News

Lotteria opens first store in Cambodia

South Korean fast food restaurant Lotteria opened its first outlet in Phnom Penh on June 30. Situated inside the Aeon Mall, the restaurant is focusing on chicken and beef dishes, reflecting Cambodian tastes, including a general avoidance of pork. ...

The Korea Herald News Staff
http://www.koreaherald.com/view.php?ud=20140708001136

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
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=226339

City Hall orders 40 more buses

Phnom Penh City Hall has purchased 40 secondhand buses from South Korea for an expansion of the city’s fledgling public bus service, said a municipal official who declined to reveal the details of the order. City Hall spokesman Long Dimanche said the buses are slotted to ...

Hul Reaksmey
http://www.cambodiadaily.com/news/city-hall-orders-40-more-buses-62352/

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
http://www.cambodiadaily.com/business/new-registered-businesses-increase-by-33-percent-62376/

Cambodia attracts 1.9 mln foreign tourists in 5 months, up 6 pct

Cambodia has received some 1.9 million foreign visitors in the first five months of 2014, a 6 percent rise compared to the same period last year, a tourism official said Tuesday. “Vietnam, China and South Korea are the largest sources of tourists to Cambodia,” Kong ...

Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=226061

Company launches energy-efficient light program

A South Korean company on Monday completed a $100,000 energy-efficient street light initiative in Pursat province, and said it will now invest $100 million to construct a factory to manufacture the lights, officials said. The Global Digital Media Group Co. Ltd. installed 200 light-emitting diode (LED) ...

Hul Reaksmey
http://www.cambodiadaily.com/news/one-china-policy-stymies-citizenship-scam-62210/

South Korean bank buys local MFI

South Korea-based Woori Bank has purchased Cambodian microfinance institution Malis Finance for $4.9 million. Hun Soopheak, general manager of Malis Finance, said the deal was finalised two weeks ago; however, the firm is still awaiting approval from Cambodian regulators. ...

Chan Muyhong
http://www.phnompenhpost.com/business/south-korean-bank-buys-local-mfi

Woori to buy Cambodian microfinance institution

Woori Bank has decided to acquire Cambodia’s microfinance institution Malis Finance for 5 billion won ($4.9 million) to accelerate its global expansion. The Financial Services Commission approved Woori Bank’s acquisition of Malis on Wednesday, according to bank officials. ...

Suk Gee-hyun
http://www.koreaherald.com/view.php?ud=20140619000883

South Korea Denies Asking Gov’t to Stop Strike

The South Korean ambassador to Cambodia, Kim Han-soo, on Monday denied having asked the Labor Ministry to stop a strike at a South Korean-owned garment factory last week, but said the dispute has put a $40 million investment from the parent company on hold. On Sunday, ...

Zsombor Peter and Hul Reaksmey
http://www.cambodiadaily.com/news/south-korea-denies-asking-govt-to-stop-strike-60316/

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
http://www.phnompenhpost.com/national/questions-over-spending-plan

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
http://www.phnompenhpost.com/national/south-korea-and-japan-provide-aid

Cambodia's cassava export drops 13 pct in Q1

Cambodia had exported 213,530 tons of fresh and dry cassava in the first three months of 2014, down 13 percent compared with 245,440 tons over the same period last year, according to the figures provided by the Commerce Ministry on Sunday. However, the country saw a ...

Global Post News Staff
http://www.globalpost.com/dispatch/news/xinhua-news-agency/140525/cambodias-cassava-export-drops-13-pct-q1

Cambodia sees big jump in construction investment in first quarter

Cambodia’s construction sector received a total investment of 851 million U.S. dollars in the first three months of 2014, up 311 percent compared with 207 million U.S. dollars over the same period last year, the official figures showed Thursday. During the January-March period this year, the ...

Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=219820

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
http://www.phnompenhpost.com/business/acleda-joins-wef-growth-club

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
http://www.ttrweekly.com/site/2014/05/cambodias-tourism-steady/

Cambodia receives 1.27 mln foreign tourists in Q1

Cambodia welcomed some 1.27 million international visitors in the first three months of 2014, an 8 percent rise from 1.17 million recorded the same period last year, official data showed Monday. During the January-March period, Vietnam topped the chart among the top ten markets of tourists ...

Asean - China Centre News Staff
http://www.asean-china-center.org/english/2014-05/06/c_133313841.htm

Mechanics school on the way

A new auto-mechanics training school at the National Polytechnic Institute of Cambodia (NPI) that aims to train select Cambodian youth and support a shortage in the labour market officially commenced construction yesterday. In partnership with the Ministry of Labour, joint sponsors the Korean International Cooperation Agency ...

Hor Kimsay
http://www.phnompenhpost.com/business/mechanics-school-way

Hor Namhong censures Ambassador to S Korea

Foreign Minister Hor Namhong has written a letter to the newly appointed Cambodian ambassador to South Korea to censure him over the alleged involvement of his family members in embassy affairs. In the letter, dated Monday, Mr. Namhong warns Ambassador Suth Dina not to allow ...

Hul Reaksmey
http://www.cambodiadaily.com/news/hor-namhong-censures-ambassador-to-s-korea-57360/

De Castle Royal launches leaseback program

In a first for Phnom Penh, South Korean condominium developer Nury D&C has teamed up with SBI Royal Securities to offer condominium buyers a leaseback arrangement on the remaining condo-miniums and condo-minium blocks for sale at De Castle Royal. The 32-storey De Castle Royal has a ...

Post Staff
http://www.phnompenhpost.com/real-estate/de-castle-royal-launches-leaseback-program

US broker partners with Korea's Tongyang Securities in Cambodia

US-based broker Decker and Co has announced a partnership with the Cambodian unit of South Korea’s Tongyang Securities Inc, one of only seven underwriters licensed by the Cambodia Securities Exchange. In a statement late Tuesday, Decker said partnerships with Tong Yang in Cambodia and BPI Securities ...

The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=YjM5ZDFmOTBkOTM

Cambodia's foreign trade up 15% amid ongoing political row

Cambodia’s trade volume with foreign countries has increased by 15 percent in the first quarter of 2014 even though the internal conflict between the ruling and opposition parties over July election results remains unsolved. The figures of the Commerce Ministry showed Tuesday that the Southeast Asian ...

Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=213997

Government says drug seizures, trafficking rose in 2013

Drug seizures jumped last year, while drug arrests remained relatively steady, according to the annual report from the National Authority for Combating Drugs (NACD) released Monday. As in 2012, methamphetamine retained its position as the most commonly seized type of drug. Police confiscated 17.3 kg of methamphetamine ...

Khy Sovuthy
http://www.cambodiadaily.com/news/government-says-drug-seizures-trafficking-rose-in-2013-54862/

Fish imports from Cambodia banned by EU

The European Commission (E.C.) will today ban all fish imports from Cambodia, carrying through on its threat made in November to punish the country for failing to show genuine commitment to tackling the global problem of illegal fishing, according to a memo released Friday. The ban, ...

Zsombor Peter and Simon Henderson
http://www.cambodiadaily.com/news/fish-imports-from-cambodia-banned-by-eu-54770/

New research facility for infectious diseases in Asia unveiled in Cambodia

France’s Institut Pasteur du Cambodge on Tuesday inaugurated a new facility here for a regional research platform in Asia, focusing its research on infectious diseases in the region. Cambodian Health Minister Mam Bunheng, Vincent Deubel, director of the Institut Pasteur du Cambodge, and French Nobel Prize ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/health/2014-03/11/c_133177317.htm

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