Economy and commerce

‘Price Dumping’ in Telecoms Market Still Persists

The Ministry of Post and Telecommunications implemented a law preventing mobile phone service providers from selling at less than cost over a year and a half ago, though the companies are still lowering their tariffs in an effort to remain competitive in the highly saturated ...

Culture Ministry Plans to Build New Cinema

In an effort to increase Khmer film production the Ministry of Culture and Fine Arts is going to build a state-run cinema next to the Chaktomuk Conference Hall. Recently Westec Media opened a cinema, the first offering 3D movies in Cambodia, at City Mall in ...

Tourism driving total investment approvals

The high number of approved projects in the tourism sector is a sign of optimism according to Minister of Tourism Thong Khon. Due to emphasis on areas beyond Angkor Wat, Cambodia’s GDP could largely be a result of tourism. The current 57 projects are worth ...

http://www.phnompenhpost.com/index.php/2011072250561/Business/tourism-driving-total-investment-approvals.html

Cambodia’s Vietnam trade increasing

Prices for Vietnamese goods are increasing driving up demand for lower cost Cambodian goods. Exports to Cambodia’s neighbor have increased by more than 84 percent for the beginning of 2011, totaling some $247 million according to the Vietnam Trade Office. Inflation is rising in Vietnam ...

http://www.phnompenhpost.com/index.php/2011072250562/Business/cambodias-vietnam-trade-increasing.html

ANZ Royal sees yuan role

ANZ Royal Bank is seeking a larger part in handling transitions involving the Chinese yuan as the currency becomes more prevalent. Exports who bill their clients in yuan are being granted tax rebates of between 15 and 18 percent by the Chinese government. A service ...

http://www.phnompenhpost.com/index.php/2011072250563/Business/anz-royal-sees-yuan-role.html

Supertex workers in new strike

Textile workers at the Supertex factory are considering holding another strike because their compensation demands have not been met during an Arbitration Council hearing. Previously Supertex announced it was closing its factory without having given prior notice, prompting the 1,600 works to seek arbitration. With ...

http://www.phnompenhpost.com/index.php/2011072250569/National-news/supertex-workers-in-new-strike.html

Beer girl exploitation revealed

The exploitation of women who work as beer promoters is soon to be exposed in a report that is going to be released by Care Cambodia and the Solidarity Association of Beer Promoters in Cambodia. The report will include first had accounts and interviews of ...

http://www.phnompenhpost.com/index.php/2011072250581/National-news/beer-girl-exploitation-revealed.html

Koh Kong king halted

Ly Yong Phat and his company LYP Group have been ordered to cease all dredging operations on the Tatai river pending a review of the effects by the Ministry of Water Resources and Meteorology. LYP Group currently has a permit to dredge seven areas of ...

http://www.phnompenhpost.com/index.php/2011072250582/National-news/koh-kong-king-halted.html

Mortgage lending improving as real estate sector slowly returns to strength

Mortgages are increasingly being used by home buyers in Cambodia according to experts. Commercial banks had slowed direct loans to property development in the wake of the 2008 global financial crisis, though mortgage lending has increasingly filled the space, said National Valuers Association of Cambodia ...

http://www.phnompenhpost.com/index.php/2011072150544/Special-Supplement/mortgage-lending-improving-as-real-estate-sector-slowly-returns-to-strength.html

Price tag set for railway link to Vietnam border

The rail link to Vietnam from Cambodia has been estimated at $686 million dollars. The link would finally connect Singapore to Kunming, China. The $686 million does not include compensation for those who link along the proposed railway locations and no funding has been confirmed ...

http://www.phnompenhpost.com/index.php/2011072150549/Business/price-tag-set-for-railway-link-to-vietnam-border.html

Cambodia’s airports see growth in 2011

There has been a 13 percent increase to Cambodia’s two international airports since the beginning of the year. The USA, China, South Korea and Vietnam along with Japan were the key factors in this growth. The government’s attempts to attract visitors and investors is cited ...

http://www.phnompenhpost.com/index.php/2011072150548/Business/cambodias-airports-see-growth-in-2011.html

Prices for Land at 2009 Levels, Report Shows

ASEAN Valuers Association have reported that property prices in Cambodia have not changed since 2009. Property prices in Phnom Penh are 2 percent lower than they were in 2009. CEO of Bonna Realty Group Sung Bonna has said that investors should take advantage of low ...

