‘Take it or leave it’
May 20th, 2013, The Phnom Penh Post, Business & Commercial Development, Construction, Garment Industry, Industry, Labor, News Source
The uncle of a man who died in Thursday’s ceiling collapse at the Wing Star Shoes factory in Kampong Speu province claimed yesterday that the company had threatened to give the family nothing if they did not agree to an on-the-spot payout.
It came as a government official said the two families who lost loved ones in the collapse were not eligible for state compensation beyond funeral costs.
Rim Rorn, 29, uncle of Rim Roeun, 22, who died in the Kong Pisei district factory, a supplier to Asics, said talks between his family and factory representatives had broken down. …
Roeun and co-worker Kim Dany, who was initially identified by police and family members as Sim Srey Touch, were crushed to death when an overloaded storage level collapsed, sending concrete, steel and stock crashing onto the walkway beneath. …
Korn Vet, 44, the father of Kim Dany, said company representatives had already paid his family $6,500 for a funeral. …
Sok Sam Oeun, executive director of the Cambodia Defenders Project, said it was unlikely, though, that anyone would be charged.
“If we are talking about . . . it being a criminal [case] of voluntary or involuntary manslaughter, someone must [be proven] to have intended to commit a crime,” he said. “They do not have any law relating to neglect or illegal construction . . . I think there is only compensation.” …
Chhay Channyda and Shane Worrell
http://www.phnompenhpost.com/2013052065719/National/take-it-or-leave-it.html
Protestors Block National Road Over Energy Prices
May 20th, 2013, The Cambodia Daily, Business & Commercial Development, Electricity, Energy, Infrastructure, Social Concerns
About 300 people on Saturday blocked off a stretch of National Road 5 in Banteay Meanchey province protesting what they call is an unfair increase in electricity prices. …
Protesters believe that the private electricity supplier, Sok Vitith, altered the Commune’s electricity converter without telling the consumers so that it now produces 160 kilovolt-amps (KVA) instead of the usual 100 KVA.
“I reject the claim I did it for my own benefit. I had to do it because there was not enough electricity to supply the commune, so in April, I changed the electricity cabinet from 100 KVA to 160 KVA,” he [Sok Vitith] said.
Blaming the villager’s soaring usage on the increased use of appliances during recent hot weather, Mr. Vitith said that he had accepted villagers complaints and had yesterday reinstalled the 100 KVA converter. …
Khuon Narim, P.19
www.cambodiadaily.com
Factory Orders Staff Back to Work Amid Safety Concerns
May 20th, 2013, The Cambodia Daily, Business & Commercial Development, Construction, Disasters & Disaster Management, Garment Industry, Industry, Infrastructure, International Relations, Labor, Social Concerns
Employees at a Taiwanese-owned shoe factory in Kompong Speu province where two workers were killed when one of the building’s floors collapsed on Thursday have been ordered back to work today, despite ongoing concerns from labor activists about the building’s safety.
While conceding that some parts of the building—including the section that collapsed—had been built without a permit and were potentially unstable, an official for the provincial department of land management said Sunday that workers could safely return to work as “warning signs” would be erected to avert employees from parts of the factory still deemed unsafe.
“There are two illegal extensions to the building, which have to be removed,” said Mam Narey, bureau chief of the provincial construction department. “We cannot keep them because it is very dangerous for the workers.” …
The mezzanine level of the Wing Star Shoes Co. Ltd. in Kong Pisei district collapsed on Thursday morning, crushing workers who were arriving at the factory. According to the authorities, steel beams holding up the concrete flooring buckled under the weight of boxes of shoes due to shoddy construction done without a permit. …
“Safe and ethical working conditions are of paramount importance to ASICS. We have launched our own investigation into the cause of the incident in full cooperation with the relevant authorities. In addition to our ASICS staff already on site, two representatives plus related people from ASICS corporation headquarters will travel to Phnom Penh and personally evaluate progress of investigations,” said Katsumi Funakoshi, general manager of public relations department for ASICS.
