The Cambodia Daily
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 ...
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. ...
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. ...
June Textile Reps Solicit Aid from UN Labor Org
Representatives of the former employees of the June Textile Factory in Phnom Penh on Friday wrote to the International Labor Organization asking for help after they claimed the factory failed to make severance payments won by an Arbitration Council decision two weeks ago. Mr ...
Boeng Kak Residents Ask US Embassy For Help
About 200 Boeung Kak residents gathered in front of the US Embassy in Phnom Penh yesterday, seeking help from US Ambassador Carol Rodley in lobbying to have their housing requirements fulfilled. Arrriving at the embassy yesterday at 7:30 am, villager were told by a guard that ...
Bank Says No Railway Evictee To Be Left Behind
The Asian Development Bank announced yesterday that the organizations behind the rehabilitation of Cambodia’s railways, including the government and the Australian development agency, have jointly pledged to address the complaints of people facing eviction from dwellings across the rail lines. The Australian government provided ...
Cambodia to Cooperate with Korean Prosecutors
Following a meeting in Seoul yesterday, Cambodian officials have reportedly decided to cooperate with South Korean prosecutors in the investigation of Busan Savings Bank Group, where shareholders are suspected of illegally financing $365 million worth of investments in Cambodia, according to Yonhap News. Busan’s ...
ANZ Climbs Back Into The Green, Report Says
ANZ Royal Bank posted an $8.1 million profit for 2010 according to the bank’s annual report. A profit of $24.3 million was reported by Acleda. Trade and national payments were shows to have generated substantial earnings for the bank according to the report. ...
OZ Knew of Gold at M'Kiri Site, Report Shows
OZ Minerals has details revealing the size of gold resources available at its Mondolkiri site and has had them for nearly a year. For withholding the information OZ Minerals could face legal action in Australia. Keo Seima, a partner organization was bought out in 2009 ...
(By Simon Marks, pg. 1)
French Premier Signals Investor Frustrations
Prime Minister of France Francois Fillon informed Cambodian officials of the frustration of French investors with Cambodia as agreements were often failing to materialize or were subject to other barriers. Prime Minister Hun Sen met the French Premier along with other officials to discuss investment ...
Thai Exports Ban to Benefit Hog Farmers
A ban of live pig exports by Thailand will benefit local farmers as prices are expected to rise. According to the MSME Project most of the pork in Cambodia comes from Thailand. Only 40 to 50 percent of Cambodia’s hogs are supplied by domestic farmers. ...
Arbitrators Now Express Support for Exams
Having completed their exams trainee arbitrators have applauded them as fair and transparent. 33 of the 45 candidates have successfully passed the exams. In December 2010 Prime Minister Hun Sen signed an order requiring arbitrator candidates to take an exam, after the establishment of the ...
Farmers Look to Cassava for Its High Prices
The number of farmers growing cassava in Cambodia has increased with the land dedicated to its cultivation having been doubled this year. Floods in Thailand resulted in a drop in availability increasing demand and as a result prices. 294,359 hectares of cassava have been planted ...
