[XINHUA]
PHNOM PENH, Sept. 2 -- The office of the Indian Chamber of Commerce was officially launched here on Sunday to promote economic, trade and investment ties between the two countries.
The commerce office is to act on behalf of Indian business organizations and individuals for business facilitation, regulatory exchange as well as to promote India-Cambodia economic and bilateral relations, said a press release at the launching ceremony.
"It will act as the platform to guide Indian investments into Cambodia," said the press release.
Speaking at the event, Debasish Pattnaik, president of the Indian Chamber of Commerce in Cambodia, said the office was to be a liaison between Cambodia and India business houses and representing the private sector by showcasing the multiple opportunities both countries have to offer to each other.
"Our goal is to offer access to resources and network opportunities for anyone interested or active in investment or trade amongst Cambodia or India," said Pattnaik, who is also vice chairman and CEO of a Cambodia-based D&D Pattnaik Group of Companies.
Showing posts with label Investment. Show all posts
Showing posts with label Investment. Show all posts
September 6, 2012
Ensure fairness, Kirk advises
[PHNOM PENH POST]
Cambodia needs to ensure fair treatment of both domestic and foreign
investors if it wants to attract more foreign investors, accordsing to
US Trade Representative Ron Kirk.
Kirk presented the idea during a press conference last week in Siem Reap durig the ASEAN-US Business Summit by saying that Cambodia has done a good job in opening its economy to the world. However, he said, the country still had more work to do.
“Generally, what businesses want is predictability, transparency, good rules or laws, strong social protection that they can get a good work force, a good location, and give them equal treatment – there is no discrimination,” he said.
 |
| US Trade Representative Ron Kirk |
Kirk presented the idea during a press conference last week in Siem Reap durig the ASEAN-US Business Summit by saying that Cambodia has done a good job in opening its economy to the world. However, he said, the country still had more work to do.
“Generally, what businesses want is predictability, transparency, good rules or laws, strong social protection that they can get a good work force, a good location, and give them equal treatment – there is no discrimination,” he said.
September 3, 2012
$70m from India for power
 |
| Ambassador Dinesh Patnaik of India to Cambodia |
Speaking yesterday after the official launch of the Indian Chamber of Commerce in Cambodia (ICC), Pattnaik said Laos has signed an agreement with the Asian Development Bank (ADB) to finance the transmission lines from Laos to Stueng Trang and the $70 million soft loan from the Indian government would finance the line from Stueng Trang to Kratie.
March 22, 2012
Ford plant opens in Sihanoukville
[PHNOM PENH POST]
A Ford assembly plant in Preah Sihanouk province will supply Cambodia’s
limited but growing car market, the American carmaker’s local
representative RMA Cambodia announced yesterday.
The US$3 million investment, wholly owned by RMA, has a capacity of up to 6,000 vehicles per year, and is expected to drop the domestic price of the Ford Everest model by up to 25 per cent, according to RMA CEO Rami Sharaf.
Initial production figures, however, were undetermined as the Kingdom’s second vehicle assembler tested the market.
“We’re cascading down to the consumer,” Sharaf, who is also chairman of the Cambodia Automotive Industry Chamber, said yesterday. “Production will depend on the demand we see in the market this year.”
The US$3 million investment, wholly owned by RMA, has a capacity of up to 6,000 vehicles per year, and is expected to drop the domestic price of the Ford Everest model by up to 25 per cent, according to RMA CEO Rami Sharaf.
Initial production figures, however, were undetermined as the Kingdom’s second vehicle assembler tested the market.
“We’re cascading down to the consumer,” Sharaf, who is also chairman of the Cambodia Automotive Industry Chamber, said yesterday. “Production will depend on the demand we see in the market this year.”
Siem Riep proposed airport said to be on track
[PHNOM PENH POST]
A senior government official has said construction on the US$1 billion airport project in Siem Reap was still on track despite the recent arrest of a key person in charge of the project.
Plans and designs for the New Siem Reap International Airport had been submitted to the government and construction was scheduled to begin as early as next month, Council of Ministers secretary of state and NSRIA Steering Committee chairman Tek Reth Samrach claimed.
