EU assists land reform
March 26th, 2012, The Phnom Penh Post, Foreign Aid, Technical Assistance
The European Union had provided more than US$265,000 to a land reform project that aimed to shift political will and opinion towards land and human rights in Cambodia, development partners said yesterday.
The Cambodian Centre for Human Rights will spearhead the Cambodian Land Law Reform Project, which aims to make land rights an election issue for the 2012 commune and the 2013 national assembly elections. …
Bridget Di Certo and Chhay Channyda, P. 5
http://www.phnompenhpost.com/index.php/2012032655241/National-news/land-reform-gets-eu-assist.html
Hu’s visit in Cambodia boosts ties
March 26th, 2012, Xinhua News, Foreign Aid, Foreign Investment, International Relations, Technical Assistance
The upcoming visit of Chinese president Hu Jintao to Cambodia next week will build closer ties between the two countries, China and ASEAN as the visit is coincided with the 20th ASEAN Summit, said a senior official Sunday.
The visit will also create more confidence among foreign investors in Cambodia’s political and economic stability, said Khieu Kanharith, Cambodian Minister of Information and Government Spokesman, in an exclusive interview with Chinese media.
Hu Jintao is scheduled to pay a four-day state visit to Cambodia from March 30 to April 2 at the invitation of Cambodian King Norodom Sihamoni, according to a press release from Cambodia’ s Foreign Ministry. …
Xinhua
http://en.ce.cn/National/Politics/201203/26/t20120326_23188224.shtml
Australian FM hails Cambodia for rapid growth, political stability
March 26th, 2012, Xinhua News, Agriculture & Agri-business, Economics, Foreign Aid, Infrastructure, International Relations, Technical Assistance
Visiting Australian Foreign Minister Bob Carr on Monday praised Cambodia for its rapid economic growth in recent years and political stability.
Bob Carr said that Australian Development Assistance Program has allocated 77 million U.S. dollars to Cambodia in 2011-2012, focusing on agriculture development, health, services, infrastructure and access to justice.
He added that Australia will continue to assist Cambodia in the future. …
Xinhua
http://news.xinhuanet.com/english/world/2012-03/26/c_131490522.htm
Project to curb floods
March 22nd, 2012, The Phnom Penh Post, Construction, Foreign Aid, Technical Assistance
…The Phnom Penh municipality is set to begin contruction on Monday for a project funded by the Japanese government, in order to improve both the infastructure of the city’s drainage system and its capability to handle flood water. …
Khouth Sophakchakrya
http://www.phnompenhpost.com/index.php/2012032255192/National-news/project-to-curb-floods.html
Japanese aid tabbed for health, roadwork
March 21st, 2012, The Phnom Penh Post, Economics, Foreign Aid, Technical Assistance
In a ceremony at the Ministry of Foreign Affairs and International Cooperation yesterday, the Japanese government officially granted aid of 974 million yen (about US$12.2 million) to the Cambodian government.
The Honorable Masafumi Kuroki, Japanese ambassador to Cambodia, said his country had made the donation to help accelerate economic and social development in Cambodia in order to improve the living standards and welfare of its people. …
Khouth Sophakchakrya, P. 3
http://www.phnompenhpost.com/index.php/2012032155164/National-news/japanese-aid-tabbed-for-health-roadwork.html
PRASAC takes $2m loan from Dutch firm
March 19th, 2012, The Phnom Penh Post, Foreign Aid
PRASAC Microfinance Institution, Cambodia’s biggest MFI by outstanding loans, has received a US$2 million loan from the Netherlands Development Finance Company…
May Kunmakara, P. 7
http://www.phnompenhpost.com/index.php/2012031955101/Business/prasac-takes-2m-loan-from-dutch-firm.html
The arrival of the stock market and its implications
March 16th, 2012, The Phnom Penh Post, Business & Commercial Development, Foreign Investment, Infrastructure, International Relations, Stock Exchange, Technical Assistance
It began in November of 2006 with a memorandum of understanding (MOU) between the Ministry of Economy and Finance (MEF) and the Korean Exchange (KRX) titled “The Development of the Securities Market of Cambodia.”
A further MOU between the parties in January, 2008 established the Cambodia Securities Exchange (CSX), of which the MEF owns 55 per cent and the KRX own 45 per cent.
