Economy and commerce
Trade
Cambodia’s Economic Opportunity
While significant obstacles remain, the success of the rice sector is a potentially crucial driver in Cambodia’s prosperous and equitable development. Cambodia announced two major bilateral trade agreements recently, with the Philippines and Thailand, that are expected to further expand the country’s rice export sector. ...
http://thediplomat.com/2013/05/09/cambodias-economic-opportunity/
Trade with Vietnam increases
Bilateral trade between Cambodia and neighbouring Vietnam rose more than 10 per cent year-on-year in the first quarter of this year, data from the Vietnam Embassy in Phnom Penh showed. Officials said cross-border trade facilitation by both countries significantly contributed to the growth. But they said ...
http://www.phnompenhpost.com/2013050965501/Business/trade-with-vietnam-increases-2013.html
Major banks show more agricultural sector trust
Major financial institutions show more trust in providing loans to the agricultural sector, evidenced by increasing agricultural loan disbursement, thanks to potential growth in the sector and better preparation of financial report among borrowers, according to industry insiders. Acleda Bank, Cambodia’s largest domestically owned bank, has ...
Investor Decries Export Tax on Cambodian Seafood
A major Hong Kong investor in Cambodia has claimed that a government duty on seafood exports is stunting the country’s fish processing industry. Hong Kong-based Sunwah Group began operating a shrimp-processing factory in Sihanoukville in 1994, and its plans in the country now include building a ...
Milled Rice Exports Rise in the First Four Months
Milled rice exports have seen dramatic growth this year as the sector begins to take advantage of duty-free exports to European countries, an official and the U.N. Food and Agriculture Organization (FAO) said. Thon Virak, director of state-owned rice exporter Green Trade, said Tuesday that in ...
http://www.cambodiadaily.com/business/milled-rice-exports-rise-in-first-four-months-22826/
Firm Given Rights to All ELC Timber in Ratanakkiri
The Ministry of Agriculture has signed a deal with Try Pheap Import Export to give the firm the right to purchase all timber felled in economic land concessions (ELCs) in Ratanakkiri province, according to a letter sent from the Agriculture Ministry to the Forestry Administration ...
http://www.cambodiadaily.com/news/firm-given-rights-to-all-elc-timber-in-ratanakkiri-22788/
Chevrolet autos aim to tap into demand for new cars in Cambodia
Chevrolet, one of America’s iconic brand autos, officially launched its first dealership here on Monday, aiming at tapping into the country’s growing market for new vehicles. Martin Apfel, president of the US’ General Motors to Southeast Asia Operations, said at the launching ceremony at the cars’ ...
Union calls for stable rent for workers
The Cambodian Confederation of Unions (CCU) urged all apartment landlords to not increase their rent because garment and footwear employees get only a basic salary of $80 per month. A statement issued Monday said the wage increase from $61 per month to $80 will be implemented ...
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=NzI2NDk4N2M2YTA
Cambodia gets rolling
The small but sleek Angkor Car can easily navigate the narrow streets of Cambodia, while with an electric engine saves on expensive fuel costs. It may cost $10,000 per vehicle, a bit steep for most local people, but the vehicle is a welcome testimony to ...
http://www.bangkokpost.com/business/marketing/348783/cambodia-gets-rolling
Cambodia, Bangladesh ink visa exemption deal for diplomatic, official passport holders
Cambodia and Bangladesh on Friday signed a visa-free agreement for diplomatic and service passport holders in a bid to strengthen bilateral ties in politics, trade, investment and tourism, officials said. The deal was inked here between Long Visalo, secretary of state at Cambodian Ministry of Foreign ...
http://news.xinhuanet.com/english/world/2013-05/03/c_132357925.htm
Government Mulls Issuing Sovereign Bonds
Cambodia is considering offering sovereign bonds to raise more revenue for the national budget and move away from its dependence on overseas aid, a senior central bank official said Sunday. National Bank of Cambodia director-general Nguon Sokha said the Ministry of Economy and Finance was currently ...
http://www.cambodiadaily.com/business/government-mulls-issuing-sovereign-bonds-21989/
Sugar Firm Files Defense in Cambodian Lawsuit
British sugar firm Tate & Lyle has denied knowing of the alleged abuses at two Cambodian plantations accused of illegally driving hundreds of families off their farms and says that the families have no right to ask the company for compensation, according to the firm’s ...
http://www.cambodiadaily.com/news/uk-sugar-firm-files-defense-in-cambodian-lawsuit-21913/
Agriculture Contributes To Helping Cambodia’s Economic Growth: PM Hun Sen
“The agriculture sector today is still playing significant role in promoting local production growth, job creation, and contributing to the poverty reduction of the people. At the same time, the agriculture sector will continue the basic role for economic growth and socio-economic development in Cambodia in ...
