News

The government has granted China’s Xinwei Telecom a license to become the country’s tenth mobile phone operator and the second firm to roll out so-called 4G technology, the fastest and most advanced network currently available on the market. Those in the telecommunications industry said that the ...

State-owned Telecom Cambodia has signed a business cooperation agreement with Vietnam National Post and Telecommunications Corp in order to bolster TC’s product portfolio and coverage area, company officials said yesterday. Telecom Cambodia offers both fixed-line phone and internet services in the Kingdom. Vietnam National Post and ...

Vietnam’s Military Commercial Joint-Stock Bank (MB Bank) will open its doors in Phnom Penh today, becoming the fourth Vietnamese bank to set up operations here and bringing the total number of commercial banks in Cambodia to 31. Nguon Sokha, general director of the National Bank of ...

Investment approved between January and October surpassed those last year by  US$160 million, according to a report from the Council for the Development of Cambodia. The 126 local and foreign investment projects through October, worth about $6 billion, overshadowed the $5.8 billion in the whole of ...

Fifteen foreign investments worth $344 million were approved by the government’s investment board in October, most of which were in the garment industry, according to data obtained this week ...

Officials were mum yesterday about the proposed construction of an oil refinery by a Chinese firm in Preah Sihanouk and Kampot provinces, and provincial authorities said the company had not yet been granted any land for the proposed project. Ter Chimnarith, deputy director of Kampot province’s ...

The National Bank of Cambodia yesterday granted Industrial and Commercial Bank of China a financial business licence, according to a report on aastocks, a Chinese stocks news service ...

Five years after the government established the country’s special economic zones (SEZs), the Phnom Penh SEZ, Sihanoukville II SEZ, and Manhattan SEZ in Svay Rieng province are at last starting to attract more business. According to data from the Council for the Development of Cambodia (CDC), ...

For the fifth time in a row, Cambodia’s top investment partner, China, has been ranked among the most likely to pay bribes, according to an international corruption perception report published yesterday. Transparency International’s Bribe Payer’s Index classed China as second-to-last among 28 of the world’s biggest ...

South Korean investors were in Phnom Penh yesterday seeking opportunities in electronics manufacturing, an industry that experts have said could represent the next stage of growth for Cambodia’s economy. Eleven delegates from Changwon City, South Korea, a manufacturing hub in the country, met with 70 local ...

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 ...

According to a Sept 4 press release from the Council for Development of Cambodia (CDC), there are currently a total of 19 SEZs and most of them are situated along Cambodia’s borders with Vietnam and Thailand. Eight are fully operational with both local and foreign ...

Three car import companies have established an automotive industry association to bring international standard quality vehicles to Cambodia. The companies are RMA Cambodia, Hung Hiep Cambodia and Envothech Cambodia. The objective is to boost the level of foreign investment in the sector Commerce Minister Cham ...

Cambodian officials say the country’s economic growth rate is set to exceed seven percent this year. According to financial analysts even if the global economy slows, Cambodia is well prepared to deal with it, partly because of strong foreign investment. But the billions of dollars ...

The evictions and so-called “land grabs” have angered aid donors, putting at stake hundreds of millions of dollars in foreign aid as well as a trade scheme that gives Cambodian produce tariff-free access to the EU. International donors and lenders such as the World Bank ...

Phnom Penh–Kong Song’s farmland was his family’s livelihood for three decades until the bulldozers moved in and tore down his home in rural Cambodia to make way for a multimillion dollar foreign-led business. His family was one of 253 forcibly evicted five years ago in southern ...

The China National Food Industry (Group) and Cambodia’s Le Ye Rubber on August 13th signed a Memorandum of Understanding on a cooperation agreement to acquire one million cassava product exports from Cambodia to China Cai Yong Feng [President of China National Food Industry Group] said: ...

According to the statement from the national bank of Cambodia (NBC), the country’s international reserves increased by 2.912 million US dollars so far this year with guaranteeing to import for four months. “For the management of the international reserves, we have implemented the policy with ...

With growing uncertainty in the US economy and an unfolding fiscal and debt crisis in the Eurozone after the global recession in 2008, Asia is expected to continue leading the global recovery. Under such circumstances, the 21st Century is emerging as the “New Asian Century”, ...

Southeast Asia needs to push ahead with a regional free trade bloc and policies to cope with global financial crises, Indonesia’s government said yesterday. Indonesia’s Vice President Boediono, addressing trade ministers from the Association of Southeast Asian Nations (ASEAN), said it was evident since the ...

The Cambodia Chamber of Commerce re-elected Royal Group chairman Kith Meng for his second three-year term as president yesterday. The presidents of 11 provincial chambers of commerce voted for Mr Meng, who is also president of the Phnom Penh Chamber of Commerce. ...