Economy and commerce
Investment
Workers’ strike delayed, rescheduled for post-Khmer New Year
Labor unions and associations have suspended their strike plan scheduled for March 12 following the request by garment workers, according to a union leader. The suspension came after the meeting between the union leaders from a coalition of 18 labor unions and associations today. The unionists ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=NmU5MTVjY2ExZTQ
Business employers say corruption greatest threat to economy
Corruption remains the most significant challenge facing Cambodia’s economy, according to a survey of more than 300 employers conducted last year by the International Labor Organization (ILO), the results of which were released Tuesday. Despite legislation meant to stamp out graft, corruption continues to be perceived ...
Colin Meyn
http://www.cambodiadaily.com/news/business-employers-say-corruption-greatest-threat-to-economy-53963/
DVD shops close before raid
A handful of stores in Phnom Penh’s City Mall closed up shop yesterday morning, draping large curtains over their storefronts rather than face an impending police raid on businesses allegedly selling pirated movies there, police and other vendors said. The aborted raid came less than two ...
Sen David and Stuart White
http://www.phnompenhpost.com/national/dvd-shops-close-raid
Firm begins process to determine IPO share price
Grand Twins International (Cambodia) Plc., a manufacturer of clothes for U.S. athletic brands, on Monday will begin recording investor demands to determine the price for an initial public offering (IPO) as part of the last steps to list on the Cambodian Stock Exchange (CSX), though ...
Joshua Wilwohl
http://www.cambodiadaily.com/business/firm-begins-process-to-determine-ipo-share-price-53869/
Taiwan's bike makers shrug off challenge from Cambodia
Giant Bicycles founder and chairman King Liu said on March 5 that Taiwan’s bicycle manufacturers are still competitive, despite the challenge from Cambodian competitors becoming stronger due to the country’s favorable tax policy. Bicycles exports from Taiwan were down 11.49% year-on-year in 2013, while exports ...
Want China Times News Staff
http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20140311000004&cid=1206
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
Dreamworld operator sees revenue drop
Entertainment Gaming Asia (EGA), which operates casinos and slot machines in Cambodia and the Philippines, recorded a 9 percent drop in revenue last year compared to 2012, from $26.8 million to $24.3 million, according to the company’s annual report. EGA operates casinos in Pailin and Poipet ...
Simon Henderson
http://www.cambodiadaily.com/business/dreamworld-operator-sees-revenue-drop-53867/
ILO, Camfeba outline ways to improve investment climate
The International Labor Organization said it would launch on Wednesday two reports outlining ways to improve the investment climate in Cambodia. The first report, by the ILO, analyses Cambodia’s performance in 17 areas and contains a national survey of workers and employers. Key areas include ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=YzJiMjE2YzkzYTA
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/
Royal Group denies report that Cellcard seeks investor
Royal Group executives, owners of Cambodia’s leading mobile phone operator Cellcard, vigorously denied the veracity of a London-based media report on Friday that claimed the phone company is looking for investors and wants to sell off its telecommunications towers because it is unable to raise ...
Joshua Wilwohl
http://www.cambodiadaily.com/business/royal-group-denies-report-that-cellcard-seeks-investor-53741/
Registration of SMEs given to new Handicrafts Ministry
Prime Minister Hun Sen on Tuesday provided an indication of the role that will be played by the new Ministry of Industry and Handicrafts, which was created late last year, announcing it will hold the sole responsibility for registering small and medium enterprises (SMEs). The government ...
Hul Reaksmey and Alex Devine
http://www.cambodiadaily.com/news/registration-of-smes-given-to-new-handicrafts-ministry-53683/
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
Thmey Thmey to hit airwaves, be published in Japanese, French
Thmey Thmey online news and Women’s Radio FM 102 on Thursday announced a partnership that will see journalists from both outlets join forces to create evening news bulletins to be broadcast daily starting Saturday. “Our concept is independent Cambodian news, by Cambodians, for Cambodians, and 102 ...
Matt Blomberg and Ben Sokhean
http://www.cambodiadaily.com/news/thmey-thmey-to-hit-airwaves-be-published-in-japanese-french-53685/
Union reps must prove clean criminal records
The government now requires union leaders to prove that they have no criminal record before registering new branches of their organization, according to a statement from the Ministry of Labor, a decision that comes less than a week before planned nationwide strikes in the garment ...
Khy Sovuthy and Colin Meyn
http://www.cambodiadaily.com/news/union-reps-must-prove-clean-criminal-records-53668/
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
City bus operation awarded on basis of ‘verbal’ contract
The Chinese-owned company that began operating Phnom Penh’s new public bus service Wednesday secured its five-year deal on the basis of a verbal agreement and has not yet signed a formal contract with City Hall, the company’s CEO said. Lim Andre, the CEO of Global (Cambodia) ...
Simon Henderson and Hul Reaksmey
http://www.cambodiadaily.com/news/city-bus-operation-awarded-on-basis-of-verbal-contract-53627/
Verde forges rare earth partnerships with Cambodian, Vietnamese mining companies
Nevada-based Verde Resources Inc says it has signed memoranda of understanding with Cambodia’s Black Stallion Mining Group Ltd and Vietnam’s Phu Duc Mineral Joint Stock Company to prospect for and develop rare earth resources. In a statement released in Malaysia late Tuesday, Verde Resources said the ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=MjQ1ZWIzZmY5ZWY
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/
Japan’s small, medium companies see business opportunity in Cambodia
Many small and medium companies of Japan are showing their interest in doing business in Cambodia, according to an assistant of Prime Minister Hun Sen. 99 percent of Japanese small and medium companies are interested in investing in Asia, especially in Cambodia, which is located ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=ZmRkYzBiYWVjZWR