Economy and commerce
Britain eyes 5 bln USD trade volume with Cambodia by 2020: envoy
British Prime Minister’s Trade Envoy David Puttnam said Thursday that the country looked to boost bilateral trade volume with Cambodia to $5 billion by 2020. “The bilateral trade between the UK and Cambodia reached $1 billion last year and we expect the trade volume will hit ...
Global Times
http://www.globaltimes.cn/content/846621.shtml#.UxlBOD-Sylt
Cambodia could lose competitive edge in bicycles: report
Cambodia could lose its competitive advantage in bicycle manufacturing and assembly, an industry source says. In a report from the Taipei Cycle Show late Wednesday, the US-based Bicycle Retailer and Industry News said Cambodia had used low wages and zero tariffs in the European Union to ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=OGJjZWE0MTM4YzR
Cambodia's trade with ASEAN hit US$4.16 Billion last year
Cambodia’s trade volume with Asean member states reached US$4.16 billion last year, up 12 percent from US$3.71 billion in 2012, Xinhua news agency reported. In the Commerce Ministry’s report released Wednesday, Cambodia exported products equivalent to US$482 million to the Association of Southeast Asian Nations (Asean) ...
Bernama News Staff
http://www.bernama.com.my/bernama/v7/wn/newsworld.php?id=1019495
City bus operation awarded on basis of ‘verbal’ contract
The Chinese-owned company that began operating Phnom Penh’s new public bus service Wednesday secured its five-year deal on the basis of a verbal agreement and has not yet signed a formal contract with City Hall, the company’s CEO said. Lim Andre, the CEO of Global (Cambodia) ...
Simon Henderson and Hul Reaksmey
http://www.cambodiadaily.com/news/city-bus-operation-awarded-on-basis-of-verbal-contract-53627/
Minister calls for construction of plastic recycle plants in Bavet, Sihanoukville
Say Sam Al, Minister of Environment, on Thursday called for construction of plastic recycle plants in Bavet and Sihanoukville. Speaking at the meeting, the minister said that in the last 20 years Ministry of Environment as well as Cambodian government didn’t allow trash recycle in ...
The Cambodia Herlad
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=NzAwNDJmMjdmZTN
Insurance investment in construction and property see year-on-year increases
Cambodia’s insurance business is continuing to make strides, with the total value of engineering insurance reaching approximately $4 million in 2013, a significant increase compared to 2012. According to data recently released by the Insurance Association of Cambodia, the value of engineering insurance purchased in 2013 ...
New rules for taxmen
Following an order from Prime Minister Hun Sen last month to crack down on intimidation and harassment by tax collectors in local markets, City Hall pledged to take legal action yesterday. Phnom Penh governor Pa Socheatvong told municipal and provincial governors that fines for rogue collectors ...
Vong Sokheng
http://www.phnompenhpost.com/national/new-rules-taxmen
For Yunus, charity is not the only way
Professor Muhammad Yunus, a Nobel laureate who is considered the founding father of microfinance, urged an assembled crowd at the Royal University of Phnom Penh yesterday to start thinking about creating so-called social businesses. “Charity money goes, and does wonderful work, but it doesn’t come back,” ...
Joe Freeman
http://www.phnompenhpost.com/business/yunus-charity-not-only-way
New owners, old story
An existing moratorium on economic land concessions should be no impediment to pouring more cash into the Kingdom’s booming, and highly criticised, rubber trade, industry executives in the capital heard yesterday, as many current ELCs can simply be recycled to a new crop of investors. Ly ...
Daniel Pye
http://www.phnompenhpost.com/national/new-owners-old-story
Verde forges rare earth partnerships with Cambodian, Vietnamese mining companies
Nevada-based Verde Resources Inc says it has signed memoranda of understanding with Cambodia’s Black Stallion Mining Group Ltd and Vietnam’s Phu Duc Mineral Joint Stock Company to prospect for and develop rare earth resources. In a statement released in Malaysia late Tuesday, Verde Resources said the ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=MjQ1ZWIzZmY5ZWY
Hun Sen says wage hikes should be linked to increased productivity
Prime Minister Hun Sen has told local business leaders that increased wages should be linked to improvements in the productivity of workers. Speaking at the 17th Government-Private Sector Forum on Tuesday, he said higher wages “must be attached to the production capacity of each worker and ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=ZDQ4MzRlMDg1ZDh
Amid stable outlook, Moody's confirms Cambodia credit rating
Moody’s Investors Service affirmed Wednesday Cambodia’s government issuer rating at B2 with a stable outlook, stating that recent labour unrest could result in only slightly slower economic growth this year. “Cambodia’s underlying credit strengths are expected to withstand the impact of recent political tensions and labor ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=MmM0MmU3NmU4MmU
Chinese firm takes over bus service, no bid needed
The Chinese-owned Global (Cambodia) Trade Development company takes over today as Phnom Penh’s new municipal bus operator, although City Hall said Tuesday that the company did not have to go through a bidding process to get the contract. The creation of a permanent public bus system ...
