News

Kim Hyun-joong is looking at you. From a poster outside of a hair salon, from a shop window, in a TV commercial or on local social media sites, the South Korean singer and actor decorates various advertisements in Phnom Penh. But it isn’t just about his ...

As volatility strikes Asian markets in anticipation of the US Federal Reserve winding down quantitative easing – the practice of injecting money into the economy – the National Bank of Cambodia says the Kingdom will remain largely insulated thanks to an investment market still in ...

Continuing its efforts to quell an increasing number of strikes in the Kingdom’s lucrative garment sector, the government this week issued a directive aimed at giving provincial and municipal governors powers to resolve issues at factories without calling on ministries in Phnom Penh. “To ensure further ...

Cambodia’s economy is on track to maintain its robust recovery thanks to a cocktail of private sector and government efforts. In 2012, the Asian Development Bank estimated that gross domestic product grew at a rate of 7.2 per cent, an increase from a 2011 International ...

About 250 laborers working at a newly opened $90-million sugar factory complex in Kratie province-hailed by the government as a boon to Cambodia’s economy-staged a protest last Saturday morning demanding to be reimbursed for two weeks worth of unpaid wages. District governor Heng Soha acted ...

Cambodian Prime Minister Hun Sen on Thursday urged local producers to increase production in order to boost the country’s exports when the Association of Southeast Asian Nations (ASEAN) turns into a community at the end of 2015. He [Hun Sen] said when ASEAN became [sic] ...

The end of export restrictions in Thailand and a lowering of economic growth forecasts out of top rubber importers China, the United States and Germany have caused natural rubber prices around Asia − and in Cambodia’s local industry − to fall from a two-month high. Future ...

While Cambodia has made considerable strides in its banking sector, it still lags behind countries in the region in the areas of e-banking and access to services, industry experts attending the Fifth Banking and Microfinance Conference at the Intercontinental Hotel in Phnom Penh said yesterday. ...

Outstanding loans and deposits made at Cambodian banks grew by 32 per cent and 28 per cent respectively at the end of March this year from a year earlier, according to data from the National Bank of Cambodia (NBC). The data from the NBC that the ...

As Cambodia assesses its development goals, a study has found that many Cambodians want to see an improved judicial system, better education, improved agriculture and more human rights. A broad consortium of local and international development agencies spent the early part of the year conducting conferences ...

Cambodian Prime Minister Hun Sen announced in late March that the nation was on target to move from the status of a low-income to a lower-middle-income nation by the end of 2013, ranking it the 15th country that obtained high economic growth in the world in the ...

“The agriculture sector today is still playing significant role in promoting local production growth, job creation, and contributing to the poverty reduction of the people.  At the same time, the agriculture sector will continue the basic role for economic growth and socio-economic development in Cambodia in ...

Cambodia’s construction sector is facing a massive labor shortage due to a recent boom in construction projects throughout the country and workers migrating en masse to Thailand in search of higher wages. In 2012, the construction sector expanded rapidly with the total value of approved projects ...

As rising economic growth spurred demand for personal loans, Prasac, Cambodia’s biggest microfinance institution (MFI), provided $106 million in loans between March, 2012 and March, 2013, an increase of 66 per cent compared with the corresponding period a year earlier.  “Loans [were] mainly used for service ...

Government action will be needed to ensure that nearly two decades of impressive economic growth continues in Cambodia, the International Monetary Fund (IMF) said in a report published Wednesday. In its 2013 World Economic Outlook, the IMF put Cambodia’s gross do­mestic product (GDP) growth for 2012 ...

Cambodia will start the construction of a new and more modern stadium on Friday, an official said. Prime Minister Hun Sen will preside over the groundbreaking ceremony for the stadium’s construction, covering 83 hectares of land in the commune of Bak Kheng, in the Russey Keo ...

Cambodia’s economic growth is forecast at 7.2 percent in 2013, picking up to 7.5 percent next year as recovery in Europe and the United States takes hold, according to the Asian Development Bank’s annual economic outlook released on Tuesday. The United States and Europe are the ...

Cambodian Prime Minister Hun Sen said he had set a vision that his country will be among countries with upper middle income by the year of 2030. He said Cambodia has laid out strategies and action plans to achieve an annual economic growth of 6-7 ...

The National Assembly’s Commission on Economy on Wednesday rejected the opposition- proposed draft law on minimum wages for garment and state workers. The opposition group proposed the National Assembly to make a law to limit a monthly minimum wage of 150 U.S. dollars for garment ...

Hun Sen said salaries for civil servants and garment workers will increase yearly coinciding with the growth in the economy. Speaking at a graduation ceremony for the Royal University of Phnom Penh (RUPP) at the Koh Pich center on Tuesday, he said during the general assembly ...

Cambodia’s economy is projected to grow by 7 percent this year, Deputy Prime Minister and Finance Minister Keat Chhon said Friday. He said the growth still is contributed by garment exports, tourism, agriculture, real estate and construction. Last year, Cambodia’s GDP per capita was nearly 1,000 ...

Cambodia’s national electricity provider yesterday appealed to the public to unplug from the national energy supply in an effort to alleviate chronic seasonal power shortages that are causing blackouts across Phnom Penh and the rest of the country. Eletricite du Cambodge (EdC) published an announcement asking ...

E. Sun Commercial Bank (玉山銀行), the banking arm of E. Sun Financial Holding Co (玉山金控), yesterday announced plans to buy a 70 percent stake in Phnom Penh, Cambodia-based Union Commercial Bank PLC (UCB) for US$69.33 million to facilitate its expansion into Southeast Asia. “We decided to ...

With Cambodia currently seen as a country where the laundering of illicit cash may be going undetected, an international expert yesterday warned that economic growth and more international trade could leave the country open to financial crime. Gert Demmink, a former head of supervision at ...