“The decision to re-open or continue to work with this factory would be considered after the result of investigation by ourselves, by the third party and by the government,” he added. …
“Just like in a house, when you build a small roof for the dog, and if that small roof collapses, you will not suggest that the whole house is going to collapse,” [ Garment Manufacturers Association in Cambodia chairman] Mr. [Van] Sou Leng said. …
He also said that the paying of money to families of the dead and injured over the weekend was “insulting.”
“There’s the criminal aspect of an illegal construction that resulted in the death of workers,” Mr. Welsh said. “To think that they are offering money to families over the weekend to prevent the criminal suit is ludicrous and frankly should not stand.”
According to Ms. Hour, the factory representative, nine of the injured workers who went to Calmette Hospital had received $1,700 each. Victims with minor injuries at the district referral hospital received $550 each, she said.
“For each dead victim, the factory donated $6,500 to each family to hold the funeral,” Ms. Hour said. “We wanted to negotiate compensation with them but right now, they don’t want to talk. They need time.” …
Chhorn Chansy and Dene-Hern Chen
http://www.cambodiadaily.com/news/factory-orders-staff-back-to-work-amid-safety-concerns-25192/
ASICS Wants Monitoring Of Cambodian Sub-Contractors After Accident
May 17th, 2013, The Nation, Business & Commercial Development, Construction, Disasters & Disaster Management, Economics, Garment Industry, Industry, Infrastructure, International Relations, Labor, Social Concerns
The Japanese athletics brand ASICS said Friday that it would push its four Cambodian sub-contractors to join a programme that monitors conditions in garment and shoe factories. …
“We will strongly request to our sub-contractors in Cambodia to sign up to this programme,” Katsumi Funakoshi, ASICS spokesman, said by email. …
The Better Factories Cambodia programme, which is voluntary, was set up in 2001 and is run by the International Labour Organization. It monitors factories making clothing and shoes for export to ensure they comply with a range of issues, such as fire safety, working conditions and prompt payment of wages.
Thursday’s accident showed the programme should also monitor factory construction, its chief technical adviser, Jill Tucker, said. …
She called on the hundreds of buyers from other countries that source from Cambodia, including Japan, to take responsibility for the factories where their products were made and join the initiative. …
The Nation Staff
http://www.nationmultimedia.com/breakingnews/ASICS-wants-monitoring-of-Cambodian-sub-contractor-30206398.html
After Factory Collapse, Questions Mount Over ILO Monitoring
May 17th, 2013, The Cambodia Daily, Business & Commercial Development, Construction, Disasters & Disaster Management, Garment Industry, Industry, Infrastructure, International Relations, Labor, Social Concerns
Labor rights activists and a government official accused the International Labor Organization’s Better Factories Cambodia program of ineffectiveness in its monitoring of factory conditions following a deadly ceiling collapse on Thursday at a shoe factory in Kompong Speu province.
Moeun Tola, labor program head of the Community Legal Education Center, a labor rights group, said that Better Factories Cambodia had failed workers by not disclosing the names of factories that flout the country’s laws on factory health and safety. …
In February, a team of Stanford University Law School researchers published a report titled Monitoring in the Dark, charging that the lack of transparency in the Better Factories program had actually set back garment industry standards for Cambodian workers, compared to their counterparts in China, Indonesia and Vietnam.
The researchers also said that the ILO’s “confidential reporting practice” reduces incentives for factory owners and international brands to improve working conditions in Cambodian factories. …
Authorities yesterday said the ceiling collapse in the Wing Star Factory-which produces running shoes for the Japanese spots brand Asics-was due to dangerous building practices. …
Jill Tucker, technical adviser for Better Factories Cambodia, said her program did not monitor the Wing Star factory “in any capacity,” as the monitoring of footwear factories by the ILO program only started last year. …
Regarding the ILO’s decision not to name factories that flout safety regulations, Ms. Tucker defended the way the program operates.
“We are in the process [of] taking programmatic steps toward publicly releasing some non-compliance information and the name of the factory it is connected to,” she said.
