News

IFC helps promote competitiveness and sustainable growth in Cambodia’s garment sector

Despite the challenges of COVID-19, local apparel and textile suppliers have cut energy and water consumption through a range of sustainable solutions under an IFC programme which aims to increase resource efficiency and reduce operating costs. ...

Khmer Times Staff
https://www.khmertimeskh.com/1054211/ifc-helps-promote-competitiveness-and-sustainable-growth-in-cambodias-garment-sector/

Rubber giant to hear villagers’ complaints

More than 15 months after a Global Witness report revealed that Vietnam’s state-owned rubber giant had illegally cleared land and displaced communities in Cambodia, the company has announced that it will accept and respond to complaints from those whose lives it has damaged. Vietnam Rubber Group, ...

Matt Blomberg
http://www.cambodiadaily.com/news/rubber-giant-to-hear-villagers-complaints-67074/

IFC sells stake in Cambodia's commercial bank to Japanese bank

The International Finance Corporation (IFC), a member of the World Bank Group, has sold its 12.25 percent stake in Acleda bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) in an undisclosed amount after having supported Acleda for over 15 years, said an IFC news statement ...

Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=235929

Online registration option to be rolled out to SMEs

The Ministry of Industry and Handicraft will introduce an online registration platform for Cambodia’s small- and medium-sized enterprises (SMEs) this year, a ministry official confirmed yesterday. Heng Sok Kong, secretary of state at the ministry, said the new software for web registration was built in partnership ...

Annie Lee
http://www.phnompenhpost.com/business/online-registration-option-be-rolled-out-smes

HAGL called out at the UN

A Cambodian delegation to the United Nations last week used the stage to shame the World Bank’s financial arm for failing to adequately monitor investments in a Vietnamese rubber giant accused of illegal logging, forced evictions and sexual harassment. Representing 17 indigenous communities in Ratanakkiri that ...

Laignee Barron
http://www.phnompenhpost.com/national/hagl-called-out-un

Rubber firm accused of illegal logging puts Work on Hold

A Vietnamese firm behind several Cambodian rubber plantations accused of rampant land grabbing and illegal logging has bowed to a request from the International Finance Corporation (IFC)—which helps fund its operations—to temporarily suspend forest clearing at some of its local subsidiaries. In an April 28 decision, ...

Zsombor Peter and Aun Pheap
http://www.cambodiadaily.com/news/rubber-firm-accused-of-illegal-logging-puts-work-on-hold-58287/

IFC investigates over ‘land-grabbing link’

The International Finance Corporation (IFC) has launched an internal investigation into a complaint lodged against the institution for investing in a Vietnamese rubber firm accused of illegal logging and land grabbing in Ratanakkiri, an NGO and villager said yesterday. Earlier this month, representatives of the IFC’s ...

Amelia Woodside
http://www.phnompenhpost.com/national/ifc-investigates-over-%E2%80%98land-grabbing-link%E2%80%99

Banks Urged to Divest From Ratanakkiri-Based Rubber Firm

Environmental campaign group Global Witness on Thursday called on the International Finance Corporation (IFC) and Deutsche Bank to divest immediately from a Vietnamese firm whose rubber plantations in Cambodia are accused of rampant illegal logging and forced evictions of indigenous communities. The call came exactly six ...

Zsombor Peter
http://www.cambodiadaily.com/news/banks-urged-to-divest-from-ratanakkiri-based-rubber-firm-47045/

Local cashew nut exports increasing

Cambodia’s cashew-nut exports increased sharply from 443 tonnes in 2011 to 4,453 tonnes last year, according to the Ministry of Commerce. But observers say these figures do not reflect reality, as a large percentage of exports had not been recorded. An expert in cashew nut production, ...

http://www.phnompenhpost.com/2013020661205/Business/local-cashew-nut-exports-increasing.html

Weaving woes -Cambodia’s silk sector faces possible extinction as economic realities force artisans to abandon the craft

In the not-so-distant past, visitors to Koh Dach, an island in the Mekong River about 15 kilometers outside of Phnom Penh, were often struck by the sound as well as the sights that met them there. Among the many crafts on display by local artisans, ...

http://www.etmcambodia.com/viewarticles.php?articlesid=304

IFC seeks more Australian partnerships in emerging markets

INTERNATIONAL Finance Corporation, the private-sector arm of the Washington-based World Bank, has invested $US805 million ($770m) in Australian projects around the world These projects are in 24 countries and in sectors ranging from financial services to infrastructure. IFC is an investor in three Macquarie Group-sponsored infrastructure ...

http://www.theaustralian.com.au/business/world/ifc-seeks-more-australian-partnerships-in-emerging-markets/story-e6frg90o-1226454446510

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