Economy and commerce

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 ...

The vast majority of the country’s 600,000-strong garment factory workforce appeared to be back on the job Monday despite a call from unions to continue a stay-at-home strike until Tuesday. Eight unions had spent weeks urging workers to stay home after the Khmer New Year from ...

A team of disabled security guards hired to protect the embattled SL Garment Factory in Phnom Penh is seeking the formalization of their employment and an end to what they claim is the factory’s exploitation of their impairments. In November—at the height of an occasionally violent, ...

Malaysia’s leading armoured vehicle maker DRB-Hicom Defence Technologies Sdn Bhd (DefTech) is setting its sights on Cambodia and Myanmar, said chief executive officer Amril Samsudin. ...

Vietnam’s HAGL JSC is expanding its overseas plantations and plans to harvest corn in Cambodia and Laos this year, Bloomberg News reported Monday. ...

Phnom Penh Water Supply Authority is scheduled to hold this week its annual general meeting of shareholders, the second since its shares were listed two years ago. The meeting is due to take place at the authority’s headquarters in Daun Penh district on Thursday morning. ...

Mike Weeks and Delayne Weeks of Canada had a dream five years ago: create a gold mine. Do it in a nation that has never produced gold commercially. Use the process to educate and enrich an impoverished population. The country is Cambodia. The mine is in northeast ...

Three people were arrested in Banteay Meanchey province on Friday during a protest in which more than 400 vendors rallied against orders to move to new market sites. In what authorities said was an effort to “restore public order”, police and military forces were deployed to ...

A Phnom Penh-based factory supplying uniforms for police officers and firefighters in the US city of Los Angeles continues to break Cambodian labour laws, a report to be publicly released today says. Kin Tai Garment factory, a supplier to 5.11 Tactical – which sells the uniforms ...

At least eight bus drivers from Phnom Penh Sorya Transportation company were fired last week for leading a strike before Khmer New Year to demand higher wages, employees and union representatives said Sunday. About 80 drivers went on strike on April 3 demanding a $60 increase ...

Citi Research, the strategy and analysis arm of Citigroup Inc, one of the world’s largest financial firms, has questioned NagaCorp’s VIP junket program in a recent report that also cites cross-border competition and tourism failings as potential threats to the program’s success. Citi Research’s analysis was ...

More than 2,000 workers at three factories in Svay Rieng’s Bavet City went on strike Saturday, claiming their bosses owed them money. About 500 workers at the You Li factory, which makes baby clothes, went on strike Saturday because management refused to pay them for Thursday ...