NSRIA CEO Lee Tae-hwan was recently sentenced to seven years in prison for involvement with fraudulent loans at the Busan Savings Bank, local media reported.
The NSRIA project was a joint venture between two South Korean companies, Camco Airport Co Ltd and Lees A&A Co Ltd.
The assets of Busan Savings Bank, which backed the airport and the real estate mega-project Camko City, were forwarded to the government-owned Korea Deposit Insurance Corporation last year, according to Ernst Lee, at Korea’s Financial Services Commission.
A senior government official has said construction on the US$1 billion airport project in Siem Reap was still on track despite the recent arrest of a key person in charge of the project.
Plans and designs for the New Siem Reap International Airport had been submitted to the government and construction was scheduled to begin as early as next month, Council of Ministers secretary of state and NSRIA Steering Committee chairman Tek Reth Samrach claimed.
NSRIA CEO Lee Tae-hwan was recently sentenced to seven years in prison for involvement with fraudulent loans at the Busan Savings Bank, local media reported.
The NSRIA project was a joint venture between two South Korean companies, Camco Airport Co Ltd and Lees A&A Co Ltd.
The assets of Busan Savings Bank, which backed the airport and the real estate mega-project Camko City, were forwarded to the government-owned Korea Deposit Insurance Corporation last year, according to Ernst Lee, at Korea’s Financial Services Commission.
Toll trains said to stop March 31
[PHNOM PENH POST]
Toll Group has informed the Cambodian government that it will suspend
all railway operations and lay off half of its Cambodian staff at the
end of the month, according to a source familiar with the situation.
The Australian logistics firm, which in partnership with Royal Group of Companies holds a 30-year lease to operate the Kingdom’s national railway, reportedly told the government of its plan last Friday, Paul Power, a consultant to the Ministry of Public Works and Transportation (MPWT), told the Post yesterday.
“The major reason is the rehabilitation [of the railway] is well behind schedule. And Toll believes, rightly or wrongly, the schedule of rehabilitation doesn’t meet with their business objectives,” he said by phone, adding that discussions between Toll and the Cambodian government had been ongoing since last summer.
The Australian logistics firm, which in partnership with Royal Group of Companies holds a 30-year lease to operate the Kingdom’s national railway, reportedly told the government of its plan last Friday, Paul Power, a consultant to the Ministry of Public Works and Transportation (MPWT), told the Post yesterday.
“The major reason is the rehabilitation [of the railway] is well behind schedule. And Toll believes, rightly or wrongly, the schedule of rehabilitation doesn’t meet with their business objectives,” he said by phone, adding that discussions between Toll and the Cambodian government had been ongoing since last summer.
March 14, 2012
Cambodia lures more investments in food,textile industries: finance minister
[XINHUA]
PHNOM PENH, March 13 -- A number of investors have recently directed their investments in Cambodia in food processing and garment and textile industry, Minister of Economy and Finance Keat Chhon said here Tuesday.
Speaking at the launch of the results of the 2011 Economic Census, the minister said the country has huge potential for food processing because it has abundant raw materials, especially rice, for food processing for exports.
On the garment and textile industries, he said, Cambodia has been granted custom duty-free for exporting to European countries.
The country initiated four food processing projects with a total investment of 45 million U.S. dollars last year. These rice processing, beer and soft drinks projects were joint ventures with China, and Malaysia. Cambodida has set up 92 new garment factories with investment totaling 405 million dollars. Investors are from South Korea, China, China's Taiwan, Malaysia, Japan, the United States, Britain, Mauritius, and Samoa.
PHNOM PENH, March 13 -- A number of investors have recently directed their investments in Cambodia in food processing and garment and textile industry, Minister of Economy and Finance Keat Chhon said here Tuesday.
Speaking at the launch of the results of the 2011 Economic Census, the minister said the country has huge potential for food processing because it has abundant raw materials, especially rice, for food processing for exports.
On the garment and textile industries, he said, Cambodia has been granted custom duty-free for exporting to European countries.
