Economy and commerce

Gov't Bodies Ordered to Publish Prices for All State Services

The government has ordered all state institutions to start compiling a list of prices for all fee-based services so that individuals and companies can avoid informal payments, which were made illegal under the penal code last year, spokesman for the Council of Ministers Phay Siphan ...

Counterfeit medicine campaign under way

The Ministry of Health, with support from the United States, yesterday launched a national public outreach campaign to raise awareness about the dangers of counterfeit and substandard drugs, which officials said posed a “serious threat” to public health. The campaign features a poster with the slogan, ...

http://www.phnompenhpost.com/index.php/2012022854746/National-news/counterfeit-medicine-campaign-under-way.html

Villagers in capital to protest development

Representatives from five communes in Koh Kong province are scheduled to hold a press conference in the capital today, appealing for government intervention in a land dispute with a Chinese development company that has spanned nearly four years. Lov Hov, a representative from Thmar Sar commune, ...

http://www.phnompenhpost.com/index.php/2012022854750/National-news/villagers-in-capital-to-protest-development.html

Gov't Launches Campaign to Clean Up Cities Nationwide

Prime Minister Hun Sen yesterday said all of the country’s cities would compete with each other to beautify urban zones and attract more tourists in the newly devised Clean City contest. Nine Phnom Penh districts and 26 cities nationwide will be assessed on how clean ...

Clean cities promoted through competition

The government wants to beautify Cambodian cities and has launched a competition to encourage the country’s urban centres to clean up their act. Speaking in front of a crowd of roughly 700 at the Peace Palace yesterday, Minister of Tourism Thong Khon said that the “Clean ...

http://www.phnompenhpost.com/index.php/2012022854752/National-news/clean-cities-promoted-through-competition.html

Cambodian Per Capita GDP To Touch $1,000

Echoing remarks made by Cambodian Prime Minister Hun Sen earlier last week, economic experts agreed that the country’s gross domestic product (GDP) per capita would reach US$ 1,000 ( Bt30,377) this year, up from the estimated $900 at the end of 2011. Managing director of Acleda ...

http://www.nationmultimedia.com/business/Cambodian-per-capita-GDP-to-touch-$1000-30176744.html

Officials Mute on Shooting Investigation; Rights Groups Concerned

Government officials remained tight-lipped yesterday about progress in their investigation of the Feb. 20 shooting of three female garment workers during a strike and demonstration in Svay Rieng province’s Bavet city. On Feb 20, three women were wounded when a uniformed gunman opened fire at ...

Kingdom inflation rises on oil prices

Inflation in Cambodia rose 5.8 per cent year-on-year in January, according to figures from the National Institute of Statistics. Rising fuel costs had spurred the inflation, which was felt largely in the price of food, officials said. Data showed food and non-alcoholic beverage prices in January increased ...

http://www.phnompenhpost.com/index.php/2012022754728/Business/kingdom-inflation-rises-on-oil-prices.html

China donates equipment to Cambodia for 2012 ASEAN meetings

The government of China on Monday delivered office supplies and equipment worth $403,000 to Cambodia in order to ease the country’s burden when it hosts the ASEAN summit and related Summits this year. The office supplies and equipment included 200 sets of desktops, 60 sets of ...

http://www.philstar.com/Article.aspx?articleId=781793&publicationSubCategoryId=200

No Investigation of OZ Minerals Deal, Police Say

The Australian Federal Police (AFP) have decided not to investigate the Australian mining company OZ Minerals, saying information that the firm paid hundreds of thousands of dollars to family members of officials in the Ministry of Industry, Mines and Energy (Mime) when buying out its ...

http://www.camnet.com.kh/cambodia.daily/

Protesting Garment Workers to Resume Work

After four days of protests, which at times grew violent, striking garment workers at the Manhattan Qing Dao Textile Corp in Kompong Cham province said they would be resuming work Monday after reaching a tentative agreement with the company. On Thursday, more than 1000 workers ...

Thai Firm Moves in to Build Koh Kong Power Plant

A Thai Company is conducting a feasibility study to build a coal-fired power plant in Koh Kong province and has already invested in a local firm with permission to develop the plant, according to officials and the company. In an announcement to the Thai Stock ...

