Economy and commerce
Investment
Herbalife Promises Cambodians Health, Wealth
The offices of Herbalife, a so-called multilevel marketing company that has moved into the protein powder market in Cambodia, stand like a beacon of promise in Phnom Penh’s Prampi Makara district: Six stories of glass and white paneling, crisp lime-green signage and a four-story-high banner ...
Matt Blomberg
http://www.cambodiadaily.com/news/herbalife-promises-cambodians-health-wealth-48828/
Avis pulling into town
International car rental operator Avis is bringing its brand to Cambodia and Laos, according to a statement released last week from local licensee RMA Group. If the deal is seen through, Avis would be the first global car rental company to compete in the Kingdom. The company ...
Eddie Morton
http://www.phnompenhpost.com/business/avis-pulling-town
High hopes for fishing season
The largest fish harvest of the year is approaching, and Phnom Penh’s fish markets are about to get busy. In short, it’s December and so prahok season is upon us. A traditional Cambodian fish paste, prahok is made from fermented Siamese mud carp called trey riel in ...
Chan Muy Hong
http://www.phnompenhpost.com/business/high-hopes-fishing-season
UD Trucks to arrive in Kingdom
Japan-based UD Trucks Corporation is planning on selling its new heavy duty transport vehicle, the 2013 UD Quester, in Cambodia. Volvo Group-owned UD Trucks also launched the latest versions of the UD Quon, UD Fuel Demonstrator, UD Quester and Volvo FH at the Tokyo Motor Show ...
Chhim Sreyneang
http://www.phnompenhpost.com/business/ud-trucks-arrive-kingdom
Chinese TV station to launch
Cambodia could soon get its first Chinese-run digital television station, the latest local project hailing from a country that represents one of the Kingdom’s largest foreign investors. Yu Hua, deputy director of Yunnan Mobile Digital TV Corporation, based in China’s Yunnan province, met with Cambodia’s Minister ...
Eddie Morton
http://www.phnompenhpost.com/national/chinese-tv-station-launch
Aspara International's China flights delayed
The launch of a new airline promising regular flights between Phnom Penh and China has been stalled, awaiting government approval. Apsara International Air – co-owned by Chinese and Cambodian investors – now plans to begin operations sometime in 2014 as talks between the airline and the ...
May Kunmakara
http://www.phnompenhpost.com/business/aspara-internationals-china-flights-delayed
Brighton to buy Indonesia manganese, Cambodia gold projects
ASX-listed junior Brighton Mining Group on Wednesday announced that it would buy two unlisted companies to gain control of high-grade manganese project in Indonesia, and gold projects in Cambodia. Brighton Mining holds a 70% shareholding in Summer Gold Investments, which holds two mineral concession areas ...
Creamer Media's Mining Weekly News Staff
http://www.miningweekly.com/article/brighton-to-buy-indonesia-manganese-cambodia-gold-projects-2013-12-04
Bank exits rubber firm: NGO
Global Witness, a United Kingdom-based NGO, has alleged that Deutsche Bank has dropped the majority of its holdings in a Vietnamese company that operates rubber plantations in Cambodia, amid accusations the firm is involved in land grabbing and illegal logging. In a statement released today, Global ...
Shane Worrell
http://www.phnompenhpost.com/national/bank-exits-rubber-firm-ngo
IMF Reiterates 7 Percent Growth Prediction for Cambodia
The head of the International Monetary Fund (IMF), Christine Lagarde, has reaffirmed an earlier prediction that Cambodia will grow 7 percent this year, in an interview published today by The Post newspaper. Lagarde praised the country’s economic outlook, although she acknowledged that it will face challenges, ...
Prensa Latina News Staff
http://www.plenglish.com/index.php?option=com_content&task=view&id=2140481&Itemid=1
China's Taiwanese bank looks into Cambodian financial sector
The Shanghai Commercial & Saving Bank (SCSB), one of the leading banks in China’s Taiwanese region, opened a representative office here on Monday thanks to increasing interest in Cambodia by Taiwanese business people, a bank official said. To date, Cambodia has six foreign banks’ representative ...
Global Times News Staff
http://www.globaltimes.cn/content/829199.shtml#.Up2E2cQW2Dt
Challenging business for startups
The World Bank recently ranked Cambodia 184th out of 189 countries for ease of starting a business, but you wouldn’t have known it at Phnom Penh’s recent Startup Weekend. Pitches for Cambodia’s first commercial organic chicken farm and for an app to connect tuk-tuk drivers to ...
Justine Drennan
http://www.phnompenhpost.com/business/challenging-business-startups
Smart Mobile Sees 36% Revenue Growth
Malaysian telecommunications company Axiata Group Berhad reported Wednesday that its Cambodian brand Smart has seen strong growth in the first nine months of the year, with revenue increasing by 36 percent compared with the same period last year. In its third quarter financial report, Axiata said ...
George Styllis
http://www.cambodiadaily.com/business/smart-mobile-sees-36-revenue-growth-48215/
Putting parking reform in gear
With civil society, the opposition and even the ruling party talking more and more about the subject of electoral and judicial reforms in the wake of July’s contested national elections, some groups yesterday gathered to call for reforms in a more modest sector – parking ...