The Better Factories program also does not monitor factory construction standards, although Ms. Tucker said that issues such as electrical wiring, overloading on platforms and pathway obstructions are recorded. …
Dene-Hern Chen and Kaing Menghun,
http://www.cambodiadaily.com/news/after-factory-collapse-questions-mount-over-ilo-monitoring-24860/
Japan signs a $90m loan deal to improve highway
May 17th, 2013, The Phnom Penh Post, Construction, Economics, Infrastructure, International Relations, News Source
After reaching agreement late last month, the contract for a $90 million concession loan from Japan to Cambodia was officially signed in Phnom Penh yesterday to improve 83.5 kilometres of National Road 5. …
The construction is scheduled to start in June 2015 and will be completed by May 2018. The loan’s interest rate is 0.01 per cent per annum with a repayment period of 40 years including a 10-year grace period. …
Cambodian factory deaths shine spotlight on conditions
May 16th, 2013, DW, Business & Commercial Development, Construction, Disasters & Disaster Management, Garment Industry, Industry, Infrastructure, International Relations, Labor, Social Concerns
The deaths of at least two Cambodian workers and injuries sustained by 10 colleagues at a shoe factory southwest of Phnom Penh once more shine a light on conditions in the global garment manufacturing industry.
Thursday’s accident at the Wing Star Shoe factory in the Cambodian capital took place when a section of ceiling collapsed onto a group of several dozen workers. The factory, which has 7,000 staff, is contracted to manufacture shoes for Japanese athletics brand ASICS. …
Dave Welsh, the country director at the American Center for International Labor Solidarity, a labour group, visited Wing Star on Thursday and said it looked as though the ceiling at the Taiwanese-owned factory had been “badly overloaded” with materials. …
Garment and shoe manufacturing is now a pillar of Cambodia’s economy: Exports last year, most of which went to the European Union and the United States, brought in 4.6 billion US dollars.
The industry is also the largest formal employer with more than 350,000 workers. …
[Secretary-general of Garment Manufacturers' Association in Cambodia Ken Loo] was quick to separate what happened in Cambodia with the disaster in Bangladesh, and said the ceiling collapse was not indicative of a systemic problem: instead the deaths and injuries at Wing Star, which is a GMAC member, looked more like the consequence of shoddy construction. …
Jill Tucker, the BFC’s chief technical adviser, said although Thursday’s accident was uncommon it had highlighted the need for factories to adhere to building standards too. …
Deutsche Welle Staff
http://www.dw.de/cambodian-factory-deaths-shine-spotlight-on-conditions/a-16819017
Ceiling Collapse at Shoe Factory in Cambodia Kills 2
May 16th, 2013, The New York Times, Construction, Garment Industry, Industry, Infrastructure
A ceiling at a small factory making shoes on the outskirts of the capital of Cambodia collapsed on Thursday morning, killing at least two workers and underlining global worries about factory safety in poor countries.
Ken Loo, the secretary general of the Garment Manufacturers Association in Cambodia, said that steel beams holding up a concrete-floored storage area at mezzanine height between two building had given way. In addition to the two dead, nine workers were injured, three of them severely, by falling pieces of concrete, Mr. Loo said. …
Keith Bradsher
http://www.nytimes.com/2013/05/16/world/asia/roof-collapse-at-shoe-factory-in-cambodia-kills-2.html?ref=todayspaper
Koh Kong Water Shortage Leaves Families Dry
May 16th, 2013, The Cambodia Daily, Climate Change, Disasters & Disaster Management, Environment & Natural Resources, Infrastructure, Lakes/Rivers, Social Concerns
Hundreds of families in Koh Kong province’s Khmara Phoumint City are suffering from a shortage of water, which is provided by a reservoir that dried up during the hot season, local officials said yesterday.
Smach Meanchey and Dang Tong communes typically receive water from the Cham Yeam reservoir in Mondol Seima district, said Pich Si Yun, provincial director of the department of industry mines and energy.
