News
Agriculture sees influx of new firms
The number of new businesses that registered in the first eight months of the year increased 33% to 2,105 compared to the same period last year, according to data released yesterday by the Ministry of Commerce. Officials said that many of the registrations between January and ...
Satellite city deal worth $1.6bn inked in capital
Construction of a US$1.6 billion satellite city on Phnom Penh’s Chroy Changvar peninsula will begin this year after officials inked a contract yesterday with local firm Overseas Cambodia Investment Corporation (OCIC). Dubbed “City of the Future”, the project would include a national stadium, a 60-hectare park, ...
Premier predicts high growth
Cambodia’s economic growth could surpass previous estimates and hit 8.7% this year, Prime Minister Hun Sen said in a speech yesterday. Earlier government forecasts estimated growth of 6% for 2011, though increasing garment exports and a strong recovery in the tourism sector have stimulated the economy ...
http://www.phnompenhpost.com/index.php/2011091351608/Business/premier-predicts-high-growth.html
Cambodia to export rice to United Arab Emirates
Cambodian rice is due to be exported to the United Arab Emirates (UAE) at the end of this year after Cambodia’s rice exporters participate in the Rice International Conference and Exhibition (RICE) 2011, which will be held on November 3-5 in Madinat Jumeirah, Dubai, UAE In ...
Multimodal transport operation will be implemented in ASEAN countries in 2012
In 2012, Cambodia, Thailand, Vietnam, Laos and Myanmar will begin to implement a multimodal transport operations project in order to strengthen the ASEAN regional cross-border transport corridors and promote regional and transport development toward the ASEAN-community integration in 2015, senior officials said this week ...
Business sector feels pinch of govt's minimum wage hike
BANGKOK – The Pheu Thai-led coalition government’s planned 300 baht daily minimum wage hike has forced some businesses to shift their production bases to areas bordering Cambodia and Myanmar, the Employers’ Confederation of Thailand (ECOT) told a seminar on Monday. At a seminar on implementing the ...
ABF Freight Adds Offices in Asia
ABF Freight System Inc. on Monday announced it had opened offices in Indonesia, Japan, Singapore, South Korea, Malaysia, Vietnam, Thailand, Cambodia, Myanmar, the Philippines, India and Sri Lanka. The locations are in addition to ABF offices in China, Hong Kong and Taiwan, ABF said in a ...
http://www.arkansasbusiness.com/article.aspx?aID=128384.54928.140526
Kuwait-India JV to explore for gold, iron in Cambodia
Kuwait’s Pima International Co and D&D Pattnaik Group of India have jointly established Pima D&D International Co to explore for gold and iron in Cambodia The firm plans to invest between US$10 million and $15 million in gold and iron exploration in Kampong Chhnang, Kratie and ...
Radiation detection equipment installed at Sihanoukville Port
In the fulfillment of a 2009 pact made between the US and Cambodia to reduce the risk of terrorist activity, the US National Nuclear Security Administration announced on Thursday that it had installed radiation detection equipment at Sihanoukville Autonomous Port. With the new equipment, the port ...
Bio-fuelled power plant to go online
A rice-husk powered power plant will officially open in Kampong Speu at the end of the year, set to provide electricity to the district’s rice millers, according to officials from operator Golden Rice Cambodia. The US$2 million generator is set to supply power to all of ...
Yingluck adds fuel to gas talks
Deputy Prime Minister and head of the Cambodian National Petroleum Association Sok An has called for the resumption of talks with Thailand over the disputed overlapping claims area in the Gulf of Thailand, believed to be rich in oil and natural-gas reserves. The oil industry had ...
Arbitration council orders an end to strike
The Arbitration Council has ordered more than 700 workers at the Wei Xin garment factory to end a week-long strike they have staged in protest against a spate of issues they have with the company over contracts and payment. A decision handed down on Saturday by ...
Kingdom awaits US trade law
The US House of Representatives has renewed a trade law experts said could have a substantial effect on Cambodia’s exports to the United States, as well as the future of the Kingdom’s manufacturing sector. The Generalized System of Preferences (GSP) program waived tariffs on about US$13 ...
http://www.phnompenhpost.com/index.php/2011091251593/Business/kingdom-awaits-us-trade-law.html
responsAbility Invests $13.5m in Microfinance Institutions (MFIs) VisionFund Cambodia, Equity Bank of Kenya
responsAbility Social Investments AG, a Swiss for-profit company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has invested USD 13.5 million in microfinance institutions (MFIs) Equity Bank of Kenya and VisionFund Cambodia. The investments have been made through three MIVs: ...
Laos aims to build Mekong dam this year, testing neighbours
Laos wants to start construction this year on the $3.8 billion (Bt115 billion) Thai-financed Xayaburi hydropower plant on the Mekong River after changing the design of the dam to placate neighbouring countries opposed to the project. Laos completed a review of the dam recently to ease ...
Labour Ministry releases mass fainting figures
Figures released by the Ministry of Labor on Friday showed that 1,578 garment factory workers have fainted in workplace incidents since the beginning of this year. Pok Vanthat, deputy director of the Labor Ministry’s Medical Unit and chief of its research committee, said that his committee ...
Dozens protest in Phnom Penh over land loss
Sixty villagers from Kratie province staged a protest Friday in Phnom Penh’s Wat Botum Park, claiming that their land had been grabbed by three private companies, and appealed to Prime Minister Hun Sen to intervene in their case. Slesh Vansoekrya, a representative of the villages, said ...
SRP calls to suspend Prey Long rubber firm
Opposition party lawmaker Son Chhay has sent a letter to Deputy Prime Minister Sok An asking for the immediate suspension of a Vietnamese rubber plantation in the endangered Prey Long forest, accusing the firm of illegal deforestation. In the letter dated Wednesday, Mr Chhay also asked ...
Trade unions demand change to draft law
A group of independent trade unions yesterday put forth a list of demands for changes to Cambodia’s first trade union law, which will be finalised by the government in the coming months. Unionists said the revisions were necessary, as the current draft law would undermine unions ...
Cambodia ranked ninth most at risk for disasters
Cambodia was ranked the ninth most at risk country of being exposed to natural disasters out of 173 countries surveyed in a new report by the UN University’s Institute for Environment and Human Security A UNDP report released in August supported the World Risk report’s findings ...
Kingdom's garment shipments still growing
Cambodian garment and textile exports increased nearly 20 per cent in the first eight months of 2011 compared to the same period last year, according to Ministry of Commerce figures. The Kingdom exported US$2.35 billion in garments during the period, a 19.6 per cent increase over ...
Global brands join fainting 'phenomenon' inquiry
At least 24 international apparel brands have pledged to immediately investigate the mass fainting “phenomenon” that has hit the Cambodian garment factories that supply them, the International Labour Organisation says. Executives of global brands had pledged to work together “to determine the precise causes of incidences ...
NBC calls on MFIs to spread risk
The National Bank of Cambodia was pushing microfinance institutions to look to domestic banks for funding in an industry heavily reliant on foreign loans, experts said yesterday. Although the NBC is seeking to foster healthier relationships between MFIs and the Kingdom’s commercial banks, a dearth of ...
http://www.phnompenhpost.com/index.php/2011090951563/Business/nbc-asks-mfis-to-diversify.html