News
Nine Companies Barred From State Projects for Not Paying Tax
The Ministry of Finanace in August barred nine local companies from working on government infrastructure projects for allegedly failing to pay tax owed on several projects funded by foreign money, government and company officials said yesterday. The move by Finance Minister Keat Chhon to freeze ...
Report Says Reforms Were Hard to Drill Home at Petrol Authority
The Cambodian National Petroleum Authority restricted vital information and failed to cooperate with consultants working for the Asian Development Bank who were deployed to the authority between 2007 and 2010 as part of a $1 million project to strengthen governance at the body, a new ...
World Bank Influence Curbed by ‘New’ Donors
The World Bank is losing influence in Cambodia to “emerging donors” and making no major headway in stemming corruption, the Bank’s Independent Evaluation Groups said in a report released Wednesday. Specifically focused on the World Bank;s 2007 anti-corruption initiative through 2010, the report uses six ...
Digging deep outside the law
Weak enforcement of mining laws excludes local communities from the decision-making process and smudges the revenue transparency, said George Boden, a campaigner at watchdog group Global Witness. Weak enforcement of mining laws excludes local communities from the decision-making process and smudges the revenue transparency, said ...
http://www.phnompenhpost.com/index.php/2011090251412/Business/digging-deep-outside-the-law.html
Exports to be unaffected by debt crisis
As Cambodian exports continue to grow, commerce officials predict sovereign debt crises in the United States and Europe will not threaten the sector. Total exports surged by more than 46 per cent to US$2.677 billion in the first seven months of the year, compared to ...
Fainting link to Canadian cold
Women who had fainted in a poorly ventilated garment factory on the outskirts of Phnom Penh on Wednesday morning were making winter coats to be sold at Walmart stores in Canada, it was revealed yesterday. Executives with Taiwanese-owned Heart Enterprise (Cambodia) Ltd also confirmed reports ...
Major bank downgrade
Moody’s Investors Service announced yesterday it had downgraded the credit rating of ACLEDA Bank, citing the departure of two of the bank’s major investors in as many years. The loss of a second big sharehol-der in the first half of this year had led to ...
http://www.phnompenhpost.com/index.php/2011090251414/Business/major-bank-downgrade.html
England Promises to Invest US$ 2.22 Billion in Cambodia
England promised to invest in Cambodian around US$ 2.22 billion make total investment projects in country during 7 month of the year increased up to US$ 5.5 billion, Council for Development of Cambodia (CDC)’s reported to the media. According to the report, in the first ...
U.S.-Cambodia Looking for Investment Possibilities to Boost Economic Ties
Phnom Penh– A group of U.S. investors from the U.S.-ASEAN Business Council on Thursday visited Cambodia to observe investment opportunities and to boost trade and investment ties between U.S. and ASEAN member countries. The group consisted of 11 U.S. firms led by Frances Zwenig, the Counselor ...
Hands-on contest a hit in Cambodia
Long a popular fixture of US TV and radio competitions, “Hands on a Hardbody,” a marathon endurance contest where participants vie to hold their palms against a car the longest in order to win it, has expanded to Cambodia. More than 80 participants took part ...
Capital’s growth pushes housing demand
Phnom Penh’s growing population is driving demand for residential property, with approvals soaring in the first seven months of this year, according to Lao Tip Seiha, director of the construction department at the Ministry of Land Management, Urban Planning and Construction. A total of 227 ...
Tourism stronger than predicted
The Kingdom’s tourism industry this year will perform much better than the government expects thanks in part to Cambodia’s growing popularity as a vacation destination, investment firm Cambodia Capital has said. Total tourist arrivals to Cambodia for 2011 will reach 2.85 million, while total revenues ...
http://www.phnompenhpost.com/index.php/2011090151407/Business/tourism-stronger-than-predicted.html
Exchange officials explain IT system
Stock exchange officials were conducting a five-day workshop on the IT system that will allow trading, Securities and Exchange Commission of Cambodia director-general Ming Bankosal said yesterday. The workshop, held in conjunction with the Cambodia Securities Exchange, would also seek feedback on the system’s functionality ...