On July 11, 2011, the CSX was inaugurated, however without any listed equities to trade. The launch of Cambodia’s equity market finally came to fruition Februry 29 with the commencement of book-building by sole underwriter, book runner and lead manager Tongyang Securities (Cambodia) for the primary offering of Phnom Penh Water Supply Authority, the first initial public offering in Cambodia.
An IPO is the first sale and issue of a company’s shares to investors on a public exchange. A company may require equity to expand, develop new products, purchase buildings or equipment, to acquire another company or simply for working capital. There are generally two methods to raise capital, through debt financing or equity financing. ….
Anthony Galliano, P. 2 - Stock Exchange Education Report Supplement
http://www.phnompenhpost.com/index.php/Special-Reports/the-arrival-of-the-stock-market-and-its-implications.html
Underwriter for first IPO bullish on Phnom Penh Water and the CSX
March 16th, 2012, The Phnom Penh Post, Business & Commercial Development, Economics, Foreign Investment, Infrastructure, International Relations, Stock Exchange, Technical Assistance
The head of the underwriting team that will launch Cambodia’s first IPO April 18 is Han Kyung Tae, Managing Director of Tongyang Securities (Cambodia) PLC and a South Korean stock market specialist. …
Tongyang Securities (Cambodia) Ltd. is the Cambodian subsidiary of Tongyang Group, a South Korean Conglomerate in financial services, information technology and manufacturing.
…in December of 2006, the Korea Stock Exchange and the Ministry of Economy and Finance signed a Memorandum of Understanding, and that’s when Tongyang began to focus on stock exchange projects. Han’s team became exclusive financial advisor to the Ministry of Economy and Finance.
“We started working with MEF and advised them that the first group of companies listed in the new stock exchanges were always the best state-run companies. Then the government finally chose Phnom Penh Water Supply Authority and two other SOEs, Cambodia Telecom and Sihanoukville Port. …
Post Staff, P. 2 - Stock Exchange Education Report Supplement
http://www.phnompenhpost.com/index.php/Special-Reports/underwriter-for-first-ipo-bullish-on-phnom-penh-water-and-the-csx.html
China to continue helping Cambodia with infrastructure
March 13th, 2012, Xinhua News, Construction, Foreign Aid, Foreign Investment, Infrastructure, International Relations, Technical Assistance
China will continue to help Cambodia with its infrastructure and raise living standard of its people, said Pan Guangxue, Chinese ambassador to Cambodia here Monday.
Speaking at the inauguration ceremony of Cambodia’s 57 national road Battambang-Pailing section in Battambang, Pan said “The completion of the road will help elevate the country’s regional economic development, especially in terms of agricultural product export, and also heighten the local people’s living standard.” …
Started in November 2008, the construction of 103-km road is financed by the Export-Import Bank of China and undertaken by China Road and Bridge Corporation.
Xinhua
http://www.chinadaily.com.cn/bizchina/2012-03/13/content_14820472.htm
Farmers with HIV/AIDS Gain Confidence, Skills With Program
March 8th, 2012, The Cambodia Daily, Agriculture & Agri-business, Agro-Industry, Business & Commercial Development, Farming, Livestock, Rice, Social Concerns, Technical Assistance
Leng Sopheap used to wake up before the crack of dawn and walk with crates of vegetables from her farm to the nearby market underneath a blanket so her neighbors wouldn’t know they were buying produce from someone infected with HIV/AIDS.
Not long after her early morning trips to the market, though, Ms. Sopheap, 47, who was diagnosed with HIV/AIDS in 2007, heard about a project aimed at helping infected people improve their livelihoods through farming. That’s when her luck changed. …
Since 2005, Cedac staff members have trained 309 people – all of them infected with HIV/AIDS – in the practices of domesticating livestock, implementing new agricultural techniques and growing a wide range of organic produce, Cedac program officer Hour Sreng Said. “Already, farmers are selling more and gaining confidence,” Mr. Sreng said. …
Thor Sina and Olesia Plokhii, P. 17
http://www.camnet.com.kh/cambodia.daily/ (Note: Infrequently Updated.)
World Bank Still Searching for Country Manager
March 2nd, 2012, The Cambodia Daily, Disputed Land, Foreign Aid, Land Tenure, Technical Assistance
The World Bank said yesterday that it is continuing to search for a new country manager following the departure of Quimiao Fann last month for a new role in the former Soviet Union. A Chinese national and economist by training, Mr. Fan has been the top World Bank official permanently based in Cambodia since September 2008.
