News
Land Is Life, and It’s Slipping Away
Nean Narin, a humble man and father of three children, says his family is going hungry. Narin lives in the village of Boeung Kak, situated on the edge of Cambodia’s capital, Phnom Penh. For years, he and other villagers relied on the Boeung Kak Lake ...
Major Cineplex comes to Cambodia
Thai-based movie theatre company Major Cineplex said it will build “a high-end lifestyle and entertainment complex” at the Aeon mall in Phnom Penh, hoping to capture Cambodia’s youth market in what it believes is a stable business environment for its entertainment products. While it sees prospects in ...
http://www.phnompenhpost.com/2013021461365/Business/major-cineplex-comes-to-cambodia.html
Private residential property in Cambodia attracting foreign investors
Private residential property in Cambodia is being seen by some investors as relatively cheap, with potential for attractive returns. Industry players believe these factors are the main draw for foreign buyers, looking to grow their money in Cambodia. Keuk Narin, vice president of Asia Real Estate Cambodia ...
http://www.channelnewsasia.com/stories/marketnews/view/1253968/1/.html
MTZ to set up Belarus-Mekong joint venture in Cambodia
Minsk Tractor Works (MTZ trademark) will make a monetary contribution to the authorized capital of a private company Belarus-Mekong that is being set up in Cambodia. Upon the suggestion of the Industry Ministry of Belarus, the Belarusian company will transfer 32 million Cambodian riels (about ...
Preah Vihear Families File Complaints As Land Set Aside for Airport
More than 60 families living in Preah Vihear province filed a complaint with rights group Ahdoc yesterday after officials announced that their land had been set aside for a new airport and would not be measured for private land titles, local officials said. Adhoc Preah ...
Scrutiny over hotel service fees in Cambodia
Major hotels are under the microscope after a labour rights group found that some have been failing to pass their entire service charge on to their staff, a violation of the Labour Law. Dave Welsh, country manager of the American Center for International Labor Solidarity(ACILS), said yesterday ...
Senator's Wife Showers Police, Military With New Year Cash
At 9 a.m. yesterday, more than 200 soldiers, police and military police officers were gathered outside a large mansion on Street 55 in Phnom Penh’s Daun Penh district. All were waiting for their promised “ang pao” – red envelopes containing cash usually handed out during ...
http://www.cambodiadaily.com/news/senators-wife-showers-police-military-with-new-year-cash-9831/
Graduates fear career jobs woe
A year from now, 23-year-old Sum Tiara will graduate from the Royal University of Law and Economics with a degree in law. At the moment, however, she needs to earn a living and pay for her studies by working in bars and restaurants in Phnom Penh. ...
http://www.phnompenhpost.com/2013021261305/Business/graduates-fear-career-jobs-woe.html
Belarus eyes enhanced trade, investment ties with Cambodia
Belarus announced its firm stance to promote bilateral cooperation with Cambodia in trade, investment and tourism for mutual benefits, Vladimir Andreichenko, Chairman of the Belarus Parliament, said Monday. He expressed Belarus’s desire to operate a direct flight to Cambodia. He suggested that the two countries ...
http://news.xinhuanet.com/english/world/2013-02/11/c_132164406.htm
Manulife To Use Tuk-Tuks to Promote Services
Canada-based life insurance company Manulife Cambodia will launch a big advertising campaign on tuk-tuks this year to raise awareness of its services. Manulife Cambodia chief executive Robert J Elliott said the campaign would begin with 75 tuk-tuks. He believes between one and two million people ...
News Analysis: Cambodia Viewed As "Best" Investment Venue For Thais
Cambodia is considered “the most promising country” in the ASEAN community where Thai business entrepreneurs could set up trade and investment projects, according to a noted Thai academic and economist. Roongrote Benjamasuthin, director of the University of Thai Chamber of Commerce’s ASEAN Business & Economic Center, ...
http://news.xinhuanet.com/english/indepth/2013-02/09/c_132162078.htm
Philippines seeks closer ties with Cambodia
Philippines Vice President Jejomar Binay says Cambodian Prime Minister Hun Sen supports the signing of agreements between Manila and Phnom Penh in rice trading and in fighting transnational crime. Cambodian officials have also expressed interest in launching direct flights between Manila and Phnom Penh. ...
