Economy and commerce
Ministry shake-up as AEC integration looms
The Ministry of Commerce is undergoing an internal shake-up to better position itself for the opening up of trade across the region. Commerce Minister Sun Chanthol told the Post yesterday that ahead of Asean Economic Community (AEC) integration in 2015, new divisions were being established and others realigned ...
Daniel de Carteret
http://www.phnompenhpost.com/business/ministry-shake-aec-integration-looms
Schools take funding plan to the bank
Like mob deals and black market trades, the Cambodian school budget is dealt in suitcases of cash. Four times a year, the school operating budget is dispersed in stacks of cash transferred from the central bank to the Ministry of Education, eventually ending up with the ...
Laignee Barron and Chhay Channyda
http://www.phnompenhpost.com/national/schools-take-funding-plan-bank
Rice sector credit boost
The government-backed Rural Development Bank (RDB) will lend $64 million to Cambodia’s agriculture sector in 2014, the bank’s top official said yesterday. Sun Kunthor, president of RDB, said most of the funding would be used to support growth in Cambodia’s rice sector as it strives to ...
Chan Muyhong
http://www.phnompenhpost.com/business/rice-sector-credit-boost
Mercedes halts imports over luxury tax
The sole retailer of Mercedes-Benz cars into the country, Hung Hiep (Cambodia) Co., has suspended imports since January over what it claims is a new import duty on luxury cars coming into the country. Other luxury car importers including Porsche, Audi, BMW and Jaguar Land Rover, ...
George Styllis
http://www.cambodiadaily.com/business/mercedes-halts-imports-over-luxury-tax-56050/
Ho Chi Minh City EXPO 2014 in Cambodia opens in May
The Vietnam-Cambodia International Trade Fair and Exhibitions 2014, also known as Ho Chi Minh City EXPO 2014, will be held at Koh Pich Convention Center in Phnom Penh, Cambodia on May 7-11. ...
Thao Tien
http://www.saigon-gpdaily.com.vn/Business/2014/4/108657/
World Bank raises growth forecast for Cambodia in 2014
The World Bank upwardly revised Monday its GDP growth forecast for Cambodia this year to 7.2 percent, up from its October projection of 7.0 percent. In explaining the higher forecast, the bank’s East Asia and Pacific Economic Update pointed to “the expectation of renewed confidence and ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=YjY5Zjc3MTUwZDg
World Bank says Cambodia has most liberal foreign investment regime in ASEAN
The World Bank says Cambodia has the most open foreign direct investment regime in ASEAN while Thailand has the most restrictive. In a report released Monday, the bank also said that Cambodia had recently emerged as ASEAN’s second-biggest recipient of foreign direct investment in the agricultural ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=OGM2MTVmYTQ0NTM
Cambodia leads doubts over AEC
In a rare moment of honesty a Cambodian official has admitted his doubts about his country’s ability to meet regional expectations in time for the launch of the much vaunted ASEAN Economic Community (AEC) by the end of 2015. “If you talk about short-term: Yes, we ...
Luke Hunt
http://thediplomat.com/2014/04/cambodia-leads-doubts-over-aec/
Python peddler arrested
Police in Kandal province’s Koh Thom district seized a shipment of live pythons en route to market in Vietnam on Friday, arresting the accused smuggler and turning the snakes over to conservation group Wildlife Alliance, police said yesterday. ...
Kim Sarom
http://www.phnompenhpost.com/national/python-peddler-arrested
Angkor ready for surge of tourists
Siem Reap hotel operators are preparing for a deluge of tourists this Khmer New Year season the likes of which is not often seen, tourism officials say. Chheuy Chhorn, deputy director of Siem Reap’s tourism department, said after attracting 170,000 visitors to the first annual Angkor ...
Hor Kimsay
http://www.phnompenhpost.com/business/angkor-ready-surge-tourists
Paddy rice farms curb losses from lost land
Cambodian paddy rice production fell only slightly during the first half of this year’s dry season, despite 12,000 hectares of usually productive land deemed unusable due to last year’s floods. According to the Ministry of Agriculture, Forestry and Fisheries, dry season paddy rice production between December ...
Chan Muyhong
http://www.phnompenhpost.com/business/paddy-rice-farms-curb-losses-lost-land
Linking the worst factories with the labels
The building that housed USA Fully Field Garment factory in Phnom Penh’s Meanchey district stands empty now. The grounds are littered with garbage and boxes full of dusty brand labels that were stitched onto clothes by almost 400 workers before the factory owner fled in ...
Simon Henderson and Khy Sovuthy
http://www.cambodiadaily.com/news/linking-the-worst-factories-with-the-labels-55839/
Labor Ministry, ILO set out plan for minimum wage reforms
Facing public pressure from major garment brands and labor unions, the Ministry of Labor and the International Labor Organization (ILO) will cooperate in the coming months to reform the current system of setting the minimum wage in the garment sector. The reform process will begin with ...
