Firms Need to Improve Accounting Standards
Cambodia’s businesses need to dramatically improve their accounting standards if they are to attract interest from investors abroad and reach the standards necessary to list on the recently launched stock market, experts and government officials said yesterday.
Speaking at the National Conference on Accountancy in Phnom
Cambodia Import-Export The First Half Year Analysis
Although the Cambodian government has projected Gross Domestic Product (GDP) of around 7 percent this year, a bit higher than come other international financial organizations like the Asian Development Bank (ADB) and the International Monetary Fund (IMF), it does not mean that the country’s projection could not
Cambodia Says No Strings Attached in Recent Chinese Aid
China has done a lot to support Cambodia over the years, with millions of dollars in aid, loans and investment. But after reports last week that China has pledged another $500 million in soft loans and grants-and publicly thanked Cambodia for its support in Southeast
ASEAN senior officials meet ahead of 30th ASEAN Ministers on Energy Meeting
ASEAN senior officials on energy gathered here on Monday to discuss and prepare documents for the 30th ASEAN Ministers on Energy Meeting and related meetings to be held on Sept. 12. The two-day preparatory meeting, under the theme “ASEAN Green Connectivity”, was chaired by Tun
http://news.xinhuanet.com/english/world/2012-09/10/c_131841006.htm
CP Group plans more investment in Indochina
Charoen Pokphand Group is leaning towards investing more in Indochinese countries in light of their growing economies and regional trade liberalisation through the Asean Economic Community in 2015.
Cambodia, Laos, Myanmar and Vietnam have a wealth of natural resources that could support the group’s products from
http://www.nationmultimedia.com/business/CP-Group-plans-more-investment-in-Indochina--30190834.html
Court Issues Injunction Over Mfone Debt
The Norwegian energy firm Eltek Valere won an injunction from the Phnom Penh Municipal Court earlier this month against the Thai-owned mobile operator Mfone after it filed a complaint claiming that Mfone had failed to pay $3.73 million in service charges, court documents obtained Friday
http://www.cambodiadaily.com/business/court-issues-injunction-over-mfone-debt-4878/
Japanese Investment Grows; Hurdles Remain
Japanese investment in Cambodia is steadily increasing as a result of sharply rising wages in China and other Southeast Asian nations. But experts warned this week that for sustained investment growth—and to avoid driving Japanese companies to other attractive investment destinations such as Burma —the
http://www.cambodiadaily.com/business/japanese-investment-grows-hurdles-remain-5144/
Telecom Cambodia Corruption Investigation Needs Time
The minister of posts and telecommunications yesterday said he needs more time to investigate corruption and mismanagement allegations at state-owned firm Telecom Cambodia before involving other government institutions.
Telecom Cambodia director-general Lao Saroeun is officially on sick leave, but staff at the company say they were
Bank Forecasts Drop in GDP Growth to 6.5%
The Asian Development Bank (ADB) yesterday revised its prediction for economic growth in Cambodia down to 6.5 percent as it warned that weakening demand from markets in the US and Europe could affect exports leaving the country.
The ADB’s biannual outlook report for 2012 also said
Commune Vote Predictable, but Margins Less So
With Sunday’s commune elections quickly approaching, the five main political parties are all predicting substantial gains over how they faired in the last election in 2007, though none deny that the ruling Cambodian People’s Party (CPP) will continue to dominate the polls.
And with the entrance
Rice Millers to Increase Capital
Cambodian rice millers will increase their capital to purchase unmilled rice this season as bankers agreed to provide more loans, insiders said on Monday.
Baitong will increase its capital to purchase up to 140,000 tonnes of fragrant unmilled rice, compared to last year’s 70,000 tonnes said
http://www.phnompenhpost.com/index.php/2012062857068/Business/rice-millers-capital.html
Cambodia Reaching New Heights
As much of the world struggles with post growth, Cambodia’s tourism and hospitality sector continued to expand and diversify, attracting more intraregional activity and especially from major emerging markets in Asia, MICE segments, as well as traditional leisure clientele.
Like neighboring countries Thailand, Vietnam, Malaysia and Laos, Cambodia has quickly emerged into a well sought-after tourist
Asian tourist numbers up, profits stagnant
The growth in international tourists visiting Cambodia is almost 27 per cent that of the numbers seen during the first six months of 2011, according to tourism officials who are predicting that the growth may be 25 per cent at the end of this year.
Visitors
Cambodia Hosts 44th ASEAN Economic Minister Meeting
The 44th economic ministers (AEM) meeting and related meetings will be held from 25 August-1 September, 2012 in Siem Reap province.
The ministers will focus on the economic community in 2015 and boost economic council to move forward because this community is going smoother than other two
The arrival of the ASEAN Economic Community will likely be delayed
ASEAN leaders have proposed putting off the planned launch of the ASEAN Economic Community (AEC) until the end of 2015, instead of the beginning of that year, so each member state will have more time to prepare for the single market, according to Cambodian Commerce
Experts Put Forward Changes to Draft Agreement Protecting Maids
Officials from the government U.N. and human rights groups on Friday put forward amendments to draft memorandum of understanding (MoU) that is designed to impose safeguards for Cambodians to travel to work as maids in Malaysia.
While the original draft by the Malaysian government sets out the responsibility of
Police reopen OZ, Cochlear bribery cases
THE Australian Federal Police will reopen corruption inquiries into major Australian companies OZ Minerals and Cochlear, after searing criticism that it was lax in its investigations.
OZ Minerals will be targeted following discussions with the OECD about the AFP’s previous investigation of alleged foreign
http://www.smh.com.au/business/police-reopen-oz-cochlear-bribery-cases-20130112-2cmrt.html
Cassava production dropped in 2012
The area of cassava under cultivation fell by 11.5 per cent across the country this season, while the price of cassava chips remained the same as last season’s price. Officials blamed an unstable price during the previous season (from April to April) for the drop.
According
http://www.phnompenhpost.com/2013020561173/Business/cassava-production-dropped-in-2012.html
Thailand, Vietnam Seek Controls on Rosewood Trade
Thailand and Vietnam have called for strict controls to be placed on the international trade of rosewood in an attempt to prevent the luxury wood species from being logged to extinction.
Cambodia currently exports thousands of cubic meters of the wood to China each year, and
http://www.cambodiadaily.com/news/thailand-vietnam-seek-controls-on-rosewood-trade-12299/
Ahead of Titling, Hun Sen Urges Swift Resolution to Land Disputes
Prime Minister Hun Sen yesterday urged people to resolve their own land disputes to aid the progress of an ambitious land-titling project announced earlier this month.
Speaking at an event in Kompong Cham province’s Kroch Chhmar district to mark National Fish Day, Mr. Hun Sen thanked
