Construction material imports on the increase
A return to work on larger construction projects in Cambodia is leading to an increase in the impartation of construction materials, experts said yesterday. Cambodia’s construction materials are generally imported from China, Vietnam and Thailand, and also as far afield as Europe, said Khuon Savuth, Statistics ...
Current accounts in control
Cambodia’s current accounts deficit has increased in recent years, but is not yet a cause for concern, according to experts. The Asian Development Bank’s July update showed Cambodia’s current accounts deficit stood at 11 percent of GDP in 2010, and statistics show the trade gap ...
http://www.phnompenhpost.com/index.php/2011080450869/Business/current-accounts-in-control.html
PM issues warning over ELCs
Prime Minister Hun Sen has warned again that economic land concessions granted to private companies will be withdrawn if the companies fail to resolve land disputes with villagers who have lived in their concession area for “a long time”. The premier ordered relevant ministries to ...
Vietnam top destination for Cambodians
Cambodian outbound tourist departures rose 29 per cent year-on-year through July, with the bulk of the travellers going to Vietnam and Thailand, according to Ministry of Tourism statistics. Nearly 358,000 Cambodian tourists left the Kingdom in the first seven months of 2011, up from about ...
Arbitration council orders an end to strike
The Arbitration Council has ordered more than 700 workers at the Wei Xin garment factory to end a week-long strike they have staged in protest against a spate of issues they have with the company over contracts and payment. A decision handed down on Saturday by ...
CSX trading postponed again until next year
Trading on the Cambodia Securities Exchange will be delayed once again until the beginning of 2012, Minister of Economy and Finance Keat Chhon said yesterday. He blamed an incomplete regulatory regime and the public’s lack of confidence in the stock market as reasons for the delay, ...
Cash crop deal to aid Kingdom
A Malaysian firm on Saturday signed a joint agricultural agreement with property development company Paragon Corporation Cambodia worth a potential US$2 billion in exports of corn, rubber, coffee and other cash crops. Penned by Paragon Corporation Cambodia and Markmore Group Malaysia, the joint development project will ...
http://www.phnompenhpost.com/index.php/2011101752151/Business/cash-crop-deal-to-aid-kingdom.html
Complaint filed against T&P in Banteay Meanchey
Thirteen construction workers have filed a complaint against the Banteay Meanchey provincial branch of T&P Co Ltd – the recruitment agency at the center of allegations involving illegal detainment of trainees – officials said yesterday. The workers, who had previously worked illegally as construction workers in ...
Kuch Naren, P.24
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US signs over $65m in aid, but no sign of donor meeting
The government and the US Embassy yesterday signed off on half the nearly $65 million the US is giving Cambodia in aid this year, more than two months after Cambodia cancelled a major meeting with its foreign donors that was scheduled for November. Held roughly every ...
S&P downgrades national sovereign debt rating
Ratings agency Standard & Poor’s yesterday lowered Cambodia’s long-term sovereign credit rating by one notch to B due to the country’s continued inability to diversify its economy and increase government spending. The decision by Standard & Poor’s comes after the agency said in September that constraints ...
Japanese oil firm plans Cambodian operations
JAPAN Oil, Gas and Metals National Corporation has started preliminary surveying as the sole operator in Cambodia’s Block 17 onshore oil field, a 6,500 square-kilometre area of hilly forest in Kampong Thom, Preah Vihear and Siem Reap provinces, according to an Environmental Impact Assessment (EIA) ...
Investment needed to hit rice target
Cambodia needs at least another $120 million of investment in rice mills if it is to meet the government’s 2015 target of exporting 1 million tons of rice, Agriculture Minister Chan Sarun said yesterday. While rice exports from Cambodia this year have seen a significant increase ...
Deadline extended for comment on new urban planning rules
The Ministry of Land Management is giving a brief reprieve to non-government groups and donor partners who missed yesterday’s deadline to comment on a draft sub-decree aiming to guide and regulate the country’s urban development. After making the Sub-Decree on Urban Planning and Town Areas public ...
As chair of Asean, Cambodia promotes Korean peace talks
In its capacity as Asean chair, Cambodia has said it wants to help lessen tensions on the Korean peninsula by trying to revive the six-party talks on North Korean denuclearization and by inviting North Korea to join the Asean Ministerial Meeting in Phnom Penh in ...
Kingdom's 2011 GDP hits 6.9%
Cambodia’s gross domestic product grew 6.9 per cent year-on-year in 2011, and is set to increase to 6.5 per cent this year, according to preliminary projections from the Ministry of Economy and Finance. Agriculture, which was hit hard by floods last year, climbed 3.3 per cent, ...
http://www.phnompenhpost.com/index.php/2012012754182/Business/kingdoms-2011-gdp-hits-69.html
Backing sought for coal-fired power plant
A Thai energy firm has completed a study for a 1,800-megawatt coal power plant in Koh Kong province, and had asked for Prime Minister Hun Sen’s support in furthering the project, government officials confirmed yesterday. The plant would be the largest power generator in the energy-starved ...
Thai Envoy Proposes Group to Address Logging
The Thai Ambassador in Phnom Penh has suggested that Cambodia form a special delegation to tackle the common – and often deadly – practice of illegal logging along the two countries’ shared border, the ambassador said yesterday. Already this year, 11 Cambodians have reportedly been ...
Appeal Court Rehears case of $60 Million Embezzlement
The former deputy director general of Anco Groups and his wife yesterday defended themselves against convictions handed down by the Phnom Penh Municipal Court for embezzling nearly $60 million dollars from the firm – owned by CPP Senator and tycoon Kok An – during the ...
Information Minister Promotes Gov't Use of Social Media
Minister of Information Khieu Kanarith has encouraged all provincial and city information departments to set up and maintain their own homepages, websites and profiles on the Internet, including popular social networking sites such as Facebook, officials said yesterday. The minister, who posts frequent updates ...
Phnom Penh Residents Asked To Reduce Electricity Usage
State-run Electricite du Cambodge (EdC), the main provider of electricity in the country, has appealed to residents of Phnom Penh to reduce electricity use due to a power shortage, an EdC official said yesterday. The company is only able to produce 70 percent of the city’s ...