Cambodia-U.S. trade flat in Q1
The two-way trade volume between Cambodia and the United States valued at 758 million U.S. dollars in the first three months of this year, up only 0.8 percent compared with 752 million U.S. dollars over the same period last year, the statistics of the U.S. ...
http://news.xinhuanet.com/english/business/2013-05/03/c_132357935.htm
Officials Consider Export Numbers Fishy
The Ministry of Commerce has released figures showing Cambodia’s export of fishery goods including fresh and dried fish products have decreased drastically in the first quarter of the year, though several government officials viewed the figures with scepticism. Cambodia exported 49.9 tonnes of fish products in ...
http://www.phnompenhpost.com/2013050365392/Business/officials-consider-export-numbers-fishy.html
Thai Trade Expo Draws Thousands of Cambodian Visitors Despite Ongoing Border Row
Thousands of Cambodian people visited and bought Thai products on Thursday at a large scale exhibition although simmering border spat between the two countries remains unsolved. “Even though border dispute is still going on, trade and investment ties between Thailand and Cambodia are still good,” Amparwon ...
http://news.xinhuanet.com/english/business/2013-05/02/c_132355223.htm
Mobile Bonuses Axed After Firm Complaint
Minister of Posts and Telecommunications So Khun said Wednesday that the government’s decision last week to order all mobile phone firms to stop offering generous top-up bonuses came after one of the market’s competitors complained to the ministry. Ian Watson, CEO of Mobitel, denied complaining ...
http://www.cambodiadaily.com/business/mobile-bonuses-axed-after-firm-complaint-21436/
Thousands of workers in Cambodia march for pay rise on Int'l Labor Day
About 5,000 Cambodian workers took to the street on Wednesday to mark the International Labor Day, calling for pay rise, better labor conditions and decrease in petrol prices, a union representative said. Marchers, mostly garment workers, held banners and walked from the Freedom Park near the ...
http://news.xinhuanet.com/english/world/2013-05/01/c_132352087.htm
Made in Cambodia: Foreign Industry Calls on Cambodia as the Next “Low-Cost” Alternative in All Things Manufacturing
About a decade ago, global manufacturing firms staged a mass exodus to Asia in search of low-cost alternatives to increasing domestic wage demands and operational costs. The consensus was the continued development of a regional supply chain that had formed in countries like Vietnam and Indonesia, ...
MobiTel, Smart Fight It Out Over Prices
With competition rife in Cambodia’s telecommunication market, two of the country’s largest mobile phone operators have engaged in a battle over prices and are at odds over the tactics being used to gain market share. On Friday, the Telecommunication Regulator of Cambodia (TRC) ordered all mobile ...
http://www.cambodiadaily.com/news/mobitel-smart-fight-it-out-over-prices-21085/
Laos, Cambodia aim to address illegal border issues
Illegal border movements, illegal logging, drug trafficking, illegal fishing and unofficial cross border trade are among the issues being confronted by Laos and Cambodia along their shared border at the moment. The report was made during a meeting held between Champassak provincial authorities from Laos and ...
http://www.thecambodiaherald.com/cambodia/detail/1?page=15&token=YzA1YzU0ODk0ZDM
Thailand and Cambodia to forge closer trade talks
After the fourth Joint Trade Commission (JTC) recently, Commerce Minister Boonsong Teriyapirom said that Thailand and Cambodia had the potential to drive two-way trade up by 30 per cent, due to strong growth in 2012. Last year, bilateral trade grew by 40.5 per cent year on ...
Cambodia's trade with Thailand down 2.3 pct in Q1
Bilateral trade between Cambodia and Thailand went down by 2.3 percent during the first quarter of this year, according to the statistics released by [the] Thai Embassy in Phnom Penh on Monday. Officials said the drop was due to “Thai baht appreciation, not ongoing border conflict” ...
http://news.xinhuanet.com/english/business/2013-04/29/c_132349426.htm
Special Thai-Cambodian cassava-corn trade zone set to be established
Thailand and Cambodia are on a path towards the setting up of a special trade zone that will see the two neighbors actively trade cassava and corn. Commerce Minister Boonsong Teriyapirom revealed on Monday that the 4th Thailand-Cambodia Joint Trade Committee meeting, held last week, saw ...
http://thainews.prd.go.th/centerweb/newsen/NewsDetail?NT01_NewsID=WNFOR5604290010003