Economy and commerce

Sonatra Securities a designated broker has launched its operations in Cambodia ahead of the launch of the Cambodian Securities Exchange (CSX). As one of the four companies licensed by the Securities and Exchange Commission of Cambodia, Sonatra will be able to buy and sell shares ...

7 unions working together have said that they refuse to support a union law that has been drafted as the government has ignored their recommendations.  The potential legislation is said to be prohibitively restrictive and the unions have said they will boycott by organizing peaceful ...

The Asian Development Bank (ADB) has said that the rehabilitation of Cambodia’s railways will not be at the expense of those who live along the lines and has pledged to address the issue. Resettlement has been a problem for the rehabilitation but a new plan ...

Registered businesses have increased in number by 37 percent to approximately 1,528 compared with the same period for 2010. Cambodian Chamber of Commerce officials say that the number of entrepreneurs has increased with them focusing on textiles, agriculture and construction. Cambodia currently has an export ...

15 new projects worth a total of $110 million have been approved by Cambodia’s investment board in May. The Council for Development of Cambodia has approved two rubber plantations worth $60 million. Cin Qian Investment Co, a Chinese firm, has been approved for developing a ...

Prime Minister Hun Sen has officially allowed the privatization of 2,580 square meters of state owned land. 646 square meters of the land are in Phnom Penh. The sub-decree means that the land is closer to being eligible for development and sale. ...

The former deputy director of Anco Groups conglomerate and his wife have been denied bail when accused of stealing nearly $40 million. Anco Groups conglomerate is a consumer good vendor, electricity and hotel operator and is owned by Kok An. If convicted the former deputy ...

Prime Minister Hun Sen helped inaugurate the fourth bridge built by the Chinese in Cambodia. The $33 million bridge will span the Tonle Bassac river at Takhmau City. In Phnom Penh, a fifth bridge, dubbed the Cambodian-Chinese Friendship bridge is about to begin construction. ...

Cambodia has approved the creation of a footwear association under the umbrella of the Garment Manufacturers’ Association in Cambodia. 37 of the country’s 38 footwear factories agreed to the creation of a representative body for their industry. The footwear industry is said to have exported ...

Gold in Mondolkiri is at the center of a dispute between OZ Minerals and Shin Ha Mining Co Ltd after an alleged breach in contract. OZ Minerals bought out Shin Ha Mining Co Ltd from their joint venture without paying the true value of the ...

Japanese fund manager Asset Design plans to launch a Cambodian equities fund in late 2011. The fund would target large returns after the Kingdom opened its stock exchange this month, an Asset Design executive said yesterday. Asset Design expected the scale of the fund to ...

Vietnam’s Cai Mep port has contributed to a growth in shipments from the Phnom Penh Autonomous Port this year, Cambodian officials say. The Vietnamese deep-water port, near Ho Chi Minh  City, allows cargo to be transferred to ships travelling to more distant markets such as ...

Sixty community representatives from Preah Vihear and Kampong Thom provinces expressed concern yesterday over a string of recent economic land concessions granted within the bounds of the Boeung Per Wildlife Sanctuary. At a press conference held in Preah Vihear’s Rovieng district yesterday, they claimed the ...

Sokimex Group is set to break ground on six high-rise condominium buildings in Phnom Penh. Originally suspended in 2010 by Sok Kong because of low demand, the project has now been green lit. Phnom Penh property prices fallen 50 percent since 2008. ...

Six additional economic land concessions have been granted, totaling 46,000 hectares in protected areas. As a means to spur agribusiness companies the concessions include two in Phnom Aural Wildlife Sanctuary in Kompong Speu province. Prime Minister Hun Sen signed in the grants on June 3 ...

Inflation rose to 6.5 percent in May when compared to the same time last year, marking a 14 month high. Consumer prices are also shown to have risen by 1.4 percent with meat, fish and vegetables as the main culprit as they increased as well. ...

Cambodia is set for a 30 per cent increase in garment exports this year, according to Garment Manufacturers Association in Cambodia (GMAC) president Van Sou Ieng. The sector was heavily dependent on foreign buyers, which were increasing their orders  as the global economy recovered, he ...

The global economic recovery this year continues to benefit Cambodian banks, although insiders said yesterday macro-economic press-ures were still weighing on the industry. Some of Cambodia’s biggest banks had enjoyed a strong 2011 thanks to a rebound in lending, deposits and profits, officials said. Economists, ...

The former country partner and staff of Grant Thornton Law and Associates in Cambodia have joined the accountancy and advisory firm BDO Malaysia effective July 1, according to a statement. As a result, BDO Cambodia’s team will now comprise over 30 staff and partners, a ...

Overloaded vehicles are contributing to a more rapid than anticipated deterioration of Cambodia’s road network, experts said yesterday. “The cost of overloading causes problems to everyone involved, but it is easy to control damage if we have good system in place. This is the only ...

Compensation for Phnom Penh villagers set to be displaced by railway reconstruction may be insufficient due to a “systematic downgrade” of the value of their homes by the government, a report released yesterday said. The report, issued by the NGO Sahmakum Teang Tnaut, said the ...

The documents concern a court case brought by representatives of Hong Kong-based Enviro Group Holdings Limited who are suing John Davies and Lim Lian Tho – both former company directors of Phnom Penh based subsidiary Enviro Corporation (Cambodia) Ltd – and Mark McCluskey, a lawyer ...

The Asian Development Bank announced yesterday that the organizations behind the rehabilitation of Cambodia’s railways, including the government and the Australian development agency, have jointly pledged to address the complaints of people facing eviction from dwellings across the rail lines. The Australian government provided ...

Internet service provider Online is aiming to compete in the voice call market with its latest product, TalkMobile, a Skype-like application for handsets. Customers buy US$2 a month in credit to use the internet-based TalkMobile, and then pay prices ranging from about 6 cents a ...