Industries
Opposition urges China checks
Prime Minister Hun Sen has called investors from China’s Anhui province to invest in numerous sectors across Cambodia in an effort to spur two-way trade between the Kingdom and China in order accomplish their joint target of US$5 billion in trade by 2015. Meanwhile, Cambodia’s opposition party ...
http://www.phnompenhpost.com/index.php/2012081758136/Business/opposition-urges-china-checks.html
Tourism Sector Faces Dearth of Skilled Labor
With the number of tourists visiting the country increasing rapidly, hotels are coming under strain due to lack of skilled chefs and waiters in the industry, according to hotel managers. In the first six months of 2012, international visitors reached 1.75 million, a 26.8 percent ...
Monitors Question Casino Building New Election Body Office
Election monitoring groups are questioning the National Election Committee (NEC) recent decision to let a Phnom Penh casino fund its new multi-million dollar headquarters, a move they said would cast further doubt on the body’s independence. NagaCorp, the owner of Phnom Penh’s only licensed casino, NagaWorld, ...
Preah Vihear to get new border crossing
The Cambodian government is seeking a new international border checkpoint in Preah Vihear province to link with Thailand’s Ubun province, officials say. Preah Vihear provincial governor Um Mara said officials from both countries had met to examine the possibility of opening a new international checkpoint. There ...
NagaWorld Profits Jump in First Half of 2012
Net profits at NagaCorp Ltd., owners of Phnom Penh’s only licensed casino, jumped 38 percent to reach $52.4 million in the first half of 2012 compared to the same period last year, the company said in its most recent financial report. The casino generated a total ...
Increase in tourists equals more operators
The number of tour operators registered with Ministry of Tourism increased by more than 10 per cent in the first half of this year compared to last year due to an upswing in the number of tourists visiting the Kingdom, insiders say. Figures from the tourism ministry showed ...
Approved investment drops
Latest figures show the total value of approved investment in the Kingdom declined by more than 70 per cent in the first half of this year compared to the equivalent period a year before. Economists and officials are unconcerned, however, saying that some big projects during ...
http://www.phnompenhpost.com/index.php/2012081457967/Business/big-dip-in-approved-investments.html
Eating locally
The Cambodian governemnt is lobbying the tourism sector to focus more on using local foods, which it says could generate millions of dollars in revenue a year. But hotels and restaurants say quality standards and supplies of local products are often not adequate and businesses ...
Handicraft handicap
While Cambodian handicrafts such as silk clothing, stone and wood carvings and rattan furniture are popular with tourists, who snap up the articles at gift shops and airports, the size of the sector is nowhere near what it might be, according to industry insiders. They ...
Asean invests $178 Million in Cambodia for the first semester of 2012
Cambodia has gained the investments of 178 million U.S. dollars from its ASEAN member states in the first six months of 2012, according to a report from the Council for the Development of Cambodia said this week. From January to June this year, the country granted ...
Gaming Company Posts Record Quarter of $5.2M
Entertainment Gaming Asia Inc. (EGA), which owns a number of casinos in Cambodia, as well as provides gaming machines to other local gambling venues, announced on Tuesday that quarterly revenues from April through June reached a record $5.2 million, up 14 percent compared to the ...
Fees too high: AirAsia CEO
While AirAsia, one of the world’s largest low-cost airline, is gearing toward an expansion in the region, the company’s chief executive said that serving Cambodia was expensive due to high airport fees. Airport charges are high and restrictive, as are over-flight fees, compared to other countries in ...
China firm proposes $6.5bn deal
Chinese firms have huge ambitions for Cambodia, with a second firm this week proposing three projects worth an estimated US$6.5 billion to the National Assembly yesterday, but no deadlines were set for the implementation of the projects, according to officials. Pan Xiaoping, chairman of Ruijin Investment Holding Ltd, ...
http://www.phnompenhpost.com/index.php/2012080957898/Business/china-firm-proposes-65bn-deal.html
Chinese firm plans investment in Cambodia
PHNOM PENH — China’s Hainan Ruijin Investment Holding Group planned to invest in rice plantation, cow farm and tourism development in Cambodia, the group’s chairman Pan Xiaoping said Wednesday. Pan said during a meeting with Heng Samrin, president of Cambodia’s National Assembly that his company decided ...
http://usa.chinadaily.com.cn/business/2012-08/08/content_15652505.htm
Phnom Penh Land Prices Slow Growth
Property prices in Phnom Penh increased by about 15 percent at the end of June compared to the same period in 2011 , according to data released yesterday by local realty firm Asia Real Estate Cambodia (ARC). The average price of commercial property in Phnom Penh ...
Chinese firm plans investment in Cambodia
PHNOM PENH — China’s Hainan Ruijin Investment Holding Group planned to invest in rice plantation, cow farm and tourism development in Cambodia, the group’s chairman Pan Xiaoping said Wednesday. Pan said during a meeting with Heng Samrin, president of Cambodia’s National Assembly that his company decided to establish an overseas branch office in Cambodia to focus on the threeprojects. Pan did not say when the projects will be started. Heng Samrin pledged full support for those projects, which he said will be good to boost thedevelopment of Cambodia’s economy. “Foreign investment is a key factor to accelerate economic development in Cambodia,” he said. ...
http://www.chinadaily.com.cn/business/2012-08/08/content_15652416.htm
Asian tourist numbers up, profits stagnant
The growth in international tourists visiting Cambodia is almost 27 per cent that of the numbers seen during the first six months of 2011, according to tourism officials who are predicting that the growth may be 25 per cent at the end of this year. Visitors ...
No Cause for Concern - Experts not worried about decrease in fixed-asset investment
At first glance, the numbers indicate Cambodia’s investment climate has grown a little colder. Conditions appear to be worse than they were a year ago due to a big drop in total fixed assets for approved investment projects. However, economists say the Cambodia outlook is actually ...
Rep wrongfully fired from airport: union
The Cambodian Tourism and Service Worker’s Federation (CTSWF) is asking Minister of Labour Vong Sauth to intervene in the case of one union worker fired from a Phnom Penh International Airport company with no reason offered. Nin Kosal, who worked as union secretary for the Cambodia ...
Cambodia: Is Adidas exploiting workers?
Am Phalla sits outside the factory gates of apparel maker Shen Zhou (Cambodia) Co. Ltd., sharing a lunch of rice, vegetables and fried fish with coworkers. She has been sewing clothes at Shen Zhou for a little less than a year, but is unaware that the ...
Officials pitch invesment from Thais
Cambodia’s top economy builders are looking to bring back Thai investment that has departed the country since the onset of political clashes involving Preah Vihear temple in northern Cambodia. Officials at the Council for the Development of Cambodia (CDC) yesterday hosted 30 delegates from the Thai ...
Indian envoy seeks direct flights to Cambodia
India’s Ambassador Dinesh K. Patnaik pledged Tuesday to urge Indian airlines to operate direct flights to Cambodia in order to boost bilateral relations in trade, investment and tourism. ...
http://in.news.yahoo.com/indian-envoy-seeks-direct-flights-cambodia-061659956.html
Phnom Penh's new apartments soar on high rents
Real estate developments covered in green tarp have sprung up across the capital’s Boeung Kang Kong commune, and housing units are filling before the projects are finished, insiders said. The value of construction approvals in Phnom Penh jumped by 557.5 per cent in March to US$150.5 ...
Number of Condominiums Grows in Phnom Penh
The number of condominiums in Phnom Penh has increased 22 percent to 2,578 units since the beginning of the year, according to data released yesterday by Asia Real Estate Cambodia. The firm said that the majority of the new units came from the completion of 10 ...