Economy and commerce
Trade
Cambodia issues licenses to 2,606 new firms in 9 months, up 11 percent
Cambodia had granted operating licenses to 2,606 new companies in the first nine months of this year, a 11 percent rise from 2,336 new firms at the same period a year ago, the report of the Commerce Ministry showed Wednesday. Those companies are dealing in the ...
New Businesses Increase In First Nine Months
A total of 2,606 new businesses were registered in Cambodia during the first nine months of the year, an increase of 11.6 percent compared to the same period last year, data released yesterday by the Ministry of Commerce shows. According to the figures, the ministry approved 306 new ...
Export diversity induces growth
In order for Cambodia to maintain the same rate of growth it has enjoyed in the past few years, exports need to diversify from textiles and tourism to modern services, said the World Bank’s country manager yesterday in Phnom Penh. “Cambodian firms are already tentatively exporting ...
http://www.phnompenhpost.com/index.php/2012102459390/Business/export-diversity-induces-growth.html
Record number of participants for the 9th ASEAN Business & Investment Summit
The South East Asian business elite and 16 Heads of States and Governments will meet in Phnom Penh when the 9. ASEAN Business & Investment Summit will be held as an official side event to the ASEN Leaders Summit and the ASEN Leaders Summit (EAS) “Interest ...
http://www.scandasia.com/viewNews.php?coun_code=fi&news_id=11360
Onyx looks to Asean presence
Onyx Hospitality Group is looking to expand its portfolio to the “CLMV” countries of Cambodia, Myanmar, Laos and Vietnam, as well as to Malaysia, as it positions itself to reap the benefits of upcoming Asean economic integration The Thailand-based hotel group, whose goal is to become ...
http://www.nationmultimedia.com/business/Onyx-looks-to-Asean-presence-30192840.html
Garment maker eyes economic zone in Cambodia
The private company HOdo Group Co Ltd, a textile and garment company in Wuxi, Jiangsu province, is looking to expand its presence in Sihanoukville, a province in southern Cambodia, in an attempt to diversify its business. Zhou Haijiang, president of the company, said it has made ...
http://www.chinadaily.com.cn/cndy/2012-10/23/content_15837895.htm
Royal Palace Road Closures Are Crippling Local Businesses
Owners of local businesses along six streets near the Royal Palace that have been closed to prevent excessive noise during the three-month mourning period for late King father Norodom Sihanouk said yesterday that the road blocks are having a negative impact on their trade. Gated roadblocks ...
Thailand cracks down on exploitative factory
In a rare intervention, the Thai Labor Ministry has stepped in to stop the exploitation of migrant workers from Cambodia and Myanmar at a seafood factory in the country’s south, correspondence obtained by the Post reveals. The ministry found the Phatthana Seafood factory, in Songkhla province, which employs ...
FedEx opens new air freight hub
FedEx has officially opened its new South Pacific Regional Hub in Singapore, the largest consolidated facility in the Asia-Pacific region. The $97 million hub is the first and only express transportation facility in Singapore. The 282,700-square-foot integrated facility houses air, ground and clearance operations under one roof ...
http://www.supplychainreview.com.au/news/articleid/81499.aspx
Higher costs forcing Chinese firms to relocate to Southeast Asia
China’s rising wages and shrinking export demand are forcing manufacturers to relocate to neighbouring Southeast Asian nations and many that remain are seriously considering moving, a foreign trade official from the Ministry of Commerce said Buyers have “turned their eyes to manufacturers from Southeast Asian countries”, ...
http://my.news.yahoo.com/higher-costs-forcing-chinese-firms-relocate-southeast-asia-091002927.html
Cambodia records almost US$2-B trade deficit in 9 months
Cambodia reported a trade deficit of 33% in equivalent to US$1.99-B in the 1st 9 months of this year, the report of the Ministry of Commerce showed Saturday ...
http://www.livetradingnews.com/cambodia-records-almost-us2-b-trade-deficit-in-9-months-90475.htm
Cambodia's Trade Deficit Grows to Almost $2 Billion
Cambodia’s trade deficit reached $1.99 billion through the first nine months of the year, an increase of 33 percent compared to the same period in 2011, according to data released by the Ministry of Commerce on Saturday. Chinese state news agency Xinhua reported that the total value ...
