Economy and commerce

As much as $320 million is being lost annually as a result of Cambodia’s reliance on the US dollar, while a longstanding mistrust in the riel means there is less of the local currency in circulation, restricting the national bank’s ability to respond in times ...

Grand Twins International, Cambodia’s second stock exchange listing, will list at the lower end of its expected buy-in range, an announcement on the Phnom Penh Securities (PPS) website said yesterday. GTI is to begin trading on May 29 with nine million shares at $2.41 each, according ...

Belarus is ready to transfer technology to Cambodia to implement big strategic projects, Belarusian Prime Minister Mikhail Myasnikovich was quoted as saying Wednesday. In a report from Minsk, the Belarusian Telegraph Agency said Myasnikovich made the remarks during a meeting with Prime Minister Hun Sen who ...

Garment factory owners failed to turn up for what was supposed to have been a tripartite meeting with the government and worker unions on Thursday to help break an impasse in negotiations to increase the minimum wage for workers, officials said. The International Labor Organization (ILO) ...

Garment and footwear industry, Cambodia’s largest foreign exchange earner, currently consists of 960 factories, employing some 620,000 workers, labor minister Ith Samheng said Thursday. The sector made a revenue of 5.5 billion U.S. dollars last year, accounting for around 80 percent of the country’s total exports, ...

The genocides in Cambodia and Rwanda were both aided by local media and propaganda, and the role of foreign media covering them is often criticized as insufficient. In interviews with VOA Khmer, media experts said more funding of that sector could help prevent such errors ...

Twenty-one labor activists who have been detained in Kampong Cham province since their arrests in January were moved to the main prison outside Phnom Penh on Wednesday. Supporters say the 21 are being detained as a lesson to other would-be demonstrators, after a brutal crackdown ...

Striking Phnom Penh Sorya Transportation bus service workers demonstrated with fired employees outside a company garage in Russey Keo district yesterday and threatened to lead others off the job again if a deal on contracts can’t be brokered by the Ministry of Labour and company ...

Cambodia has invited resource-rich Azerbaijan to help develop Cambodia’s prospective oil and gas industry, Commerce Minister Sun Chanthol announced during a high-level visit to the Caucasian country on Tuesday, according to Azerbaijani media reports. Mr. Chanthol laid out a goal to achieve an overall trade ...

Cambodia’s trade deficit expanded to almost half a billion dollars during the first three months of the year, according to the latest figures from the Ministry of Commerce. Between January and March, Cambodia’s exports reached $1.99 billion, up 19 per cent compared to the same period ...

A mid​ strong demand growth in the Grade A office sector, a joint-venture agreement signing event was held at the Sofitel Phokeethra last week, establishing an investment company, provisionally called Kingdom Luxury Development Co, which aims to build a Grade-A office tower Phnom Penh. The joint-venture ...

Southeast Asian countries are likely to miss a deadline for the economic integration of Asean in 2015, a leading economist says. Jayat Menon, an economist for the Asian Development Bank, told reporters in Phnom Penh Wednesday that Asean countries are behind on key targets for integration ...

Cambodia’s Angkor Wat temple, a world heritage site, had attracted 778,740 foreign visitors in the first quarter of 2014, up 12 percent compared to the same period last year, official data showed Wednesday. The top five countries visiting the site are South Korea, China, Vietnam, Japan ...

In a first for Phnom Penh, South Korean condominium developer Nury D&C has teamed up with SBI Royal Securities to offer condominium buyers a leaseback arrangement on the remaining condo-miniums and condo-minium blocks for sale at De Castle Royal. The 32-storey De Castle Royal has a ...

Battambang Rice Investment Co Ltd says it has been certified as the first rice mill in Cambodia with Good Manufacturing Practices (GMP) and Hazard Analysis and Critical Control Points (HACCP). In a statement, the company said it received confirmation of GMP and HACCP certification in a ...

US-based broker Decker and Co has announced a partnership with the Cambodian unit of South Korea’s Tongyang Securities Inc, one of only seven underwriters licensed by the Cambodia Securities Exchange. In a statement late Tuesday, Decker said partnerships with Tong Yang in Cambodia and BPI Securities ...

One hundred fishermen in Banteay Meanchey province’s Sisophon town filed a complaint with local authorities yesterday, accusing a provincial fisheries administration official in Phniet commune of selling their subsistence fishing lot to a businessman. ...

The Phnom Penh Municipal Court on Tuesday ordered embattled union leader Ath Thorn to stay away from the SL garment factory and its workers and to avoid any public gatherings that could “damage public order,” drawing a tight circle around one of the country’s most ...

Imports of older cars and vans should be banned to help reduce pollution, Minister of Industry and Handicrafts Cham Prasidh said on Monday. Speaking to Cambodia’s business community at a Green Industry workshop in Phnom Penh on Monday, Prasidh said all countries had a role to ...

The International Finance Corporation (IFC) has launched an internal investigation into a complaint lodged against the institution for investing in a Vietnamese rubber firm accused of illegal logging and land grabbing in Ratanakkiri, an NGO and villager said yesterday. Earlier this month, representatives of the IFC’s ...

Cambodia’s trade volume with foreign countries has increased by 15 percent in the first quarter of 2014 even though the internal conflict between the ruling and opposition parties over July election results remains unsolved. The figures of the Commerce Ministry showed Tuesday that the Southeast Asian ...

Cambodian stockbrokers yesterday admitted to a disappointing level of investor interest in Grand Twins International’s (GTI) initial public offering. Garment industry unrest, distrust in the private sector and a lack of liquidity in the market were all said to be discouraging investors from buying into the ...

The China Railway Group’s planned $7.5 billion Cambodian north-south railway line has been delayed due to funding shortages, according to the company’s top official. Originally slated to begin construction last year, China Railway’s chairman, Li Changjin, told the South China Morning Post that work on the 400-kilometre railway ...

Small and medium-size enterprises (SME) have been urged by the Cambodian government to employ more environmentally friendly practices at a green industry workshop in Phnom Penh yesterday. Cham Prasidh, minister for the Ministry of Industry and Handicrafts, said SMEs and handicraft producers’ reliance on fossil fuels ...