to double bilateral trade to $5 billion and announced fresh aid to the impoverished country. Cambodia holds the ...

http://www.reuters.com/article/2012/03/31/us-cambodia-china-idUSBRE82U04Y20120331

Two SEZ Shooting Victims Questioned Yesterday

The Svay Rieng Provincial Court yesterday questioned two of the three female garment factory workers who were shot during a protest at a special economic zone (SEZ) in Bavet City in February, the provincial prosecutor said yesterday. Keo Nea, 18; Bun Chenda, 21; and Nuth Sokhorn, ...

Kingdom, Indonesia said close to rice deal

Cambodia is close to a deal that would ship as much as 20,000 tonnes of milled rice to Indonesia, according to sources familiar with the matter. Thon Virak, director of state-owned rice exporter Green Trade and chairman of Federation of Milled Rice Exporters Association, said Green ...

http://www.phnompenhpost.com/index.php/2012033055327/Business/kingdom-indonesia-said-close-to-rice-deal.html

In One City, a Tale of Two Asean Forums

Government officials did not, and Lao students could not, attend yesterday’s Asean Peoples’ Forum in Phnom Penh, where more than 1,500 members of civil society groups discussed the region’s most pressing issues, including human rights, poverty, land usurping and domestic violence. The three-day forum, which is not ...

Villagers in Land Dispute Ask Hu Jintao’s Help

In an effort to stop their homes from being swallowed up by a Chinese mega-tourism project, Koh Kong villagers said they will submit a petition to the Chinese Embassy today, calling for intervention from visiting Chinese President Hu Jintao. Villager representative Tith Ten, 54, from Kiri ...

Court Rejects Joint Complaint Against Minister’s Wife, Again

The Kompong Chhnang Provincial Court yesterday once again declined to receive a joint complaint from villagers in Kompong Tralach district embroiled in a land dispute with the wife of Industry Minister Suy Sem. Chhuon Siven, provincial clerk director, said that the court could not take the ...

Cambodia, Vietnam to fight financial crimes

The National Bank of Cambodia this week signed a Memorandum of Under-standing with the State Bank of Vietnam that would allow for the exchange of information to fight money laundering and terrorism financing. The MoU, signed by NBC Governor Chea Chanto and SBV Governor Nguyen Van ...

http://www.phnompenhpost.com/index.php/2012033055326/Business/cambodia-vietnam-to-fight-financial-crimes.html

Myanmar’s economic promise no threat to investment here: experts

Myanmar’s moves toward economic and political reform would not subtract from Cambodia’s regular stream of foreign investment, experts and insiders said – at least not in the short run. Word of an investor-friendly Myanmar has spread quickly with the US’s partial waiver on trade sanctions in ...

http://www.phnompenhpost.com/index.php/2012033055328/Business/myanmars-economic-promise-no-threat-to-investment-here-experts.html

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