“We are in the process of recruiting a new country manager, and in the interim, Ms. Asmeen Khan is appointed as acting country managers for Cambodia,” said World Bank spokesperson Bou Saroeun. The spokesman said the World Bank hadno target date for filling the post. Ms. Khan is the Bank’s lead government specialist for East Asia and the Pacific.
Mr. Fan’s tenure at the World Bank was marked perhaps most prominently by the World Bank’s decision last year to freeze all new loans to the country to protest the eviction of thousands of Phnom Penh families in the wake of a CPP senator’s real estate project. …
Zsombor Peter, P. 17
http://www.camnet.com.kh/cambodia.daily/ (Note: Infrequently Updated.)
Asian Development Bank Takes Over Lead Foreign Donor Role
March 1st, 2012, The Cambodia Daily, Foreign Aid, Technical Assistance
The Asian Development Bank (ADB) is taking over from the World Bank as lead foreign donor in Cambodia following the departure of the World Bank’s country manager, the ADB said yesterday.
The switch followed a year in which the World Bank imposed a funding freeze on Cambodia, which remains in effect, over the government’s handling of a controversial real estate project.
“As a result of the departure of the World Bank country director [Qimiao Fan] for a new assignment, the development partners convened on 14 February and elected the ADB as lead [development partner] facilitator and US Aid as alternate,” ADB Country Director Putu Kamayana said in an email. “The term will be for one year and will be renewable.”
http://www.camnet.com.kh/cambodia.daily/ (Note: Infrequently Updated.)
China donates equipment to Cambodia for 2012 ASEAN meetings
February 27th, 2012, Xinhua News, Foreign Aid, Technical Assistance
The government of China on Monday delivered office supplies and equipment worth $403,000 to Cambodia in order to ease the country’s burden when it hosts the ASEAN summit and related Summits this year.
The office supplies and equipment included 200 sets of desktops, 60 sets of laser printers, 100 sets of laptops, 5 sets of projectors, 50 voice recorders, 20 fax machines, 5 color duplicators, 10 sets of binding machines and 20 flatbed scanners.
The handover ceremony was made between the Ambassador of China to Cambodia Pan Guangxue and Cambodia’s Deputy Prime Minister Hor Namhong, minister of foreign affairs and international cooperation.
“The donation is to express China’s full support to Cambodia for chairing ASEAN this year,” said Pan Guangxue. “China hopes that these supplies and equipment will help Cambodian staff work effectively in hosting ASEAN summits this year.”
Meanwhile, Hor Namhong said that the office supplies and equipment were very necessary for Cambodia to use for the work of ASEAN meetings. …
Xinhua
http://www.philstar.com/Article.aspx?articleId=781793&publicationSubCategoryId=200
Anti-Counterfeit Drug Campaign to Launch Monday
February 23rd, 2012, The Cambodia Daily, Foreign Aid, Industry, pharmaceuticals
The US Embassy and the Ministry of Health will launch a national public awareness campaign Monday highlighting the dangers of counterfeit drugs, embassy and ministry officials said yesterday.
“We want to focus on being able to raise awareness because it is known that using counterfeit drugs leads to exacerbating health problems,” said US Embassy spokesman Sean McIntonsh, adding that the campaign will be funded by the US State Department.
Chou You Sin, secretary of state of the Ministry of Health, said that “30,000 to 40,000 posters that raise awareness on the dangers of counterfeit and substandard medications will be delivered for display to state clinics, private clinics and pharmacies in Cambodia.
Sin Somuny, executive director of MEDICAM, a membership organization of health NGOs, said that while raising awareness is a positive step toward curbing counterfeit medications, more needs to be done. …
Darius Navidzadeh, P.17
http://www.camnet.com.kh/cambodia.daily/ (Note: Infrequently Updated.)
ADB provides Cambodia $69 mil. to improve provincial roads
February 23rd, 2012, The Mainichi Daily News, Business & Commercial Development, Foreign Aid, Technical Assistance
The Asian Development Bank has provided $69 million for Cambodia to make major upgrades of provincial roads in some of the country’s poorest provinces, according to an ADB statement Wednesday.
The Provincial Roads Improvement Project, financed by a $52 million loan from ADB Special Funds and a $17 million loan and grant from the Pilot Program for Climate Resilience, will be used to rehabilitate about 150 kilometers of unpaved provincial roads in Kampong Chhnang, Kampong Speu, Prey Veng and Svay Rieng provinces.