Cambodia's Ancient Silk Industry Hangs by a Fine Thread
Welcome to Cambodia’s lone Silkworm Egg Production Center, and to the techniques that are being used to prevent and monitor diseases that are currently killing off more than 50 percent of all silkworm production in the country. Established by the U.N.’s Food and Agriculture Organization (FAO), ...
http://www.cambodiadaily.com/business/cambodias-ancient-silk-industry-hangs-by-a-fine-thread-4662/
NGOs Ask Asean for More Say on Human Rights
Less than a month before Asean heads of state are expected to approve the first-ever human rights declaration for the regional group, Cambodian and Indonesian NGOs yesterday urged member states to give their organizations a larger role in the process. In the works for more than ...
U.S., S. Korean, Chinese, Japanese leaders to attend 21st ASEAN Summit in Cambodia
U.S. President Barack Obama, South Korean President Lee Myung-bak, Chinese Premier Wen Jiabao and Japanese Prime Minister Yoshihiko Noda have already confirmed their participation in the 21st ASEAN Summit and related Summits here on Nov. 15-20, said Cambodia’s Foreign Minister Hor Namhong on Monday. ...
http://news.xinhuanet.com/english/world/2012-10/22/c_131922509.htm
AHAVA expanding to 7 more countries
AHAVA Dead Sea Laboratories is expanding its international activity Dead Sea products to be sold in Poland, Italy, Switzerland, Korea, Greece, Denmark and Cambodia. Company CEO expects 10% growth in sales in coming year “In Phnom Penh, the Cambodian capital, we are operating through a franchisee’s store, ...
Cambodia's garment export reaches 3.54 bln USD in 8 months, up 11%
Cambodia has exported garment and textile products in equivalent to 3.54 billion U.S. dollars in the first eight months of 2012, a 11 percent rise from 3.19 billion U.S. dollars at the same period last year, a report from the Commerce Ministry showed Friday According to ...
http://news.xinhuanet.com/english/business/2012-10/19/c_131916898.htm
Exports hold up despite EU slowdown
Cambodia has coped well in terms of exports despite the slowdown in some European economies, said the head of the IMF’s Asia-Pacific department last week. Anoop Singh, director for the department, said Cambodia has enjoyed many years of economic growth at about 6 per cent or ...
Cambodia has potential for social businesses
Despite challenges, Cambodia has potential for the establishment and expansion of social businesses, participants of the Microfinance & Social Business Conference in Phnom Penh said yesterday. While social business in Cambodia is still in an early phase compared to micro-finance “Cambodia is a promising land” for such ...
Vendors Capitalize on King Father Keepsakes and Memorabilia
Vendors at the Royal Palace were doing a brisk trade yesterday, as people wanting to own a little piece of history- King Father Norodom Sihanouk memorabilia- purchased photographs of the late monarch, as well as freshly printed T-shirts bearing late King’s image. Almost immediately after news ...
Mekong River threatened by transport of dangerous goods
The Mekong River Commission has released a comprehensive risk analysis of the transport of dangerous goods and issued recommendations to prevent oil spills, industrial waste and other emerging threats from navigation. Developed by the MRC Navigation Programme in Phnom Penh, the risk analysis finds that the ...
Xiamen expected to set up sister city relationship with Cambodia's Kampot
Cambodia may set up a consulate in Xiamen in the near future, and the Cambodian port city of Kampot is expected to establish sister city relationship with Xiamen, reported Haixi Morning News on Wednesday. Cham Prasidh, Cambodian Minister of State and Minister of Trade and Commerce, ...
Franchise industry expands
Cambodia’s growing economy and hunger for new brands, particularly among young people, contribute to making Cambodia a profitable market for the franchise business, industry insiders said at the Franchising Forum in Phnom Penh last week. [Rami Sharaf, CEO of RMA Group in Cambodia] said Cambodia is ...
http://www.phnompenhpost.com/index.php/2012101859294/Business/franchise-industry-expands.html
Prices rise during mourning
Flower prices soared considerably due to the official mourning period of Cambodia’s former king, Norodom Sihanouk, according to vendors. Crowds of people set upon flower shops at different markets in Phnom Penh, where tens of thousands of mourners participated in paying their respects to the former ...
http://www.phnompenhpost.com/index.php/2012101859296/Business/prices-rise-during-mourning.html