The water is channelled from the reservoir, located about 7 km from the city, to the two communes by LTP Group, a company owned by CCP Senator Ly Yong Phat, he said. …
Dang Tong commune chief Lim Dy said the problem was more serious than the provincial authorities reported. All the families in his commune-more than 2,000-have been affected by the shortage for the past two weeks, he said. …
Chhorn Chansy,
http://www.cambodiadaily.com/news/koh-kong-water-shortage-leaves-families-dry-24517/
Think Tank Says Cambodia Isn’t Managing Its Resources
May 16th, 2013, The Cambodia Daily, Business & Commercial Development, Construction, Economics, Energy, Extractive Industries, Industry, Infrastructure, International Relations, Mining, Natural Gas, Oil, Social Concerns
With the potential for vast state revenues from oil extraction and mining in coming years, Cambodia is currently failing to manage its nascent extractive industries according to a think tank.
New York-based Revenue Watch Institute yesterday launched its 2013 Resource Governance Index, which included Cambodia for the first time. It looked at 58 countries, assessing governments’ reporting practices, control of corruption and rule of law in the oil, gas and mineral sectors. …
“While Cambodia received a fairly high score for its institutional and legal settings, the nation’s very low scores in its reporting practices and enabling environment accounted for its low ranking in resource governance,” a statement from Cambodians for Revenue Resource Transparency, a local Partner of Revenue Watch says. …
Simon Lewis,
http://www.cambodiadaily.com/business/think-tank-says-cambodia-isnt-managing-its-resources-24530/
Egat wants coal plants in Cambodia, Myanmar, Krabi
May 13th, 2013, The Nation, Business & Commercial Development, Construction, Electricity, Energy, Environment & Natural Resources, Foreign Investment, Hydroelectricity, Industry, Infrastructure, International Relations, Natural Gas
Energy Minister Pongsak Ruktapongpisal has given the Electricity Generating Authority of Thailand (Egat) the green light to proceed with a plan to build coal-powered plants in Myanmar and Cambodia – providing Thailand with 10,000 megawatts of electricity. Egat has also been instructed to negotiate the purchase of nuclear power from China in order to bring down the cost of electricity. …
In addition, the Energy Ministry has also been discussing the possibility of investing in a coal-powered plant in Cambodia to produce 4,000MW of electricity. Thailand hopes that buying power from Cambodia will keep the domestic cost of electricity from exceeding Bt6 per unit. Egat also plans to go ahead with its coal-powered project in Krabi once it has reached an “understanding” with residents and businesses protesting against the deal. …
In addition to investing in coal-operated power plants from neighbouring countries, Egat is also looking at investing in hydro-electric power projects within the region. …
Watcharapong Thongrung
http://www.nationmultimedia.com/business/Egat-wants-coal-plants-in-Cambodia-Myanmar-Krabi-30205968.html
Work underway on ‘catastrophic’ Cambodian dam
May 10th, 2013, DW, Agriculture & Agri-business, Business & Commercial Development, Construction, Electricity, Energy, Environment & Natural Resources, Environmental change, Farming, Fishing, Hydroelectricity, Industry, Infrastructure, International Relations, Lakes/Rivers, Social Concerns, Water
Srekor village has stood on the banks of the Se San River in northeastern Cambodia for generations. In a few years it will be gone, submerged along with more than 300 square kilometres of surrounding farmland and forest. …
For 37-year-old rice farmer Pa Tou, the future looks bleak. The relocation site set aside for them is wholly unsuitable, he complains. There is no irrigation, it is miles from the river and the ground is either rocky or covered with trees. And at this stage it has no schools, no health clinics, no pagodas and no roads. …
International Rivers, a campaigning NGO, predicts the Lower Se San 2 Dam “will have a costly, catastrophic impact on the Mekong River’s fisheries and biodiversity”. …
But media reports consistently show the government favors projects like hydropower dams and coal-fired power stations. More are likely to go ahead. On May 9, the Cambodia Daily newspaper said two more planned dams on the 3S network had been deemed economically feasible, moving them a step closer to approval. One would be a 370MW dam on the Se San River; the other a 100MW dam on the Sre Pok River. The first would flood 40 villages alone.
Meanwhile the Cambodian government has plans to build a hydropower dam on its stretch of the Se Kong River, which rises in Laos. Baran says that would block the region’s third fish highway, leaving the Mekong mainstream as the sole route for migratory species, further harming fish stocks. The rush to hydropower risks inflicting profound and irreversible damage to many more people than the residents of Srekor village.
