Investment

A Vietnamese rubber tycoon has rejected accusations by Global Witness, a group that campaigns on resource issues, that it was involved in a land grabbing crisis in Southeast Asia. Doan Nguyen Duc, the chairman of Hoang Anh Gia Lai (HAGL) Group, told Vietnamese media the information ...

On May 13, we ran an interview with London-based NGO Global Witness accusing the Deutsche Bank and the International Finance Corporation of financing two Vietnamese rubber companies that are allegedly involved in land grabs in Cambodia and Laos. We asked both banks for a response ...

Koh Kong province’s mangrove forests have changed from being a source of charcoal to serving tourists who help to protect their biodiversity. The forests have now become a popular destination for Cambodian tourists. Yem Yan, Peam Krasorb commune chief in Koh Kong, said gradually visitors ...

In the wake of a new report from environmental rights group Global Witness rebuking the World Bank’s International Finance Corporation (IFC) and Deutsche Bank for investing in rubber plantations accused of illegal logging and forced evictions, both institutions have denied responsibility and deflected the blame ...

Chief Cambodia Holding, a Hong Kong-based brokerage firm, started its operations in Phnom Penh yesterday. The company aims to strengthen Cambodian agricultural products, a company official said. The company reserved $100 million investment capital to connect domestic agricultural producers to the market, Director of Chief Cambodia ...

Energy Minister Pongsak Ruktapongpisal has given the Electricity Generating Authority of Thailand (Egat) the green light to proceed with a plan to build coal-powered plants in Myanmar and Cambodia – providing Thailand with 10,000 megawatts of electricity. Egat has also been instructed to negotiate the ...

The first three-day Koh Kong Investment and Trade Fair 2013 kicked off on Saturday, promoting trade and investment in the southern provinces of Cambodia with neighbours Thailand and Vietnam. “The [fair] is aimed at promoting trade and development in Koh Kong province and other border ...

The steady growth of franchises from overseas is likely to continue as young, moneyed Cambodians seize the opportunity to bring name brands into the country, a bank official said yesterday. Hoping to help its customers and others invest in franchises, Malaysia-based CIMB Bank yesterday organized ...

Cambodian Confederation of Unions president Rong Chhun yesterday appealed to landlords with properties close to garment factories not to take advantage of the industry’s minimum wage increase by raising rent prices. The minimum monthly salary in the garment sector – Cambodia’s biggest export industry – officially ...

Japanese Bank of Tokyo-Mitsubishi UFJ (BTMU) signed an agreement yesterday with local Canadia Bank to shore up Japanese growth in Cambodia and to demonstrate its confidence in the Kingdom’s financial sector. BTMU’s managing executive officer, Takami Onodera, and Pung Kheav Se, chairman of Canadia Bank, yesterday ...

Delta Electronics (Thailand), one of the world’s leading producers of power supplies and electronic components, plans to expand to Cambodia and Myanmar, the Bangkok Post reported on Wednesday. “There is no indication of a specific timeframe for the expansion, but the company sees these countries . ...

Cambodia Airlines plans to spend $1.5 billion to acquire up to 22 planes, a move that might see the new airline’s eventual fleet size overtake that of national carrier Cambodia Angkor Air. “We [will be] starting to deploy 16 to 22 aircraft immediately once it’s ready ...

Cambodian Prime Minister Hun Sen will visit Macau in September to participate in the Second Global Tourism Economy Forum. Prime Minister Hun Sen called for more investment in the country by Chinese and Macau entrepreneurs, and direct flights between Cambodia and Macau. According to Xinhua, the ...

Bilateral trade between Cambodia and neighbouring Vietnam rose more than 10 per cent year-on-year in the first quarter of this year, data from the Vietnam Embassy in Phnom Penh showed. Officials said cross-border trade facilitation by both countries significantly contributed to the growth. But they said ...

The newly appointed Kompong Thom provincial governor on Tuesday promised more than 500 families who were forcefully evicted by a Vietnamese rubber plantation more than three years ago that they would be given replacement land to farm on early next month. Security forces evicted villagers from ...

Serge Mostura, French Ambassador to Cambodia, said he wanted to boost economic diplomacy between Cambodia and France. Citizens of France visits Cambodia only as tourists or for study, but none have placed investments in the country, so he vows to attract small and medium sized ...

A new air route may connect Macau and Cambodia this year, a move industry experts say would reduce travel costs in the region and reflects tourist interests in both destinations’ gambling industries. Several airlines are in contact with CAM, Macau International Airport Co, “seeking to launch ...

An insurance training centre is being planned in Cambodia to develop local expertise lacking in the Kingdom’s nascent insurance industry. The institute hopes to offer diploma courses to industry leaders here so they in turn will be qualified to provide insurance training to others, such as ...

Chevrolet, one of America’s iconic brand autos, officially launched its first dealership here on Monday, aiming at tapping into the country’s growing market for new vehicles. Martin Apfel, president of the US’ General Motors to Southeast Asia Operations, said at the launching ceremony at the cars’ ...

Booyoung Co., a mid-sized South Korean conglomerate, said Tuesday that it broke ground for one of the largest housing projects in Cambodia, a project Cambodia hopes to spur foreign investments. Booyoung said it will build 40 apartments and seven residential and commercial complexes on 2.7 square ...

A new microfinance institution (MFI), ORO Financecorp Plc, is set to open in Cambodia, according to the director-general of the National Bank of Cambodia (NBC). Cambodia already has 35 registered MFIs, according to a recent report by the Cambodia Microfinance Association (CMA). Last week, the ...

An often flouted and publicly unpopular restriction forbidding Cambodia’s telecoms from offering lucrative mobile phone promotions was scrapped on Sunday, just two weeks after it was introduced. In a letter from the Ministry of Posts and Telecommunications (MPTC), signed by Minister So Khun, it announced a ...

During his speech last week at the swearing-in ceremony of Phnom Penh’s new governor, Pa Socheatvong, Interior Minister Sar Kheng noted that managing Cambodia’s capital is by no means an easy task. While critics of [former Phnom Penh governor] Mr. [Kep] Chuktema note his failure ...

The small but sleek Angkor Car can easily navigate the narrow streets of Cambodia, while with an electric engine saves on expensive fuel costs. It may cost $10,000 per vehicle, a bit steep for most local people, but the vehicle is a welcome testimony to ...