Economy and commerce
Poverty line $120, gov’t says
Workers in Cambodia’s capital earning less than $120 per month are living below the poverty line, according to the Ministry of Planning’s own calculation. At a September 17 workshop on the garment industry minimum wage, International Labor Organization Cambodia national director Tun Sophorn cited Ministry of ...
Sean Teehan
http://phnompenhpost.com/national/poverty-line-120-gov%E2%80%99t-says
New mall to open in late 2015
Global commercial real estate firm CBRE has put the call out for retail tenants for the new Parkson City Centre Mall, which stands to become the second foreign mall developer to open in the Kingdom in as many years. ...
Eddie Morton
http://phnompenhpost.com/business/new-mall-open-late-2015
US retailers express support for Cambodian living wage
As a new round of Cambodian wage negotiations approaches this month, major U.S. and European retailers who source from the country say they will be watching the talks carefully and want to see fair pay for workers. Representatives of the brands like Gap, Levi Strauss, and ...
Kimseng Men
http://www.voanews.com/content/us-retailers-express-support-for-cambodian-living-wage/2470747.html
KrisEnergy formally takes over as operator of Cambodia's offshore Block A
Singapore-based KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, referred to the announcement dated Aug. 11 in relation to the acquisition of the entire issued and paid up share capital of Chevron Overseas Petroleum (Cambodia) Limited (COPCL) and announces the ...
Rigzone News Staff
http://www.rigzone.com/news/oil_gas/a/135266/KrisEnergy_Formally_Takes_Over_as_Operator_of_Cambodias_Offshore_Block_A
Lack of construction regulations a concern
Cambodia is experiencing a runaway property boom that must be constrained by laws and regulations in order to draw investment from European developers, which are largely absent in the country, experts said at an industry conference in Phnom Penh on Wednesday. Simon Griffiths, senior manager at ...
Kang Sothear and George Styllis
http://www.cambodiadaily.com/business/lack-of-construction-regulations-a-concern-68862/
Resintech to tap into rubber plantation with joint venture in Cambodia
Resintech Bhd, a local Polyethylene and poly vinyl chloride (PVC) pipe manufacturer, will tap into the rubber plantation sector in a bid to diversify its business segment given the healthy outlook on the rubber industry. Resintech’s managing director Datuk Teh Kim Poo said that according to ...
Cambodia needs more investments and global integration – Moody's
Cambodia needs increased investments, and for that, deeper regional as well as global integration is crucial, Moody’s Investors Service has said. The B2 sovereign bond rating is constrained by the small size of the economy, low per capita income and high level of dollarization while robust ...
Boby Michael
http://www.ibtimes.co.uk/cambodia-needs-more-investments-global-integration-moodys-1467675
CP looks to double pig production
CP Cambodia, a subsidiary of Thai conglomerate Charoen Pokphand Company Limited, has confirmed plans to double its swine production by 2019 to meet Cambodia’s demand for pork products. ...
Chan Muyhong
http://phnompenhpost.com/business/cp-looks-double-pig-production
Minister says wage agreement must be reached next month
Negotiations held on Friday between garment factory owners, union leaders and government officials failed to set a new industry minimum wage for next year, but a final decision will be reached by October 10, according to Labor Minister Ith Sam Heng. The tripartite Labor Advisory Council ...
Sek Odom and Holly Robertson
http://www.cambodiadaily.com/news/minister-says-wage-agreement-must-be-reached-next-month-68532/
US-bound cargo from Cambodia to face enhanced scrutiny
Cargo headed to the U.S. from Cambodia will face added scrutiny due to what the U.S. Homeland Security calls inadequate security measures. According to the Cambodia Daily, U.S. authorities asked Cambodia ports to put additional security measures in place for several Cambodia ports in 2008, but ...
Corianne Egan
http://www.joc.com/port-news/asian-ports/us-bound-cargo-cambodia-face-enhanced-scrutiny_20140926.html
ADB firms up growth prediction
The Asian Development Bank (ADB) has maintained its growth projections for Cambodia in 2014. The ADB’s midyear outlook for Cambodia, released yesterday, states that Cambodia’s economy still stands to achieve 7 per cent growth by the end of the year, and potentially 7.3 per cent in ...
