Economy and commerce

Villagers accused of incitement in a long-running land dispute with a company owned by the wife of a government minister did not show up for scheduled questioning yesterday at the Kompong Chhnang Provincial Court, officials said. On September 17, KDC Development company, owned by Chea Kheng, the wife of Minister of Industry, ...

Cambodia’s inflation rose by 2.2 per cent in August compared to the same month last year, according to the monthly data from the National Institute of Statistics. The increase was due to the rise in food and the fluctuation of gasoline prices. Government officials and economists said the ...

In an effort to promote rice exports among Cambodian farmers, government officials said on Tuesday they will register the type of rice seed set for export and the rice seed produced for the national market. Cham Prasidh, Minister of Commerce, said on the closing of the ...

A day after the International Monetary Fund (IMF) notched up its forecast for Cambodia’s economy this year, the Asian Development Bank (ADB) yesterday revised its own estimation down slightly, to 6.4 percent. The ADB’s estimation was edged down just 0.1 percent from its last forecast made ...

The number of strikes in Cambodia’s garment industry could be set to dip and workers could be on their way to free lunches after both sides of the industry signed a two-year memorandum of understanding (MoU) yesterday. The MoU – inked by the Garment Manufacturers Association (GMAC) in ...

Container traffic through Phnom Penh Autonomous Port, Cambodia’s second largest port, increased by 16 percent in the first nine months of this year thanks to increasing import and export activities in garments and construction materials, the port authority said on Wednesday In March last year, to ...

visiting Prima Vitlay, vice minister of industry of Belarus today met with deputy prime minister and finance minister of Cambodia, Keat Chhon, here to expand cooperation and trade ties between two countries. Prima told finance minister: “his country schedules to open a tractor factory in Cambodia ...

Nagaworld Hotel was the venue for Monday night’s occasion, exactly 20 years after the very first Silk Air flight into Phnom Penh on October 1, 1992. The event came on the same evening as the launch of Tiger Airways’ service between Phnom Penh and Singapore ...

The amount of cargo entering Cambodia through the Phnom Penh Autonomous Port has increased 15.24 percent through the first nine months of this year, compared to the same period last year, a port official said yesterday. Hei Bavy, general director of the Phnom Penh Autonomous Port, ...

Cambodia is being considered as a site for halal food production and rice milling by the United Arab Emirates, according to the UAE’s Foreign Trade Minister Sheikha Lubna Bint Khalid Al Qasimi yesterday. Speaking during an official meeting with Prime Minister Hun Sen at the Peace ...

More than two months after the firm announced it would list on the Cambodian Securities Exchange, Bonna Realty has selected Tong Yang Securities to underwrite its initial public offering (IPO), an official said yesterday. Sung Bonna, the CEO of the Phnom Penh-based realty firm, said that ...

Cambodia is among the tropical countries whose forests are being cleared using increasingly advanced methods to feed a growing global trade in illegal timber worth at least $30 billion a year, according to a new report. The report, Green carbon, black trade, a joint effort by ...

The International Monetary Fund has revised Cambodia’s economic growth projection to between 6.5 and 7 per cent, up from 6.2 per cent in April, saying the country could manage a sound macro-economy because of the growth in four main sectors: manufacturing, tourism, agriculture and construction. According to Ek ...

Global development group Oxfam on Wednesday called on the World Bank to suspend financing for large-scale land acquisitions to ensure that its practices do not encourage foreign land grabs in developing countries. Oxfam urged Jim Yong Kim, the lender’s new president, to announce a six-month moratorium ...

Workers at shuttered plush-toy company First & Main claimed yesterday their bosses had forced them to thumbprint resignation letters they had not written, a plan they feared could deny them severance pay. Mech Mom, a representative of the 357 workers at the US-owned factory, in the ...

Cambodia will receive most of the income derived from a joint project to exploit promising offshore oil reserves, official sources have confirmed here. Ek Tha, spokesman for the Cabinet Office said that in negotiations with Chevron, the government proposed reaping 70 to 80 percent of the ...

Cambodia’s total milled rice exports increased just two percent to 131,064 tons over the first nine months of this year in comparison to the same period last year, according to data released from the Ministry of Agriculture ...

The United Arab Emirates (UAE) is considering investing in halal food production and rice milling in Cambodia, visiting UAE Minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi said here on Tuesday. Speaking in a meeting with Cambodian Prime Minister Hun Sen at the Peace ...

Direct daily flights between Phnom Penh and Singapore started yesterday with the first Tiger Airways flight departing at 8:30am and landing in Singapore at 11:30am, kicking off a seven-days-a-week low-cost service. The company is offering a special price of US$38 one-way from Phnom Penh to Singapore ...

Tiger Airways inaugural flight from Singapore to Cambodia touched down at Phnom Penh International Airport yesterday morning, making the low-cost carrier the 21st airline to offer daily flights to the capital. Mao Havanall, secretary of state at the State Secretariat of Civil Aviation, said yesterday ...

The value of garment and shoe exports to the European Union are expected to reach the same level as those sent to the U.S. by 2013, an official from the Garment Manufacturers Association in Cambodia (GMAC) said yesterday. Garment, textile and shoe exports to the E.U. ...

Vietnamese Bank Sacombak (Cambodia) Plc, a wholly-owned subsidiary of Sacombank in Vietnam, will extend its operation in the Cambodian financial market, according to a bank official. Nguyen Nhi Thanh, CEO and President of Sacombank in Cambodia, said during the first anniversary celebration after the bank’s transformation ...

Cambodia exported just 78,000 tons of milled rice through the first eight months of 2012, and if the government is to reach its target of exporting 1 million tons each year by 2015 the agriculture sector needs more access to financing, participants at the Cambodian ...

As part of its plan to become of the world’s top exporters of rice, Cambodia is looking to increase its rice shipments to the United Arab Emirates, one of the world’s main milled rice importers. Cham Prasidh, Minister of Commerce, met with delegates and businessmen led ...