Economy and commerce
Cambodian farmers could benefit from new Thai rice prices
The Thai government’s plan to implement a minimum price for Thailand’s rice growers next month is expected to push up paddy prices for Cambodian farmers during the upcoming harvest, agriculture experts said yesterday Agriculture experts said rice paddy prices in Cambodia would likely increase due to ...
Rural Roads to be Rebuilt in Seven Provinces
Plans are in the works to rebuild 505.4 km of rural roads in seven provinces with support from the Asian Development Bank (ADB) and South Korea. The first phase of the repairing of the roads will begin in December 2011. The project to rebuild roads ...
Cambodia, Laos, Myanmar and Vietnam Discuss Ways to Boost Tourism
Tourism ministers from Cambodia, Laos, Myanmar and Vietnam held a meeting in Ho Chi Minh City to discuss ways to boost tourism in all the four countries, creating a four country tourist destination. At the meeting on September 13, attended by over 200 delegates and investors, ...
Inflation weighs on Kingdom's rice exports
Cambodia’s rice export revenues jumped by more than 200% on increasing world food prices during the first eight months of the year, according to Ministry of Commerce data. Price increases, however, drove total exports down. Cambodia exported US$59.8 million in rice, or 105,452 tonnes, between January and ...
ADB sees growth for Kingdom
The Asian Development Bank (ADB) yesterday countered Prime Minister Hun Sen’s prediction that gross domestic product growth will reach 8.7% this year, citing a smaller projection in its annual Asian Development Outlook update. The premier quoted the growth figure in a speech given on Monday, but ...
http://www.phnompenhpost.com/index.php/2011091551672/Business/adb-sees-growth-for-kingdom.html
Illegally shut factories could face penalties
Twenty-two factories that did not take the appropriate measures to shut down their businesses have 30 days in which to rectify the problem or face legal action from the government, the Council for the Development of Cambodia (CDC) said in a public announcement yesterday The announcement ...
Japanese Bank and Cambodian MFI Join Forces
Maruhan Japan Bank and Seilanithih microfinance institution announced this month they are forming a business alliance through which they will work together for mutual benefit and to provide banking opportunities for Cambodia “By joining forces with us, Seilanithih will be able to expand the size of ...
ODA Projects Signed with Japan
Agreements for two Japanese official development assistance (ODA) projects for Cambodia were recently signed at two separate ceremonies One ODA project amounts to US $53.3 million loan for the West Tonle Sap Irrigation and Drainage Rehabilitation and Improvement Project. The other project involves a US $700,000 ...
OCIC Provides Infrastructure Funding
The company that’s behind the Koh Pich bridge development is providing US $70 million to Phnom Penh city hall to improve the city’s infrastructure “All of the money that comes from the Koh Pich development is being used by city hall to develop Phnom Penh city’s ...
Cambodia's 2011 Economic Growth Expected To Be 6.8 Per Cent, Says ADB
KUALA LUMPUR — Cambodia’s economic growth for 2011 is expected to be 6.8 per cent, says the Asian Development Bank (ADB). This is based on the positive trends over the six months of this year and is an improvement over the ADB forecast of 6.5 per ...
http://www.bernama.com/bernama/v5/newsbusiness.php?id=613443
Thai PM's Cambodia Visit May Restore Mutual Trust, Investment
PHNOM PENH–Cambodian analysts believe that the visit of Thai Prime Minister Yingluck Shinawatra to Cambodia on Thursday this week could restore mutual trust and trade and investment relations between the two countries. “From my point of view, the meeting of the two PMs will probably focus ...
http://news.xinhuanet.com/english2010/indepth/2011-09/14/c_131138587.htm
Insurance revenue up 18.2% in first seven months
Revenue generated from insurance premiums in the first seven months of 2011 has grown 18.2% to $15.89 million compared to the same period last year, according to statistics released yesterday by the General Insurance Association of Cambodia. The figures show that revenue from fire premiums increased ...
