Economy and commerce

PHNOM PENH — China’s Hainan Ruijin Investment Holding Group planned to invest in rice plantation, cow farm and tourism development in Cambodia, the group’s chairman Pan Xiaoping said Wednesday. Pan said during a meeting with Heng Samrin, president of Cambodia’s National Assembly that his company decided to establish an overseas branch office in Cambodia to focus on the threeprojects. Pan did not say when the projects will be started. Heng Samrin pledged full support for those projects, which he said will be good to boost thedevelopment of Cambodia’s economy. “Foreign investment is a key factor to accelerate economic development in Cambodia,” he said.   ...

Shandong Shantui, a Chinese firm and one of the largest manufacturers of heavy construction machinery and largest producer of bulldozers has expressed an interest in investing in Cambodia’s agricultural sectors. General Manager Cheng Zhaohong met with Cambodia’s National Assembly President Heng Samrin yesterday morning to present the company’s ...

Prime Minister Hun Sen will be opening the 44th ASEAN Economic Ministers Meeting and related meetings will kick off August 27 in Siem Reap, the centre of Khmer culture and civilization in Cambodia, and will run to September 1, according to the Ministry of Commerce. The meeting ...

The Cambodia Securities Exchange (CSX) has requested adding four trading sessions in the hopes of increasing trade volumes. The request, if approved by the Securities and Exchange Commission of Cambodia, could see new sessions added within a month. The CSX has seen low trading volumes over the ...

At first glance, the numbers indicate Cambodia’s investment climate has grown a little colder. Conditions appear to be worse than they were a year ago due to a big drop in total fixed assets for approved investment projects. However, economists say the Cambodia outlook is actually ...

Putting a new spin on a traditional art form isn’t a simple thing to achieve, but for niche fashion enterprise Artisan Designers (AND) an ambitious new branding campaign is seeing Cambodian handicrafts pushed in a new direction. Opening eight months ago on the tourist-friendly street 240, ...

Phnom Penh now offers Adidas brand-name sportswear at #90 Sihanouk Boulevard just west of the Independence Monument in the latest enhancement of what has become Cambodia’s fashion district. Phnom Penh’s movers and shakers were on hand for Saturday night’s Adidas launch event with a tent-enclosed street-side stage adjacent ...

Workers who have been told they have been sacked for striking at the co-owned Tai Yang and Camwell factories will forget about their seniority bonuses – for now – if they are reinstated, unions and an advocacy group said yesterday. In an attempt to end one ...

Bank of China is in negotiations with Cambodia’s central bank on the promotion of business transactions in Chinese yuan. The official talks reflect rapid trade growth between the two countries at a time when several commercial banks in Cambodia have launched yuan remittance and trade-settlement products. The ...

Cambodian Center for Study and Development in Agriculture (CEDAC), a Cambodian agricultural organisation, will collect US$20 million from the Kingdom’s farmers through 2022 in an attempt to accumulate capital for organic rice production. Oun Sophal, president of CEDAC’s Farmer Network from Kampot province’s Dang Tong ...

Phnom Penh: “Cambodia is needing $ 1 billion over the years or at least 100 million annual investment to develop renewable energy projects for rural electrification in order to reduce its dependence on diesel consumption,” said Mr. Toch Sovanna, Director of Departmemnt of Energy Technique, ...

A sugar company originally part-owned by ruling party Senator Ly Yong Phat that has long fought villagers over a land dispute in Koh Kong province is now under the complete control of two foreign-owned companies, statements released by the firms last week reveal. The Mitr Pohl ...

Revenues generated by insurance firms increased 40 percent ro $18.9 million between january and June compared to the same period last year, according to data released yesterday by the General Insurance Association of Cambodia (GIAC). Fire insurance continued to reign as the sector’s top earner, accounting ...

The International Labour Organisation (ILO) released the latest data from its EU-funded project Monitoring and Assessing Progress of Decent Work this week, showing that despite an improving environment, including low rates of official unemployment , 75 per cent of workers are in vulnerable jobs. This includes the self-employed or ‘own ...

Military police in Siem Reap province arrested a 33-year-old woman this week on accusations of fraudulent activity involving writing a cheque at a local bank. Cheque account usage, an infrequently used service only a few years ago, is gaining traction in the Kingdom. Bank officials said fraudulent cheques ...

Cambodia Life Insurance Company Plc plans to bundle services with banks to offer guarantees on mortgages, company representatives said. The service is hoped to make mortgages more accessible in a country where housing loans are still considered risky business. Collateral is usually required to take loans ...

The price of Phnom Penh Water Supply Authority stock from the period of August 2 to 8 remained very stable at KHR6,500 for most of the week after a slight increase from KHR6,400 (US$1.57) to KHR6,500 (US$1.6) on August 3. Trading volumes overall were lower ...

About 200 vendors from Phnom Penh’s Tomnup Market gathered in front of the Appeal Court yesterday morning to protest an earlier ruling by the Phnom Penh Municipal Court that paved the way for the market’s reconstruction. In 2011, the market’s owner, New Rich Cambodia ...

Speaking to an audience of more than 150 private- and public-sector energy officials at the Second East Asia Summit Energy Efficiency Conference, officials agreed that not enough was being done to convince manufacturers and other large consumers of energy to switch to new energy efficient ...

Cambodia’s small and medium enterprises (SMEs) are busily preparing for the ASEAN Economic Community’s free flow of goods in 2015 and are probably not that different from the other 10 ASEAN member states’ own SMEs.  Te Taing Por, president of the Federation of Associations for ...

Cambodia’s top economy builders are looking to bring back Thai investment that has departed the country since the onset of political clashes involving Preah Vihear temple in northern Cambodia. Officials at the Council for the Development of Cambodia (CDC) yesterday hosted 30 delegates from the Thai ...

The number of new businesses registered in Cambodia through the first six months of 2012 reached 1,694, an increase of 10.86 percent compared to the same period last year, according to figures released on Tuesday by the Ministry of Commerce. ...

Sugar factories from Tay Ninh Province have spent over VND110 billion (US$5 million) to plant sugar cane in Cambodia’s Svay Rieng Province for the 2012-2013 crop, said the Tay Ninh People’s Committee. Vietnamese sugar producers have planted the crops in Cambodia as sugar cane in ...

Rubber exports increased by more than 5 per cent in the first half of the year compared to the same period in 2011 as the price decreased more than 28 per cent, according to data received from Cambodia’s Ministry of Commerce. The data shows that ...