CAMBusiness

Kingdom considers oil imports from Iran

2012-01-30T17:29:00.003+08:00

[PHNOM PENH POST] Cambodia plans to import and refine oil from Iran, a spokesman from the Council of Ministers has said, just one among several proposed forms of strengthened co-operation between the two countries.The announcement comes at a time when the United States and European Union have approved some of the toughest sanctions yet against the Islamic country.Cambodian officials have

Unlicensed property firms targeted by government

2012-01-30T17:27:00.002+08:00

[PHNOM PENH POST] The Ministry of Economy and Finance is urging the public to use the services only of licensed real estate operators, and is calling for unlicensed real estate valuation and sales companies to legalise their operations. According to a statement released on Friday, the MEF has licensed 43 real estate valuation and estate service agent companies to legally operate in Cambodia

Seafood spat leaves bitter taste

2012-01-30T17:26:00.000+08:00

[PHNOM PENH POST] Nautisco Seafood Manufacturing Limited, the Kingdom’s bellwether seafood processor, is slated for a restructuring after its parent company claimed minority shareholder Leopard Capital had put Nautisco in “dire financial health”.Leopard Capital, a leading private-equity firm in the Kingdom, yesterday criticised the move, saying representatives from majority shareholder

Tomato Café

2012-01-29T16:06:00.002+08:00

[LIFT Magazine] While globalisation continues to spur rapid development in the Kingdom, Cambodians are becoming increasingly likely to adopt foreign styles. Many have changed the way they dress, eat and even think. Consequently, there are many foreign investments continuing to arrive in town, including Western-style fashion shops and restaurants. Along the busy Tep Pond Blvd, where

A career as a managing director of CBM

2012-01-29T16:04:00.001+08:00

[LIFT Magazine] Businesses in Cambodia have grown rapidly over the past few years. Restaurants, hotels and shopping and entertainment centres all over Phnom Penh have given the city a new, modern look. Kouch Sokly, 34, a very successful businessman and managing director for CBM Corporation Co, sees Cambodia as a country with a wealth of opportunities. CBM, which operates fast food chains

Young entrepreneurs and businesspeople in Cambodia

2012-01-29T16:02:00.002+08:00

[LIFT Magazine] Business seems to be valued over studying by a growing number of Cambodian youths. They say that doing business is more beneficial and they can be their own boss, unlike a job taken because it is relevant to a studied subject. Hence, we see some university graduates turning their attention to business instead. However, due to their young ages, they tend to encounter

Cambodian-U.S. micro-lenders cooperate to improve agriculture finance

2012-01-27T21:54:00.003+08:00

[XINHUA]PHNOM PENH, Jan. 27 -- The United States government is partnering with a Cambodian microfinance institution, the Thaneakea Phum, to facilitate 2.71 million U.S. dollars in loans over the next four years to underserved Cambodian farmers and micro, small, and medium agricultural enterprises, according to a U.S. Embassy's press released on Friday. The lending will focus on those farmers in

Hotelier books profits in capital

2012-01-27T21:46:00.002+08:00

[PHNOM PENH POST] Cambodia’s year-on-year tourism growth has drawn more investment in the hotel sector. The Little Garden, a boutique hotel in Phnom Penh that opened just six months ago, continues to draw a large number of foreign visitors. Phnom Penh Post reporters Sorn Sarath and Siem Bunthy interviewed The Little Garden’s owner, Pisey Pech, who opened the hotel with local partners and

Kingdom’s 2011 GDP hits 6.9%

2012-01-27T21:44:00.001+08:00

[PHNOM PENH POST] Cambodia's gross domestic product grew 6.9 per cent year-on-year in 2011, and is set to increase to 6.5 per cent this year, according to preliminary projections from the Ministry of Economy and Finance. Agriculture, which was hit hard by floods last year, climbed 3.3 per cent, according to the ministry’s website. At the same time, industry was up 14.3 per cent, while

Large jump in number of workers to Korea

2012-01-27T21:42:00.002+08:00

[PHNOM PENH POST] Cambodian migrant workers to South Korea increased by about 135 per cent in 2011, making Cambodian nationals the fourth-biggest migrant worker population in the East Asian country.A recently expired ban on Vietnamese and Indonesian workers in South Korea accounted for the increased demand for labour from countries in the region, Cambodian labour officials said.The Kingdom

ACLEDA Securities starts receiving Trading Account Opening

2012-01-26T22:23:00.002+08:00

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South Korea eyes investment in Cambodia's oil, gas sector

2012-01-26T22:09:00.003+08:00

[XINHUA]PHNOM PENH, Jan. 26 -- South Korea is willing to invest in oil and gas industry in Cambodia, said a senior Korean official on Thursday. "Korea is interested in investing in oil and gas and energy sector in Cambodia," Jae Hyun Shin, South Korea's visiting ambassador in charge of energy and mineral resources cooperation, said during a meeting with Cambodia's Prime Minister Hun Sen. He also

Gold Mining in Cambodia: Attractive but Risky

2012-01-26T22:06:00.004+08:00

[GoldInvestingNews.com] Nestled between Vietnam and Thailand is Cambodia, a poor country with a basket of largely untapped resources that include gold. Within the past decade the surge of interest in the country’s mining prospects has been met with positive response from the Royal Government. For Cambodia, the mining sector may be a key to economic growth, meanwhile for investors, there may