The country initiated four food processing projects with a total investment of 45 million U.S. dollars last year. These rice processing, beer and soft drinks projects were joint ventures with China, and Malaysia. Cambodida has set up 92 new garment factories with investment totaling 405 million dollars. Investors are from South Korea, China, China's Taiwan, Malaysia, Japan, the United States, Britain, Mauritius, and Samoa.
Toll Group alleged to be leaving rail project
[PHNOM PENH POST]
Australian logistics company Toll Group is allegedly pulling out of its 30-year concession to operate the Kingdom’s national railway, according to the Sydney Morning Herald.
Citing “reliable sources”, an SMH report said Toll would leave its US$145 million Toll Royal Railway joint venture with Cambodia’s Royal Group of Companies. No reason was given for the decision, and a Toll Group spokesman declined to comment for the article.
The Post last month contacted a number of the partners involved in the project amid speculation that Toll Group was frustrated with the pace of the rail’s redevelopment and had decided to leave Cambodia. Officials denied any such claims.
Royal Group’s Kith Meng rejected the allegations when reached by phone in late February, and he declined to comment when asked again yesterday about the project.
Toll Royal CEO David Kerr last month also denied the claims. “Definitely not true. Toll pulling out has not been discussed.”
Australian logistics company Toll Group is allegedly pulling out of its 30-year concession to operate the Kingdom’s national railway, according to the Sydney Morning Herald.
Citing “reliable sources”, an SMH report said Toll would leave its US$145 million Toll Royal Railway joint venture with Cambodia’s Royal Group of Companies. No reason was given for the decision, and a Toll Group spokesman declined to comment for the article.
The Post last month contacted a number of the partners involved in the project amid speculation that Toll Group was frustrated with the pace of the rail’s redevelopment and had decided to leave Cambodia. Officials denied any such claims.
Royal Group’s Kith Meng rejected the allegations when reached by phone in late February, and he declined to comment when asked again yesterday about the project.
Toll Royal CEO David Kerr last month also denied the claims. “Definitely not true. Toll pulling out has not been discussed.”
Rubber drives agro investment
[PHNOM PENH POST]
The value of approved agricultural projects in 2011 increased by more than 30 per cent compared to the year before, according to data from the Council for the Development of Cambodia.
The CDC approved 24 projects worth US$724.9 million last year, $674 million of which was in rubber plantations. Agro industry and rice milling attracted about $30 million and $19 million, respectively, the data showed. More than 82 per cent of the investment dollars came from overseas.
Cambodia’s potential for rubber cultivation, coupled with rising international demand in 2011, led to greatly increased foreign investment in rubber plantations, director general of Rural Development Bank Son Koun Thor said yesterday.
The government made rubber a priority sector due to high international prices, he said.
Most of the rubber investment came from Indonesia, Vietnam and Malaysia, business and economics lecturer at the University of Cambodia Chheng Kimlong said yesterday.
The value of approved agricultural projects in 2011 increased by more than 30 per cent compared to the year before, according to data from the Council for the Development of Cambodia.
The CDC approved 24 projects worth US$724.9 million last year, $674 million of which was in rubber plantations. Agro industry and rice milling attracted about $30 million and $19 million, respectively, the data showed. More than 82 per cent of the investment dollars came from overseas.
Cambodia’s potential for rubber cultivation, coupled with rising international demand in 2011, led to greatly increased foreign investment in rubber plantations, director general of Rural Development Bank Son Koun Thor said yesterday.
The government made rubber a priority sector due to high international prices, he said.
Most of the rubber investment came from Indonesia, Vietnam and Malaysia, business and economics lecturer at the University of Cambodia Chheng Kimlong said yesterday.
March 9, 2012
Investment in mining operations falls sharply
[PHNOM PENH POST]
Guangxi Nonferrous Metal Group invested $21.95 million in the construction of a steel processing plant, the data shows. The Chinese company planned to invest as much as $500 million in Preah Vihear province, China’s state-owned Xinhua news agency reported in November.
