Economy and commerce

Cambodia needs 26.5 bln USD for next five-year development plan

The Cambodian Council of Ministers on Friday approved a five-year development strategic plan (2014-2018), which needs financial resources of 26.5 billion U.S. dollars to achieve the target, according to a news statement released after a weekly cabinet meeting. The plan is designed to develop infrastructure, ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/world/2014-05/30/c_133374027.htm

Gov’t orders halt to Koh Pich expansion

The owner and developer of Koh Pich in Phnom Penh has been ordered by the government to scale back its expansion of the island, according to the Ministry of Water Resources and Meteorology. According to a statement posted to the ministry’s website on Wednesday, the Overseas ...

Mech Dara
http://www.cambodiadaily.com/news/govt-orders-halt-to-koh-pich-expansion-60029/

As verdicts loom in 25 protest related cases, acquittals sought

Verdicts will be handed down Friday in two garment protest-related cases that rights groups say were built on a weak body of evidence. The two cases occurred months apart but followed a similar narrative: Garment workers fed up with their calls for a higher monthly minimum ...

Lauren Crothers
http://www.cambodiadaily.com/news/as-verdicts-loom-in-25-protest-related-cases-acquittals-sought-60056/

Monks protest over institute

A group of about 100 people, including 50 or so monks, attempted to march yesterday to protest outside Phnom Penh’s Buddhist Institute, but were thwarted by droves of military police and district security guards on Sisowath Quay. No violence occurred as Independent Monk Network leader But ...

Chhay Channyda
http://www.phnompenhpost.com/national/monks-protest-over-institute

Company digs trench around family’s home

Hang Chantha watched in horror last weekend as a private company battling to take her land dug a four-meter-deep trench around the perimeter of her home. “After the company dug, I could not sleep at night; I was afraid my house would fall,” she recounted Thursday, ...

Ben Sokhean and Alex Consiglio
http://www.cambodiadaily.com/news/company-digs-trench-around-familys-home-60031/

Cross at your own risk

Since he began making the perilous journey to Thailand to log rosewood 10 years ago, Sao Sophon* has had plenty of time to calculate the cost of dying. “When we cross the border to Thailand, our lives are equal to $80 or $90, because that is ...

May Titthara and Alice Cuddy
http://www.phnompenhpost.com/national/cross-your-own-risk

Rice industry caught in flux

The rice industry’s quest for greater quality at lower cost reached a dead end yesterday at a conference in Phnom Penh, with exporters and farmers polarised on how to achieve greater returns for the industry. The workshop, titled “Improving Rice Value Chain and Enhancing Farmers’ Livelihoods”, ...

Chan Muyhong
http://www.phnompenhpost.com/business/rice-industry-caught-flux

Boy caught up in protests faces 11 years in jail

As several hundred garment workers from the SL Garment factory pelted police with rocks during a protest near the Stung Meanchey pagoda in November, Men Sok Sambath, a 14-year-old scrap collector, decided to join the crowd. “I saw other people throwing rocks at the [police] truck, ...

Mech Dara and George Wright
http://www.cambodiadaily.com/news/boy-caught-up-in-protests-faces-11-years-in-jail-59934/

Rice exports to Thailand dive

Rice exports to Thailand plummeted in the first four months of the year as a result of that country’s surplus, which reached record levels at the end of 2013. Between January and April, Cambodia exported just 1,550 tonnes of rice to Thailand, down 89 per cent ...

Chan Muyhong
http://www.phnompenhpost.com/business/rice-exports-thailand-dive

Vendors hit as price of Thai durian imports rise

The price of durian from Thailand has risen sharply this year, leading to shrinking profits for fruit vendors in Phnom Penh as demand from China for the spiky, pungent fruit grows more robust. On Sihanouk Boulevard, fruit vendor Heng Sovanna said that since March, the price ...

Kang Sothear and George Styllis
http://www.cambodiadaily.com/business/vendors-hit-as-price-of-thai-durian-imports-rise-59964/

Borey River Town developer eyes second, $100 million property investment

Following the success of Borey River Town, the investor behind it has announced plans to inject $100 million into developing a new project. General manager Teng Rith says that construction of Borey River Town is now 50 per cent complete, with some 80 per cent of ...

