Economy and commerce

Largest hydropower station on Mekong River starts operation

The largest hydropower station on Lancang River in southwest China’s Yunnan Province — known as the Mekong River in southeast Asia — went into operation Thursday with its first power generating unit up and running. The Nuozhadu hydroelectric station, located in the city of Pu’er, is ...

http://www.dap-news.com/en/index.php?option=com_content&view=article&id=9552:-largest-hydropower-station-on-mekong-river-starts-operation&catid=1:local-news&Itemid=18

Putin sees boom in Asia-Pacific trade with Europe via Russia

Russian President Vladimir Putin says the Asia-Pacific region’s trade with Europe via Russia will surge by at least five-fold by 2020 as traditional sea routes become less competitive. His remarks came in a commentary published by the Wall Street Journal ahead of a summit of leaders ...

http://www.asianewsnet.net/home/news.php?id=36079&sec=2

Rice Production Increases as Country Moves Toward 2015 Export Goal

Economists and agriculture officials say Cambodia could export 1 million tons of milled rice by 2015, but that depends on improvements in the sector, along with some global factors out of the control of the country’s farmers and millers. Prime Minister Hun Sen has set the ...

http://www.voacambodia.com/content/rice-production-increases-as-country-moves-toward-2015-export-goal/1502343.html

Cambodia will spend $67 million finance to restore infrastructure from last year flood damage

ADB (Asian development bank) pledged to offer $55 million loan for infrastructure restoration from flood damage last year in Cambodia. At the same time, AusAid also offered 5.25 million US dollars, and the Cambodian government will spend 6.39 million US dollars for the whole infrastructure ...

http://thesoutheastasiaweekly.com/?p=4483

ANRPC sees higher rubber output

Natural rubber (NR) production in Association of Natural Rubber Producing Countries (ANRPC) this year is set to rise by 4.9% to 10.83 million tonnes from 10.33 million tonnes in 2011 The members of ANRPC are Thailand, Indonesia, Malaysia, Vietnam, Cambodia, India, China, Papua New Guinea, the ...

http://biz.thestar.com.my/news/story.asp?file=/2012/9/6/business/11977003&sec=business

Cambodia sees slight decrease in rice export in 7 months due to price competition

Cambodia had exported 89,800 tons of milled rice in the first seven months of this year, a 2.6 percent drop from 92,200 tons at the same period in a year ago, showed the statistics from the Ministry of Commerce’s Camcontrol Department on Thursday. However, the revenues ...

http://www.dap-news.com/en/index.php?option=com_content&view=article&id=9551:-cambodia-sees-slight-decrease-in-rice-export-in-7-months-due-to-price-competition&catid=1:local-news&Itemid=18

Backgrounder: Operating, negotiating FTA agreements with APEC economies

Member economies of the Asia-Pacific Economic Cooperation forum (APEC) are striving to forge a regional free trade facility to be known as FTAAP (Free Trade Area of Asia-Pacific) AFTA (ASEAN Free Trade Area) – signed in January of 1992, it covers all 10 ASEAN members of ...

http://www.dap-news.com/en/index.php?option=com_content&view=article&id=9548:-backgrounder-operating-negotiating-fta-agreements-with-apec-economies&catid=1:local-news&Itemid=18

Cambodia Says No Strings Attached in Recent Chinese Aid

China has done a lot to support Cambodia over the years with millions of dollars in aid, loans and investment. But after reports this week that China has pledged another $500 million in soft loans and grants—and publicly thanked Cambodia for its support in Southeast ...

http://blogs.wsj.com/searealtime/2012/09/06/cambodia-says-no-strings-attached-in-recent-chinese-aid/

India shows interest in cashew nut processing

India is considering establishing a cashew nut processing factory in Cambodia to curb exports to India from third countries, according to officials at the Indian embassy. Dinesh Patniak, the ambassador to Cambodia, said Cambodia produced a lot of cashew nuts that were sent to Vietnam for ...

http://www.phnompenhpost.com/index.php/2012090658526/Business/india-shows-interest-in-cashew-nuts-processing.html

Cambodia Climbs Global Competitiveness Ranks

Cambodia climbed the rankings of the World Economic Forum (WEF) 2012-2013 global competitiveness report to finish 85th out of 144 countries, an improvement of 12 places compared to the previous year. The WEF report, which was released yesterday, measured the competitiveness of each country on more ...