China’s Xing Yuan Kang Yeak Co invested about $8.5 million in gold mining and Phu Yang Co, a Cambodian-Vietnamese joint venture, invested $800,000, according the data, which does not reveal the location of the projects.
New mining investment in Cambodia fell more than 71 per cent year over year in 2011, according to the data.
A $75 million investment in copper mining from Nim Meng Group, a Taiwanese-Cambodian joint venture, buoyed the 2010 figures.
Richard Stanger, president of the Cambodian Association for Mining and Exploration Companies, confirmed yesterday that international companies had reduced exploration in Cambodia as they developed other projects.
“There was a drop-off in exploration activity last year. Some companies were focusing on exploration in other countries,” Stanger said, adding that he expected signs of a turnaround this year.
Guangxi Nonferrous Metal Group invested $21.95 million in the construction of a steel processing plant, the data shows. The Chinese company planned to invest as much as $500 million in Preah Vihear province, China’s state-owned Xinhua news agency reported in November.
China’s Xing Yuan Kang Yeak Co invested about $8.5 million in gold mining and Phu Yang Co, a Cambodian-Vietnamese joint venture, invested $800,000, according the data, which does not reveal the location of the projects.
New mining investment in Cambodia fell more than 71 per cent year over year in 2011, according to the data.
A $75 million investment in copper mining from Nim Meng Group, a Taiwanese-Cambodian joint venture, buoyed the 2010 figures.
Richard Stanger, president of the Cambodian Association for Mining and Exploration Companies, confirmed yesterday that international companies had reduced exploration in Cambodia as they developed other projects.
“There was a drop-off in exploration activity last year. Some companies were focusing on exploration in other countries,” Stanger said, adding that he expected signs of a turnaround this year.
March 2, 2012
Japanese entrepreneurs eye investment in Cambodia
[XINHUA]
PHNOM PENH, March 1 -- A group of 25 young Japanese entrepreneurs are in Cambodia to explore business opportunities.
The entrepreneurs are involved in businesses in the fields of education, consultancy, real-estate, telecommunication, banking and finance.
The group led by Hideo Okubo, Chairman and CEO of Forval Corporation, met with Cambodian officials led by the minister of commerce Cham Prasidh on Thursday.
Hideo Okubo said it was the first time the delegation came to Cambodia to seek business opportunities after they were aware that the country is politically stable and has a lot of potential for investment.
Cham Prasidh also said the country enjoys political stability, macro-economic stability and preferential law and regulations for investors.
PHNOM PENH, March 1 -- A group of 25 young Japanese entrepreneurs are in Cambodia to explore business opportunities.
The entrepreneurs are involved in businesses in the fields of education, consultancy, real-estate, telecommunication, banking and finance.
The group led by Hideo Okubo, Chairman and CEO of Forval Corporation, met with Cambodian officials led by the minister of commerce Cham Prasidh on Thursday.
Hideo Okubo said it was the first time the delegation came to Cambodia to seek business opportunities after they were aware that the country is politically stable and has a lot of potential for investment.
Cham Prasidh also said the country enjoys political stability, macro-economic stability and preferential law and regulations for investors.
Cambodia attracts over 8.9 bln USD investment from China in 17 years
[XINHUA]
PHNOM PENH, March 1 -- Cambodia has attracted 8.9 billion U.S. dollars in investment from China from 1994 to 2011, making China become the largest investor in this Southeast Asian nation, showed the reports of the Council for the Development of Cambodia (CDC) on Thursday.
The second largest investor here is South Korea with the total investments of 4.04 billion U.S. dollars and Malaysia third with 2. 61 billion U.S. dollars.
China's investments in Cambodia are in the fields of energy, mineral resources, garment industry, banking and finance, real estate, tourism and agriculture.
The report said that in 2011 alone, Cambodia received up to 1. 19 billion U.S. dollars from China, up 71 percent from 694 million U.S. dollars in a year earlier.
PHNOM PENH, March 1 -- Cambodia has attracted 8.9 billion U.S. dollars in investment from China from 1994 to 2011, making China become the largest investor in this Southeast Asian nation, showed the reports of the Council for the Development of Cambodia (CDC) on Thursday.