Aun Pheap and Colin Meyn
http://www.cambodiadaily.com/news/labor-ministry-ilo-set-out-plan-for-minimum-wage-reforms-55869/
Capturing corruption in modern Cambodia
Towering temples and graceful apsaras are missing from a new Cambodia-themed photo show. Instead, camera lenses focused on corruption. The photos show poverty, inadequate sewage systems and parking squeezes at markets. Contest rules allowed photos to be staged—as long as contestants clarified that a photo was ...
Emily Wilkins
http://www.cambodiadaily.com/news/capturing-corruption-in-modern-cambodia-55812/
Railway audit finds poor maintenance of tracks
Toll Royal Railway, the private operator of Cambodia’s train service, has no system in place to regularly inspect the state of its tracks, and lacks qualified inspectors to check either tracks or bridges, according to a recent safety audit of the firm’s Phnom Penh operations. The ...
Zsombor Peter and Aun Pheap
http://www.cambodiadaily.com/news/railway-audit-finds-poor-maintenance-of-tracks-55756/
Fish exports fail to impress
Cambodian fishery exports rose slightly during the first three months of the year, according to a report by the Ministry of Agriculture, Forestry and Fisheries. The report, which was released yesterday, says that fish exports reached 4,800 tonnes in the first quarter, a year-on-year increase of ...
Chan Muyhong
http://www.phnompenhpost.com/business/fish-exports-fail-impress
Cambodian parliament ratifies protocol on Cambodia-Vietnam investment agreement
The National Assembly of Cambodia on Thursday ratified a protocol on the investment promotion and protection agreement between the governments of Cambodia and Vietnam. All 64 lawmakers of the ruling party, who were present at the parliamentary session, unanimously approved the protocol as the opposition party’s ...
Global Times News Staff
http://www.globaltimes.cn/content/852568.shtml#.Uz4WwfmSxqU
Child labor probe on Preah Vihear sugar plantation moves forward
Police in Preah Vihear province say they have uncovered more evidence of child labor on a Chinese-owned sugarcane plantation and will send the case to court if further investigation confirms their preliminary findings. A former employee of the Lan Feng plantation filed a complaint last month ...
Khy Sovuthy
http://www.cambodiadaily.com/news/child-labor-probe-on-preah-vihear-sugar-plantation-moves-forward-55643/
Downtown residences for lease
Less than a year after all refurbishments were completed on Hongkong Land’s Central Mansions – formerly Colonial Mansions – the classic residential units in the heart of Phnom Penh’s burgeoning financial, government and office-rental district are enjoying occupancy rates of close to 100 per cent, ...
Post Staff
http://www.phnompenhpost.com/real-estate/downtown-residences-lease
Paint sales grow with investment in the construction sector
Economic growth and increasing investment in construction have facilitated sales of paint this year. Thas Chantrea, sales manager of Jotun Cambodia, said his company’s sales of paint products from Thailand and Malaysia saw an increase of 50 per cent in the first quarter of this year ...
Siv Meng
http://www.phnompenhpost.com/real-estate/paint-sales-grow-investment-construction-sector
Beer poised to earn big during New Year season
Grocery and beer sales are expected to spike during April as Khmer New Year preparations ramp up, retail industry officials said yesterday. Hy Ramy, managing director of HRM (Cambodia) Group, a food and beverage distribution company specialising in canned foods, condiments and beverages, said he expects ...
Hor Kimsay
http://www.phnompenhpost.com/business/beer-poised-earn-big-during-new-year-season
Cambodian, Thai stock market regulators ink cooperation deal
Cambodian and Thai securities market regulatory authorities on Wednesday signed a Memorandum of Understanding (MoU) on consultative cooperation and information exchange in stock markets. The deal was inked between Ming Bankosal, director general of the Securities and Exchange Commission of Cambodia (SECC), and Vorapol Socatiyanurak, secretary ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-04/02/c_133233007.htm
Cambodian rice exports fall in Q1
As Thailand sells its rice reserves and reforms in Myanmar are rewarded with more access to markets abroad, Cambodia’s total exports of milled rice are on the decline, falling more than 10 per cent in the first quarter of this year compared with the same ...
May Kunmakara
http://www.phnompenhpost.com/business/cambodian-rice-exports-fall-q1
Unions, GMAC tussle over New Year strike
Garment worker unions have tangled with factory owners over the unions’ plan to use the coming Khmer New Year holiday to launch a nationwide strike. A coalition of eight unions will send a letter today to the Garment Manufacturers Association in Cambodia (GMAC) stating that workers ...
Mech Dara and Matt Blomberg
http://www.cambodiadaily.com/news/unions-gmac-tussle-over-new-year-strike-55543/