CCTV shooting footage reviewed

Security footage of a shooting outside a shoe factory on Monday that left three protestors in hospital has been reviewed by police, the head of the special economic zone where the incident took place said yesterday. The three women were shot at a violent protest of ...

http://www.phnompenhpost.com/index.php/2012022454709/National-news/cctv-shooting-footage-reviewed.html

Fishermen back in Kingdom

Eight fishermen who escaped after more than a year of forced labour aboard a Thai fishing boat recounted tales of abuse and miserable working conditions upon their repatriation to the Kingdom yesterday. The men said that brokers had promised them salaried jobs in Thai factories, but ...

http://www.phnompenhpost.com/index.php/2012022454703/National-news/fishermen-back-in-kingdom.html

New Gov't Body to Regulate Telecom Industry

The government has agreed to create a regulatory body to ensure that companies operating in Cambodia’s telecommunications sector follow regulations and that companies that do not comply are held to account. According to a statement from the Council of Ministers, Prime Minister Hun Sen approved ...

NagaWorld Profits Double to $98 Million

NagaCorp, which owns Phnom Penh’s only licensed casino, announced on Wednesday that net profits at the company had more than doubled in 2011 and that plans are in store to expand its operations in the country. Financial Results filed with the Hong Kong Stock Exchange ...

Cambodia looks to banking and agriculture to spur growth

Garment-making has been a mainstay of Cambodia’s fledgling economy, chalking up between 6 and 7 percent annually for the past four years. But, the country is turning its focus back to the land in the hope that rice growing and other farming produce, will lift growth ...

http://www.channelnewsasia.com/stories/economicnews/view/1184944/1/.html

Protest Continues at Factory Linked to Manhattan SEZ

More than 1500 factory workers yesterday marched from the Manhattan Quing Dao Textiles Corp in Kompong Cham province to the provincial headquarters to ask authorities to force the factory owner to abide by two arbitration council rulings, a union representative and a factory worker said ...

Ease Flood Victims' Debts, Hun Sen Tells MFIs

Prime Minister Hun Sen has called on microfinance institutions to reduce interest rates and expand repayment periods for the tens of thousands of families affected by last year’s devastating floods. Addressing microfinance institutions (MFIs) on Tuesday during a conference at the Ministry of Rural Development, ...

Still No Arrest in Shooting of Special Economic Zone Workers

A day after Interior Minister Sar Kheng revealed that authorities had identified a suspect in the shooting of three female factory workers at a special economic zone (SEZ) in Svay Rieng province, officials yesterday refused to reveal the identity of the gunman, who had still ...

Kingdom must diversify its economy, ADB says [Interview]

“I think when you have an economy that depends on the agricultural sector, there is a need to ensure that we strengthen the linkages between rural and urban areas. Our work also focuses on promoting education so that we can provide better employment opportunities for ...

http://www.phnompenhpost.com/index.php/2012022354678/Business/kingdom-must-diversify-its-economy-adb-says.html

ADB provides Cambodia $69 mil. to improve provincial roads

The Asian Development Bank has provided $69 million for Cambodia to make major upgrades of provincial roads in some of the country’s poorest provinces, according to an ADB statement Wednesday. The Provincial Roads Improvement Project, financed by a $52 million loan from ADB Special Funds and ...

http://mdn.mainichi.jp/mdnnews/business/news/20120223p2g00m0bu134000c.html

Fear, rumours in wake of shooting

Speculation is bubbling in Bavet town over the identity of the man who shot three people protesting outside a shoe factory on Monday, with eyewitnesses, police and villagers suggesting blame lies with town officials. The shooting, which took place outside the Kaoway Sports Ltd factory ...

http://www.phnompenhpost.com/index.php/2012022354684/National-news/fear-rumours-in-wake-of-shooting.html

CSX takes another step toward listing companies

The Securities and Exchange Commission of Cambodia has approved in principle the listing of Phnom Penh Water Supply on the Cambodian Securities Exchange, according to the SECC’s website. The announcement fell a step short from listing approval for PPWS, with the SECC requiring additional paperwork, including ...

http://www.phnompenhpost.com/index.php/2012022254649/Business/csx-takes-another-step-toward-listing-companies.html

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