The Phnom Penh Post

While sovereign debt crises in Europe and a lagging US economy have yet to curtail cheap Cambodian exports, industry watchers said domestic producers should diversify their target markets to avoid a future slow down. Exports saw a more than 40 per cent increase year-on-year between January ...

The Kingdom’s cassava exports soared 94 per cent year-on-year in the first nine months of 2011, despite the recent flood devastation the agriculture sector has experienced, according to Ministry of Commerce figures. The statistics showed that Cambodia’s export of dry and fresh cassava hit about 22,652 ...

Cambodia’s banks should be largely spared the heavy damages already seen in many parts of the Kingdom’s economy, officials said yesterday, though microfinance lenders will feel some impact. Minister of Economy and Finance Keat Chhon last week revised downward the government’s gross domestic products for 2011 ...

Cambodian garment makers are filling orders for the 2012 London Olympics in what insiders say is the first time the country has supplied the Games. ShenZhou International Group Holdings Ltd, one of China’s largest apparel exporters, makes shirts and other sportswear for Adidas that will supply ...

More than 200 residents of Phnom Penh’s Boeung Kak lake gathered outside Phnom Penh Municipal Court yesterday as four villagers who filed complaints after their homes were demolished by real estate developer Shukaku Inc last month responded to summonses for questioning ...

China’s dam-building ambitions and alleged lack of transparency were front and centre yesterday during a roundtable discussion on Mekong River development held in the capital. Representatives from the Chinese embassy defended their country’s record, claiming that China was “eager to participate” in regional cooperation mechanisms. “We aren’t ...

Cambodia firm Overseas Cambodia Investment Corporation yesterday signed a Memorandum of Understanding with a Singapore-based company to develop a high-output rice seed factory in the Kingdom. The cooperation between major investment firm OCIC and agriculture research company Smah Prum Royal International Pte Ltd is set to ...

Although a Thai minister claimed recently that delays in resolving the disputed overlapping claims area with Cambodia would result in an energy crisis, experts said yesterday the statement had been politically motivated. Thai Energy Minister Pichai Naripthaphan said last week Thailand would run out of gas ...

About 250 villagers who turned out in Preah Vihear province’s Srayong commune to protest against alleged land-grabbing by rubber firm Siladamich Company yesterday found themselves blocked by company security guards and police, though arrests threatened a day earlier failed to materialise, villagers said. Villager representative Meas ...

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 ...

Bilateral trade between Cambodia and Thailand increased slightly by 8 per cent during the first eight months of 2011 compared to the same period last year, according to the Thai Embassy’s Foreign Trade Promotion Office (FTPO) statistics obtained by the Post yesterday. The increase in trade ...

Tokyo: The International Monetary Fund has upgraded its outlook on Cambodian GDP growth in 2011 from 6.5 per cent to 6.7 per cent just days after government officials announced a full percentage-point reduction in economic expectations. Stabilisation in the real estate sector, as well as strong increases ...

Rights groups said yesterday a ban on sending Cambodian domestic workers to Malaysia – signed by the Prime Minister on Saturday – should not be lifted until both countries implemented measures to stop deaths, rapes, forced detainment and under-age recruitment in the labour sector. Groups including ...

Kulan district villagers embroiled in a land dispute in Preah Vihear’s Srayong commune say they will follow through with a planned 200-person protest against rubber firm Siladamich Company today despite being threatened with arrest. Village representative Lem Lom, 32, said  yesterday that Srayong commune police and ...

The opposition has raised conflict-of-interest concerns over another agreement headed to the National Assembly today guaranteeing the government will buy electricity from a power plant to be constructed by a company owned by ruling party Senator Lao Meng Khin. However, it was unclear yesterday whether the ...

Minister of Commerce Cham Prasidh on Wednesday, in a meeting with the European Chamber of Commerce in Cambodia, called on delegates to host an EU-ASEAN business summit next year, according to Eurocham members who were present. The summit is expected to focus on enhancing business strategies ...

Tokyo: Cambodia needs more than an estimated US$13 billion in infrastructure works by 2020 if the country intends to continue attracting foreign investment, a joint survey by some of the world’s top financial institutions indicated on Wednesday. During a conference held by the Japan International Cooperation Agency ...

Workers striking for a second day at a garment factory in suburban Phnom Penh succeeded yesterday in having one of their eight demands met, as Taiwanese-owned Meroson Cambodia Co Ltd agreed to reinstate three employees allegedly fired for joining a union, a union official said ...

The Ministry of Labour has been ordered to permanently close the labour recruitment firm T&P following the discovery of more under-age trainees in its Kampong Chhnang centre. The move marks the first time the ministry has shut a labour reruitment firm, and follows intense criticism of ...

MFONE CEO Yap Wai Khee will resign at the end of the month, officials said yesterday, fuelling questions about the future of the company. Yap Wai Khee, who held the position for about a year, will leave for family-related reasons, according to Atip Rittaporn, managing director ...

About 500 of the 600 garment makers at Meroson Cambodia Co Ltd went on strike yesterday, accusing the Taiwanese-owned firm which exports T-shirts to North America of using them as “slave labour” Chey Sovan, vice-president of the Cambodian National Confederation for Labourers’ Protection, said that the main reason ...

The Kingdom’s securities firms have raised concerns about an impending regulation that they said may stunt growth in the country’s fledgling financial markets. The Securities and Exchange Commission of Cambodia is considering a regulation, or prakas, that will require all market participants to maintain a certain ...

Foreign direct investment in the Kingdom soared 250 per cent year-on-year through August even despite the West’s economic woes, Deputy Prime Minister Sok An said yesterday. A total of 87 projects worth US$5.6 billion were approved by the Council for the Development of Cambodia during the ...

Cambodia has lowered its economic growth projection from 7 to 6 per cent for 2011 after more than a month of flood devastation in the Kingdom and continued economic turmoil in the United States and Europe, Deputy Prime Minister Keat Chhon said yesterday. The full impact ...