News

CAMBODIA’S indirect trade and investments with India are possibly worth almost five times more than its direct economic activities, a situation deemed “unfavourable” to the country, an industry expert said yesterday. Direct trade and investments between the two countries hit a record $112 million last ...

Cambodia Post, a state-owned enterprise with plans to list on Cambodia’s bourse, will sign a memorandum of understanding (MoU) today with the Thai Post intended to provide electronic money transfer services between the two ASEAN neighbours. The initiative hopes to tap the growing remittance via ...

The Mekong Migration Network yesterday ended a three-day symposium by urging countries in the Mekong basin to provide migrant workers with sufficient legal protections and to improve their working and living conditions. The network brought together 72 representatives of governments, academic institutions, INGOs, NGOs and migrant ...

Investment in Cambodia from overseas surged by at least 44 percent last year, according to an estimate from the central bank, despite figures suggesting a reduction in the overall flow of foreign currency into Southeast Asian economies. Nguon Sokha, director-general of the National Bank of Cambodia, ...

Cambodia is predicted to greet 4 million foreign visitors this year, an expected 12 percent rise year-on-year, Tourism Minister Thong Khon said Monday. “Last year, we received 3.58 million foreign tourists, up 24 percent year-on-year, and generated total revenue of about 2.2 billion U.S. dollars,” he ...

Cambodian-Japanese bank Maruhan Japan opened an office in Vientiane, the capital of Laos, on Saturday, making it the second Cambodian bank and the first Japanese bank to come to that country. Maruhan’s presence in Laos would boost economic and investment ties between the two ASEAN member ...

Young Cambodians must develop diverse workplace skills if they are to compete in an integrated Asean, a leading economist and adviser to the government says. “We have to make sure we are able to do multiple things if others are able to do just one,” the ...

Nean Narin, a humble man and father of three children, says his family is going hungry. Narin lives in the village of Boeung Kak, situated on the edge of Cambodia’s capital, Phnom Penh. For years, he and other villagers relied on the Boeung Kak Lake ...

Minsk Tractor Works (MTZ trademark) will make a monetary contribution to the authorized capital of a private company Belarus-Mekong that is being set up in Cambodia. Upon the suggestion of the Industry Ministry of Belarus, the Belarusian company will transfer 32 million Cambodian riels (about ...

Philippines Vice President Jejomar Binay says Cambodian Prime Minister Hun Sen supports the signing of agreements between Manila and Phnom Penh in rice trading and in fighting transnational crime. Cambodian officials have also expressed interest in launching direct flights between Manila and Phnom Penh. ...

Exports of Cambodian fish and shellfish products reached 1,618 tonnes last year, worth $3.5 million, a 16 per cent increase from 1,391 tonnes in 2011, according to figures from the Ministry of Commerce. “A major share of the total exports last year was from saltwater fish ...

THE [sic] Ministry of Tourism plans to organize an annual River Festival along the Mekong and Tonle Sap in a move to attract tourists, officials said. Additionally, it wants to raise awareness for environmental protection with a “Clean City Day” on February 27. The Minister of ...

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 ...

National carrier Cambodia Angkor Air (CAA) recently bought a new Airbus 321 from Europe as part of its expansion into international routes to meet a rise in market demand. The CAA also plans to import one more plane early next year. CAA is a joint venture ...

Cambodia is ramping up efforts to attract US investment, especially because it benefits from trade preferences due to its status as a least-developed country, Cambodian Commerce Minister Cham Prasidh says. Cambodian products can be imported duty free to a number of markets, including Europe and ...

Malaysia is optimistic Asean is ready to be integrated into a single economic block by December 2015 despite uncertainties over growth in the euro zone and the US. International Trade and Industry Minister Mustapa Mohamed said the 10 member countries would be able to cushion the ...

Cambodian Commerce Minister Cham Prasidh sees great potential for US companies that want to invest in agriculture, where he says they can do legitimate business relatively free from the graft as Cambodia makes anti-corruption headway. Cham Prasidh was in Washington last week, where he and other ...

Cambodia is the one of the least competitive countries in the region, hampered by corruption, a poorly educated workforce and inefficient government, according to a recent study. The annual Global Competitive Index, conducted by the World Economic Forum, showed a large uptick in reported corruption for ...

Siam Commercial Bank will begin expanding its footprint across the region in anticipation of greater business opportunities and competitive pressures with the launch of the Asean Economic Community in 2016. SCB, Thailand’s third-largest bank in terms of assets, operates branches in Laos, Singapore and Hong ...

Cambodia on Thursday inaugurated a 133-km China-funded national road No. 8 in Prey Veng province, hoping that the road will contribute to promoting social and economic development in the country’s eastern part. The road, which connects from Prek Tamak Mekong River Bridge to Vietnam border, cost ...

Herewith the full text of the ASEAN Human Rights Declaration adopted by Southeast Asian leaders Sunday: WE, the Heads of State/Government of the Member States of the Association of Southeast Asian Nations (hereinafter referred to as “ASEAN”), namely Brunei Darussalam, the Kingdom of Cambodia, the Republic of ...

Chinese Premier Wen Jiabao pledged RMB 329 million ($53 million) in assistance to Cambodia on Sunday during a meeting with Prime Minister Hun Sen, a Cambodian official said. Ieng Sophalet, an assistant to Hun Sen, told reporters that the grant would be used for water resource ...

On November 19, 2012, President Obama met with the leaders of the 10 member states of the Association of Southeast Asia Nations (ASEAN) to deepen our diplomatic, economic, security, and people-to-people ties with the key Asian multilateral organization. With a population of approximately 620 ...

Prime Minister Manmohan Singh arrived in the Cambodian capital on Sunday to attend the ASEAN and East Asia Summits which will provide an opportunity for India to enhance its economic cooperation with the region amid lingering financial crisis in the western world. Singh is here for ...