News

Foreign tourists to Cambodia likely to reach 3.3 million in 2012: PM

Cambodia is expected to receive 3.3 million foreign tourists this year, a 15 percent rise year-on-year, Prime Minister Hun Sen said Thursday. “The country’s cultural and eco-tourism has seen remarkable development, there is steady growth from year to year,” he said in a message to mark ...

http://news.xinhuanet.com/english/world/2012-09/27/c_131876653.htm

Cambodia eyes domestic oil production, refinery for energy security: official

Cambodia is working on three fronts to improve its energy security and supply, including the development of its first oil-producing asset, looking for ways to resolve a disagreement over disputed territory in the Gulf of Thailand, and studying the economic viability of building its own ...

http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/7105582

KBank sees potential for bancassurance in Laos, Cambodia

Kasikornbank aims to expand its bancassurance business into neighbouring countries after finding that customers in Laos and Cambodia incur higher medical expenses. Pakorn Partanapat, executive vice president, said that the bank has prepared business plans to cope with the Asean Economic Community (AEC), and bancassurance is ...

http://www.nationmultimedia.com/business/KBank-sees-potential-for-bancassurance-in-Laos-Cam-30191178.html

Cambodia's Anti-Corruption Unit receives 800 complaints in 8 months

Cambodia’s Anti-Corruption Unit (ACU) has received about 800 corruption-related complaints in the first eight months of this year, exceeding the whole last year of only 700 cases, Om Yintieng, ACU’s Chairman, said Thursday Cambodia is riddled with bribery and corruption. The Government of Cambodia sees corruption ...

http://www.globaltimes.cn/content/735760.shtml

TV5MONDE extends presence in Mongolia and Cambodia

French-language network TV5MONDE has renewed its carriage agreement with Mongolian power player Sansar Cable LLC. The channel will also be available in Cambodia in all of pay-TV newcomer OneTV’s packages Via Cambodia’s OneTV, TV5MONDE will be available to an estimated 70% of Cambodia’s population, or 8.3 ...

http://www.onscreenasia.com/article/tv5monde-extends-presence-in-mongolia-and-cambodia/10690

Thailand News: Failure to join CLMV could cost millions

Thailand has to revise its strategy concerning a regional single visa scheme, or it could lose millions of tourists to neighboring countries, which are kicking off the “CLMV Single Visa” next year without the Kingdom’s participation. Five countries – Thailand, Laos, Vietnam, Cambodia and Myanmar – ...

http://www.phuketgazette.net/thailandnews/2012/Thailand-News-Failure-to-join-CLMV-could-cost-millions-18014.html

Cambodia lures foreign investors in Thailand

Cambodia is trying to attract foreign investors with manufacturing bases in neighbouring countries, with promises their factories would be safer from flooding. The Phnom Penh Post reported that Commerce Minister Cham Prasidh is appealing to foreign investors with production bases in neighbouring countries, particularly Thailand, to ...

http://www.bangkokpost.com/news/asia/314346/cambodia-tempts-investors-from-neigbours

Locals Pay Almost Double for iPhone Amid High Demand

Cambodian customers eager to buy Apple Inc.’s newest iPhone are paying almost double the company’s asking price in the U.S., phone vendors in Phnom Penh said yesterday. At about a dozen phone shops near Phnom Penh’s Central Market, vendors were doing a steady trade in the ...

Negotiations Planned to Improve Relations in Garment Sector

Negotiations between the Garment Manufacturers Association in Cambodia (GMAC) and unions over a landmark agreement aimed at reducing strike action will be held on October 3, representatives said yesterday. The original agreement on improving industrial relations in the garment sector was signed in October 2010 by ...

Transport costs remain high

Cambodia’s transport costs remain high compared with those in neighbouring countries, according to a 10-container shipment comparison conducted between Cambodia, Thailand and Vietnam by a Korean-owned company, Pan Continental Freight (PCF). The comparison found Cambodia’s free on board (FOB) costs were US$35 a tonne, whereas Thailand ...

http://www.phnompenhpost.com/index.php/2012092758948/Business/transport-costs-remain-high.html

Land title deals for former Khmer Rouge in question

Former Khmer Rouge cadres who in return for laying down their weapons and swearing allegiance to the Cambodian government were granted plots of land in what is now Kampot province say local authorities aren’t respecting the deal. Representatives of 80 families in the province’s Chhouk district told the ...

