Economy and commerce

Cambodian garment makers are filling orders for the 2012 London Olympics in what insiders say is the first time the country has supplied the Games. ShenZhou International Group Holdings Ltd, one of China’s largest apparel exporters, makes shirts and other sportswear for Adidas that will supply ...

Cambodia is unlikely to meet even half of its 2015 goal to export 1 million tons of milled rice unless export and production costs are greatly reduced and more private investment goes toward the agriculture sector, according to a new World Bank study obtained Monday. The ...

PHNOM PENH: Malaysia expects to minimise its dependence on imports of animal feed and lessen the impact of the global food crisis by 2020 under the reciprocal investment policy, Agriculture and Agro-based Minister Datuk Seri Noh Omar said. One such initiative under the policy was the ...

Cambodian Deputy Prime Minister and Minister of Economy and Finance H.E Keat Chhon said Cambodia Security Exchange (CSX) will begin trading from January 2012. Inaugurated in July, the CSX would be put on hold until next year because some rules and regulations have been being discussed ...

A Malaysian firm on Saturday signed a joint agricultural agreement with property development company Paragon Corporation Cambodia worth a potential US$2 billion in exports of corn, rubber, coffee and other cash crops. Penned by Paragon Corporation Cambodia and Markmore Group Malaysia, the joint development project will ...

Bilateral trade between Cambodia and Thailand increased slightly by 8 per cent during the first eight months of 2011 compared to the same period last year, according to the Thai Embassy’s Foreign Trade Promotion Office (FTPO) statistics obtained by the Post yesterday. The increase in trade ...

The government has collected 6,557 billion riel, or about $1.6 billion, in revenues in the first seven months of 2011, a figure that is twice that of the $801 million in revenues that were collected during the same period last year, data released by the ...

Minister of Commerce Cham Prasidh on Wednesday, in a meeting with the European Chamber of Commerce in Cambodia, called on delegates to host an EU-ASEAN business summit next year, according to Eurocham members who were present. The summit is expected to focus on enhancing business strategies ...

Tokyo: Cambodia needs more than an estimated US$13 billion in infrastructure works by 2020 if the country intends to continue attracting foreign investment, a joint survey by some of the world’s top financial institutions indicated on Wednesday. During a conference held by the Japan International Cooperation Agency ...

The Ministry of Labour has been ordered to permanently close the labour recruitment firm T&P following the discovery of more under-age trainees in its Kampong Chhnang centre. The move marks the first time the ministry has shut a labour reruitment firm, and follows intense criticism of ...

Bilateral trade between China and Cambodia is on track to reach $2 billion by the end of this year, its highest level ever, an official at the Chinese Embassy in Phnom Penh said. Jin Yuan, economic and commercial counselor at the Chinese Embassy, said during a ...

As government borrowing from China continues to increase, a new study released yesterday showed that Chinese concessional loans carry higher interest than any others. According to the study, released by the NGO Forum on Cambodia at a workshop in Phnom Penh, China’s average interest rate on ...

IBM reaffirmed its commitment to the Cambodian market through a two-day event from 5 to 6 October in Phnom Penh which it demonstrated technology solutions for companies and governments of all sizes. With the potential market in Cambodia, IBM targets to set up its full ...

“Cargo transferred to and from the Phnom Penh Autonomous Port (PPAP) is at 121,654.116 tones in September of 2011, increasing 30 percent if comparing to September 2010 with 92,648.796 tones,” according to the report from the PPAP obtained by SEAW on October 3rd. This September report ...

“Singapore will boost Singaporean companies to seek opportunities to invest in Cambodia, especially in the agro-industry,” H.E. Hor Namhong, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, announced on Wednesday morning after bilateral talks with his Singaporean counterpart Excellency Mr. K. Shanmugam, ...

The increasing number of Vietnamese investors gives more potential to the Cambodia market. Saigon Though Tin Commercial Bank (Sacombank), on October 5, opened fully its operation as a foreign bank in Cambodia where before it was just a branch in Phnom Penh after the business ...

The Kingdom’s securities firms have raised concerns about an impending regulation that they said may stunt growth in the country’s fledgling financial markets. The Securities and Exchange Commission of Cambodia is considering a regulation, or prakas, that will require all market participants to maintain a certain ...

Foreign direct investment in the Kingdom soared 250 per cent year-on-year through August even despite the West’s economic woes, Deputy Prime Minister Sok An said yesterday. A total of 87 projects worth US$5.6 billion were approved by the Council for the Development of Cambodia during the ...

Taking advantage of strong economic growth this year, two of the country’s largest banks have posted strong third-quarter earnings. Acleda Bank yesterday reported a net profit of $32.68 million in the first three quarters of the year, almost double the amount over the same period last ...

Trading on the Cambodia Securities Exchange will be delayed once again until the beginning of 2012, Minister of Economy and Finance Keat Chhon said yesterday. He blamed an incomplete regulatory regime and the public’s lack of confidence in the stock market as reasons for the delay, ...

A TelekomunikasiI Indonesia official said yesterday the company had cancelled plans to acquire a majority stake in Cambodian mobile operator CamGSM, just a month after officials at CamGSM parent Royal Group claimed a deal was imminent. Telkom finance director Sudiro Asno made the statement in Jakarta, ...

SACOMBANK yesterday announced the launch of its new subsidiary, the 100 per cent foreign-owned Sacombank Cambodia Plc, which is set to target the Kingdom’s rural population. The Vietnamese commercial bank plans to open branches throughout the country’s provinces to provide banking services to a larger cross-section ...

The dollar figure on government-approved investments in construction for the first eight months of the year increased by 92 per cent compared to the same period in 2010, according to official statistics. The Ministry of Land Management, Urban Planning and Construction approved 1,470 construction projects worth ...

At a Sept 11 meeting between Deputy Prime Minister Sok An and Ganesh C. Thakur, President of the U.S.-based Society of Petroleum Engineers (SPE), plans were discussed about the SPE providing training and expertise for the Kingdom’s oil and gas sector, according to a statement ...