Economy and commerce

Gaming firm to expand Poipet operations

American Stock Exchange-listed Entertainment Gaming Asia Inc has announced it will build and operate a slot hall as an addition to an existing casino in Poipet city on Cambodia’s border with Thailand, according to a company statement. ...

http://www.phnompenhpost.com/index.php/2012040455409/Business/gaming-firm-to-expand-poipet-operations.html

Borei Keila evictees ‘will die’ without aid

Borei Keila evictees sleeping under stairs at the site where their houses were bulldozed in January would die unless more aid organisations provided them with food, an NGO representative said yesterday. Amnesty International paid for the Housing Rights Task Force (HRTF) to deliver more than 1,200 ...

http://www.phnompenhpost.com/index.php/2012040455418/National-news/borei-keila-evictees-will-die-without-aid.html

Asean Leaders Say Sanctions on Burma Should Be Lifted—Now

Asean leaders urged the lifting of economic sanctions against Burma, while the Burmese president made his first public statement on the nation’s recent by-elections, calling them “very successful” at the Asean Summit in Phnom Penh yesterday. “Asean has consistently spoken of lifting sanctions, but now, more ...

Cambodia Bets Casinos Can Boost Tourism

Cambodian developers are betting that casinos can make the tiny Southeast Asian country a bigger draw for high-spending tourists. The nation of 15 million people has more than 25 casinos, but most are small affairs in rough-and-tumble border towns that cater to hard-core Thai, Chinese and ...

http://online.wsj.com/article/SB10001424052702304750404577317094266574870.html

China stalls Cambodia’s first rice exports at border

Cambodia had made its first direct shipment of rice to China, an official revealed yesterday, but the test run, which was hoped to open the vast Chinese rice market to local exporters, was largely unsuccessful. Golden Rice Co Ltd shipped 48 tonnes of milled rice to ...

http://www.phnompenhpost.com/index.php/2012040355388/Business/china-stalls-cambodias-first-rice-exports-at-border.html

Hun Sen says ASEAN instrument for workers a priority for 2012

Prime Minister Hun Sen said Tuesday that establishing a regional instrument to protect migrant workers in Southeast Asia should be a priority for ASEAN this year. “The free flow of skilled workers is a key condition for the ASEAN Economic Community,” he said in an opening ...

http://www.thecambodiaherald.com/cambodia/detail/1?page=11&token=NGFlOWQwZDBjZjUzMDc5ZjE3MTdlMTY4MzA1Yzhm

Civil Society Group Issues List of Grievances to Asean Leaders

Representing more than 1,200 delegates from the 10 Asean countries, the Asean Peoples’ Forum issued a highly critical statement yesterday to visiting Asean leaders concerning issues such as land evictions, effects of large-scale hydropower projects and the opaque nature of drafting the Asean Human Rights ...

Cambodia gives region ‘export’ advice

Cambodia’s garment sector yesterday looked more like a teacher to regional economies such as Myanmar than a student of China and other export juggernauts. With more than 500 garment and shoe factories – adding a new one every 10 days, according to the Garment Manufacturers Association ...

http://www.phnompenhpost.com/index.php/2012040355384/Business/cambodia-gives-region-export-advice.html

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 ...

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