News

PHNOM PENH - As more and more Cambodians enter the job market, with a growing population of young people, there still remain plenty of job opportunities with foreign investors at home, according to a new study by the Ministry of Labor. But people either don’t ...

The Asian Development Bank (ADB) is marking 20 years of operations in Cambodia with the release of a book today celebrating its achievements in the Kingdom. The 67-member ADB says that over 20 years it has given Cambodia $1.8 billion in loans, grants and technical assistance. ...

About 80 ethnic Bunong villagers living in Mondolkiri's Pech Chreada district staged a protest against the Socfin-KCD rubber company Monday, demanding that the firm honor its long-standing pledge to return 1,000 hectares of farmland located inside its concession. ... Socfin-KCD, a join venture between Socfin, a ...

During a visit to Phnom Penh this week, Greg So, Hong Kong’s Secretary for Commerce and Economic Development, reiterated Hong Kong’s desire to be inducted into the ASEAN-China Free Trade Agreement and highlighted Cambodia as a potential beneficiary for foreign direct investment from Hong Kong. In So’s view, economic ...

A lawyer for Norwegian-owned power and electronics equipment firm Eltek Valere yesterday called on investors not to buy stakes in the Thai-owned mobile phone operator Mfone, and to await court's ruling. The lawyer’s appeal came after the Phnom Penh Municipal Court issued a warrant for keeping ...

The Norwegian energy firm Eltek Valere won an injunction from the Phnom Penh Municipal Court earlier this month against the Thai-owned mobile operator Mfone after it filed a complaint claiming that Mfone had failed to pay $3.73 million in service charges, court documents obtained Friday ...

Mobile phone operators Hello Axiata Co. Ltd. and Latelz Co. Ltd. are threatening to take legal action against the Thai-owned firm Mfone for allegedly refusing to pay hundreds of thousands of dollars allegedly owed to them in interconnection fees. In a letter dated October 12 to ...

A report released by the World Bank on Tuesday highlighted Cambodia as the most improved country in terms of businesses getting credit, due to the establishment of the country’s first credit bureau in March. Cambodia ranked 133 out of 185 in the World Bank’s report, up from 141 ...

About 200 families in Koh Kong province’s Botum Sakor district were threatened with legal action yesterday by the district governor, who told them their 100-hectare plantation had been earmarked for development by a Chinese firm, a village representative alleged. ... Two days later, Botum Sakor district ...

An Australian company working towards mining gold from the Okvau deposit in Mondulkiri province, currently estimated at 729,000 ounces, expects to employ more than 1,000 local people during the mine’s construction phase and 500 in the   longer term. Renaissance Minerals managing director Justin Tremain told the ...

Danish marine fuel company Go4 Bunker Denmark yesterday launched the first company in Cambodia to supply ship fuel to  vessels traveling through Cambodia’s waters, according to officials. The launch ceremony for the newly established Go4 Bunker Cambodia Co Ltd yesterday was presided over by Danish Princess ...

Global development group Oxfam on Wednesday called on the World Bank to suspend financing for large-scale land acquisitions to ensure that its practices do not encourage foreign land grabs in developing countries. Oxfam urged Jim Yong Kim, the lender's new president, to announce a six-month moratorium ...

Workers at shuttered plush-toy company First & Main claimed yesterday their bosses had forced them to thumbprint resignation letters they had not written, a plan they feared could deny them severance pay. Mech Mom, a representative of the 357 workers at the US-owned factory, in the ...

As part of its plan to become of the world’s top exporters of rice, Cambodia is looking to increase its rice shipments to the United Arab Emirates, one of the world’s main milled rice importers. Cham Prasidh, Minister of Commerce, met with delegates and businessmen led ...

A new real estate joint venture between local Sonatra Group and Japan’s Grand Corp launched a $6.5 million condominium project in BKK1 yesterday. The 26-storey tower, with 50 units, will be built with high-quality, energy-saving Japanese equipment, according to the new firm’s chief executive, Jun Takeguchi. ...

Vespa, the iconic Italian scooter, is now officially available for purchase in Cambodia-again. Italy-based automobile company Piaggio, in cooperation with the local Narita Group, opened the doors yesterday to the country's first licensed Vespa dealership. ... The new Vespas range in price from $2,950 for the ...

Cambodia is trying to attract foreign investors with manufacturing bases in neighbouring countries, with promises their factories would be safer from flooding. The Phnom Penh Post reported that Commerce Minister Cham Prasidh is appealing to foreign investors with production bases in neighbouring countries, particularly Thailand, to ...

Mirach Energy Ltd., formerly known as China Petrotech Holding Ltd. (CPHL), announced on Tuesday that its Cambodian counterpart, CPHL (Cambodia), had contracted two companies to conduct environmental impact studies for offshore assets in Block D, off the coast of Preah Sihanouk province. Mirach Energy said in ...

Cambodia's Commerce Minister Cham Prasidh said foreign investors with production bases in Thailand ought to consider Cambodia for future expansion because of the Kingdom’s greater resistance to floods. Speaking at Phnom Penh Honda’s 20th anniversary yesterday, the Commerce minister said that while Cambodia faces floods each ...

Employees at the First & Main cuddly-toy company arrived at work yesterday expecting to be paid outstanding wages – instead, a notice on the gates told them all equipment inside the Phnom Penh factory would be auctioned off, because the company was closing for good. The ...

Citibank, one of the largest banks in the US, showed stronger interest in Cambodia yesterday when the Bangkok-based Thailand head of the big international bank met with Economy and Finance Minister Kheat Chhon. ... Mey Vann said Citibank recognized that Cambodia had a good investment climate and incentives ...

A prime piece of Phnom Penh real estate was put up for auction last week by a South Koran government agency attempting to recoup taxpayers' money lost during a bank collapse last year. Bids have been made that could see a new development on the site, ...

The Cambodian Investment Board approved nearly $850 million worth of investment projects between the start of the year and the end of July, data from the Council for the Development of Cambodia (CDC) shows. According to the data, 90 projects worth $845.26 million were approved during the first ...

The commerce minister yesterday urged European businesspeople in Phnom Penh to invest more in Cambodia and not to envy the Chinese firms now dominating the foreign investment scene. Speaking at the gathering of the European Chamber of Commerce in Cambodia, Minister of Trade and Commerce Cham ...