tag:blogger.com,1999:blog-51304341317518707272024-03-23T18:14:07.873+08:00CAMBusinessCambodia Business & Economy News BlogUnknownnoreply@blogger.comBlogger1665125tag:blogger.com,1999:blog-5130434131751870727.post-10580364690720415072012-09-06T21:22:00.001+08:002012-09-06T21:22:10.965+08:00India launches commerce office in Cambodia for trade, investment promotion [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, Unknownnoreply@blogger.com22tag:blogger.com,1999:blog-5130434131751870727.post-60662770641337969892012-09-06T21:21:00.001+08:002012-09-06T21:21:19.507+08:00Cambodia, Iran agree to strengthen economic cooperation [XINHUA]PHNOM PENH, Sept. 3 -- Cambodia and Iran had agreed to enhance bilateral relations and cooperation in economics, trade, investment and culture, a Cambodian senior official said Monday. The verbal agreement was made between Cambodian Prime Minister Hun Sen and Iranian President Mahmoud Ahmadinejad on Aug. 30 when Hun Sen attended the 16th Summit of the Non-Aligned Movement on Aug. 30-31 Unknownnoreply@blogger.com8tag:blogger.com,1999:blog-5130434131751870727.post-2833231971629894882012-09-06T21:20:00.001+08:002012-09-06T21:20:31.589+08:00Cambodia sees slight decrease in rice export in 7 months due to price competition [XINHUA]PHNOM PENH, Sept. 6 -- Cambodia had exported 89,800 tons of milled rice in the first seven months of this year, a 2.6 percent drop from 92,200 tons at the same period in a year ago, showed the statistics from the Ministry of Commerce's Camcontrol Department on Thursday. However, the revenues from the export had increased by 23 percent to 63.4 million U.S. dollars during the January-July Unknownnoreply@blogger.com6tag:blogger.com,1999:blog-5130434131751870727.post-57722165350594041542012-09-06T21:12:00.003+08:002012-09-06T21:12:38.232+08:00Insurance urged for CSX listings [PHNOM PENH POST]
The Ministry of Economy and Finance yesterday urged companies intending to list on the Cambodia Securities Exchange (CSX) to buy insurance to bolster public confidence.Vice
President Bo Chanpiro of the Financial Industry Department of the
Ministry of Economy and Finance said the finance sector relies not only
on the banks and the securities exchange, but also on the Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-5130434131751870727.post-73177698220292895022012-09-06T21:10:00.001+08:002012-09-06T21:10:10.995+08:00India shows interest in cashew nuts processing [PHNOM PENH POST]
India is considering establishing a cashew nut processing factory in
Cambodia to curb exports to India from third countries, according to
officials at the Indian embassy.Dinesh Patniak, the ambassador
to Cambodia, said Cambodia produced a lot of cashew nuts that were sent
to Vietnam for processing, then exported to India.“We thought
about why the nuts have been exportedUnknownnoreply@blogger.com3tag:blogger.com,1999:blog-5130434131751870727.post-75886807390910179552012-09-06T21:07:00.001+08:002012-09-06T21:07:12.704+08:00Ensure fairness, Kirk advises[PHNOM PENH POST]
US Trade Representative Ron Kirk
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 itsUnknownnoreply@blogger.com3tag:blogger.com,1999:blog-5130434131751870727.post-66721046399799268892012-09-06T21:04:00.001+08:002012-09-06T21:04:27.305+08:00Silk Air smoothly running 20 years on[PHNOM PENH POST]
Silk Air Cambodia Manager Tan Han Soon
This month Singapore-based regional carrier Silk Air is offering
discounts on trips booked before the end of this month for travel until
March 31 next year.From Phnom Penh, fares include US$768 for a
return trip to Darwin, Australia, not including taxes and surcharges,
and $1,218 to and from Frankfurt, London or Paris, or service Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-5130434131751870727.post-56586594678711143622012-09-03T21:57:00.005+08:002012-09-03T21:57:59.906+08:00ASEAN push for integration[PHNOM PENH POST]
ASEAN economic ministers on Friday agreed to spur stronger cooperation
and make more of an effort to enhance the region’s integration in
preparation for the ASEAN Economic Community (AEC) in 2015.Speaking
during the press conference on the closing of the 44th ASEAN Economic
Ministers’ Meeting and related meetings in Siem Reap during the last
week in August, Cham PrasidhUnknownnoreply@blogger.com1tag:blogger.com,1999:blog-5130434131751870727.post-1423169008483076262012-09-03T21:56:00.000+08:002012-09-03T21:59:23.675+08:00$70m from India for power
[PHNOM PENH POST]
Ambassador Dinesh Patnaik of India to Cambodia
India is financing the construction of a US$70 million transmission line
to bring electricity from hydroelectric projects in Laos to Cambodia,
according to Indian Chamber of Commerce President Debasish Pattnaik.