Soft loan from Sweden

Sweden loaned Cambodia US$57 million yesterday for economic country development and cooperation for the duration of 2012-2013. The agreement was made between Cambodia’s Economic Minister Keat Chhon and Swedish ambassador to Cambodia Anne Hoglund at the Council for the Development of Cambodia (CDC) yesterday morning. Keat Chhon ...

May Kunmakara
http://www.phnompenhpost.com/index.php/2012090658528/Business/soft-loan-from-sweden.html

Garment Workers Set Tires on Fire as Tax Protest Continues

About 600 garment factory workers continued their strike in Phnom Penh yesterday, setting car tires alight to protest what they said were unfair salary cuts but factory representatives and labor officials described as a normal tax on income. “The factory told us that they cut our ...

Insurance urged for CSX listings

The Ministry of Economy and Finance yesterday urged companies intending to list on the Cambodia Securities Exchange (CSX) to buy insurance to bolster public confidence. Vice President Bo Chanpiro of the Financial Industry Department of the Ministry of Economy and Finance said the finance sector relies not only ...

http://www.phnompenhpost.com/index.php/2012090658524/Business/insurance-urged-for-csx-listings.html

Second Eviction Protester Jailed In Two Days

Police and court officials yesterday questioned, charged and imprisoned elderly woman involved in the long-running land dispute at the Borei Keila community in Phnom Penh, a day after an anti-eviction protester from Boeng Kak community met a similar fate. In both cases, police and court officials ...

ASEAN forum to tackle migrant worker safety

One of the biggest challenges to protecting Cambodian migrant workers is the sheer distance between their homeland and the countries they are working in, Ministry of Labour officials said yesterday. A pattern has emerged in which brokers lure more and more Cambodians away from traditional border-country ...

http://www.phnompenhpost.com/index.php/2012090558500/National-news/asean-forum-to-tackle-migrant-worker-safety.html

Ensure fairness, Kirk advises

Cambodia needs to ensure fair treatment of both domestic and foreign investors if it wants to attract more foreign investors, accordsing to US Trade Representative Ron Kirk. Kirk presented the idea during a press conference last week in Siem Reap durig the ASEAN-US Business Summit by ...

http://www.phnompenhpost.com/index.php/2012090558496/Business/ensure-fairness-kirk-advises.html

Laos, Cambodia set for more listings

Private companies and state enterprises are expected to raise large amounts of funds via the stock exchanges in Thailand, Laos and Cambodia over the next several years. More private firms will list on the Cambodian and Laotian bourses next year, their executives told media yesterday at ...

http://www.nationmultimedia.com/business/Laos-Cambodia-set-for-more-listings-30189439.html

Hello staff contracts 'breached'

Almost 100 members of the sales and service staff of mobile phone provider Hellopoint are awaiting a meeting with the Ministry of Labour after submitting a complaint last month claiming that a policy introduced in July amounted to a breach of their employment contracts. According to ...

http://www.phnompenhpost.com/index.php/2012090558501/National-news/hello-staff-contracts-breached.html

Bulldozing of crops reignites dispute

Contractors hired by Cambodian land brokers bulldozed through four hectares of villagers’ crops in Poipet town on Monday, breaching a truce contract that protected the villagers’ land until January 1 next year. According to the contract, the families residing on land claimed by 11 independent Cambodian ...

http://www.phnompenhpost.com/index.php/2012090558502/National-news/bulldozing-of-crops-reignites-dispute.html

Dredging licenses up for grabs

The government has granted contracts to three unnamed private companies to invest in dredging operations along parts of the , but is withholding the companies’ names and information on the specific areas for the large-scale projects. Lim Kean Hor, the Minister of Water Resources and Meteorology, told ...

http://www.phnompenhpost.com/index.php/2012090558508/National-news/dredging-licences-up-for-grabs.html

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