Simon Henderson and Sek Odom
http://www.cambodiadaily.com/news/chinese-firm-takes-over-bus-service-no-bid-needed-53513/
Thailand shuts 6 checkpoints in Banteay Meanchey
Six border checkpoints in Banteay Meanchey province were on Saturday closed unilaterally and without warning by Thailand, local officials and border police said. Lieutenant Colonel So Channry, chief of the 911 border battalion in O’Chrov district, said that Thai authorities had closed the checkpoints, one of ...
Ben Sokhean
http://www.cambodiadaily.com/news/thailand-shuts-6-checkpoints-in-banteay-meanchey-53537/
CNRP looks for quieter plan of action as labor strike looms
When a group of six unions organized nationwide strikes in December demanding a $160 minimum wage, the opposition CNRP aggressively took up the cause. Opposition leaders rallied support outside factory gates around the country and tens of thousands of garment workers flooded into Phnom Penh’s Freedom ...
Colin Meyn and Phorn Bopha
http://www.cambodiadaily.com/news/cnrp-looks-for-quieter-plan-of-action-as-labor-strike-looms-53527/
End right to unionize, businesses ask Hun Sen
Prime Minister Hun Sen told business leaders and government officials Tuesday that he will not tolerate “illegal” labor strikes that harm investment, but avoided judgment on a request to withdraw ratification of a U.N. convention protecting workers’ rights to unionize. Speaking at the 17th Government-Private Sector ...
Hul Reaksmey and Alex Willemyns
http://www.cambodiadaily.com/news/end-right-to-unionize-businesses-ask-hun-sen-53516/
Palm oil plantation accused of withholding workers’ pay
More than 20 families working on a controversial palm oil plantation in Ratanakkiri province owned by the Hoang Anh Lumphat company have filed a complaint with rights group Adhoc accusing the owners of improperly withholding one month’s pay. Lor Sophal said he and another 22 families, ...
Aun Pheap
http://www.cambodiadaily.com/news/palm-oil-plantation-accused-of-withholding-workers-pay-53520/
Cambodia-made car causes shocks to Vietnam’s auto industry
Heng, a Cambodian development company, has made a big surprise when introducing its self-modified electric car. The car, named Angkor EV 2014, is created by a local designer, manufactured by Heng Company which has set up a $20 million factory in Kandal province. The car, operated by ...
Vietnamnet News Staff
http://english.vietnamnet.vn/fms/business/96716/cambodia-made-car-causes-shocks-to-vietnam-s-auto-industry.html
Cambodia needs to build human capital for ASEAN Community 2015: PM
Cambodia needs to build qualified and competent human capital to prepare for competition when the ASEAN Economic Community becomes a reality at the end of 2015, Prime Minister Hun Sen said Tuesday. “The Cambodian government will focus its attention on strengthening education quality and technical vocational ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/world/2014-03/04/c_133160359.htm
Japan’s small, medium companies see business opportunity in Cambodia
Many small and medium companies of Japan are showing their interest in doing business in Cambodia, according to an assistant of Prime Minister Hun Sen. 99 percent of Japanese small and medium companies are interested in investing in Asia, especially in Cambodia, which is located ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=ZmRkYzBiYWVjZWR
Cambodia's banks see robust growth in recent years: PM
Cambodian Prime Minister Hun Sen said Tuesday that the country’s banking sector has enjoyed strong growth in recent years and urged the banks to increase their lending to agriculture. According to the report of the National Bank of Cambodia, lending at the kingdom’s 34 commercial banks ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=204458
Cambodia holds gov't-private sector dialogue after 2-year hiatus
The Government-Private Sector Forum was held here on Tuesday after it has had a hiatus for two consecutive years because of Cambodia’s ASEAN chairmanship in 2012 and general election in 2013. The Tuesday’s dialogue was presided over by Prime Minister Hun Sen with the participation of ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=204497
Cellcard advert questioned
The Cambodian Centre for Human Rights (CCHR) is calling out telecommunications firm Mobitel over a TV ad that shows a young Cambodian man who is shocked and dismayed when he meets, on a blind date, what appears to be a transgender woman. Lasting about 60 seconds, ...
Eddie Morton
http://www.phnompenhpost.com/business/cellcard-advert-questioned
PM decries copyright theft
Prime Minister Hun Sen yesterday called on government bodies, local authorities, international organisations and the private sector to dial back Cambodia’s widespread theft of copyrighted works, like film and music, and encouraged the creation of more original, home-grown cultural works. Copying other countries’ cultural output – ...
Vong Sokheng
http://www.phnompenhpost.com/national/pm-decries-copyright-theft