Fainting factory told to act
Another garment factory within the International Labour Organisation’s Better Factories program was hit by a mass fainting incident yesterday. More than 50 employees of Heart Enterprise (Cambodia) Co Ltd began collapsing soon after starting their shift at the facility, in Phnom Penh’s Dangkor district. An ...
http://www.phnompenhpost.com/index.php/2011090151398/National-news/fainting-factory-told-to-act.html
Climate Change Poses Major Threat to Cambodia’s Rural Poor
The Cambodian economy faces major problems for its predominantly rural population in the event of more erratic climate shifts, according to the United Nations Development Programme’s 2011 Cambodian Human Development Report. “This is an agrarian economy that depends very much on weather. And we are among the ...
‘Rice Dubai 2011’ Sees Dubai as Thriving Re-export Market
DUBAI — The Founding Committee of Rice Dubai 2011 is led by a businessman in Dubai, Dr Faisal Ali Mousa who will lead a core delegation to Cambodia in the first week of September to explore the possibilities of the Royal Government of Cambodia entering ...
Suthep Denies Secret Talks With P. Penh Negotiations Stalled Over Marine Oil, Gas
Democrat MP for Surat Thani Suthep Thaugsuban denies he held secret talks with Cambodian officials about oil and gas interests in the overlapping marine area during the tenure of the Democrat-led government. Mr Suthep, a former deputy prime minister, conceded yesterday he met Cambodian Deputy Prime ...
http://www.bangkokpost.com/news/local/254429/suthep-denies-secret-talks-with-p-penh
'Land Grabs' Mar Cambodia's Boom, Rattle Investors
Phnom Penh–Kong Song’s farmland was his family’s livelihood for three decades until the bulldozers moved in and tore down his home in rural Cambodia to make way for a multimillion dollar foreign-led business. His family was one of 253 forcibly evicted five years ago in southern ...
http://www.reuters.com/article/2011/09/01/cambodia-evictions-idUSL3E8JD2DV20110901
Property Developers Seek Ministry Licenses
Several property developers ave approached the Ministry of Finance to ask for licenses after the ministry warned buyers last month not to purchase housing fro developers who are not licensed to sell their properties. The ministry’s warning, issued Aug 11, identified three local developers that ...
Cruise Ship Arrivals Dip 31% in First Half
The number of visitors arriving by cruise ship in Sihanoukville dropped steeply in the first six months of the year compared to the same period last year, a Tourism Ministry official said yesterday. A lack of attractions in Sihanoukville and high visa fees were keeping ...
At Least 50 Garment Workers Faint Over Two Days
At least 50 garment factory workers fainted over the past two days in Phnom Penh’s Dangkao district, bringing the number of workers who have fainted in the district in August to 60, workers and union members said yesterday. N Tuesday, workers from Heart Enterprise Cambodia ...
Land Rights Still Unclear in Pheapimex Dispute
Following a decision in March to give land back to residents of 13 communes in Pursat province from a vast economic land concession belong to the conglomerate Pheapimex, boundaries have yet to be drawn, and ownership of the land still remains unclear, residents and a ...
Land Tycoon Lavishes Largesse on Sanctuary Staff
Officials working in Boeng Per Wildlife Sanctuary and in nearby communities said yesterday that they were receiving new motorbikes and digital cameras from businessman Try Pheap, who in recent months received large-scale rubber concessions in the Preah Vihear province sanctuary. Earlier this week, it was ...
Court Extends Fee-Payment Deadline n K Chhnang Land Dispute
Kompong Chhnang Provincial Court has extended a deadline for 52 villagers embroiled in a long-standing land dispute with a development company owned by the wife of Minister of Industry, Mines and Energy Suy Sem to pay court fees, a court official and rights workers said ...