http://www.phnompenhpost.com/index.php/2012092758940/National-news/land-title-deals-for-former-khmer-rouge-in-question.html

Looking for a flood of investment

Cambodia’s Commerce Minister Cham Prasidh said foreign investors with production bases in Thailand ought to consider Cambodia for future expansion because of the Kingdom’s greater resistance to floods. Speaking at Phnom Penh Honda’s 20th anniversary yesterday, the Commerce minister said that while Cambodia faces floods each ...

http://www.phnompenhpost.com/index.php/2012092758951/Business/flood-resistance-leverage-for-foreign-investment.html

UN Says Cambodia 'Food Secure' Thanks to Gov't Policies

While the global economic crisis weakened the ability of Cambodian households to purchase food, the government’s focus on agricultural production and other policies have since helped alleviate food insecurity in the country, the U.N. Conference on Trade and Development said in a new report. Between June ...

Cambodia receives $3m grant

Cambodia will receive a grant of US$3.3 million from the World Trade Organisation to support rice milling, silk production and development of the Department of International Cooperation, according to Heng Sovannarith, communication officer for Trade Wide Sector Approach. Sovannarith said the Ministry of Commerce would receive the grant from ...

http://www.phnompenhpost.com/index.php/2012092758950/Business/cambodia-granted-3m-for-development.html

UN Delegates Call on Cambodia to Heed Envoy's Remarks

U.N. representatives from Japan, the European Union and Australia called on Cambodia to heed recommendations made in a report on human rights and economic land concessions by the U.N.’s envoy Surya Subedi at the Human Rights Council in Geneva Tuesday. While the E.U. commended Cambodia ...

Policing, Free Expression Raised at Donor Meeting

Amid a recent spike in police violence against land protesters, Cambodia’s foreign donors yesterday together called on the government for “responsible policing” and expressed “concern” over the trend. The relative candor from aid donors toward the end of the high-level but long-delayed meeting with top government ...

Families Face Re-Eviction, Submit City Hall Petition

Representatives of 19 families facing the eviction from their homes in Phnom Penh’s Pur Senchey district submitted a petition to City Hall yesterday, demanding land as compensation. The families claim that the eviction is doubly bitter because they had been relocated to Andong 3 Village, Kouk ...

Gov't to Award Three Communal Land Titles to Ethnic Bunong

Three ethnic Bunong communities in Mondolkiri province may soon receive long-awaited collective property titles, which would bring to six the total number of communal land titles granted to the country’s indigenous people since the Land Law was created in 2011. And while the possible issuing of the three ...

Locked-out toy makers left in lurch over wages

Employees at the First & Main cuddly-toy company arrived at work yesterday expecting to be paid outstanding wages – instead, a notice on the gates told them all equipment inside the Phnom Penh factory would be auctioned off, because the company was closing for good. The ...

http://www.phnompenhpost.com/index.php/2012092758945/National-news/locked-out-toy-makers-left-in-lurch-over-wages.html

China is promoting the yuan for settling trade deals with the Kingdom

Due to the expansion of economic and business activities between Cambodia and China, since early August the Bank of China has been negotiation with National Bank of Cambodia (NBC) on the promotion of business transactions in Chinese yuan. It is part of a larger but quiet ...

More R'kiri Journalists Threatened Amid Illegal Timber Trade

Just two weeks after a journalist’s bludgeoned corpse was discovered in Ratanakkiri province, a human rights group yesterday identified two more recent cases of violence or intimidation against reporters in the northeastern province. The report from Adhoc said the pressure from local journalists has occurred alongside an increase ...

Eviction Protest Held Outside Donor Meeting

Anti-eviction activists from Phnom Penh’s Boeng Kak and Borei Keila neighborhoods, dressed as white doves, protested yesterday in front of the Council for the Development of Cambodia, where the country’s donors were meeting with top government officials to discuss the country’s reform targets. Donning paper helmets ...

The Week at the CSX - Sept 12-19, 2012

The price of Phnom Penh Water Supply Authority stock over the Sept 12-19 period remained very stable, falling early on from KHR 6,350 (US $1.57) to KHR 6,300 (US $1.56) where it stayed. Trading volumes over the five days varied from around 4200 to 13,600 ...

http://etmcambodia.com

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