Investment policy and regulations
Foreign investors
Friends in high places
A Chinese developer with a “family-like” relationship to Prime Minister Hun Sen’s bodyguard unit has accelerated construction at its $5 billion resort – ostensibly cancelled by royal decree in 2010 – in a protected national park in Preah Sihanouk province. The 3,300-hectare Golden Silver Gulf resort ...
Daniel Pye and May Titthara
http://www.phnompenhpost.com/national/friends-high-places
Belarus minister to inaugurate tractor plant next week
Belarusian Foreign Minister Vladimir Makei is to attend the inauguration of a tractor assembly in Cambodia next week, according to the Belarusian Telegraphic Agency. “There are plans to discuss a wide range of issues of the bilateral agenda with the emphasis on the prospects of ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=NmI2MjQyOWVkMTI
It’s paradise – for some
On the shore of Koh Kong province’s Kiri Sakor district overlooking a cluster of islands, a flourishing new golf course lies vacant but for a handful of workers tending its empty greens. The Romanesque hotel behind it, replete with a bold central dome, luxury VIP suites ...
May Titthara and David Boyle
http://www.phnompenhpost.com/national/its-paradise-%E2%80%93-some
Burger King chain to expand
Burger King will launch another three restaurants in Cambodia by the end of the year, according to a company official, in a move that will bolster the fast food chain’s share of a market dominated by KFC. Somach Sovary, support manager for Burger King Cambodia, said ...
Eddie Morton
http://www.phnompenhpost.com/business/burger-king-chain-expand
Viriyah firm plans move in Cambodia
Thailand’s Viriyah Insurance, one of the biggest firms of its kind in the country, is seeking to expand its motor vehicle business in Southeast Asia, according to a report yesterday in the Bangkok Post. ...
Chan Muy Hong
http://www.phnompenhpost.com/business/viriyah-firm-plans-move-cambodia
Standoff in Areng Valley continues
Seven Chinese nationals were prevented from entering the Areng Valley in Koh Kong province yesterday as locals continued their standoff with the operator of the Stung Cheay Areng dam concession, villagers at the scene said. Ven Vorn, a community leader among those blocking a road used ...
Phak Seangly and Daniel Pye
http://www.phnompenhpost.com/national/standoff-areng-valley-continues
Porsche dealership to open
The newly appointed local distributor of German carmaker Porsche broke ground yesterday on a $2 million dealership that is set to open within eight months across from the Phnom Penh International Airport on Russian Boulevard. Equipped with four service bays, the planned Porsche Centre Phnom Penh ...
Eddie Morton
http://www.phnompenhpost.com/business/porsche-dealership-open
Power couple linked to Sinohydro project
Two of the country’s most powerful and politically connected business owners are on the board of governors of the company thought to have brokered a controversial deal between the world’s largest hydropower developer and the Cambodian government, documents obtained by the Post show. Cambodian People’s Party ...
Daniel Pye
http://www.phnompenhpost.com/national/power-couple-linked-sinohydro-project
Pestech bags RM282m contract in Cambodia
Integrated electric power technology provider Pestech International Bhd has bagged a contract worth US$86.065 million (RM282 million), to construct a 198km transmission line for the transmission of power from existing and future power plants in the Sihanoukville area to Phnom Penh City, Cambodia. Pestech’s wholly-owned Cambodian ...
The Sun Daily News Staff
http://www.thesundaily.my/news/981297
MTZ to supply $5.3m worth of tractor knock-down kits to Cambodia
Minsk Tractor Works (MTZ trademark) has signed a contract on the delivery of tractor knock-down kits worth $5,359.4 billion to Cambodia in 2014, BelTA learnt from the company. The construction of the assembly plant, Belarus Mekong, has been completed. The opening ceremony is slated for 26-28 ...
BelTA News Staff
http://news.belta.by/en/news/econom?id=742143
Briq enters the Cambodia market
Creative agency Briq has expanded to Cambodia, its second office globally after first launching in Singapore four years ago. Briq International Cambodia will offer marketing and communication solutions – creative, production, digital services, strategic planning and research, content development, public relations, media and activation. ...
Marketing Interactive News Staff
http://www.marketing-interactive.com/briq-enters-cambodia-market/
New local distributor for Jaguar, Land Rover
RMA Cambodia confirmed yesterday it had taken over from rival firm Envotech as the Kingdom’s only authorised dealer of Land Rover and Jaguar vehicles. Envotech will have held the authorised dealer rights for two years when it closes its Phnom Penh dealership on March 26. RMA, whic ...
Hor Kimsay
http://www.phnompenhpost.com/business/new-local-distributor-jaguar-land-rover
Britain eyes 5 bln USD trade volume with Cambodia by 2020: envoy
British Prime Minister’s Trade Envoy David Puttnam said Thursday that the country looked to boost bilateral trade volume with Cambodia to $5 billion by 2020. “The bilateral trade between the UK and Cambodia reached $1 billion last year and we expect the trade volume will hit ...