Illegal Mobile Phone Services Targeted by Telecom Ministry

Illegal Thai mobile phone services have been ordered by the Ministry of Post and Telecommunications to cease their services inside of Cambodia. The services are being relayed as far as 100km within the border of Cambodia through a series of illegally constructed cell towers. qb ...

Ministry Takes First Step Toward Smoking Ban

The Ministry of Tourism has asked bars, restaurants and hotels to ban smoking within their establishments in order to promote a better environment, health and reduce poverty. Tourists will feel safer according to deputy director Sam Chanren if there is a smoking ban. The directive ...

Cambodian Air Arrivals Eclipse 2007 Numbers

The number of people arriving in Cambodia through the nation’s airports has passed the 2007 number for the same period, providing proof of recovery from the financial crisis. The levels reached 1.8 million passengers for Siem Reap and Phnom Penh international airports. Traffic through Cambodian ...

OZ Minerals Future in Cambodia Still Unclear

OZ Minerals, the Australian mining company is reviewing its assets in Cambodia and is so far not planning any further work in the country. Their assessment of gold reserves in the country will be updated by the end of the year at which time the ...

Bank’s Plan Greeted With Skepticism

A 10 year strategic plan designed to ensure financial stability in Cambodia has been released by the central bank to much skepticism. The $700,000 study sponsored by the Asian Development Bank (ADB) is said to be short on details even though it calls for the ...

Complaints Submitted in K Chhnang Land Dispute

A development company owned by the wife of the Minister of Industry, Mine and Energy Suy Sem has been the target of 40 civil complaints received by the provincial court of Kompong Chhnang province. Chea Kheng claims she owns the 214-hectare plot of which 69 ...

Valuers to meet in Siem Reap

Real-estate evaluators from the ASEAN Valuers Association (AVA) have met in Siem Reap in order to improve the industry. The AVA wants to develop the Cambodian real-estate market by assisting developers and investors. Those attending the conference share experience and ideals will offering training to ...

http://www.phnompenhpost.com/index.php/2011072050510/Business/land-pricing-valuers-to-meet-in-siem-reap.html

Cambodia targets de-dollarisation, crisis prevention

Cambodia’s financial strategy for the next decade includes de-dollarisation, improved regulations and better crisis prevention and management. The Financial Sector Development Strategy (FSDS) was released by the Ministry of Economy and Finance in partnership with the National Bank of Cambodia (NBC) and financed by the ...

http://www.phnompenhpost.com/index.php/2011072050512/Business/cambodia-targets-de-dollarisation-crisis-prevention.html

Buyers going for gold

Consumer interest in gold has increased in Cambodia even with the price of gold at a record high. Gold is up more than $333 from the same time last year. The increase in gold prices is said to be a result of the 2008 financial ...

http://www.phnompenhpost.com/index.php/2011072050514/Business/buyers-going-for-gold.html

Court again frustrates locals in KDC

KDC International, which is owned by Chea Kheng the wife of Industry Minister Suy Sem has been accused of grabbing 145 hectares of land in the Kampong Chhnang province. The villagers who claim the land have filed objects individually, after having been told to do ...

Mfone’s pricing plan draws controversy

The launch of Mfone’s new unlimited calling plan has drawn criticism from the Ministry of Post and Telecommunications. It is said that the price scheme contravenes Cambodia’s minimum pricing rules introduce in 2009. Hello, another mobile phone provider, has already introduced an unlimited calling plan ...

http://www.phnompenhpost.com/index.php/2011071950472/Business/mfones-pricing-plan-draws-controversy.html

Imports from Thailand show decline

The Thai embassy has released figures that show that exports to Cambodia have decreased slightly from $1.095 billion to $1.091 billion. Total trade between the nations has increased by 3.5 percent for during the first of the year when compared to last year. Cambodia has ...

http://www.phnompenhpost.com/index.php/2011071950473/Business/bilateral-trade-imports-from-thailand-show-decline.html

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