Economy and commerce

Big Asian retailer Dairy Farm Group has formed a joint venture with Cambodia’s Lucky Market Group, the operator of Lucky Supermarket and Lucky Burger, according to an announcement yesterday. LMG, which opened its first supermarket in 1993, will join a stable of brands already controlled by ...

Cambodia’s Finance Minister Keat Chhon said Monday that the country’s Gross Domestic Product (GDP) growth is expected at 7 % this year. The forecast is higher than that of the International Monetary Fund, the World Bank and the Asian Development Bank — all forecast at ...

Islamic finance could help to boost trade between Cambodia and the Middle East, as well as attract investment from Muslim-majority countries, experts said on Saturday. Knowledge of Islamic finance and banking, which bars interest lending and discourages unfair trade advantages, is almost nonexistent among Cambodia’s Muslims, ...

A senior official at the Commerce Ministry and the secretary-general of the Garment Manufacturers Association in Cambodia (GMAC) were both silent yesterday regarding a letter sent to the ministry by garment buyers on Friday, urging the government to intensify its investigation of last month’s triple ...

Cambodia’s Finance Minister Keat Chhon said Monday that the country’s Gross Domestic Product (GDP) growth is expected at 7% this year. Cambodia’s forecast was based on the increases in garments exports, tourist arrivals, and agriculture as well as a gradually recovered real estate sector, the ...

Just months before stock exchanges in Southeast Asia plan to link up their trading, key players remain divided, with one top bourse official saying the region may be going through a “reality check” on the many hurdles facing further economic integration. The plan for cross-border trading ...

Some of the world’s largest international clothing brands, along with foreign labor protection groups, have called on the Cambodian government to intensify its investigation of last month’s triple shooting of spectators at a Svay Rieng special economic zone. Signed by several of the biggest customers ...

Cambodia’s Ministry of Industry, Mines and Energy had issued mineral resource exploratory licenses to 24 local and foreign companies in the past year. According to the annual report of the ministry’s mineral resources department released on Friday, the firms are mostly Cambodian-owned ones and those from ...

The provincial office of rights group Licadho has called on Koh Kong provincial politicians to help more than 1,000 families being forcibly evicted to make way for a sprawling gambling resort and other development, representative said yesterday. More than 130 families, from three villages in Kiri ...

The auditor who submitted a report used to convict a husband and wife of embezzling tens of millions of dollars from a company owned by the wife of a tycoon senator admitted yesterday that the quality of his audit was “poor”. The report was used ...

New limitations on Vietnamese exports of processed cashews and slowing demand on the international markets is expected to decrease the price of raw cashews by roughly 40 percent this year, sparking concerns among Cambodian farmers, who are now midway through the harvest season, traders and ...

A US-Asean Business Council delegation will visit Phnom Penh on March 19 and 20 to meet with government officials about current or potential investments in the country, American Cambodian Business Council President Bretton Sciaroni said. The meeting comes after a delegation of 11 Fortune 500 ...

Guangxi Nonferrous Metal Group invested $21.95 million in the construction of a steel processing plant, the data shows. The Chinese company planned to invest as much as $500 million in Preah Vihear province, China’s state-owned Xinhua news agency reported in November. China’s Xing Yuan Kang Yeak ...

The Japanese Embassy in Phnom Penh appealed to the Cambodian government Tuesday to help encourage Japanese investment here by providing corporate tax holidays and reducing notoriously high customs tariffs by adopting more transparent and efficient practices. According to a set of requests prepared by the ...

A tycoon arrested on Tuesday by military police on fraud charges yesterday walked free after striking a deal with the man he defrauded, court officials said. Meas Chanpiseth, deputy prosecutor of the Phnom Penh Municipal Court, said that 52-year-old tycoon Peang Kosal, executive director of the ...

The long awaited first security listing on the Cambodian Securities Exchange became a reality on February 23 with the Security Exchange Commission of Cambodia’s “in principle” approval of Phnom Penh Water Supply Authority’s (PPWSA) “disclosure document for public issuance of equity securities”. This is effectively a ...

The Cambodian Legal Education Center (CLEC) is “extremely concerned” after an investigation following a mass fainting last month at Nanguo garment factory in Preah Sihanouk province last month found that at least one to two workers are fainting daily in eight factories in the province. ...

Bavet city officials ordered a deputy village chief to offer two victims of the Feb. 20 shooting in Svay Rieng province cash or a motorcycle in return for them not filing a court complaint against the man who shot them inside a special economic zone. ...

Leng Sopheap used to wake up before the crack of dawn and walk with crates of vegetables from her farm to the nearby market underneath a blanket so her neighbors wouldn’t know they were buying produce from someone infected with HIV/AIDS. Not long after her ...

Rubber production in early 2012 increased 21 per cent when compared to the end of 2011, according to Mak Kim Hong, president of the Cambodian Rubber Association. He said yesterday that the price of one tonne of good-quality rubber rose to US$3,800 in early 2012, ...

The Governor of Bavet city Chhouk Bundit, who is suspected of being involved in shooting three garment workers last month, was removed from his position to make way for the court to look into the case. “Prime Minister Hun Sen signed a letter on Monday to ...

Central banks in the Association of Southeast Asian Nations plan to set up an “ASEAN bank” system that would make it easier for designated banks to set up subsidiaries and operate throughout the region, according to official sources. The plan to set up ASEAN banks is ...

Protests continued in Prey Veng City yesterday for the second day as more than 1000 residents demonstrated in front of the provincial offices over increases to water prices instituted by a private company that recently took over the city’s water supply, residents said. The Kim ...

Amid safety fears in the construction industry, authorities yesterday refused to reveal the owner of a brand-new industrial building that crashed to the ground in Phnom Penh on Sunday, just days before hundreds were to have set foot in it. Sen Sok district governor Khoun Sreng ...