Siv Meng
http://www.phnompenhpost.com/real-estate/borey-river-town-developer-eyes-second-100-million-property-investment

De Castle Royal partners with The Place for first-class gym workout

The management of the 32-storey De Castle Royal condominium project in BKK1 has announced that the The Place, widely regarded as Phnom Penh’s only independent five-star gym, will manage the development’s fitness centre. This means the air-conditioned De Castle Royal gym will be fully fitted out ...

Post Staff
http://www.phnompenhpost.com/real-estate/de-castle-royal-partners-place-first-class-gym-workout

Grand Twins again delays bourse listing

Grand Twins International (Cambodia) Co. Ltd., a Phnom Penh-based manufacturer of clothes for U.S. athletic brands, has again delayed its listing on the Cambodia Securities Exchange (CSX), officials said Wednesday. The company was expected to list Thursday, but technical problems prevented it from doing so, according ...

Hul Reaksmey
http://www.cambodiadaily.com/business/grand-twins-again-delays-bourse-listing-59958/

Electronics workers call for child care

About 700 workers at a Svay Rieng province electronics factory were to demonstrate for the third day today after management refused their demands for access to child care and the reinstatement of five union leaders. The provincial department of labour yesterday proved unable to sway management ...

Chhay Channyda
http://www.phnompenhpost.com/national/electronics-workers-call-child-care

Construction, sales of Casa Meridian to get under way this weekend

The Hong Kong-invested Casa Meridian project plans to launch sales and start construction at the end of this month. Casa Meridian is a skyscraper condominium development on Diamond Island (Koh Pich), which developers there hope will become a modern commercial and residential area of Phnom Penh ...

Siv Meng
http://www.phnompenhpost.com/real-estate/construction-sales-casa-meridian-get-under-way-weekend

ADB lends 75 mln USD to Cambodian bank to support small firms

The Asian Development Bank (ADB) on Wednesday signed a 75 million U.S. dollars loan with Cambodia’s largest bank, Acleda Bank, to address the rising financing requirements of micro, small and medium-sized enterprises (MSME) in the country. The agreement was inked between Christine Engstrom, director in ADB’s ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-05/28/c_133368436.htm

Thai mangosteen, durian supplies short of demand in Cambodia, Vietnam

Cambodia and Vietnam have urged Thailand to export more mangosteen and durian in response to the high demand in both neighbouring countries.   Sombat Juengtrakoon, deputy chairman of the Thai-Cambodian Border Trade and Tourism Association in Chanthaburi Province, told journalists Monday that Thailand export a lower volume ...

Pattaya Mail
http://www.pattayamail.com/business/thai-mangosteen-durian-supplies-short-of-demand-in-cambodia-vietnam-37980

Australian firm bets on Bavet

Australian-listed Cell Aquaculture (CAQ) – a onetime a marine technology company – has purchased a casino on the Cambodia-Vietnam border in a bid to generate much-needed revenue after nearing bankruptcy in 2013. On May 26, CAQ announced in a statement to the Australian Stock Exchange that ...

Eddie Morton
http://www.phnompenhpost.com/business/australian-firm-bets-bavet

Foreign currency deposits see strong growth

Foreign currency deposits grew briskly during the first four months of the year, a sign that public confidence in Cambodia’s financial institutions is high despite the uncertainty after last year’s disputed national election, bankers said this week. Cheam Teang, executive vice president of Acleda Bank Plc., ...

Kang Sothear
http://www.cambodiadaily.com/business/foreign-currency-deposits-see-strong-growth-59815/

NGOs lobby China, companies over Sesan dam

A group of 15 local and international rights groups Tuesday sent a slew of letters to the Chinese government and companies involved in the Lower Sesan II hydropower dam in Stung Treng province seeking a halt to dam construction due to serious environmental and social ...

Simon Henderson
http://www.cambodiadaily.com/news/ngos-lobby-china-companies-over-sesan-dam-59807/

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