News

500 sq km of land from three conservation areas have been granted by the Cambodian government to agribusiness companies. Prime Minister Hun Sen has approved 50,750 hectares, through nine concessions, to be granted areas of land that were previously conservation areas. Reththy Kiri Sakor Co. ...

The Cambodian Stock Exchange(CSX) has prepared its initial public offerings in a symbolic launch, though no public trading was offered. Finance Minister Keat Chhon and his South Korean partners hold a 49 percent stake in exchange. Two state-owned companies will go public including: the Phnom ...

The National Bank of Cambodia (NBC) is thinking of raising the reserve required for banking deposits. The aim is to slow inflation and lessen the chance of an economic meltdown. The NBC is considering raising the rate after inflation reached 6.5 percent in May compared ...

Cambodia’s Agriculture Ministry has announced plans to increase the annual production of silk from 4 tons to 400 tons by 2020. Cambodia primarily relies on silk from Vietnam and China. The project is entitled the Silk Rehabilitation Project and is funded by the UN Food ...

The Asian Development Bank (ADB) has released figures which show they believe that the Cambodian economy will grow between 6.8 and 7 percent in 2013 and 6.8 percent in 2012. Their reporting sites the growth in the Cambodian garment industry as a major factor. The ...

Residents of Borei Keila in Phnom Penh are protesting their resettlement. They were promised housing by Phanimex Company in exchange for the land they gave to the developers, who are said to not completed their side of the deal. So far only 7 of 10 ...

GS Engineering & Construction broke ground on June 18, 2008 of Cambodia’s largest building the International Finance Complex in Phnom Penh but since then has been suspend or forced to downscale like all of the other building projects in the city. Worth more than $4.5 ...

Two protestors of CPP Senator’s project to develop Boeng Kak Lake have been arrested after a breakdown in negotiations between city hall and the 1,500 lakeside families who were protesting. The negotiations were concerning the sort of onsite housing the families would receive as compensation ...

Sonatra Securities a designated broker has launched its operations in Cambodia ahead of the launch of the Cambodian Securities Exchange (CSX). As one of the four companies licensed by the Securities and Exchange Commission of Cambodia, Sonatra will be able to buy and sell shares ...

The Asian Development Bank (ADB) is focusing on lending to the agriculture, education, finance, water supply and transport sectors in Cambodia as part of its three year Country Partnership Strategy, worth $500 million. $377 million will be allocated to 12 projects in the five mentioned ...

Exports of rice from Cambodia have quadrupled in the first part of 2011 according to the Ministry of Commerce. Rising international prices along with high domestic yields have spurred the growth to 80,442 tons of rice being exported compared to 17,144 tons the previous year ...

Rights groups have alleged that villagers are being pushed off their land to make way for sugar plantations by companies such as LYP Group, owned by Senator Ly Young Phat. The issue was raised with the Finnish Foreign Minister Erkki Tuomuoja and the Minister for ...

7 unions working together have said that they refuse to support a union law that has been drafted as the government has ignored their recommendations.  The potential legislation is said to be prohibitively restrictive and the unions have said they will boycott by organizing peaceful ...

Fish yields have supposedly dropped by 20 to 30 percent according to fisherman, as a result of the destruction of natural marine environments such as mangroves and the increase in the number of people fishing. Ministry of Agriculture, Forestry and Fisheries estimated the total number ...

The Asian Development Bank (ADB) has said that the rehabilitation of Cambodia’s railways will not be at the expense of those who live along the lines and has pledged to address the issue. Resettlement has been a problem for the rehabilitation but a new plan ...

Registered businesses have increased in number by 37 percent to approximately 1,528 compared with the same period for 2010. Cambodian Chamber of Commerce officials say that the number of entrepreneurs has increased with them focusing on textiles, agriculture and construction. Cambodia currently has an export ...

15 new projects worth a total of $110 million have been approved by Cambodia’s investment board in May. The Council for Development of Cambodia has approved two rubber plantations worth $60 million. Cin Qian Investment Co, a Chinese firm, has been approved for developing a ...

Prime Minister Hun Sen has officially allowed the privatization of 2,580 square meters of state owned land. 646 square meters of the land are in Phnom Penh. The sub-decree means that the land is closer to being eligible for development and sale. ...

The former deputy director of Anco Groups conglomerate and his wife have been denied bail when accused of stealing nearly $40 million. Anco Groups conglomerate is a consumer good vendor, electricity and hotel operator and is owned by Kok An. If convicted the former deputy ...

Prime Minister Hun Sen helped inaugurate the fourth bridge built by the Chinese in Cambodia. The $33 million bridge will span the Tonle Bassac river at Takhmau City. In Phnom Penh, a fifth bridge, dubbed the Cambodian-Chinese Friendship bridge is about to begin construction. ...

Cambodia has approved the creation of a footwear association under the umbrella of the Garment Manufacturers’ Association in Cambodia. 37 of the country’s 38 footwear factories agreed to the creation of a representative body for their industry. The footwear industry is said to have exported ...

Gold in Mondolkiri is at the center of a dispute between OZ Minerals and Shin Ha Mining Co Ltd after an alleged breach in contract. OZ Minerals bought out Shin Ha Mining Co Ltd from their joint venture without paying the true value of the ...

After the So Ngoun Company sprayed pesticides in Kampot province approximately 90 villagers have become ill. They are being treated for vomiting, diarrhea, and dizziness after drinking contaminated water, as the pesticide flowed downstream after some rains. The pesticide was sprayed in order to rid ...

Japanese fund manager Asset Design plans to launch a Cambodian equities fund in late 2011. The fund would target large returns after the Kingdom opened its stock exchange this month, an Asset Design executive said yesterday. Asset Design expected the scale of the fund to ...