Chhay Channyda
http://www.phnompenhpost.com/national/putting-parking-reform-gear
DENSO, Toyota Tsusho and Aisin Seiki to Open Wholly-Owned Automotive After-Sales Service Store in Cambodia- Will offer high-quality automotive after-Sales services in emerging economies
DENSO Corporation , Toyota Tsusho Corporation and Aisin Seiki Co., Ltd., will jointly open a wholly-owned store in Cambodia that will offer automotive repair and maintenance services, as well as sell related automotive components. The wholly-owned store will start operations in February 2014 with the ...
Hispanic Business News Staff
http://www.hispanicbusiness.com/2013/11/28/denso_toyota_tsusho_and_aisin_seiki.htm
Cambodia 'Still in Block A talks with Chevron'
The Royal Cambodian government is continuing talks with US major Chevron regarding the delayed Block A offshore project that would be the Asean member nation’s first indigenous hydrocarbon development. In August 2010, eight years after being awarded the block, Chevron issued a declaration of commerciality and ...
Upstream Online Staff
http://www.upstreamonline.com/live/article1345016.ece
Cambodia's trade with China's Hong Kong up 19 pct in 9 months
Trade between Cambodia and China’s Hong Kong Special Administrative Region has seen a 19- percent growth in the first nine months of the year thanks to robust bilateral trade ties, Benjamin Chau, deputy executive director of the Hong Kong Trade Development Council, said here Wednesday. ...
Asean-China-Center News Staff
http://www.asean-china-center.org/english/2013-11/28/c_132926075.htm
Mfone Files Complaint With Court
The administrator charged with liquidating bankrupt mobile operator Mfone filed a complaint Tuesday with the Phnom Penh Municipal Court, requesting it to order two companies to pay money owed to Mfone after repayment negotiations apparently failed, the administrator said. Mobile payment service WING Cambodia Co. Ltd. ...
Aun Pheap and Joshua Wilwohl
http://www.cambodiadaily.com/business/mfone-files-complaint-with-court-47959/
Labor Ministry Says Brands Hold Key to Wages
The minimum wage for garment factory workers can only be raised if international clothing brands sourcing from Cambodia pay more for their products, a Ministry of Labor official said Tuesday. Khieu Savuth, chief of the Ministry of Labor’s labor conflict commission, laid down the challenge a ...
Dene-Hern Chen and Aun Pheap
http://www.cambodiadaily.com/business/labor-ministry-says-brands-hold-key-to-wages-47966/
Land Rover, Jaguar enter Cambodia
Following the recent wave of luxury car brands entering the Cambodian market, RMA Cambodia’s CEO said yesterday that the firm will bring in UK brands Land Rover and Jaguar by opening a showroom before the end of the year. The newly appointed official authorised dealer will ...
Anne Renzenbrink
http://www.phnompenhpost.com/business/land-rover-jaguar-enter-cambodia
PPSEZ signs MoU with Tokyo bank
Tokyo-based Sumitomo Mitsui Banking Corporation (SMBC) has signed a memorandum of understanding with the Phnom Penh Special Economic Zone (PPSEZ) to help support Japanese investment in Cambodia. The MoU was signed by SMBC President and CEO Takeshi Kunibe and PPSEZ Chairwoman Lim Chhiv Ho earlier this ...
May Kunmakara
http://www.phnompenhpost.com/business/ppsez-signs-mou-tokyo-bank
H&M pledges living wage for textile workers in Bangladesh and Cambodia
H&M has pledged to pay a living wage to 850,000 textile workers after expressing frustration over a lack of action by governments to address working conditions in Asian factories in the wake of the Rana Plaza disaster. The world’s second-biggest clothing retailer said it would support ...
Sean Farrell
http://www.theguardian.com/business/2013/nov/25/h-m-living-wage-textile-workers-bangladesh-cambodia
Salt farmers fear little output due to rainfall
As salt farmers in Kep and Kampot provinces prepare for the upcoming salt season, they have expressed concerns that unstable weather conditions could cause a supply shortage on the growing domestic market. Salt production in Cambodia usually starts in early January and ends in late ...
Chan Muy Hong
http://www.phnompenhpost.com/business/salt-farmers-fear-little-output-due-rainfall
Snake Island plans back to the drawing board
A development company with a government concession for a high-end property project on the island of Koh Pos, also known as Snake Island, has announced that it will significantly alter its original plans for the project. The new plan, which must first be submitted for ...
Siv Meng
http://www.phnompenhpost.com/real-estate/snake-island-plans-back-drawing-board
Vietnamese market planned
Cambodia’s first Vietnamese wholesale market is being constructed in Phnom Penh, a Vietnamese trade officer told the Post yesterday. Tran Tu, trade attaché of the Vietnam Trade Office in Cambodia, said the new wholesale market seeks to enhance Vietnamese produce in Cambodia. The wholesale market, will be located ...
May Kunmakara
http://www.phnompenhpost.com/business/vietnamese-market-planned