Global Times
http://www.globaltimes.cn/content/846621.shtml#.UxlBOD-Sylt
Cambodia could lose competitive edge in bicycles: report
Cambodia could lose its competitive advantage in bicycle manufacturing and assembly, an industry source says. In a report from the Taipei Cycle Show late Wednesday, the US-based Bicycle Retailer and Industry News said Cambodia had used low wages and zero tariffs in the European Union to ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=OGJjZWE0MTM4YzR
Amid stable outlook, Moody's confirms Cambodia credit rating
Moody’s Investors Service affirmed Wednesday Cambodia’s government issuer rating at B2 with a stable outlook, stating that recent labour unrest could result in only slightly slower economic growth this year. “Cambodia’s underlying credit strengths are expected to withstand the impact of recent political tensions and labor ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=MmM0MmU3NmU4MmU
Chinese firm takes over bus service, no bid needed
The Chinese-owned Global (Cambodia) Trade Development company takes over today as Phnom Penh’s new municipal bus operator, although City Hall said Tuesday that the company did not have to go through a bidding process to get the contract. The creation of a permanent public bus system ...
Simon Henderson and Sek Odom
http://www.cambodiadaily.com/news/chinese-firm-takes-over-bus-service-no-bid-needed-53513/
End right to unionize, businesses ask Hun Sen
Prime Minister Hun Sen told business leaders and government officials Tuesday that he will not tolerate “illegal” labor strikes that harm investment, but avoided judgment on a request to withdraw ratification of a U.N. convention protecting workers’ rights to unionize. Speaking at the 17th Government-Private Sector ...
Hul Reaksmey and Alex Willemyns
http://www.cambodiadaily.com/news/end-right-to-unionize-businesses-ask-hun-sen-53516/
Palm oil plantation accused of withholding workers’ pay
More than 20 families working on a controversial palm oil plantation in Ratanakkiri province owned by the Hoang Anh Lumphat company have filed a complaint with rights group Adhoc accusing the owners of improperly withholding one month’s pay. Lor Sophal said he and another 22 families, ...
Aun Pheap
http://www.cambodiadaily.com/news/palm-oil-plantation-accused-of-withholding-workers-pay-53520/
Letting it ride: NagaCorp lifts lid on large-scale expansion
NagaCorp recently announced it would invest $369 million in its latest project opposite the Buddhist Institute. The Hong Kong-listed casino operator’s latest Phnom Penh venture, Naga2,will include a casino, a hotel and a conference hall. The announcement of the investment by NagaCorp, Cambodia’s biggest casino operator, was ...
Siv Meng
http://www.phnompenhpost.com/real-estate/letting-it-ride-nagacorp-lifts-lid-large-scale-expansion
IFC accepts complaint over Ratanakkiri rubber plantations
The International Finance Corporation’s compliance ombudsman has officially accepted a complaint filed by ethnic minority families in Ratanakkiri province against the IFC for investing in rubber plantations accused of stealing land and clearing forests. In a letter sent to the families on Monday, the ombudsman deems ...
Zsombor Peter
http://www.cambodiadaily.com/news/ifc-accepts-complaint-over-ratanakkiri-rubber-plantations-53251/
Kings of concessions
Vietnam and China lead the pack of foreign companies granted economic land concessions in Cambodia for agro-industrial development by a wide margin, new data released by the Ministry of Agriculture, Forestry and Fisheries show. According to the ministry’s annual report, released last month, since 1993 the ...
May Titthara
http://www.phnompenhpost.com/national/kings-concessions
Gov’t criticizes media coverage of strike violence
The high-ranking government officials and global clothing brand representatives who took part in a meeting in Phnom Penh on Wednesday both raised concerns about the media coverage of last month’s lethal repression of a nationwide strike by garment workers and its aftermath. The meeting was called ...
Alex Willemyns And Aun Pheap
http://www.cambodiadaily.com/news/govt-criticizes-media-coverage-of-strike-violence-52979/
Smart acquisition paid off for Malaysian firm
Axiata, the Malaysia-based parent company of Cambodia’s second-largest telecommunications provider, Smart, posted a rise in total revenues for 2013 to $5.5 billion. The boost represents a 4.1 per cent increase from the fourth quarter of the previous year. Driven by its Malaysian, Bangladeshi and Cambodian operations, ...
Eddie Morton
http://www.phnompenhpost.com/business/smart-acquisition-paid-malaysian-firm
Cambodia’s FDI to increase in 2014: Hun Sen
Prime Minister Hun Sen on Tuesday said that the foreign direct investments in Cambodia would increase in 2014, thanks to the country’s favorable and open policies. Hun Sen made the comments during a ceremony to launch Cambodia Trade Integration Strategy at the Peace Palace. ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=ZjI2MzZjOGJkYWF