Economy and commerce

Prime Minister Hun Sen has said the ruling Cambodian People’s Party (CPP) will never tax farmland. “It would burden our farmers,” he said in Takeo Sunday. “Although national revenue that comes from land taxes is spent on building roads, water systems, hospitals and  schools, we still ...

Cambodian Petrochemical Company and Sinomach China Perfect Machinery Industry Corp jointly announced on Friday to build the first oil refinery in Cambodia and the construction is expected to be completed at the end of 2015. Zhang Sugang, president of Sinomach China Perfect Machinery Industry Corp, said ...

Bilateral trade volume between Cambodia and Vietnam jumped to 3.3 billion U.S. dollars in 2012, a 18 percent rise from 2.8 billion U.S. dollars in 2011, according to a report provided by the Association of Vietnam Investment in Cambodia on Saturday. The report also said ...

The government was to resume rail services between Phnom Penh and Sihanoukville Friday in collaboration with Toll Royal Co, Richz Electronic Services and the Asian Development Bank, sources said. ...

Cambodia’s modern railway system on Friday commenced commercial rail operations on the 256- kilometer”Southern Line” between the capital city of Phnom Penh and Sihanoukville Port. The launching was made after years of renovation with the financial support from the Asian Development Bank and development partners. “ADB ...

Cambodia’s economic performance this year has been heartening despite the global economic slowdown, especially the chaos caused in Europe by the sovereign-debt crisis and the sluggish recovery of the US economy. In October, the International Monetary Fund revised its world growth projections to 3.3 per cent ...

Prime Minister Hun Sen yesterday encouraged Cambodians to strive for Chinese-style millionaire status as he inaugurated a sugar refinery located inside two controversial plantations belonging to CPP Senator Ly Yong Phat and his wife in Kompong Speu province. “I have one clear policy in strengthening the ...

Though the mood was congratulatory yesterday at the inauguration of ruling party Senator Ly Yong Phat’s sugar company – a gleaming, new facility nestled in between two hills in Kampong Speu province’s Omlaing commune – the mood just a few kilometres away bordered on desperation. Sitting ...

Despite an expanding financial sector, increasing access to credit and strong economic growth in recent years, fewer than 1 in 20 Cambodians has a bank account, according to a new policy working paper by the World Bank. According to the paper – released earlier this month ...

Cambodia today opened first largest sugar factory in Kampong Speu province, western part of city of Phnom Penh with $ 150 million investment  from a local company which employs 2 554 workers. Ly Yong Phat, owner of Sugar factory ( Phnom Penh sugar company) said:  his ...

The figures were released at a recent conference reviewing three years of Vietnamese trade and investment promotion in Cambodia, held by the Association of Vietnamese Investors in Cambodia (AVIC) in Phnom Penh. In 2010, Vietnam had only 41 investment projects totaling US$566 million in Cambodia. AVIC has ...

Hattha Kasekar Limited (HKL), one of Cambodia’s largest microfinance institutions (MFI), plans to install 15 ATM machines to service its increasing number of depositors. It becomes the second MFI after Prasac in Cambodia to provide this service to its clients. ...

Vietnamese investors are planning to invest more in accommodation services and to build hotels in at least three provinces that Vietnamese visitors traveling to the world-knowned Angkor Wat will travel past. ...

The Nam Sao Cambodia international fertilizer plant, the largest of its kind in Cambodia and a project under cooperation between the country and Vietnam, was Tuesday inaugurated in Somrongthom Commune, Kean Svay District, Preyvan Province, 40 kilometers from the capital city of Phnom Penh. Prime Minister ...

Thailand and Cambodia will step up road construction, and open more checkpoints along their common borders, Thai News Agency reported on Wednesday. The resolution was made during the 8th Thai-Cambodian Joint Commission, held in Bangkok on Tuesday and Wednesday. ...

The Phnom Penh Autonomous Port (PPAP) will officially open two new ports in January in response to a rise in imports and exports of cargo. The PPAP is also one of the state-owned enterprises due to be listed on the Cambodian stock exchange by 2014. ...

Prices for the highly-prized fish known as pa sa-see (Mekongina erythrospila) have more than doubled to $50 a kilogram, sources said. ...

Land prices in Meanchey district’s four communes that had been transferred into Phnom Penh municipality’s control from Kandal province have held steady, despite the construction of Prek Samroung Bridge and the extension of roads to the area. Meanchey Governor Kuch Chamroeun said that he is ...

Cambodia’s banking sector has maintained strong and steady growth in terms of loans and deposits in 2012 thanks to better economic performance, a central bank’s senior official said Tuesday. “Our banking system remains robust this year despite economic crisis in Europe and economic slowdown in the ...

With the support of the Japanese government, satellite systems will be installed at Cambodia’s international airports from next year, according to an official. ...

Thailand is warning it will expel 1.5 million illegal workers from the country, a move that could affect around 160,000 Cambodians. Rights workers in Cambodia say the migrant laborers deserve assistance from both Thai and Cambodian authorities to help them work and travel legally. ...

The Ministry of Commerce is conducting a feasibility study to set up an open paddy market for paddy rice in at least two provinces to make the rice trade more transparent, s senior official says. ...

Cambodia is projected to have the second fastest-growing economy in Southeast Asia over the next two years, the World Bank said in a regional economic update last week. Gross domestic product is forecast to expand 6.7 per cent next year and 7 percent in 2014. That ...

PhillipCapital, a Singapore-based integrated financial services provider and a majority stakeholder in three of Cambodia’s micro-finance institutions (MFIs), plans to consolidate the three into a commercial bank. ...