The second largest investor here is South Korea with the total investments of 4.04 billion U.S. dollars and Malaysia third with 2. 61 billion U.S. dollars.
China's investments in Cambodia are in the fields of energy, mineral resources, garment industry, banking and finance, real estate, tourism and agriculture.
The report said that in 2011 alone, Cambodia received up to 1. 19 billion U.S. dollars from China, up 71 percent from 694 million U.S. dollars in a year earlier.
$100m fund to target Kingdom’s growth
[PHNOM PENH POST]
Vietnam-based Dragon Capital is raising up to US$100 million for a new Indochina fund, some of which the private equity firm would invest in Cambodian agriculture and infra-structure, Dragon’s chief information officer Bill Stoops said yesterday.
While the majority of the fund will be invested in Vietnamese companies, Stoops said there was considerable opportunity in Cambodia. “We believe there are a lot of big-ticket projects in Cambodia right now,” he said by phone, although he declined to name the projects.
The firm will also look at some investments in manu-facturing, Stoops said. Dragon Capital has a 20 per cent stake in Prassac, Cambodia’s largest microfinance institution by outstanding loans. The firm managed $1.2 billion in 2010, according to its website.
Vietnam-based Dragon Capital is raising up to US$100 million for a new Indochina fund, some of which the private equity firm would invest in Cambodian agriculture and infra-structure, Dragon’s chief information officer Bill Stoops said yesterday.
While the majority of the fund will be invested in Vietnamese companies, Stoops said there was considerable opportunity in Cambodia. “We believe there are a lot of big-ticket projects in Cambodia right now,” he said by phone, although he declined to name the projects.
The firm will also look at some investments in manu-facturing, Stoops said. Dragon Capital has a 20 per cent stake in Prassac, Cambodia’s largest microfinance institution by outstanding loans. The firm managed $1.2 billion in 2010, according to its website.
February 28, 2012
Firms receive 1.67 million hectares of economic concessional land from Cambodian gov't
[XINHUA]
PHNOM PENH, Feb. 28 -- Cambodia has granted economic concessional land of 1.67 million hectares to 169 local and foreign firms so far; however, 51 of them with 479,000 hectares have been revoked licenses because they failed to comply with contracts and master-plans, said a senior government official on Tuesday.
Currently, there are 118 valid firms with 1.19 million hectares of economic concessional land in 17 provinces, Ith Nody, a secretary of state at the Ministry of Agriculture, Forestry and Fisheries, said Tuesday in the annual meeting of the Ministry of Land Management.
He said that among the valid firms, 41 companies are owned by local investors and 77 are foreign firms.
Among the foreign firms, 27 from China, 28 from Vietnam, 5 from South Korea, 5 from Thailand, 2 from the United States, 3 from Malaysia, 3 from India and one each from Singapore, Israel, Australia and Sweden.
Cambodia has begun to grant economic concessional land to private investors since 1993, aiming at boosting agricultural and agro-industrial plantation and processing for exports, which is expected to create jobs and generate incomes for the people living in the rural area.
A company can get maximum 10,000 hectares of economic concessional land for maximum 99 years.
Agricultural crops in that economic concessional land are rubber, oil palm, sugar cane, acacia, eucalyptus trees and cassava, he said.
PHNOM PENH, Feb. 28 -- Cambodia has granted economic concessional land of 1.67 million hectares to 169 local and foreign firms so far; however, 51 of them with 479,000 hectares have been revoked licenses because they failed to comply with contracts and master-plans, said a senior government official on Tuesday.
Currently, there are 118 valid firms with 1.19 million hectares of economic concessional land in 17 provinces, Ith Nody, a secretary of state at the Ministry of Agriculture, Forestry and Fisheries, said Tuesday in the annual meeting of the Ministry of Land Management.
He said that among the valid firms, 41 companies are owned by local investors and 77 are foreign firms.