Deutsche Welle Staff
http://www.dw.de/work-underway-on-catastrophic-cambodian-dam/a-16803423
As Phnom Penh Grows, So Does Its Sewage Problem
May 10th, 2013, The Cambodia Daily, Business & Commercial Development, Construction, Environment & Natural Resources, Industry, Infrastructure, Social Concerns
Since 1998, Phnom Penh’s population has doubled to more than 2 million. High-rise buildings have popped up in the city’s center and housing developments have been hastily erected.
Yet the city’s antiquated, decades-old drainage system has undergone little improvement in that time and experts say the rapid urban growth currently underway could outpace the drainage system’s ability to channel rain and the increasing amount of water out of Phnom Penh.
Although the Japan International Cooperation Agency (JICA) has been working with City Hall since 1999 to improve the drainage system, there is still no plan to install a wastewater treatment plant in order to prevent the vast amounts of raw sewage being pumped into the city’s lakes and waterways.
Adding further complications, City Hall has no complete underground plans of the drainage network and possesses limited means to ensure that piping is properly maintained. Authorities have no data on how much sewage the city currently produces.
…
JICA is currently constructing 20 km of additional piping in central Phnom Penh. Once a toilet is flushed, the wastewater travels down the pipes, through open canals or the underground drainage system and eventually arrives in Boeng Trabek, where morning glory and lotus plants partially purify the sewage through natural process.
Plants in the reservoir absorb the discarded water’s bacterial nutrients and break down the waste before it is funneled, black and fetid, through the Boeng Trabek pumping station. The Contents are then emptied into Boeng Tampoun and finally ejected into the Tonle Bassac and Tonle Sap rivers. …
“Phnom Penh City has been developing very fast and many commercial and industrial activities have been located in the downtown and peri-urban areas and the wastewater from these activates is generally high contamination,” said Seng Solsdy, a program officer from JICA, in an email. “With this situation, the construction of a waste-water treatment plant is very important for treating the wastewater from the city before discharging it to the river and to avoid impacts on the environment and people’s health.” …
Last year, alone the total value of approved construction projects nationwide increased by 72 percent to 2.11 billion, compared to 1.23 billion in 2011. …
Noun Rithy, CEO of Bonna Realty Group, agreed that many private developments often leave the issue of drainage as an afterthought. This is coupled with the fact that municipal authorities do very few of their own checks on the drainage provisions of new projects. …
Dene-Hern Chen and Kaing Menghun, P.1
www.cambodiadaily.com
Cambodian PM to visit Macau in September
May 9th, 2013, Macau Daily Times, Business & Commercial Development, Economics, Foreign Investment, Industry, Infrastructure, International Relations, Tourism, Trade
Cambodian Prime Minister Hun Sen will visit Macau in September to participate in the Second Global Tourism Economy Forum. Prime Minister Hun Sen called for more investment in the country by Chinese and Macau entrepreneurs, and direct flights between Cambodia and Macau.
According to Xinhua, the Prime Minister met with Edmund Ho Monday in the Cambodian capital Phnom Penh, to discuss further expansion of bilateral ties in economics, trade and tourism. Ho is the former Macau Chief Executive and also a vice-chairman of the National Committee of the Chinese People’s Political Consultative Conference,
Speaking at the meeting at the Peace Palace, Edmund Ho, who is also chairman of the Global Tourism Economy Forum, said his visit to Cambodia was to further promote China-Cambodia relations and cooperation, particularly between Cambodia and Macau …
[Deputy Prime Minister and Minister of Finance] Keat Chhon noted that from 1992 to present, China has provided USD2.7 billion in soft loans and grants to Cambodia for rehabilitating and building infrastructure. Keat Chhon and Edmund Ho also discussed ways to promote tourism.