Cebu Air Inc : CEB launches direct flights to Siem Reap, Cambodia

2012-01-26T22:03:00.003+08:00

[4-traders.com] Only airline to operate flights between the Philippines and Cambodia The Philippines' largest national flag carrier, Cebu Pacific (PSE:CEB) will become the only airline flying direct from Manila to Siem Reap in Cambodia when it launches its flights on April 19, 2012. It will be a thrice weekly service, utilizing one of Asia's youngest aircraft fleets. "Adventurous backpackers

Cambodia sees trade deficit of 1.73 bln USD in 2011

2012-01-26T21:59:00.005+08:00

[PHNOM PENH POST] PHNOM PENH, Jan. 25 -- Cambodia recorded a trade deficit equivalent to 1.73 billion U.S. dollars in 2011, according to the statistics of the Commerce Ministry on Wednesday. It showed that the country's total import and export value was 11.47 billion U.S. dollars last year, up 39 percent from 8.26 billion U.S. dollars in a year earlier. The imports last year jumped by 38

Nation needs cash to meet its fish target for 2019

2012-01-26T21:50:00.002+08:00

[PHNOM PENH POST] At least US$78 million would be needed to develop Cambodia’s fisheries sector in the next decade if the government was to reach its fish production target of 1.2 million tonnes by 2019, officials said at a ceremony on Monday. Nao Thouk, director-general of the Fisheries Administrat-ion at the Ministry of Agriculture, Forestry and Fisheries, said his department would need

Foreign joint venture eyes banana farming in Koh Kong province

2012-01-26T21:48:00.002+08:00

[PHNOM PENH POST] A Japanese firm and an Australian company planned to invest more than US$35 million in a banana plantation, a factory and a port in Koh Kong province, the Ministry of Agriculture, Forestry and Fisheries said yesterday.Australia-based Indochina Gateway Capital and Japan’s Sumifru Corporation would jointly invest in banana cultivation in the province’s Thma Baing district,

Agriculture to see lending growth

2012-01-26T21:47:00.001+08:00

[PHNOM PENH POST] Some commercial banks could increase loans to the agricultural sector this year, according to industry insiders who cited improvements in the sector and a rise in crop prices. Cambodian farmers lack the capital needed for inputs such as seeds and fertiliser, while domestic rice millers often can’t get credit to purchase large quantities of paddy, insiders said. Experts

Garment firms shifting base from China to Cambodia

2012-01-24T20:49:00.001+08:00

[Fibre2fashion.com] Abundant supply of labour coupled with preferential market access to several markets is making the Southeast Asian nation of Cambodia one of the preferred alternatives for garment companies wishing to shift their manufacturing base outside China. Wages in China have risen by 18-20 percent annually during the past three years, leading to an increase in the cost of production,

Cambodian per capita GDP likely to reach 1,000 USD in 2013: PM

2012-01-24T20:48:00.003+08:00

[XINHUA] PHNOM PENH, Jan. 24 -- Cambodian Prime Minister Hun Sen said Tuesday that the country's per capita GDP is expected to reach 1,000 U.S. dollars in 2013 from merely 830 U.S. dollars at the end of 2010. In the medium term, the country's economic growth is expected to be at least 6 percent annually and the poverty rate will decline at least one percent a year, he said in a meeting with 26

MIME backs Kingdom SMEs

2012-01-23T17:36:00.001+08:00

[PHNOM PENH POST] The Ministry of Industry, Mines and Energy is set to provide a total of US$800,000 to small and medium enterprises as part of an initiative to strengthen the sector’s technical and competitive strategy.As many as 30 companies would receive the financing, Meng Satheara, the ministry’s general director of industry, said. “The most important help is to upgrade technological

2011 rubber prices surge 132 per cent on demand

2012-01-23T17:35:00.001+08:00

[PHNOM PENH POST] Cambodia's 2011 rubber exports and export prices grew by 55 per cent and 131 per cent respectively, according to data from the Ministry of Commerce obtained by the Post.The data shows rubber exports last year totalled 46,727 tonnes, compared to 30,040 tonnes in 2010. Export prices also rose to $200.9 million from US$86.76 million in 2010.Last year’s surge was primarily

Growing a business naturally

2012-01-20T16:43:00.003+08:00

[PHNOM PENH POST] HCC Group executive director Chan So Kheang HCC Group Co Ltd began importing natural fertiliser from Japan in 2007 in order to bring non-chemical growing agents to the Kingdom. The company delivered 500 tonnes to Cambodia in its first year, and 10,000 tonnes in 2011. Phnom Penh Post reporter Siem Bunthy interviewed HCC Group executive director Chan So Kheang about the

Export figures up 42% in 2011

2012-01-20T16:41:00.002+08:00

[PHNOM PENH POST]Strong growth in garment, textile and agricultural exports drove a 42.7 per cent year-on-year increase in Cambodia’s total exports for 2011, official Ministry of Commerce data shows.The Kingdom exported US$4.98 billion in goods last year, compared with $3.49 billion the year before.Market diversification and a relaxing of rules of origin in the euro zone fuelled last year’s

Investment in Cambodia's construction grow 102 pct in 2011

2012-01-19T22:08:00.002+08:00

[XINHUA]PHNOM PENH, Jan. 18 -- Cambodia's construction sector recovered with a total investment of 1.7 billion U.S. dollars in 2011, an increase of 102 percent from a year earlier, according to the statistics of the Ministry of Land Management, Urban Planning and Construction on Wednesday. Last year, the ministry granted licenses to 2,129 construction projects nationwide, slightly down from 2,149