Investment

State-owned Telecom Cambodia has signed a business cooperation agreement with Vietnam National Post and Telecommunications Corp in order to bolster TC’s product portfolio and coverage area, company officials said yesterday. Telecom Cambodia offers both fixed-line phone and internet services in the Kingdom. Vietnam National Post and ...

The number of mobile phone subscribers in Cambodia increased to 14 million, or 98 percent of the country’s population, during the first 11 months of the year, the minister of Posts and Telecommunications said yesterday. So Khun said Metfone, which is owned by the Vietnamese military, ...

Vietnam’s Military Commercial Joint-Stock Bank (MB Bank) will open its doors in Phnom Penh today, becoming the fourth Vietnamese bank to set up operations here and bringing the total number of commercial banks in Cambodia to 31. Nguon Sokha, general director of the National Bank of ...

Investment approved between January and October surpassed those last year by  US$160 million, according to a report from the Council for the Development of Cambodia. The 126 local and foreign investment projects through October, worth about $6 billion, overshadowed the $5.8 billion in the whole of ...

Military police in Battambang province shot three villagers in the legs during a confrontation between local farmers and a private company that was granted a land concession, a police official said. Phnom Penh district police chief Song Sopheak said employees of Suon Neang Sambath company, a ...

Despite recent protests by affected businessmen, the government last week began the removal of fishing nets in seven fishing lots in three provinces following alleged corruption during the bidding process for the lots. Prime Minister Hun Sen recently ordered the annulment of the results of an ...

Fifteen foreign investments worth $344 million were approved by the government’s investment board in October, most of which were in the garment industry, according to data obtained this week ...

Prime Minister Hun Sen will officially open the Chinese-made Kamchay dam in Kampot province today, the largest hydropower dam to date to operate in Cambodia and capable of supplying an extra 193.2 megawatts of energy. Environmental and human rights groups yesterday criticized the dam’s builder and ...

More than 250 villagers blocked National Road 48 yesterday in Koh Kong province while protesting against their eviction from their Kiri Sakor district homes, slowing traffic for more than eight hours, officials said Prom Sann, a representative for the villagers, said the protesters represented 250 families ...

An ethanol plant planned for Cambodia’s Banteay Meanchey province would push local production of the crop, as well as decreased reliance on foreign markets, officials and cassava farmers said yesterday. Construction on the joint venture between a Chinese firm and Cambodia’s National Company for Development will ...

The owner of a fishing lot in Kampong Cham province, whose bid for his lot was cancelled more than a week ago, has been attempting to keep villagers from fishing the area he previously laid claim to by destroying their equipment and sinking their boats. On ...

Officials were mum yesterday about the proposed construction of an oil refinery by a Chinese firm in Preah Sihanouk and Kampot provinces, and provincial authorities said the company had not yet been granted any land for the proposed project. Ter Chimnarith, deputy director of Kampot province’s ...

Hundreds of people whose land has been swallowed by a giant Chinese tourism project on the coast of Koh Kong province will attempt to demonstrate their grievances today by blocking national roads 4 and 48, villagers and human rights workers said Protesters have been resisting China’s ...

The Asian Development Bank (ADB) has not made public the last two quarterly reports on the impact of resettling families who are being evicted for a $142 million railway rehabilitation project. The reports, which are required under an ADM loan agreement with the government, haven’t been ...

Construction on a US$2 billion oil refining plant, the Kingdom’s first, will start in April, according to officials close to the project. The plant, which will be built on 365 hectares across Kampot and Sihanoukville provinces and is expected to be completed in 2014, is a ...

More than 100 workers from Cambo Handsome One garment factory gathered outside the home of Prime Minister Hun Sen on Friday and Saturday, after urging him on Thursday to intervene in a dispute with the factory’s Korean owners. The move followed an appeal to the Ministry ...

Dragon Capital, a Vietnam-based private equity firm, has announced that it is planning to launch a fund in Cambodia next year, the second such fund to be announced by a Vietnamese company this year. The firm’s CEO, Dominic Scriven, said that the initial fund would close ...

Improved fiscal management and preparation for a decline in foreign aid would help increase Cambodia’s credit rating, according to a quarterly credit opinion from Moody’s Investor Service, which maintained a stable outlook for the country. Reduced exposure to crisis and stagnation in Western economies, continued foreign ...

Government officials sent conflicting messages yesterday over how they would handle the complaints of about 50 businessmen from Kompong Cham province who continued to protest at the Fisheries Administration over Prime Minister Hun Sen’s decision to cancel their bids to operate fishing lots. Por Try, secretary ...

About 60 businessmen from Kompong Cham province protested at the Agriculture Ministry yesterday over Prime Minister Hun Sen’s decision to cancel their bids to operate fishing lots. Mr Hun Sen on Friday annulled the results of an October bidding process for companies interested in operating fishing lots ...

Cambodia aimed to become one of the region’s main rubber producers over the next few years despite the industry’s low international recognition, officials said during the second Global Rubber Conference, held in Phnom Penh on Friday. To that end, the Kingdom had encouraged companies and investors ...

On a night when some of France’s finest wines were consumed by some of Cambodia’s most senior officials, the message was clear: France wants to strengthen its economic ties with Cambodia. On Wednesday night, the French-Cambodian Chamber of Commerce (CCFC) put on a lavish display of ...

The Ministry of Land Management and Urban Planning announced yesterday that it will soon complete a new draft sub-decree that aims to guide and regulate urban development in towns and cities. Land and human rights groups, however, criticized the ministry for failing to consult them on ...

A Japan energy company yesterday said it planned to build a rice mill fuelled by rice husks in Cambodia’s Takeo province. New Energy and Industrial Technology Development Organization yesterday signed a memorandum of understanding with the Kingdom’s Ministry of Industry, Mines and Energy (MIME) confirming cooperation ...