Eddie Morton
http://phnompenhpost.com/business/adb-firms-growth-prediction
Cambodia's garment, footwear exports up 12.6 pct in 7 months
Garment and footwear industry, Cambodia’s largest income earner, reported a 12.6 percent rise in exports in the first seven months of 2014, according to the data of the Ministry of Commerce on Thursday. The country exported apparel and footwear products worth 3.47 billion U.S. dollars during ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/world/2014-09/25/c_133672486.htm
Asia Pacific travel trade show kicks off in Cambodian capital
The Asia Pacific region’s largest travel trade show–PATA Travel Mart 2014–kicked off at Diamond Island here on Wednesday evening, aiming to promote tourism industry. The 3-day PATA (Pacific Asia Travel Association) Travel Mart 2014 brought together more than 1,000 delegates from over 60 countries and regions ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=241476
Cambodian telecom firm cooperates with China's Huawei to build 4G network in Cambodia
Cambodian telecommunications company EMAXX signed a contract with China’s Huawei, a global ICT solutions provider, on Wednesday in order to develop EMAXX’s 4G network in Cambodia. The contract was inked between Ai Min, chief executive officer of EMAXX, and Weng Kefeng, deputy general manager of Huawei ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/china/2014-09/17/c_133650709.htm
EU gives $3.9 million to attract investment
The European Union will spend €3 million ($3.9 million) on a program to encourage small and medium enterprises to invest in Cambodia. Speaking at a conference yesterday in Phnom Penh, EU Ambassador to Cambodia Jean-Francois Cautain said the five-year grant – to be managed by EuroCham ...
http://phnompenhpost.com/business/eu-gives-39-million-attract-investment
http://Daniel de Carteret
LOLC Group acquires 60 pct stake in Cambodian Microfinance Company for USD 20.3 Mn
Sri Lanka’s Lanka Orix Leasing Company acquired a 60 percent stake in Thaneakea Phum Cambodia (TPC) a microfinance company in Cambodia, for 20.3 million US dollars, identifying the immense potential in emerging economies of the South East Asian region the company said in a media ...
Lanka Business Online News Staff
http://www.lankabusinessonline.com/news/lolc-group-acquires-60-pct-stake-in-cambodian-microfinance-company-for-usd-20.3-mn/1806143502
China-invested airlines to launch flights in Cambodia
A China-invested Apsara International Air is going to launch flights in Cambodia later this month after it has received an air operator certificate from the Cambodia’s Civil Aviation, the company’s chief executive officer Zhang Xiaopeng said Monday. ...
Ecns.cn News Staff
http://www.ecns.cn/business/2014/09-16/134669.shtml
CSX moves from Canadia Tower to new building
The Cambodia Securities Exchange (CSX) last week made its long awaited move from the 25th floor of Phnom Penh’s Canadia Tower to its new home in a $4-million French colonial-era building on Street 106. The CSX officially moved into the two-story building on September 8, according ...
George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/csx-moves-from-canadia-tower-to-new-building-68091/
NagaCorp commissions independent report on AML risk
NagaCorp Ltd, the operator of the NagaWorld casino resort (pictured) in Phnom Penh, Cambodia, says it has commissioned “an independent professional party to review the internal controls of the company and its subsidiarieswith a focus on anti-money laundering”. The firm gives the information in its interim ...
GGRAsia News Staff
http://www.ggrasia.com/nagacorp-commissions-independent-report-on-aml-risk/
Cambodian PM, businessmen head to Nanning for 11th ASEAN-China Expo
Cambodian Prime Minister Hun Sen, accompanied by businesspeople and senior officials, flew to Nanning City of southwest China’s Guangxi province on Monday to attend the 11th ASEAN-China Expo. Senior officials accompanying the prime minister included Commerce Minister Sun Chanthol, Governor of the National Bank of Cambodia Chea ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/china/2014-09/15/c_133643051.htm
Opening new flight paths between Seychelles and Asia - air service agreement signed with Cambodia
Plans to establish air links between Seychelles and the Asian nation of Cambodia are being finalised following the signing of a memorandum of understanding and air service agreement between the two sides. The signing by the Secretary of State of the State Secretariat of Civil Aviation of Cambodia, Mao Havannall, and ...
Sonatra takes one-year hiatus
Local stock brokerage company Sonatra Securities has announced it will completely dilute its books and put a halt on all business activities from October 1. In a press release posted on Sonatra’s website last week, the firm stated without an explanation that it was suspending all ...
Hor Kimsay
http://phnompenhpost.com/business/sonatra-takes-one-year-hiatus
Israeli businessmen interested in cassava investment in Cambodia
A group of investors from Israel showed their interest in investing in cassava in Cambodia, according to a statement by Ministry of Commerce. Chanthol expressed his support for this cassava investment project and recognized the importance of advance technology in agriculture production and processing to ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=ZGY4NjczNGZhNTY
Cambodia can gain a decent share in Chinese rice import market, say experts
A U.S. based agriculture consultancy firm has urged Cambodia rice exporters to focus on promoting their exports to the Chinese market as it has a huge untapped potential for more imports in the future, according to local sources. ...
Oryza News Staff
http://www.oryza.com/news/rice-news/cambodia-can-gain-decent-share-chinese-rice-import-market-say-experts