Economy and commerce
Trade
Cambodia's per capita GDP to reach 1,036 USD this year: PM
Cambodia’s per capita GDP was projected to hit 1,036 U.S. dollars in 2013, up from nearly 1,000 U.S. dollars in a year earlier, Prime Minister Hun Sen said Saturday. The premier said the country has enjoyed full peace and political stability in the last 15 ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2013-09/21/c_132737987.htm
Cambodia sees 21 pct rise in garment exports in first 8 months
Cambodia’s garment industry, the kingdom’s largest income maker, recorded 3.65 billion U.S. dollars in export value in the first eight months of the year, up 21 percent from 3.01 billion U.S. dollars over the same period last year, the Ministry of Commerce said Friday. Cambodian ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2013-09/20/c_132736137.htm
US Ambassador Says Corruption Scares Off American Firms
U.S. Ambassador William Todd on Thursday said that despite his efforts to promote Cambodia as an attractive destination for business, major American companies are reluctant to invest here as they still perceive the country as indelibly corrupt. “I believe now is the time for big U.S. ...
Ben Woods and Phorn Bopha
http://www.cambodiadaily.com/business/us-ambassador-says-corruption-scares-off-american-firms-42799/
Norwegian Energy Firm Eltek Demands Mfone Pay Up
Norwegian energy firm Eltek on Thursday demanded $5 million it is owed from bankrupt telecommunications company Mfone by the end of October and blamed the court and the government for stalling payment. During a meeting at Mfone’s headquarters in Phnom Penh’s Boeng Keng Kang III commune, ...
Simon Henderson and Aun Pheap
http://www.cambodiadaily.com/business/norwegian-energy%E2%80%88firm-eltek-demands-mfone-pay-up-42823/
A Year On, Cambodia’s Role as Asean Chairman a Bitter Memory
Resentment is still simmering toward Cambodia for its handling of the contentions South China Sea issue last year, which fractured the unity of Asean, analysts from around the region said Thursday. During the first day of a two-day regional conference in Phnom Penh organized by the ...
Hul Reaksmey and Dene-Hern Chen
http://www.cambodiadaily.com/news/a-year-on-cambodias-role-as-asean-chairman-a-bitter-memory-42812/
First hedging deal transacted
ANZ Royal Bank has transacted a landmark commodities hedging deal with a local oil importer, officials at the bank said yesterday. The deal allows the company, whose name ANZ Royal would not disclose, citing confidentiality agreements, to lock in an agreed price for the future sale ...
Daniel de Carteret
http://www.phnompenhpost.com/business/first-hedging-deal-transacted
Cambodia's rice exports up 107 pct in 8 months
Cambodia has seen a remarkable rise in the exports of milled rice in the first eight months of the year due to increasing demand on international markets, official figures showed Wednesday. The data, from the single window secretariat for facilitating milled rice exports, recorded that the ...
Xinhuanet News Staf
http://news.xinhuanet.com/english/world/2013-09/18/c_132731824.htm
Cambodia, US Extend Artifacts Trade Agreement
Cambodia and the U.S. have signed an extension to a memorandum of understanding (MoU) that imposes strict import restrictions on artifacts dating from the Bronze Age to the end of the Angkor Empire. Hab Touch, director-general for tangible heritage at the Ministry of Culture and ...
Simon Henderson
https://cambodia.opendevelopmentmekong.net/wp-admin/post.php?post=34061&action=edit&message=1
EU Under Fire for Policy Linked to Land Grabbing in Cambodia
KAMPONG SPEU PROVINCE— Three years ago, Pao had a farm and a charcoal stove near a stream in a community called Omlaing in western Cambodia. The farm gave her rice, charcoal sales gave her extra income and the nearby forest provided edible and medicinal plants. Pao ...
The Irrawaddy News Magazine Staff
http://www.irrawaddy.org/archives/44202
Cambodia reports 1.41 bln USD trade deficit in first eight months
Cambodia has witnessed a trade deficit of 1.41 billion U.S. dollars in the first eight months of the year, according to figures from the Ministry of Commerce on Monday. The country’s total import and export volume was valued at 10.45 billion U.S. dollars during the January-August ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2013-09/16/c_132725537.htm
Deal sends milled rice to Chinese
State-owned Green Trade Company has signed an agreement with China’s Shandong Meijing Rice Co Ltd to export 100,000 tonnes of Cambodia’s milled rice. The deal was signed between Chinese and Cambodian officials on September 4 at the China-ASEAN summit in the southwest Chinese city of Nanning, ...
May Kunmakara
http://www.phnompenhpost.com/business/deal-sends-milled-rice-chinese
Economy Should Do Well, Despite China Slowdown: Experts
Although China has undergone an unprecedented economic slowdown, Chinese and Cambodian officials believe it will not seriously affect Cambodia’s economy. Over the past nine months, China’s GDP grew slightly above 7 percent, its slowest pace in 13 years, and some economists expect poor performance for the ...