CamGSM deal said to be close
Telekomunikasi Indonesia’s majority stake purchase of Cambodian mobile operator CamGSM is nearing the end of negotiations that have lasted almost a year Telkom’s planned purchase of CamGSM was part of a 1 trillion rupiah (US$116 million) acquisition strategy for 2012, the Indonesian newspaper Kontan reported yesterday ...
http://www.phnompenhpost.com/index.php/2011091451619/Business/camgsm-deal-said-to-be-close.html
BBAC event set to lure British firms
The number of British companies operating in the country is expected to increase in the coming years, as the British Business Association of Cambodia (BBAC) gears up to chair the Kingdom’s first Britain in Southeast Asia conference next month. The conference, which is set to draw ...
Cambodia and UK trade surges in 2011
Bilateral trade between Cambodia and the United Kingdom increased more than 55% year-on-year during the first six months of 2011, according to the British Embassy in Phnom Penh. Total trade between January and June equalled US$247.2 million, up from $159.3 million during the same period in ...
Bankrupt garment factory promises to pay workers
A representative of Mirea Apparel Factory in the capital’s Meanchey district had promised that more than 500 “agitated” workers would receive a month’s worth of back pay tomorrow, a union official said yesterday. Free Trade Union executive officer Um Lina said that factory representatives had also ...
Agriculture sees influx of new firms
The number of new businesses that registered in the first eight months of the year increased 33% to 2,105 compared to the same period last year, according to data released yesterday by the Ministry of Commerce. Officials said that many of the registrations between January and ...
Premier predicts high growth
Cambodia’s economic growth could surpass previous estimates and hit 8.7% this year, Prime Minister Hun Sen said in a speech yesterday. Earlier government forecasts estimated growth of 6% for 2011, though increasing garment exports and a strong recovery in the tourism sector have stimulated the economy ...
http://www.phnompenhpost.com/index.php/2011091351608/Business/premier-predicts-high-growth.html
Cambodia to export rice to United Arab Emirates
Cambodian rice is due to be exported to the United Arab Emirates (UAE) at the end of this year after Cambodia’s rice exporters participate in the Rice International Conference and Exhibition (RICE) 2011, which will be held on November 3-5 in Madinat Jumeirah, Dubai, UAE In ...
Multimodal transport operation will be implemented in ASEAN countries in 2012
In 2012, Cambodia, Thailand, Vietnam, Laos and Myanmar will begin to implement a multimodal transport operations project in order to strengthen the ASEAN regional cross-border transport corridors and promote regional and transport development toward the ASEAN-community integration in 2015, senior officials said this week ...
Business sector feels pinch of govt's minimum wage hike
BANGKOK – The Pheu Thai-led coalition government’s planned 300 baht daily minimum wage hike has forced some businesses to shift their production bases to areas bordering Cambodia and Myanmar, the Employers’ Confederation of Thailand (ECOT) told a seminar on Monday. At a seminar on implementing the ...
ABF Freight Adds Offices in Asia
ABF Freight System Inc. on Monday announced it had opened offices in Indonesia, Japan, Singapore, South Korea, Malaysia, Vietnam, Thailand, Cambodia, Myanmar, the Philippines, India and Sri Lanka. The locations are in addition to ABF offices in China, Hong Kong and Taiwan, ABF said in a ...
http://www.arkansasbusiness.com/article.aspx?aID=128384.54928.140526
Radiation detection equipment installed at Sihanoukville Port
In the fulfillment of a 2009 pact made between the US and Cambodia to reduce the risk of terrorist activity, the US National Nuclear Security Administration announced on Thursday that it had installed radiation detection equipment at Sihanoukville Autonomous Port. With the new equipment, the port ...
Arbitration council orders an end to strike
The Arbitration Council has ordered more than 700 workers at the Wei Xin garment factory to end a week-long strike they have staged in protest against a spate of issues they have with the company over contracts and payment. A decision handed down on Saturday by ...