Economy and commerce

The National Bank of Cambodia has issued a commercial banking licence to a Taiwanese bank, while another banking licence is pending approval for a Chinese-Cambodian joint venture, central bank Director General and Spokeswoman Ngoun Sokha said yesterday. The central bank had licensed Taiwan’s Mega International ...

Cambrew yesterday paid the beer promoters who went on strike in late July to demand that the company abide by an Arbitration Council ruling earlier that month that said it owed the women three years of overtime for working on Sundays. The company, which is ...

The government is drafting a new law that will aim at improving auditing standards and management practices at all of Cambodia’s ports on the coast and rivers and at dry ports inland, officials said yesterday. Speaking at a workshop on port regulation in Phnom Penh, ...

Hong Kong-listed China Oilfield Services Ltd, an offshore services provider for the oil and gas sectors, is looking to start operations in Cambodia, according to an earnings report released by the company last week. “For the overseas market, apart from expanding and strengthening the overseas ...

Kuala Lumpur–Lion Forest Industries BHD (LFIB) is acquiring 58,000 hectares under an economic land concession (ELC) in Cambodia for US$26.1 million (RM78.3 million) to cultivate oil palm and rubber trees. LFIB said on Monday, Aug 29 the concession would not be less than 70 years under ...

Cambodia may raise fees for planes moving through the Kingdom’s airspace after granting Cambodia Air Traffic Services Company permission to increase the fees by 5.5 percent. Cambodia’s overflight fees are low, and will remain low, compared to other countries in the region, Soy Sokhan, undersecretary ...

The postponed 2nd Thailand Trade Exhibition 2011 will not be reorganised this year due to budget restrictions, according to Jiranan Wongmongkol, commercial counsellor based at the Thai embassy in Phnom Penh. The trade fair was originally scheduled for May 19 to 22 at Phnom Penh’s ...

As the creation of Cambodia’s first law on trade unions enters a final phase this week, labor activists and unions said the draft law as it stands is in urgent need of revision, as it would cripple unions and severely undermine collective bargaining rights. They ...

Phnom Penh–The first Chinese animal feed mill officially inaugurated here on Sunday, bringing the number of the same kind of factories in the country to five, said Cambodian Minister of Agriculture. “The factory is a new achievement of good cooperation between the governments and the peoples ...

A Cambodia migrant worker who was at times threatened at knifepoint, tied up or punched in the head by her employer yesterday revealed her chilling experience of the labour recruitment industry.  Following her testimony via video link, broadcast at Sam Rainsy Party headquarters, opposition parliamentarian ...

Cambodia Angkor Air will launch a regular flight service between Siem Reap and Sihanoukville by the end of the year, an official at the Council of Ministers said yesterday. There are currently no flights to Sihanoukville, the country’s premier coastal resort, even though the airport ...

Cambodia’s foreign donors are staying largely mum about the government’s decision to indefinitely  high-level aid meeting, though one donor conceded that the move had caught it off guard. Economists also said yesterday that a delay in holding the donor meeting would have little effect, but ...

The second Cambodia-Vietnam Trade and Investment Fair opened in Kampot, Cambodia on August 24. The fair has attracted more than 50 Vietnamese and Cambodian businesses to display their high quality products, such as garment, footwear, food, chemicals, electronics, plastics and handicraft products. The aim is to help ...

Setting a minimum price for paddy is one of the campaign promises that the Pheu Thai party made to its supporters during the recent election campaign in Thailand before it was elected to power. Now it’s a matter of waiting to find out whether this ...

The US Export-Import Bank (EXIM) and the Cambodia Chamber of Commerce signed an agreement on Monday that will guarantee loans offered for the purchase of US goods and services. The memorandum of understanding was signed as part of the US-Asean Trade and Investment Framework Arrangement, ...

China National Cereal, Oil and Foodstuffs Corporation (COFCO) is the latest mainland Chinese company to sign a deal to export Cambodian rice. COFCO is one of a number of Chinese companies that have signed similar deals with their Cambodian counterparts, but  direct rice exports to China ...

The National Accounting Council, the Kampuchea Institution of Certified Public Accountants and Auditors and Association of Chartered Certified Accountants (ACCA), co-organized to launch a National Conference on “Accountancy in Cambodia-Towards Global Standards” on August 12th in Phnom Penh to reflect what is being implemented in ...

The China National Food Industry (Group) and Cambodia’s Le Ye Rubber on August 13th signed a Memorandum of Understanding on a cooperation agreement to acquire one million cassava product exports from Cambodia to China Cai Yong Feng [President of China National Food Industry Group] said: ...

The relations between People’s Republic of China and Cambodia have become closer in the way of culture, in which China is the most important strategic development partner in improving Cambodia’s economic growth through both financial and technical grant aids,” Mr. Eang Sophalet, assistant to Samdech ...

A new high-end private hospital in Phnom Penh, a collaboration between Cambodia’s Sokimex and Ho Chi Minh City’s well-known Cho-Ray Hospital, is set to hire 280 Cambodian health care workers in the next year, according to a Sunday satatement posted on the City Hall website. ...

Energy planners are pushing the revival of talks with Cambodia on the oil-rich overlapping claims area (OCA) between the two countries to ensure energy security. They also urge all parties not to turn it into a political issue so that the talks stand a chance ...

PHNOM PENH — The U.S. Export-Import Bank ( Exim Bank) and the Cambodia Chamber of Commerce (CCC) inked the Memorandum of Understanding on trade loan guarantees to boost trade between the U.S. and ASEAN member countries, according to a statement released by the U.S. embassy ...

Cambodian exports increased 45.9 percent to $2.15 billion in the first six months of the year compared to the same period in 2010, according to figures released by the Ministry of Commerce yesterday. Of the total value of exports, 80 percent, or $1.74 billion, were ...

PHNOM PENH– The China-made Sanya-branded motorcycles have officially entered Cambodian market on Wednesday to compete in the country’s crowded motorcycle market. Pan Sorasak, Secretary of State for the Ministry of Commerce, expressed congratulations to the SCI Company Limited for being selected to be the exclusive distributor ...