Khoun Theara
http://www.voacambodia.com/content/economy-should-do-well-despite-china-slowdown-experts-cambodia-khmer/1748785.html
Tata moves in on agriculture
India-based Tata International Ltd announced yesterday that it would import and distribute its Farmtrac Tractors in Cambodia to profit from the country’s growing agricultural sector. Speaking at the launching ceremony at the Koh Pich exhibition centre, Jitendra Manghinani, country manager of Tata South East Asia (Cambodia), ...
Hor Kimsay
http://www.phnompenhpost.com/business/tata-moves-agriculture
OZ takes Renaissance scrip for cash
OZ Minerals has emerged with 16 per cent of Cambodia-focused Renaissance Minerals after agreeing to push back a deal that could have forced the gold explorer to stump up a $10 million payment on its Okvau deposit in the South-East Asian nation. Renaissance’s purchase of the ...
The West Australian News Staff
http://au.news.yahoo.com/thewest/business/a/-/wa/18874668/oz-takes-renaissance-scrip-for-cash/
Damage control for Dumex
While New Zealand dairy giant Fonterra is working overtime to restore its damaged brand in the wake of a contaminated baby milk scare that triggered a global recall, local distributors whose products included the suspect ingredient are defending their own reputations. Local supplier Dumex Cambodia ...
Daniel de Carteret
http://www.phnompenhpost.com/business/damage-control-dumex
Newspaper threatened over child labour story
A Thai-owned sugar company has threatened legal action against a newspaper that ran a story and video depicting the use of child labour at its Koh Kong province plantation, but advocates on the ground there say the children are indeed used as employees. The Bangkok Post yesterday reported ...
Sean Teehan and Cheang Sokha
http://www.phnompenhpost.com/national/newspaper-threatened-over-child-labour-story
SBC Bank Signs JCB Card Issuance MOU in Cambodia
Singapore Banking Corporation Ltd. (SBC Bank), a leading commercial bank in Cambodia, signed a memorandum of understanding with JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB, for the issuance of JCB cards in Cambodia. A ceremony to commemorate the milestone moment was held ...
The Cambodia Herald
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=YWI4OTU3NmNkYmR#sthash.uvnJElMQ.dpuf
Organic rice exports rise in first half
Responding to growing demand in US and EU markets, organic rice exports have surged, reaching 200 tonnes in the first six months of this year, compared with 100 tonnes for all of last year. Exports of organic rice are meagre compared with other varieties, such ...
Rann Reuy
http://www.phnompenhpost.com/business/organic-rice-exports-rise-first-half
Water Authority Share Price Hits New Low
The usually static share price of the Phnom Penh Water Supply Authority (PPWSA), still the only company listed on the Cambodia Securities Exchange (CSX), fell Monday to its lowest price since it began trading more than two years ago. At the close of business Monday, the ...
Hul Reaksmey
http://www.cambodiadaily.com/business/water-authority-share-price-hits%E2%80%88new-low-42002/
Software giant targets piracy
Microsoft Cambodia has appointed Thakral Cambodia Industries Limited as its second authorised software distributor in the country, a move intended to help the computer giant’s local operation combat the rampant use of pirated software. Thakral, one of the largest distributors of IT products in Cambodia (its ...
Anne Renzenbrink
http://www.phnompenhpost.com/business/software-giant-targets-piracy
Sales of large home appliances rise 20 pct
Cambodian consumer spending on major domestic appliances such as air conditioners, refrigerators, washing machines and microwave ovens, saw a roughly 22 per cent year-on-year increase over the first six months of 2013, according to Germany-based research institute GfK. The rise comes alongside a 20 per cent ...
Anne Renzenbrink
http://www.phnompenhpost.com/business/sales-large-home-appliances-rise-20-pct
Cambodia-U.S. Bilateral Trade Increases
In the first seven months of this year, the bilateral trade between Cambodia and the U.S. has reached some US$1.7 billion, up by 3.5 percent if compared to the same period in the previous year, according to the U.S. Trade Department’s figures. ...
Kubota enters Cambodia
Siam Kubota Corporation (SKC), a leading farm truck maker, has partnered with Group Lease to enter the agriculture machine market in Cambodia. Mitsuji Konoshita, chief executive of Group Lease, said the partnership with SKC is a bid to extend leasing service to Kubota’s clients in ...
Nuntawun Polkuamdee
http://www.bangkokpost.com/news/asia/368267/kubota-enters-cambodia
Troubling contrasts in ASEAN
Some of these ASEAN economies are not like the others. Singapore is 80 times richer than Myanmar and its population lives 20 years longer than Cambodia’s, while Myanmar ranks 50 places behind Cambodia in terms of global competitiveness, according to a wide-ranging analysis from the World ...
Joe Freeman
http://www.phnompenhpost.com/business/troubling-contrasts-asean