Investment
Investment policy and regulations
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/
Villagers in land dispute are summoned, but not questioned
Five Kompong Chhnang villagers locked in a land dispute with a company owned by the wife of Mines and Energy Minister Suy Sem, who had repeatedly tried—and failed—to file a complaint with their provincial court, were summoned for questioning at the Phnom Penh Municipal Court ...
Kuch Naren
http://www.cambodiadaily.com/news/villagers-in-land-dispute-are-summoned-but-not-questioned-53334/
Garden-view condominium complex a hit with locals and foreigners alike
With the 15-storey Vimean Keo Choronai Condominium close to completion, some 70 per cent of its apartments have already been sold. Vimean Keo Choronai sits in what eventually will be an expansive, leafy garden setting on National Road 1 about 600 metres from Monivong Bridge ...
Post Staff
http://www.phnompenhpost.com/real-estate/garden-view-condominium-complex-hit-locals-and-foreigners-alike
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
‘River town’ project sees budding prospects in sales
Borey River Town, a residential property development around three kilometres northeast of downtown Phnom Penh on National Road 6A has been selling well for the first two months of the year, according to Teng Rithy, the development’s general manager. Rithy said that the rate of sales ...
Moeun Nhean
http://www.phnompenhpost.com/real-estate/%E2%80%98river-town%E2%80%99-project-sees-budding-prospects-sales
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
PAL still pursuing Cambodia venture
PAL Holdings Inc., the operator of flag carrier Philippine Airlines, said Wednesday it will pursue the plan to invest in Cambodia Airlines. The airline operator said in a disclosure to the stock exchange the “ongoing preparations for the completion of the contemplated joint venture agreement between ...
Lailany P. Gomez
http://manilastandardtoday.com/2014/02/13/pal-still-pursuing-cambodia-venture/
Koh Kong dam online since late last year
Cambodia’s largest hydropower plant to date, the Stung Russey Chrum, is operational. The 338-megawatt dam, located in Koh Kong’s Mondul Sima district forest, produced and transmitted electricity to Phnom Penh last month, according to its developer, China Huadian Corporation. “It is the biggest and best dam we ...
Phak Seangly
http://www.phnompenhpost.com/national/koh-kong-dam-online-late-last-year
Construction of Belarus tractor assembly plant in Cambodia nearing completion
The progress in the project to build the Belarus tractor assembly plant in Cambodia was discussed in a meeting between Belarusian Ambassador to Russia Igor Petrishenko and Ambassador of the Kingdom of Cambodia to Russia Thay Vanna, BelTA learnt from the press service of the ...
BelTA News Staff
http://news.belta.by/en/news/econom?id=739642
Not going without a fight
Teng Khorn’s living room is under a tree, his bedroom in a boat hauled up on a slipway for caulking beside the mangroves that lead to his source of income: the sea. His choice of abode is also his act of defiance against the monolithic Chinese ...
May Titthara and David Boyle
http://www.phnompenhpost.com/national/not-going-without-fight
PAL urged not to pursue deal to form Cambodia Airlines
Flag carrier Philippine Airlines (PAL) is said to be better off not pursuing a deal with Royal Group of Cambodia (RGC) to form Cambodia Airlines Co. Ltd., saying there are other “bigger priorities” for the flag carrier. CAPA said the Cambodia-Philippines is a small market, ...
Lenie Lectura
http://www.abs-cbnnews.com/business/02/04/14/pal-urged-not-pursue-deal-form-cambodia-airlines
IMF says Cambodia's strong outlook subject to 'considerable' risks
Cambodia’s strong economic growth and foreign investment are subject to “considerable” downside risks, the International Monetary Fund has warned. A staff report released in Washington late Tuesday said “economic activity remains strong driven by robust exports, with garment exports helped by preferential access to European Union.” At ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=M2FjYzE4NzRmYzQ
No Results in Protest Shooting Investigations
At 10 a.m. on January 3, about 2,000 members of the security forces, mostly military police, advanced down Phnom Penh’s factory-lined Veng Sreng Street, spraying AK-47 assault rifle fire into a crowd of about 100 protesters who had been throwing stones and crude Molotov cocktails. ...
Khuon Narim and Colin Meyn
http://www.cambodiadaily.com/news/no-results-in-protest-shooting-investigations-51325/
Direct Japan flights set to take off later in year: PM
Japan will introduce direct flights to and from Cambodia this year in an effort to bolster trade, investment and tourism between the two nations, Prime Minister Hun Sen said on Friday. Hun Sen announced the plan at a meeting with a delegation led by Hideo ...
May Kunmakara
http://www.phnompenhpost.com/business/direct-japan-flights-set-take-later-year-pm
Made here, owned there
At the end of a well-paved road just past the city’s airport sits a cluster of factories. Each one is barely discernible from the next – grey concrete walls and blue aluminium roofs. But one factory in the lot, MAG (Cambodia), is different. In a country ...
Daniel de Carteret
http://www.phnompenhpost.com/business/made-here-owned-there
One airline is enough: report
Cambodia’s aviation sector doesn’t need a second domestic carrier, according to a new report from the Australia-based Centre for Aviation (CAPA). The report, published yesterday, is the latest instalment in a two-part analysis of the country’s aviation industry, and focuses on Cambodia Airlines, the Royal Group ...
Eddie Morton
http://www.phnompenhpost.com/business/one-airline-enough-report
Poipet to see new economic zone
Japanese investors will put $56 million into a joint venture with local company Sanco Investment Group (SIG) to build a new special economic zone in Banteay Meanchey province’s Poipet town, officials said yesterday. Chhour Vichet, executive director of SIG, said Thailand’s labour shortage, Cambodia’s ongoing political ...
May Kunmakara
http://www.phnompenhpost.com/business/poipet-see-new-economic-zone
Gamble on casino in Pailin looks like a loser
Crippling revenue and poor gamer numbers have prompted Entertainment Gaming Asia (EGA) to consider walking away from its Dreamworld Casino in Pailin province, according to a filing on the NASDAQ exchange on January 21. EGA, owned by Melco International Development, runs Dreamworld Casinos in Pailin and ...
Eddie Morton
http://www.phnompenhpost.com/business/gamble-casino-pailin-looks-loser
Garment IPO to pay for factory
Taiwanese garment factory Grand Twins International (GTI) has carefully laid out a schedule so it can go public on Cambodia’s stock exchange after the dust settles from unrest tied to minimum wage disputes, according to the company’s chief financial controller, Henry Chen. GTI received approval from ...
Eddie Morton and Hor Kimsay
http://www.phnompenhpost.com/business/garment-ipo-pay-factory
ANZ Implicated in Sugar Plantation Evictions
Three NGOs on Wednesday called on ANZ Royal Bank to help the hundreds of families who have lost farmland to a sugar plantation that the bank helped to finance in Kompong Speu province. The NGOs also made public a 2013 social and environmental impact assessment of ...
Zsombor Peter
http://www.cambodiadaily.com/business/anz-implicated-in-sugar-plantation-evictions-50980/