Economy and commerce

Hands-on contest a hit in Cambodia

Long a popular fixture of US TV and radio competitions, “Hands on a Hardbody,” a marathon endurance contest where participants vie to hold their palms against a car the longest in order to win it, has expanded to Cambodia. More than 80 participants took part ...

http://www.phnompenhpost.com/index.php/2011090151403/Lifestyle/hands-on-contest-a-hit-in-cambodia.html

Tourism stronger than predicted

The Kingdom’s tourism industry this year will perform much better than the government expects thanks in part to Cambodia’s growing popularity as a vacation destination, investment firm Cambodia Capital has said. Total tourist arrivals to Cambodia for 2011 will reach 2.85 million, while total revenues ...

http://www.phnompenhpost.com/index.php/2011090151407/Business/tourism-stronger-than-predicted.html

Exchange officials explain IT system

Stock exchange officials were conducting a five-day workshop on the IT system that will allow trading,  Securities and Exchange Commission of Cambodia director-general Ming Bankosal said yesterday. The workshop, held in conjunction with the Cambodia Securities Exchange, would also seek feedback on the system’s functionality ...

http://www.phnompenhpost.com/index.php/2011090151406/Business/exchange-officials-explain-it-system.html

Property Developers Seek Ministry Licenses

Several property developers ave approached the Ministry of Finance to ask for licenses after the ministry warned buyers last month not to purchase housing fro developers who are not licensed to sell their properties. The ministry’s warning, issued Aug 11, identified three local developers that ...

Tensions cause drop in ASEAN imports

Tensions with Thailand led to a 10-percent decline in imports from ASEAN members during the first six months of 2011, though Cambodia’s exports to the bloc nearly doubled, according to officials. Cambodia imported US$810.9 million during the six-month period compared to $904.9 million during the period ...

http://www.phnompenhpost.com/index.php/2011083151356/Business/tensions-cause-drop-in-asean-imports.html

Sihanoukville flight claims

Two airlines plan to begin regular flights between the tourist towns of Siem Reap and Sihanoukville this year, officials said yesterday. Cambodia Angkor Air aims to begin its regular flights by December, though may delay into 2012 if necessary, said Office of the Council of ...

http://www.phnompenhpost.com/index.php/2011083151357/Business/sihanoukville-flight-claims.html

Rice Grower to Set Up Farms in Cambodia and Myanmar

Hybrid rice producer SL Agritech Corp. plans to set up a plantation in Cambodia via a joint venture instead of shipping out produce from its Philippine farms, a ranking official said last week. “We are looking at starting the shipment of seeds to Cambodia and to ...

http://www.bworldonline.com/content.php?section=Corporate&title=Rice-grower-to-set-up-farms-in-Cambodia-and-Myanmar&id=37530

Tourism numbers rise by 14 per cent

The number of foreign tourists visiting Cambodia through July climbed 14 per cent year-on-year, with the most arrivals coming from Vietnam, South Korea and China, according to the latest Ministry of Tourism figures. Improved transportation, greater promotion of the Kingdom to world markets and widely ...

http://www.phnompenhpost.com/index.php/2011083051330/Business/tourism-numbers-rise-by-14-per-cent.html

Two more banks setting up shop

The National Bank of Cambodia has issued a commercial banking licence to a Taiwanese bank, while another banking licence is pending approval for a Chinese-Cambodian joint venture, central bank Director General and Spokeswoman Ngoun Sokha said yesterday. The central bank had licensed Taiwan’s Mega International ...

http://www.phnompenhpost.com/index.php/2011083051333/Business/two-more-banks-setting-up-shop.html

Cambrew to pay overtime to beer girls on Monday

Cambrew yesterday paid the beer promoters who went on strike in late July to demand that the company abide by an Arbitration Council ruling earlier that month that said it owed the women three years of overtime for working on Sundays. The company, which is ...

http://www.phnompenhpost.com/index.php/2011083051340/National-news/cambrew-to-pay-overtime-to-beer-girls-on-monday.html

Ports to Be Better Regulated Under New Law

The government is drafting a new law that will aim at improving auditing standards and management practices at all of Cambodia’s ports on the coast and rivers and at dry ports inland, officials said yesterday. Speaking at a workshop on port regulation in Phnom Penh, ...

Chinese Company Voices Interest in Cambodian Oil

Hong Kong-listed China Oilfield Services Ltd, an offshore services provider for the oil and gas sectors, is looking to start operations in Cambodia, according to an earnings report released by the company last week. “For the overseas market, apart from expanding and strengthening the overseas ...

Lion Forest Industries’ RM78.3m Cambodian Investment

Kuala Lumpur–Lion Forest Industries BHD (LFIB) is acquiring 58,000 hectares under an economic land concession (ELC) in Cambodia for US$26.1 million (RM78.3 million) to cultivate oil palm and rubber trees. LFIB said on Monday, Aug 29 the concession would not be less than 70 years under ...

http://www.theedgemalaysia.com/business/192189-lion-forest-industries-rm783m-cambodian-investment.html

Overflight fees set to increase

Cambodia may raise fees for planes moving through the Kingdom’s airspace after granting Cambodia Air Traffic Services Company permission to increase the fees by 5.5 percent. Cambodia’s overflight fees are low, and will remain low, compared to other countries in the region, Soy Sokhan, undersecretary ...

http://www.phnompenhpost.com/index.php/2011082951326/Business/overflight-fees-set-to-increase.html

Thai trade fair pushed back to 2012

The postponed 2nd Thailand Trade Exhibition 2011 will not be reorganised this year due to budget restrictions, according to Jiranan Wongmongkol, commercial counsellor based at the Thai embassy in Phnom Penh. The trade fair was originally scheduled for May 19 to 22 at Phnom Penh’s ...

http://www.phnompenhpost.com/index.php/2011082951328/Business/thai-trade-fair-pushed-back-to-2012.html

1st Chinese Animal Feed Mill Launches in Cambodia

Phnom Penh–The first Chinese animal feed mill officially inaugurated here on Sunday, bringing the number of the same kind of factories in the country to five, said Cambodian Minister of Agriculture. “The factory is a new achievement of good cooperation between the governments and the peoples ...

http://news.xinhuanet.com/english2010/china/2011-08/28/c_131079538.htm

Maid nightmares retold

A Cambodia migrant worker who was at times threatened at knifepoint, tied up or punched in the head by her employer yesterday revealed her chilling experience of the labour recruitment industry.  Following her testimony via video link, broadcast at Sam Rainsy Party headquarters, opposition parliamentarian ...

http://www.phnompenhpost.com/index.php/2011082651282/National-news/labour-nightmares-retold.html

National Carrier to Start Siem Reap-S’ville Flights

Cambodia Angkor Air will launch a regular flight service between Siem Reap and Sihanoukville by the end of the year, an official at the Council of Ministers said yesterday. There are currently no flights to Sihanoukville, the country’s premier coastal resort, even though the airport ...

Donors Mum On Aid Forum Postponement

Cambodia’s foreign donors are staying largely mum about the government’s decision to indefinitely  high-level aid meeting, though one donor conceded that the move had caught it off guard. Economists also said yesterday that a delay in holding the donor meeting would have little effect, but ...

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