Among the foreign firms, 27 from China, 28 from Vietnam, 5 from South Korea, 5 from Thailand, 2 from the United States, 3 from Malaysia, 3 from India and one each from Singapore, Israel, Australia and Sweden.
Cambodia has begun to grant economic concessional land to private investors since 1993, aiming at boosting agricultural and agro-industrial plantation and processing for exports, which is expected to create jobs and generate incomes for the people living in the rural area.
A company can get maximum 10,000 hectares of economic concessional land for maximum 99 years.
Agricultural crops in that economic concessional land are rubber, oil palm, sugar cane, acacia, eucalyptus trees and cassava, he said.
Cambodia's rubber sector attracts 674 mln USD investment last year, up 117 pct
[XINHUA]
PHNOM PENH, Feb. 23 -- Cambodia had granted licenses to 20 investment projects in rubber plantations and processing plants with the total investment cost of 674 million U.S. dollars, according to a government report on Thursday.
It showed a 117 percent rise in the rubber investment last year from only 311 million U.S. dollars with 15 projects in a year earlier, said the report of the Council for the Development of Cambodia.
The countries invested in the sector last year are Vietnam--14 projects with the investment of 630 million U.S. dollars, Australia--2 projects with 25 million U.S. dollars, and Cambodia-- 4 projects with 19 million U.S. dollars.
Rubber is one of the top priority cash crops for Cambodia. In the future, the government expects that the crop will become the second leading income earner in agricultural sector after rice paddy.
Last year, the country had exported 46,730 tons of rubber latex, an increase of 55 percent from 30,095 tons in a year earlier, according to the statistics of the Commerce Ministry on Monday.
PHNOM PENH, Feb. 23 -- Cambodia had granted licenses to 20 investment projects in rubber plantations and processing plants with the total investment cost of 674 million U.S. dollars, according to a government report on Thursday.
It showed a 117 percent rise in the rubber investment last year from only 311 million U.S. dollars with 15 projects in a year earlier, said the report of the Council for the Development of Cambodia.
The countries invested in the sector last year are Vietnam--14 projects with the investment of 630 million U.S. dollars, Australia--2 projects with 25 million U.S. dollars, and Cambodia-- 4 projects with 19 million U.S. dollars.
Rubber is one of the top priority cash crops for Cambodia. In the future, the government expects that the crop will become the second leading income earner in agricultural sector after rice paddy.
Last year, the country had exported 46,730 tons of rubber latex, an increase of 55 percent from 30,095 tons in a year earlier, according to the statistics of the Commerce Ministry on Monday.
February 22, 2012
Rubber investments in Kingdom jump 255%
[PHNOM PENH POST]
Investment in Cambodian rubber plantations increased by 255 per cent in 2011 on rising global demand for the commodity.
There were 20 new projects worth US$675 million in the Kingdom last year, according to data from the Council for the Development of Cambodia. There were nine projects worth $190 million in 2010.
Cambodia is one of Southeast Asia’s last rubber-planting destinations.
The majority of the investment came from Asian countries as a result of increased global demand for rubber, in particular demand from the tyre industry.
There were 20 new projects worth US$675 million in the Kingdom last year, according to data from the Council for the Development of Cambodia. There were nine projects worth $190 million in 2010.
Cambodia is one of Southeast Asia’s last rubber-planting destinations.
The majority of the investment came from Asian countries as a result of increased global demand for rubber, in particular demand from the tyre industry.
February 21, 2012
Hard investment: Chinese firm eyes Kingdom investment
[PHNOM PENH POST]
A Chinese company is aiming to invest in cement production in Cambodia,
according to officials at the Ministry of Industry, Mines, and Energy
(MIME).
The China Triumph International Engineering Company (CTIEC) would become one of Cambodia’s biggest cement producers and would invest in the Kingdom, said assistant to the CTIEC president Ma Mingliang.
Although contracts for producing cement in Cambodia had been given out to various local companies, said Sim Sisokha, director of the Development Department at MIME, CTIEC’s proposed investments would be welcomed because some local companies lack the capital for large-scale production.
