News

Hun Sen OKs Large Amount of State Land to be Privatized

Prime Minister Hun Sen has officially allowed the privatization of 2,580 square meters of state owned land. 646 square meters of the land are in Phnom Penh. The sub-decree means that the land is closer to being eligible for development and sale. ...

CPP Senator’s Company Says $40M Embezzled

The former deputy director of Anco Groups conglomerate and his wife have been denied bail when accused of stealing nearly $40 million. Anco Groups conglomerate is a consumer good vendor, electricity and hotel operator and is owned by Kok An. If convicted the former deputy ...

Premier Breaks Ground for Bridge in Kandal

Prime Minister Hun Sen helped inaugurate the fourth bridge built by the Chinese in Cambodia. The $33 million bridge will span the Tonle Bassac river at Takhmau City. In Phnom Penh, a fifth bridge, dubbed the Cambodian-Chinese Friendship bridge is about to begin construction. ...

Association a shoe-in

Cambodia has approved the creation of a footwear association under the umbrella of the Garment Manufacturers’ Association in Cambodia. 37 of the country’s 38 footwear factories agreed to the creation of a representative body for their industry. The footwear industry is said to have exported ...

http://www.phnompenhpost.com/index.php/2011070750242/Business/association-a-shoe-in.html

Pesticide poisons scores

After the So Ngoun Company sprayed pesticides in Kampot province approximately 90 villagers have become ill. They are being treated for vomiting, diarrhea, and dizziness after drinking contaminated water, as the pesticide flowed downstream after some rains. The pesticide was sprayed in order to rid ...

http://www.phnompenhpost.com/index.php/2011070750245/National-news/pesticide-poisons-scores.html

Vietnam's deep-water links spur Phnom Penh Port growth

Vietnam’s Cai Mep port has contributed to a growth in shipments from the Phnom Penh Autonomous Port this year, Cambodian officials say. The Vietnamese deep-water port, near Ho Chi Minh  City, allows cargo to be transferred to ships travelling to more distant markets such as ...

http://www.phnompenhpost.com/index.php/2011070650213/Business/vietnams-deep-water-links-spur-phnom-penh-port-growth.html

Sokimex Plans High-Rise Condos for Peninsula

Sokimex Group is set to break ground on six high-rise condominium buildings in Phnom Penh. Originally suspended in 2010 by Sok Kong because of low demand, the project has now been green lit. Phnom Penh property prices fallen 50 percent since 2008. ...

More Concessions Granted in Protected Areas

Six additional economic land concessions have been granted, totaling 46,000 hectares in protected areas. As a means to spur agribusiness companies the concessions include two in Phnom Aural Wildlife Sanctuary in Kompong Speu province. Prime Minister Hun Sen signed in the grants on June 3 ...

Inflation Hits 14-Month High As Food Prices Continue to Rise

Inflation rose to 6.5 percent in May when compared to the same time last year, marking a 14 month high. Consumer prices are also shown to have risen by 1.4 percent with meat, fish and vegetables as the main culprit as they increased as well. ...

GMAC head sets clothing export goal

Cambodia is set for a 30 per cent increase in garment exports this year, according to Garment Manufacturers Association in Cambodia (GMAC) president Van Sou Ieng. The sector was heavily dependent on foreign buyers, which were increasing their orders  as the global economy recovered, he ...

http://www.phnompenhpost.com/index.php/2011070550174/Business/garment-gains-gmac-head-sets-clothing-export-goal.html

Banking sector grows

The global economic recovery this year continues to benefit Cambodian banks, although insiders said yesterday macro-economic press-ures were still weighing on the industry. Some of Cambodia’s biggest banks had enjoyed a strong 2011 thanks to a rebound in lending, deposits and profits, officials said. Economists, ...

http://www.phnompenhpost.com/index.php/2011070550175/Business/banking-sector-grows.html

BDO expands Cambodia operations

The former country partner and staff of Grant Thornton Law and Associates in Cambodia have joined the accountancy and advisory firm BDO Malaysia effective July 1, according to a statement. As a result, BDO Cambodia’s team will now comprise over 30 staff and partners, a ...

http://www.phnompenhpost.com/index.php/2011070550176/Business/bdo-expands-cambodia-operations.html

Overloaded vehicles at issue

Overloaded vehicles are contributing to a more rapid than anticipated deterioration of Cambodia’s road network, experts said yesterday. “The cost of overloading causes problems to everyone involved, but it is easy to control damage if we have good system in place. This is the only ...

http://www.phnompenhpost.com/index.php/2011070550177/Business/overloaded-vehicles-at-issue.html

1,000 hectare land grab alleged

Villagers in Preah Sihanouk province have accused a businessman of bulldozing almost 1,000 hectares of their farm land in complaints filed to relevant authorities and the provincial court last week. Pin Lean Hun, a village representative, said yesterday rice paddies, vegetable patches and jackfruit trees ...

http://www.phnompenhpost.com/index.php/2011070550182/National-news/1000-hectare-land-grab-alleged.html

BDO expands Cambodia operations

The former country partner and staff of Grant Thornton Law and associates in Cambodia have joined the accountancy and advisory firm BDO Malaysia effective July 1, according to a statement. BDO is one of three accounting firms licensed by the Securities and Exchange Commission ...

http://www.phnompenhpost.com/index.php/2011070550176/Business/bdo-expands-cambodia-operations.html

Overloaded vehicles at issue

Overloaded vehicles are contributing to a more rapid than anticipated deterioriation of Cambodia’s road network, experts said yesterday The ADB has funded an axle-load control programme as part of a US$1 million technical package to support government rehabilitation of about 150 kilometers of the Kingdom’s roads. ...

http://www.phnompenhpost.com/index.php/2011070550177/Business/overloaded-vehicles-at-issue.html

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