French Firm Out of Railway Rehabilition Project
The head of the government department in charge of railways made a dramatic about-face yesterday, saying that French construction firm TSO (Cambodia) Co. Ltd. was being thrown off the donor-funded railway rehabilitation project. Contacted on Tuesday, Ly Borin, director of the Transport Ministry’s railway department, denied ...
Japanese delegation seeks business options
Some 140 Japanese investors arrived in Cambodia yesterday to meet with local government leaders and other stakeholders in an effort to boost economic cooperation between the two countries. According to the Japanese Embassy in Cambodia, the delegation arrived in the country yesterday afternoon, following a visit ...
http://www.phnompenhpost.com/2013020861255/Business/japanese-delegation-seeks-business-options.html
Naga Corp Reports 23 Percent Profit Growth
NagaCorp Ltd., the Hong Kong-listed company that runs Phnom Penh’s only licensed casino, saw its profits grow by 23 percent in 2012, the firm said in an announcement. In its financial results for the year, released Wednesday to the Hong Kong stock exchange, the company that ...
http://www.cambodiadaily.com/business/nagacorp-reports-23-percent-profit-growth-9646/
Union files assault court complaint
The Coalition of Cambodian Apparel Workers’ Democratic Union (C.CAWDU) filed legal complaints yesterday, following allegations on Wednesday that police had assaulted seven garment workers, including a pregnant woman. Sa’ang district police chief Chea Socheat yesterday again denied officers had been violent during a strike ...
http://www.phnompenhpost.com/2013020861260/National/union-files-assault-court-complaint.html
France Ready for Talks on Gas Power Plant
Utilities giant Electricite de France (EdF) is preparing to enter negotiations with Cambodia over the construction of a power plant to use up natural gas locked up in disputed waters off the country’s coast, France’s ambassador-in-waiting to Cambodia said on Tuesday. Serge Mostura, who is still ...
http://www.cambodiadaily.com/business/france-ready-for-talks-on-gas-power-plant-9596/
Government Orders Railway Repairs to Start
The government has ordered French construction firm TSO (Cambodia) Co. Ltd. to resume work repairing the railway line between Phnom Penh and Serei Saophoan City in Banteay Meanchey province, an official said yesterday. The French firm has been contracted to rehabilitate the France-build railway – a ...
Aeon considering more malls in Phnom Penh
More than 4,000 people attended a ceremony in December last year that saw Japan’s largest shopping mall developer and operator, Aeon, breaking ground on its three-storey mall in Phnom Penh, and the company says it is already considering building more in the capital. Aeon Mall ...
Ambition Trumps Reality in Investment Figures
Since 2008, a whopping $28 billion worth of investments has been pledged by local and international firms looking to set up luxury hotels, a new airport and even Cambodia’s first horse racing venue. But a closer look at the list of investments approved by the Cambodian ...
http://www.cambodiadaily.com/business/ambition-trumps-reality-in-investment-figures-9387/
$4m restaurant reflects growing Chinese presence in Cambodia
Old Place Seafood, a Chinese restaurant that cost $4 million, has opened in Phnom Penh. A representative of the restaurant, which is opposite the Chinese embassy, said the growing number of Chinese people in the Kingdom had justified such an investment. Luu Meng, president of the ...
India to supply HR development assistance
Cambodia has asked India to provide more assistance in the development of human resources to promote economic growth and enhance bilateral co-operation. Deputy Prime Minister Sok An made the request during a meeting with Indian human resource development minister Mangapati Pallam Raju in Phnom Penh on ...
http://www.phnompenhpost.com/2013020561182/Business/india-to-supply-hr-development-assistance.html
Australia Courted for Further Railway Funding
The government has asked Australia to provide more funding to help complete the rehabilitation of the dilapidated railway line between Phnom Penh and the Thai border, a spokesman said yesterday. Foreign Affairs Minister Hor Namhong met with Lieutenant General John Sanderson, former chief of the Australian ...
http://www.cambodiadaily.com/business/australia-courted-for-further-railway-funding-9422/
Cambodia to boast its first tractor factory
Cambodia will soon boast its first tractor assembly plant, with operations expected to begin by the third quarter of this year. The one-hectare plant, in Phnom Penh’s Por Sen Chey district, is a joint venture by Belarus-based Minsk Tractor Works, one of the world’s biggest tractor producers, ...
http://www.phnompenhpost.com/2013020461165/Business/cambodia-to-boast-its-first-tractor-factory.html