Economy and commerce

About 1,000 workers protested outside Ocean Garment factory in Phnom Penh’s Pur Senchey district on Wednesday to demand compensation for being out of work while the factory suspends its operations for a month due to flagging demand from buyers, a union leader said. Workers have been ...

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 ...

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 ...

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 ...

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 ...

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., ...

The Telecommunication Regulator of Cambodia (TRC) last week warned mobile operator Smart that it could face legal action for attempting to lure customers away from rival operator qb, and ordered Smart to resolve the issue “immediately,” according to a letter from TRC to Smart’s CEO ...

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 ...

Police raided a discount store in Phnom Penh and seized more than 1,000 bottles of beauty products on Monday after receiving a tip that the shop was selling counterfeit goods, an official said. Police confiscated 872 bottles of shower gel and 280 bottles of whitening cream ...

Cambodia National Rescue Party president Sam Rainsy yesterday called on residents in the northeast provinces to defend their land lest the area be turned into a Vietnamese “colony”. Rainsy’s comments were quickly condemned by both the Cambodian and Vietnamese governments. Speaking to hundreds of people in Mondulkiri ...

A representative of villagers involved in a land dispute in Mondolkiri province appealed to the government Tuesday to address their displacement after their shelters were destroyed by police and soldiers in a forced eviction Monday. Chan Rithy stood outside the National Assembly in Phnom Penh on ...

CIMB Bank, Malaysia’s second-largest, has entered the insurance market via a partnership agreement signed yesterday with Cambodia Life Insurance Company (CLIC). In Meatra, director general of CLIC, said that under the partnership, CIMB had received full access to offer their insurance products to customers. ...

Responding to reported fears among staff that the destruction of a wall at Phnom Penh’s Buddhist Institute could herald the piecemeal sale of the grounds to adjacent casino operator NagaCorp, the government yesterday chalked the alarm up to a simple misunderstanding. According to the Ministry of ...

The Stock Exchange of Thailand (SET) is providing assistance to the Cambodia Securities Exchange (CSX), a young stock exchange in Asean. Prior to the agreement with Cambodia, the Thai exchange has formed alliances and established collaboration with exchanges in the Greater Mekong Subregion. With its commitment ...

Representatives from some of the world’s largest fashion brands and the leader of one of the world’s biggest union organizations met this week with Cambodian officials and local clothing manufacturers to demand better treatment and improve workplace safety for the country’s estimated 600,000 garment workers. Garment ...

FLAG carrier Philippine Airlines (PAL) has not lost its interest in pursuing a joint-venture agreement with Royal Group of Cambodia (RGC) to establish Cambodia Airlines Co. Ltd.  PAL President Ramon S. Ang confirmed that his airline’s discussions for investment in the Cambodian carrier are ongoing, as ...

In less than two months, smokers indulging in Cambodia’s inexpensive cigarettes will have to reach a little deeper into their wallets. Starting in July, the tax on cigarettes will jump from 20 per cent to 30 per cent of the retail price, with a tax base ...

This season’s Kampot pepper production is expected to reach 27 tonnes, up from 21 tonnes last year thanks to a larger area of harvested land. But Nguon Lay, president of the Kampot Pepper Association, said on Sunday that despite the increase, adverse weather conditions meant the ...

Cambodia Securities Exchange (CSX) will partner with the Stock Exchange of Thailand (SET) to bolster technical knowledge and potential investment into Cambodia’s nascent stock market. An agreement between the two financial institutions was signed in Phnom Penh yesterday at the CSX office, a deal that will ...

The Ministry of Foreign Affairs yesterday urged Cambodia and Australia to increase trade ties and encouraged greater investment from the Pacific country. Speaking at a seminar in Phnom Penh to mark the 40th anniversary of ASEAN-Australia relations, Soeung Ratchavy, secretary of state at Ministry of Foreign ...

Construction work at the site of Phnom Penh’s Buddhist Institute by Hong Kong-listed casino operator NagaCorp has caused concern among staff that the large development is driving away students. In recent days, a wall separating the institute from Hun Sen Park in Chamkarmon district’s Tonle Bassac ...

A Cambodian delegation to the United Nations last week used the stage to shame the World Bank’s financial arm for failing to adequately monitor investments in a Vietnamese rubber giant accused of illegal logging, forced evictions and sexual harassment. Representing 17 indigenous communities in Ratanakkiri that ...

Cell Aquaculture (ASX:CAQ) has advised the soft opening of the Roxy Casino in Cambodia for which it has executed the Heads of Agreement to acquire. It had in March agreed to acquire Roxy Casino and the Haikou Free Trade Zone project from vendors Noble Rate Limited, Tang ...

Cambodian officials, led by Permanent Deputy Prime Minister Keat Chhon, on Monday met with a 18-member delegation representing global brands and trade unions to discuss garment worker rights and wages. It was the second round of talks between Cambodian government officials and representatives of major brands ...