Cambodia backs enhanced security role for Japan

Cambodian Foreign Minister Hor Namhong expressed support Monday for Japan’s plan to give its Self-Defense Forces a greater role to contribute to global peace and stability, Japanese Foreign Minister Fumio Kishida said after meeting with his counterpart in Phnom Penh. Japanese Prime Minister Shinzo Abe plans ...

Global Post News Staff

Cambodia reports 1.14 bln USD trade deficit in 1st five months

Cambodia recorded a trade deficit of 1.14 billion U.S. dollars in the first five months of 2014, a latest report by the Ministry of Commerce showed Wednesday. Total trade value jumped to 7.32 billion U.S. dollars during the January-May period this year, an increase of 17 ...

Shanghai Daily News Staff

New registered businesses increase by 33 percent

The number of newly registered businesses in Cambodia increased 33 percent between January and June this year compared to the same time period last year, according to the latest figures from the Ministry of Commerce released Tuesday. The total number of new businesses increased from 1,401 ...

Kang Sothear

Japanese foreign minister to visit Cambodia

Japanese Foreign Minister Fumio Kishida is to make a three-day visit to Cambodia from Sunday, Cambodia’s Foreign Ministry said Monday. While in Cambodia, he will pay courtesy calls and meet with King Norodom Sihamoni, Prime Minister Hun Sen and his Cambodian counterpart Hor Namhong, the ministry ...

Global Post News Staff

Aid, Aeon on agenda for Japan

The Japanese government will offer more than $21 million in grant aid and loans to Cambodia when Foreign Minister Fumio Kishida visits later this month, according to a statement released by the Ministry of Foreign Affairs. According to the statement, Kishida will ink a number of ...

Cheang Sokha

Gov’t continues to seek new markets

The Ministry of Commerce has vowed to uncover more markets for Cambodian products to help buffer against price fluctuations caused by the Kingdom’s dependency on neighboring countries. In a response to concerns raised on social media, Commerce Minister Sun Chanthol wrote on the ministry’s official Facebook ...

Chan Muyhong

New MFI in town, ‘more still needed’

ORO Financecorp Plc held its official launch on Friday, joining the growing ranks of microfinance institutions in the Kingdom. ORO Financecorp started providing business, agricultural and tractor loans in January with a $4 million capital investment from Seng Enterprise Co Ltd of Cambodia and Creed Asia ...

Chan Muyhong

Japan firm buys share of new power plant

In what looks to be a concerted push into the Southeast Asian energy sector, Japanese import and export conglomerate Marubeni Corporation has acquired a large stake of Cambodia’s power generation infrastructure. In a Tokyo Stock Exchange filing dated June 2, Marubeni announced it had purchased a ...

Hor Kimsay

Questions over spending plan

The Council of Ministers on Friday approved a new five-year National Strategic Development Plan (NSDP) – the guiding policy document used by the government – requiring an estimated $26.58 billion in spending and investment, or more than $5.3 billion a year, until 2018. The plan ...

May Kunmakara and Kevin Ponniah

Marubeni powers into Cambodia

Marubeni Corp. said Monday that it would acquire a 20 percent stake in a Cambodia-based electricity generation and transmission business owned and operated by Malaysia’s Leader Group, marking Japan’s first foray into Cambodia’s power market. Leader Infrastructure Ltd. operates two 50 megawatt coal-fired power stations in ...

Kyodo News Staff

South Korea and Japan provide aid

The Japanese and South Korean governments yesterday announced millions of dollars in aid to Cambodia for a scholarship program and a number of rural development projects. Minister of Foreign Affairs Hor Namhong and Japanese Ambassador Kumamaru Yuji signed for a $2.85 million grant yesterday to fund ...

Vong Sokheng and Cheang Sokha

Acleda joins WEF growth club

Cambodia’s largest financial institution, Acleda Bank, has been adopted into the World Economic Forum’s group of Global Growth Companies (GGC), an exclusive club made up of some of the world’s fastest-growing medium-size firms. The WEF yesterday announced that 20 companies from the Asia-Pacific region had been ...

Eddie Morton

Exports to Japan see a big jump

Cambodia’s exports to Japan increased sharply by 39 per cent over the first three months of 2014 compared to the same period last year, according to data from the Japan External Trade Organization (JETRO). Total exports reached more than $178 million at the end of March, ...

May Kunmakara

Victim’s kin ‘no right to cash’

The National Social Security Fund (NSSF) has defended its decision not to pay a survivors’ pension to the family of a teenager killed in a ceiling collapse at the Wing Star Shoes factory in Kampong Speu province last May. On the anniversary of the collapse on ...

Sen David and Mom Kunthear

Wing Star victim’s kin not paid out

When an overloaded and illegally built storage level at the Wing Star Shoes factory in Kampong Speu province collapsed last May 16, officials went into damage control, promising to compensate victims using a relatively new state fund. But one year after teenager Kim Dany and co-worker ...

Shane Worrell

Country’s first Japanese news website launched

Thmey Thmey online news website on Wednesday launched a Japanese-language version of the site to help illuminate the world of Cambodian politics and business for Japanese residents here, as well as those considering relocating or investing in the country. The news site, which was set up ...

Hul Reaksmey and Simon Henderson

Cambodia’s tourism steady

Cambodia’s tourist arrivals registered a 4.7% growth in March according to the country’s statistics and tourist Information Department. The country attracted 400,076 visits compared to 382,206 during the same month last year. Released by the Ministry of Tourism, late last week, data showed Vietnam led the field ...

Wanwisa Ngamsangchaikit

Developers see near completion of cable-stayed bridge as positive for trade and property prices

Set to open next year, Cambodia’s first cable-stayed bridge is now more than 70 per cent complete, according the government. Chhim Phalla, director of the Ministry of Public Work’s Department of International Cooperation, which is overseeing the Neak Loeung Bridge and improvements to National Road 1, ...

Siv Meng and Sum Manet

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