Economy and commerce
Trade
Service Sector
The real growth rate of the service sector has been revised upwardly by half a percentage point against our previous prediction to 5.4 percent year-on-year in 2012, on the back of higher growth expected in the local trade and transport subsectors. The growth outlook of this sector in 2013 is quite ...
Cambodia, US Strengthen bilateral ties
Cambodia and the United States on Friday reconfirmed the good bilateral ties as president Barack Obama plans to visit Cambodia in November and this year, Cambodia chairs ASEAN. The two sides welcomed the improved ties between Cambodia and America, Koy Kuong, spokesman at the Ministry of Foreign Affairs and International Cooperation said ...
Second rice trial to China
Local rice miller Mega Green said it planned to export about 240 tons of milled rice to the Chinese market by the end of June – a second round of test exports to Cambodia’s northern neighbour. Renne Outh, owner of Mega Green Imex Cambodia, told the ...
http://www.phnompenhpost.com/index.php/2012060156526/Business/second-rice-trial-to-china.html
Low price slows trade of PPWS on exchange
The price of Phnom Penh Water Supply Authority shares have fluctuated only US$0.04 during the past 12 days of trading. The low price and a lack of liquidity on the market may account the low volume of shares traded, insiders said, which averaged at 55,773 during ...
Cambodia Plans to Send Second Test Consignment of Rice to China
Cambodia is planning to send a second consignment of 40 tons of milled rice to China as a part of the approval process for rice exports to China. In April, China had rejected a sample consignment of about 48 tons ...
Credit guarantee unit to serve Asean
The Credit Guarantee and Investment Facility (CGIF), an agency set up by Asean+3 and the Asian Development Bank to help develop local-currency bond and cross-border bond markets in the region, has started to operate, says chief executive Kiyoshi Nishimura. He said the CGIF will fill in ...
http://www.bangkokpost.com/business/economics/296033/credit-guarantee-unit-to-serve-asean
Southeast Asia's solid economic growth rides over global woes
Southeast Asia is showing stronger signs of resilience to global turbulence than the rest of Asia as buoyant domestic spending offsets struggling exports, while low debt levels give governments more room than their cash-strapped counterparts in the West to deliver stimulus. On Thursday, the Philippines became ...
http://uk.reuters.com/article/2012/06/01/uk-seasia-economy-idUKBRE85009U20120601
Electronics factory to open
A US$37.9 million base plate factory will launch in June in the northwestern province of Banteay Meanchey, Japanese electronics manufacturer SC WADO Component Co said yesterday in a statement. The entry of SC WADO, a subsidiary of Nidec Electronics, was another step in Cambodia’s march away ...
http://www.phnompenhpost.com/index.php/2012053156501/Business/electronics-factory-to-open.html
Garment Exports Grow 15% in First Quarter
Garment and footwear exports from Cambodia increased 15.29 percent to $1.29 billion in the first three months of the year compared to the same period in 2011, according to figures released yesterday by the Ministry of Commerce. While exports to the European Union rose 46.76 percent to $376.14 million in ...
Guinea To Buy Milled Rice Product From Cambodia
Guinea will buy 40,000 tons milled rice product from Cambodia in the near future, Eang Sophalet, assistant to Prime Minister Hun Sen said on Friday after the meeting between Samdech Prime Minister Hun Sen and visiting president of Guinea His Excellency Professor Alpha Conde at peace palace in Phnom Penh. ...
Malaysia - Cambodia Trade And Investment Performance 2011
Cambodia and Malaysia trade and investment are increasing subsequently as the two members of ASEAN are trying to boost the integration for ASEAN community in 2015. The report from the embassy of Malaysia here said: as for trade performance in 2012, for the first quarter of 2012, Malaysia recorded an increase of 5.32 percent. Total trade ...
