News

Filipino real estate firm targets local expats

Megaworld International a Philippines-based development company is expanding its operations in Cambodia in order to attract more of Cambodia’s growing middle class. They held an exhibition in Phnom Penh to entice locals to invest in the Manila property market. There are approximately 3000 residents in ...

http://www.phnompenhpost.com/index.php/2011071150300/Business/filipino-real-estate-firm-targets-local-expats.html

US senators raise Mekong dams

US senators are pushing for a resolution that would use US influence within the Mekong basin to ensure that the construction of hydroelectric dams, such as the Xayaburi dam in Laos, would meet exacting environmental standards. The resolution would not be law but rather policy ...

http://www.phnompenhpost.com/index.php/2011071150310/National-news/us-senators-raise-mekong-dams.html

Cambodia Security Exchange Launches

The Cambodia Security Exchange (CSX) has launched though trading has yet to begin. Government officials and investors are upbeat about the launch saying that it will spur economic growth. The chance for investment in Cambodia is said to have grown significantly since the advent of ...

http://www.phnompenhpost.com/index.php/2011071150302/Business/stock-exchange-launches.html

Sell-Off of Wildlife Areas Faster than Believed

500 sq km of land from three conservation areas have been granted by the Cambodian government to agribusiness companies. Prime Minister Hun Sen has approved 50,750 hectares, through nine concessions, to be granted areas of land that were previously conservation areas. Reththy Kiri Sakor Co. ...

Cambodian Stock Exchange Set to Launch

The Cambodian Stock Exchange(CSX) has prepared its initial public offerings in a symbolic launch, though no public trading was offered. Finance Minister Keat Chhon and his South Korean partners hold a 49 percent stake in exchange. Two state-owned companies will go public including: the Phnom ...

Central Bank In Talks to Up Reserve Rate

The National Bank of Cambodia (NBC) is thinking of raising the reserve required for banking deposits. The aim is to slow inflation and lessen the chance of an economic meltdown. The NBC is considering raising the rate after inflation reached 6.5 percent in May compared ...

Government Aims to Increase Silk Production

Cambodia’s Agriculture Ministry has announced plans to increase the annual production of silk from 4 tons to 400 tons by 2020. Cambodia primarily relies on silk from Vietnam and China. The project is entitled the Silk Rehabilitation Project and is funded by the UN Food ...

Bank Predicts 6.8% Economic Growth in 2012

The Asian Development Bank (ADB) has released figures which show they believe that the Cambodian economy will grow between 6.8 and 7 percent in 2013 and 6.8 percent in 2012. Their reporting sites the growth in the Cambodian garment industry as a major factor. The ...

Borei Keila Residents Protest Resettlement Plan

Residents of Borei Keila in Phnom Penh are protesting their resettlement. They were promised housing by Phanimex Company in exchange for the land they gave to the developers, who are said to not completed their side of the deal. So far only 7 of 10 ...

A Tough Ride for S Korean Property Projects

GS Engineering & Construction broke ground on June 18, 2008 of Cambodia’s largest building the International Finance Complex in Phnom Penh but since then has been suspend or forced to downscale like all of the other building projects in the city. Worth more than $4.5 ...

Lake Residents’ Protest Results In Two Arrests

Two protestors of CPP Senator’s project to develop Boeng Kak Lake have been arrested after a breakdown in negotiations between city hall and the 1,500 lakeside families who were protesting. The negotiations were concerning the sort of onsite housing the families would receive as compensation ...

Broker opens ahead of CSX launch date

Sonatra Securities a designated broker has launched its operations in Cambodia ahead of the launch of the Cambodian Securities Exchange (CSX). As one of the four companies licensed by the Securities and Exchange Commission of Cambodia, Sonatra will be able to buy and sell shares ...

http://www.phnompenhpost.com/index.php/2011070850269/Business/broker-opens-ahead-of-csx-launch-date.html

ADB talks Cambodia funding priorities

The Asian Development Bank (ADB) is focusing on lending to the agriculture, education, finance, water supply and transport sectors in Cambodia as part of its three year Country Partnership Strategy, worth $500 million. $377 million will be allocated to 12 projects in the five mentioned ...

http://www.phnompenhpost.com/index.php/2011070850270/Business/adb-talks-cambodia-funding-priorities.html

Exports of rice quadruple

Exports of rice from Cambodia have quadrupled in the first part of 2011 according to the Ministry of Commerce. Rising international prices along with high domestic yields have spurred the growth to 80,442 tons of rice being exported compared to 17,144 tons the previous year ...

http://www.phnompenhpost.com/index.php/2011070850271/Business/exports-of-rice-quadruple.html

Sugar concerns raised

Rights groups have alleged that villagers are being pushed off their land to make way for sugar plantations by companies such as LYP Group, owned by Senator Ly Young Phat. The issue was raised with the Finnish Foreign Minister Erkki Tuomuoja and the Minister for ...

http://www.phnompenhpost.com/index.php/2011070850275/National-news/sugar-concerns-raised.html

Unions unite on draft law

7 unions working together have said that they refuse to support a union law that has been drafted as the government has ignored their recommendations.  The potential legislation is said to be prohibitively restrictive and the unions have said they will boycott by organizing peaceful ...

http://www.phnompenhpost.com/index.php/2011070850278/National-news/unions-unite-on-draft-law.html

Fishermen catch a rough deal

Fish yields have supposedly dropped by 20 to 30 percent according to fisherman, as a result of the destruction of natural marine environments such as mangroves and the increase in the number of people fishing. Ministry of Agriculture, Forestry and Fisheries estimated the total number ...

http://www.phnompenhpost.com/index.php/2011070850280/National-news/fishermen-catch-a-rough-deal.html

Bank Says No Railway Evictee to Be Left Behind

The Asian Development Bank (ADB) has said that the rehabilitation of Cambodia’s railways will not be at the expense of those who live along the lines and has pledged to address the issue. Resettlement has been a problem for the rehabilitation but a new plan ...

Registered Businesses UP by 37 Percent, Data Show

Registered businesses have increased in number by 37 percent to approximately 1,528 compared with the same period for 2010. Cambodian Chamber of Commerce officials say that the number of entrepreneurs has increased with them focusing on textiles, agriculture and construction. Cambodia currently has an export ...

Approved Invvestments in May Reach $110 Million

15 new projects worth a total of $110 million have been approved by Cambodia’s investment board in May. The Council for Development of Cambodia has approved two rubber plantations worth $60 million. Cin Qian Investment Co, a Chinese firm, has been approved for developing a ...

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