Investing in Cambodian cement production is risky, however, says Khov Phallabuth, a local investor in Kampot Cement Co, a joint venture with Thailand’s Siam Cement Group.
The country lacks the natural resources to produce large quantities of cement, he says.
The China Triumph International Engineering Company (CTIEC) would become one of Cambodia’s biggest cement producers and would invest in the Kingdom, said assistant to the CTIEC president Ma Mingliang.
Although contracts for producing cement in Cambodia had been given out to various local companies, said Sim Sisokha, director of the Development Department at MIME, CTIEC’s proposed investments would be welcomed because some local companies lack the capital for large-scale production.
Investing in Cambodian cement production is risky, however, says Khov Phallabuth, a local investor in Kampot Cement Co, a joint venture with Thailand’s Siam Cement Group.
The country lacks the natural resources to produce large quantities of cement, he says.
February 20, 2012
Bank of Tokyo opens Phnom Penh office
[PHNOM PENH POST]
Japan's second-largest bank, Bank of Tokyo-Mitsubishi UFJ, officially opened a represent-ative office in Phnom Penh on Friday.
The office would serve as an information centre for potential investors and hoped to attract more Japanese companies, Masato Miyachi, general manager of the bank’s Asia and China division, said.
“We will further development in Cambodia by offering effective information geared towards the needs of our Japanese customers,” Miyachi said.
The office would serve as an information centre for potential investors and hoped to attract more Japanese companies, Masato Miyachi, general manager of the bank’s Asia and China division, said.
“We will further development in Cambodia by offering effective information geared towards the needs of our Japanese customers,” Miyachi said.
February 17, 2012
Investment jumps 159%
[PHNOM PENH POST]
The total approved investment jumped about 159 per cent year-on-year in
2011 to US$7.021 billion from $2.7 billion the year before, official
data from the Council of the Development of Cambodia (CDC) showed.
The tourism, industry and agricultural sectors saw dramatic increases, 1,993.57 per cent, 203.48 per cent, and 31 per cent respectively, the data showed.
It showed total investment in the tourism sector reaching $2.760 billion with 8 projects, up from $132 million the year before.
Industry attracted $2.869 billion with 113 project, of which 78 were in the garment sector, compared to $945 million in 2010.
The tourism, industry and agricultural sectors saw dramatic increases, 1,993.57 per cent, 203.48 per cent, and 31 per cent respectively, the data showed.
It showed total investment in the tourism sector reaching $2.760 billion with 8 projects, up from $132 million the year before.
Industry attracted $2.869 billion with 113 project, of which 78 were in the garment sector, compared to $945 million in 2010.
February 13, 2012
Cambodia attracts 92 new garment factories with 405 mln USD capital last year
[XINHUA]
PHNOM PENH, Feb. 11 -- The Council for the Development of Cambodia (CDC) had granted operating licenses to 92 new garment factories with the total investment of 405 million U.S. dollars in 2011, its report showed Saturday.
South Korea was leading in the garment investment here last year with 21 factories, following by Hong Kong 17, Taiwan 17 and Chinese mainland 15.
The report said that in 2010, there were only 44 factories opened in the country with the capital of only 128 million U.S. dollars.
Garment industry is the country's largest income maker. The sector earned total revenues of 4.24 billion U.S. dollars last year, representing 87 percent of the country's total exports.
The whole industry consisted of more than 300 factories, employing more than 300,000 people, mostly women from rural areas.
PHNOM PENH, Feb. 11 -- The Council for the Development of Cambodia (CDC) had granted operating licenses to 92 new garment factories with the total investment of 405 million U.S. dollars in 2011, its report showed Saturday.
South Korea was leading in the garment investment here last year with 21 factories, following by Hong Kong 17, Taiwan 17 and Chinese mainland 15.
The report said that in 2010, there were only 44 factories opened in the country with the capital of only 128 million U.S. dollars.
Garment industry is the country's largest income maker. The sector earned total revenues of 4.24 billion U.S. dollars last year, representing 87 percent of the country's total exports.
The whole industry consisted of more than 300 factories, employing more than 300,000 people, mostly women from rural areas.
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