Economy and commerce

On April 19, the 24th World Economic Forum on East Asia kicked off in the Indonesian capital of Jakarta. One of the main events was a conversation on “East Asia in the New Global Context,” which featured two heads of state – Cambodian prime minister ...

Cambodia’s economy is expected to benefit from a strong recovery in the US markets and the fall of global oil prices, driving its high growth trend, according to the International Monetary Fund’s projection for the Asia-Pacific region. ...

The number of tourists travelling during the three-day Khmer New Year festivities saw a dramatic increase this year, with the largest attraction – Angkor Sangkran in Siem Reap – hosting more than a million visitors last week. ...

The World Bank said last week that Cambodia will likely graduate to a lower-middle-income nation in 2015, on the back of sustained poverty alleviation, stable economic growth and progress made on reducing inequality between the rich and poor. ...

Cambodia set yet another Guinness World Record on Wednesday—its second in three days—when 2,015 people participated in a synchronized line dance during the Angkor Sankranta New Year festival in Siem Reap City. ...

A Guinness World Records judge kicked this year’s Angkor Sankranta festival into action Monday by officially declaring a 4-ton sticky rice cake produced for the Khmer New Year celebration to be the largest ever made. ...

Cambodia Bayon Airlines made its inaugural flight to Sihanoukville on Sunday, more than three months after the Chinese airline opened a daily route between Phnom Penh and Siem Reap City. ...

The World Bank is forecasting a continued slowdown of Cambodia’s economy over the next three years because of rising local production costs, sluggish global rice prices and other headwinds. The prediction is a gloomy counterpoint to the coming rebound the Asian Development Bank (ADB) forecast ...

Power system engineering and technical solutions provider Pestech International Bhd has become a concession owner in Cambodia after it secures a project worth RM1.59bil. ...

The Phnom Penh Water Supply Authority – one of two listed companies on the Cambodia Securities Exchange – earned an after-tax net profit of $11.43 million last year, up 20 per cent from 2013. ...

The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended the month of March at about $413 per ton, down about $7 per ton from a month ago and down about $41 per ton from a year ago. Global ...

The government of Cambodia is planning to double rice exports to China in 2015-16 (May-April) to around 200,000 tons, local sources quoted the Ministry of Commerce spokesman as saying. ...

More than 100 slot machines worth over $1 million in total were seized in a police raid on a warehouse in Phnom Penh’s Sen Sok district on Monday, an Interior Ministry official said. ...

Cambodia exported around 149,464 tons of rice the first three months of 2015, up about 77% from around 84,331 tons exported during the same period in 2014, according to data from the Secretariat of One Window Service for Rice Export Formality (SOWS-REF). Cambodia exported 387,061 ...

Cambodia’s critical garment industry may be doing significantly better than Commerce Ministry figures suggest, judging by the Finance Ministry’s count, but just whose numbers to trust is up for debate. ...

Cambodia exported 149,464 tons of rice in the first three months of 2015, up 77 percent over the same period last year, according to data of the Secretariat of One Window Service for Rice Export Formality. ...

Rights groups yesterday took aim at the private-sector arm of the World Bank for investing money into companies that are responsible for human rights abuses around the world, highlighting a Vietnamese rubber firm accused of illegal logging and land grabbing in Ratanakkiri province as a ...

The Preah Sihanouk Provincial Court has denied bail to Russian businessman Nikolai Doroshenko, who was arrested at his family’s restaurant in Sihanoukville last week and jailed on a trio of fraud charges related to a dispute with fugitive developer Sergei Polonsky, the investigating judge said ...

Booking outperform expectation at 60 percent with Singaporeans and overseas investors forming bulk of buyers. YUEN Development Co., Ltd, a Singaporean-owned property developer, officially launched the sale of its phase one luxury condominium–La Vie Residences. Located in Chroy Changvar– Cambodia’s city of the future and adjunct ...

Cambodian and Indonesian foreign ministers discussed ways to further enhance ties and cooperation between the two countries on Wednesday. Both sides also agreed to boost bilateral trade volume, which was still relatively small — around 500,000 U.S. dollars last year, he said. ...

The Ministry of Commerce launched its long-awaited online system to generate certificates of origin (COs) yesterday. The new system, developed in partnership with Singapore-based Crimson Logic, is expected to speed up and simplify the process of getting a CO, a document which identifies where a product ...

Phnom Penh’s state-owned water utilities firm – one of the only two companies listed on Cambodia’s fledgling stock exchange – will boost its annual dividend almost twofold.  ...

Commerce Minister Sun Chan­thol evoked the late U.S. President John Kennedy on Friday at a seminar about “rebranding” Cambodia that quickly turned into a promotional event for Coca-Cola. ...

Police in Phnom Penh raided a factory on Monday, collecting thousands of items of evidence linked to an alleged counterfeiting scheme producing soft drinks illegally marked with the logo of a popular regional brand. ...