“Efficient transport is critical for economic growth. This initiative will provide safe, cost-effective and year-round access to markets, employment centers and social services for poor and remote communities,” ADB Vice President Stephen P. Groff said during signing for the assistance.
Cambodia’s rural economy is becoming increasingly dependent on the road network, but the steady growth in traffic, overloaded cargo vehicles and poor road maintenance and standards continue to take a severe toll on the 9,500 km of secondary national and provincial roads, only 11 percent of which is paved. …
Mainichi Japan
http://mdn.mainichi.jp/mdnnews/business/news/20120223p2g00m0bu134000c.html
Budget fears as TB figures fall
February 9th, 2012, The Phnom Penh Post, Technical Assistance
Health officials and workers are concerned about budget shortages for the treatment of tuberculosis in the Kingdom as new data reveals that prevalence of the disease has declined 37 percent from 2002, officials said yesterday.
Mao Tan Eang, director of the National Centre for Tuberculosis and Leprosy Control, said at a workshop in the capital that a national survey revealed that tuberculosis prevalence declined from 269 infected people per 100,000 in 2002, to 170 per 100,000 people in 2011.
“[I] want to express my concern for Cambodia in the next period, even though we have seen the prevalence rate decline,” he said…
Mom Kunthear with additional reporting by Mary Kozlovski, p.6
Farming group to quadruple organic production
January 20th, 2012, The Cambodia Daily, Agriculture & Agri-business, Farming, Foreign Aid, News Source, Technical Assistance
The Cambodian Center for Study and Development in Agriculture (Cedac) said yesterday that it plans to raise its annual production of organic vegetables from 120 tons to 600 tons by the end of 2015.
Lim Sokun Darun, program coordinator at Cedac, said that the decision to increase organic produce came after his organization had noticed an uptick in demand, especially in Phnom Penh…
Ouch Sony and Philip Heijmans, p.29
http://www.camnet.com.kh/cambodia.daily/ (Note: Infrequently Updated.)
Deadline extended for comment on new urban planning rules
January 16th, 2012, The Cambodia Daily, Construction, Foreign Aid, Infrastructure, Land Tenure, News Source, Real Estate, Technical Assistance
The Ministry of Land Management is giving a brief reprieve to non-government groups and donor partners who missed yesterday’s deadline to comment on a draft sub-decree aiming to guide and regulate the country’s urban development.
After making the Sub-Decree on Urban Planning and Town Areas public in November, the ministry hosted a workshop in December and eventually extended the comment period to yesterday. But Pen Sophal, director of urban planning at the ministry, said only the Japanese International Cooperation Agency had submitted comments as of yesterday’s deadline…
Phorn Bopha and Zsombor Peter, p.22
http://www.camnet.com.kh/cambodia.daily/ (Note: Infrequently Updated.)
MFI survey claims debtor success
January 16th, 2012, The Phnom Penh Post, Banking & Finance, Borrowing, Debt Servicing, Foreign Aid, News Source, Technical Assistance
A survey by Cambodian microfinancers showed debtors were better off in several respects than those who didn’t borrow from the institutions, MFI officials claimed.
Responding to recent concerns over the role of microfinance institutions in creating poverty and loss of property in the Kingdom, the Cambodia Microfinance Association on Friday released a study that showed positive outcomes for borrowers in changes in income, assets and the empowerment of women, among others.
The Cambodia Institute of Development Study, an independent institution, surveyed 1,876 MFI clients, 568 non-clients, and 533 former clients in 15 provinces during the first nine months of 2011…
May Kunmakara, p.7
www.phnompenhpost.com
No sign World Bank will renew funds
January 13th, 2012, The Cambodia Daily, Banking & Finance, Disputed Land, Economic Land Concessions, Financial Services, Foreign Aid, Land Tenure, News Source, Technical Assistance
Just over a year since the World Bank froze its funds to the government, the bank yesterday reiterated that a decision on whether or not it would start providing loans again remains nowhere in sight.
In August, the World Bank announced that it would not provide Cambodia with new funds until an agreement was reached with the residents of Boeng Kak lake who had been forcibly evicted from their homes by a firm owned by a CPP senator.
The decision followed an independent report produced by the World Bank’s executive branch, which concluded that its own $24.3 million land-titling project had in fact stripped Boeng Kak lake families of their land rights by denying them land titles…
Phorn Bopha and Simon Marks, p.22
http://www.camnet.com.kh/cambodia.daily/ (Note: Infrequently Updated.)