Speaking
yesterday after the official launch of the Indian Chamber of Commerce
in Cambodia (ICC), Pattnaik Unknownnoreply@blogger.com8tag:blogger.com,1999:blog-5130434131751870727.post-90022295521568927712012-03-22T20:36:00.000+08:002012-03-22T20:36:11.346+08:00Ford 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,Unknownnoreply@blogger.com47tag:blogger.com,1999:blog-5130434131751870727.post-38559968390933498092012-03-22T20:33:00.002+08:002012-03-22T20:33:24.168+08:00Cambodia to fill gap in aviation training[PHNOM PENH POST]
An aviation training centre was being planned that would allow the Kingdom to meet the demands of its surging tourism market, a State Secretariat of Civil Aviation official said yesterday.About
1.5 million visitors arrived in Cambodia by air in 2011, a 16 per cent
jump over the year before, according to Ministry of Tourism figures.As
a result, the SSCA aims to launch a US$5Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-52624473288925448672012-03-22T20:32:00.001+08:002012-03-22T20:32:17.373+08:00Credit bureau launches after delays[PHNOM PENH POST]
The Credit Bureau of Cambodia officially
commenced operations at its Phnom Penh headquarters on Monday,
according to CBC spokesman Steve Vaile, almost four years from when the
idea for the bureau was first conceived. The CBC, a joint venture between Australia and New Zealand-based Vida Advantage, the Cambodia Microfinance Association and Association of Banks in CambodiaUnknownnoreply@blogger.com4tag:blogger.com,1999:blog-5130434131751870727.post-70991114476009593692012-03-22T20:29:00.002+08:002012-03-22T20:29:35.634+08:00Siem 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 Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-58465175724334751852012-03-22T20:25:00.003+08:002012-03-22T20:25:40.935+08:00Toll 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 Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-50337313927058659802012-03-14T23:06:00.001+08:002012-03-14T23:06:22.937+08:00Cambodia 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, Unknownnoreply@blogger.com31tag:blogger.com,1999:blog-5130434131751870727.post-71978668874777903542012-03-14T23:05:00.000+08:002012-03-14T23:05:19.890+08:00Cambodia's garment industry creates 335,400 jobs by 2011[XINHUA]PHNOM PENH, March 13 -- Cambodia has 309 garment and textile factories as of last year, employing some 335,400 workers - 91 percent of them are female, according to reports released by the country's Ministry of Commerce on Tuesday. It said the sector spent about 408 million U.S. dollars for workers' salaries last year. Garment and textile industry is the country's largest income maker. Unknownnoreply@blogger.com16tag:blogger.com,1999:blog-5130434131751870727.post-38061109412638718132012-03-14T23:02:00.003+08:002012-03-14T23:02:47.042+08:00PPWSA stock offering slated to outperform[PHNOM PENH POST]
The Kingdom’s first initial public offering is fast approaching, and demand is expected to be robust.Book-building,
the process during which bids for the IPO are taken and a price is set
for shares, ended yesterday. The final offering price is expected before
the subscription for the IPO begins March 29, with the listing date set
for April 18.PPPWSA shares will be Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-5130434131751870727.post-15882027435408603282012-03-14T23:01:00.004+08:002012-03-14T23:01:45.410+08:00Toll 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 Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-8415839405290320772012-03-14T23:00:00.000+08:002012-03-14T23:00:27.225+08:00Rubber 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, Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-42690452721072517252012-03-13T15:59:00.003+08:002012-03-13T15:59:36.339+08:00Cambodia's footwear exports rise 49 pct in 2011[XINHUA]PHNOM PENH, March 12 -- Cambodia had exported footwear products in equivalent to 264 million U.S. dollars last year, a 49 percent rise from 177 million U.S. dollars in a year earlier, a report by the Ministry of Commerce showed on Monday. It said that the main markets for Cambodia-made shoes are the United States, European countries, Canada, Japan and some Asian countries. According to Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-28097791239508991742012-03-13T15:58:00.004+08:002012-03-13T15:58:38.653+08:00Cambodia expects 7 pct GDP growth in 2012: Finance Minister[XINHUA]PHNOM PENH, March 12 -- Cambodia's Finance Minister Keat Chhon said Monday that the country's Gross Domestic Product ( GDP) growth is expected at 7 % this year. The forecast is higher than that of the International Monetary Fund, the World Bank and the Asian Development Bank -- all forecast at 6.5 % this year. Cambodia's forecast was based on the increases in garments exports, tourist Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-60260219429611459112012-03-13T15:52:00.003+08:002012-03-13T15:52:33.934+08:00Lucky sells big stake to Asian retail giant[PHNOM PENH POST]
Big Asian retailer Dairy Farm Group has formed a joint venture with
Cambodia’s Lucky Market Group, the operator of Lucky Supermarket and
Lucky Burger, according to an announcement yesterday.LMG, which
opened its first supermarket in 1993, will join a stable of brands
already controlled by Dairy Farm, including Cold Storage, Giant and
Guardian in Malaysia and Hero in Unknownnoreply@blogger.com17tag:blogger.com,1999:blog-5130434131751870727.post-90391471358177381682012-03-13T15:51:00.002+08:002012-03-13T15:51:22.413+08:00Financing Cambodia’s Muslims[PHNOM PENH POST]
Islamic finance could help to boost trade between Cambodia and the
Middle East, as well as attract investment from Muslim-majority
countries, experts said on Saturday.
Knowledge of Islamic finance and banking, which bars interest lending
and discourages unfair trade advantages, is almost nonexistent among
Cambodia’s Muslims, which comprise about 2 per cent of the Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-1039330819153603842012-03-09T16:35:00.002+08:002012-03-09T16:35:19.941+08:00Cambodia grants mine exploratory licenses to 24 firms in 2011: gov't report[XINHUA]PHNOM PENH, March 9 -- Cambodia's Ministry of Industry, Mines and Energy had issued mineral resource exploratory licenses to 24 local and foreign companies in the past year. According to the annual report of the ministry's mineral resources department released on Friday, the firms are mostly Cambodian-owned ones and those from China and Vietnam. They have been exploring mineral resources Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5130434131751870727.post-41766041162670660862012-03-09T16:34:00.003+08:002012-03-09T16:34:26.240+08:00Investment 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 Unknownnoreply@blogger.com0