Koh Pich to host ASEAN dinner
The new function building at Diamond Island known as Koh Pich City Hall will host the ASEAN Foreign Minister’s dinner on July 12. Completed in March and opened last month, construction of the lavishly furnished venue was timed to coincide with Cambodia’s chairmanship of ASEAN this ...
http://www.phnompenhpost.com/index.php/2012053156497/Business/koh-pich-to-host-asean-dinner.html
‘Restraint’ watchword at ASEAN meet
The planned theme of yesterday’s ASEAN defence ministers roundtable was military cooperation between countries, particularly in times of natural disaster, but it was a theme invariably pushed to the background by other regional developments. Among them was what appeared to be a cooling-off period in the ...
http://www.phnompenhpost.com/index.php/2012053056478/National-news/restraint-watchword-at-meet.html
SMEs look to regional buyers
Cambodia’s ASEAN Economic Minister yesterday urged small and medium-size enterprises to focus on countries in Southeast Asia, rather than Europe and the United States, for export destinations. Cham Prasidh, also the minister of commerce, said yesterday that regional markets have traditionally held a second place to ...
http://www.phnompenhpost.com/index.php/2012053056469/Business/smes-look-to-regional-buyers.html
Buses to Run Direct to and from Bangkok
Starting next month, 80 Cambodian and Thai buses and trucks will be allowed to transport goods and passengers directly between Bangkok and Phnom Penh for the first time, an official said yesterday. Suon Vanhong, deputy director of transport at the Ministry of Public Works and Transport, ...
China Donates $19M During Asean Defense Meet
As the region’s top brass gathered in Phnom Penh for the Sixth Asean Defense Ministers Meeting, it was Beijing that once again stole the show with Chinese Defense Minister Liang Guanglie signing off on nearly $19 million in military aid to Cambodia. In the country on ...
Kingdom’s logistics firms see diversity
Logistics firms saw a new level of diversity in Cambodian exports, a trend that would protect the economy from external shock, several shipping companies said. The Kingdom is on the right track to diversify and increase the export of agricultural products, while decreasing its reliance on ...
Rice alliance formed
A new partnership looking to export Cambodian rice to world markets formed yesterday afternoon at Sunway Hotel The Alliance of Rice Producers and Exporters of Cambodia (ARPEC) elected their first executive committee, which includes office holders Phou Puy, Hann Khieng, Oknha Kong Sang, Sok Cheng, Seng ...
http://www.phnompenhpost.com/index.php/2012052856413/Business/rice-alliance-formed.html
Guinea interested in Cambodian rice
The Republic of Guinea plans to import 40,000 tonnes of milled rice from Cambodia, Alpha Condé, the president of the West African nation, said during a recent visit to the Kingdom. The two countries will also look to follow up on agricultural technology co-operation agreed on ...
Cambodia: Economic Performance and Reform Update
The Cambodian economy has continued its high growth path as real GDP expanded by 6.9 percent in 2011 and is expected to grow by 6.6 percent in 2012, report from world bank said this week. Cambodia has been one of the fastest growing countries in the world over the past ten years, ...
Cambodia-India Trade Values $85 Million In 2011
Cambodia-India trade valued $85 million last year while Cambodian exports amounted $12 million and imports from India were worth $73 million, an official said Friday. ...
Cambodia Officially Starts Trading Life Insurance
Cambodia on May 21 officially started to trade life insurance for first time in history with hope of supplementing social security and growth of insurance development in the kingdom. At the inauguration ceremony at 21st floor of Canadia Tower in Phnom Penh, His Excellency, Aun Porn Moniroth, secretary of state of finance ministry said: “it ...
Silk producers look to sew up EU market ties
Cambodia’s silk producers say they must cut costs in order to continue reaching troubled European markets, the primary target for the Kingdom’s sericulture products. Insiders said Cambodian companies must start producing their own silk for the industry to survive. Silk craftspeople import some 400 tonnes of silk ...
World Bank outlook for Cambodia positive
The World Bank’s biannual report on Cambodia was largely positive given dire economic prospects in Europe, which economists agreed were closely tied to the Kingdom’s key export sectors. The report, released yesterday, predicted 6.6 per cent growth in gross domestic product Manufacturing is predicted to slow slightly this year, ...