Macau Daily Times Staff
http://www.macaudailytimes.com.mo/macau/43622-cambodian-pm-to-visit-macau-in-september.html
Cambodia’s Economic Opportunity
May 9th, 2013, The Diplomat, Agriculture & Agri-business, Business & Commercial Development, Economics, Electricity, Energy, Exports, Farming, Industry, Infrastructure, International Relations, Rice, Trade
While significant obstacles remain, the success of the rice sector is a potentially crucial driver in Cambodia’s prosperous and equitable development. …
Cambodia announced two major bilateral trade agreements recently, with the Philippines and Thailand, that are expected to further expand the country’s rice export sector. …
Agriculture, led by rice farming, contributes to roughly a third of the country’s GDP and has immense potential for strengthening Cambodia’s economic growth, accelerating poverty reduction, and improving the living standard of its citizens. As part of this agenda, in 2010, the RGC adopted a new Policy Paper on Paddy Production and Rice Export, better known as the Rice Policy, to promote diversification of Cambodia’s economic sectors by catalyzing growth in paddy rice production and milled rice export to match the growth seen in the garment and service sectors. …
If Cambodia’s rice export sector were to reach its full potential, it could produce 3 million tons of milled rice, with the total export value amounting to $2.1 billion (approximately 20% of the GDP) and an estimated additional $600 million (approximately 5% of the GDP) to the national economy. It would also boost employment and income for agricultural farmers who make up more than 70 percent of the population living in rural areas. …
Poor transport and infrastructure such as roads, railways, warehouses, and handling equipment also increase costs for farmers. …
The lack of handling equipment in one of the main ports, the Sihanoukville Port, is also a major constraint for the export of large quantities of milled rice. …
As a relatively new player in the milled rice market, Cambodia faces a steep learning curve. However, with a surplus of 3.5 million tons of paddy rice (equivalent to 2 million tons of milled rice), Cambodia has the potential to soon be among the top five milled rice exporters in the world.
Khut Inserey
http://thediplomat.com/2013/05/09/cambodias-economic-opportunity/
Workers Get Benefits, Not Jobs
May 9th, 2013, The Phnom Penh Post, Construction, Economics, Labor
India’s ambassador to Cambodia, Dinesh Patnaik, said yesterday that his government will pay outstanding benefits to about 30 restoration workers who lost their jobs at Siem Reap province’s Ta Prohm temple in February – but will not reinstate them.
The entire restoration team – more than 100 workers – protested in February, claiming that workers, some of them union representatives, had been unfairly dismissed and replaced with about 25 other workers. …
Dave Welsh, American Center for International Labor Solidarity country manager, said the ambassador had told him during a recent meeting that Indian authorities would meet their financial obligations. …
Welsh said ASI had previously believed it had not entered into an employer/employee relationship and was not subject to the Kingdom’s Labor Law. …
Shane Worrell
http://www.phnompenhpost.com/2013050965505/National/workers-get-benefits-not-jobs.html
Work Begins on Controversial Cambodian Dam
May 7th, 2013, VOA, Business & Commercial Development, Construction, Electricity, Energy, Environment & Natural Resources, Hydroelectricity, Industry, Infrastructure, International Relations, Lakes/Rivers, Land Tenure, Water
As work begins on Cambodia’s biggest dam, those advocating against its construction have warned that the region’s rush for hydropower will have a disastrous effect on millions of people who rely on the Mekong River to survive.
Last month, workers began preparing an area in northeastern Cambodia for a huge hydropower project, the 400-megawatt Lower Se San 2 Dam. …
Scientists estimated the Lower Se San 2 Dam could reduce the total fish yield of the Mekong Basin by 9.3 percent.
“So it’s 9.3 percent of 2.1 million tons – which is a gigantic amount,” said Baran. “In other words, this expected loss represents around 200,000 tons per year, which is much more than the whole marine sector of Australia. And, nine times more than the annual inland fish catch in Germany or the U.S.” …
Meanwhile, work on the Lower Se San 2 Dam has started and thousands of people who live in the areas that will be submerged by the dam’s vast 300-square-kilometer reservoir have been told they will have to move. …
One of them is 37-year-old Pa Tou. He said none of the 400 ethnic minority families in Srekor village on the banks of the Se San River wants to leave. …
Pa Tou, who has three daughters, said that will not be possible at the relocation site, which is miles from the river. He said the land there is poor for farming – most of it is rocky or covered with trees – and there are no health clinics and no schools. He fears they will all be left much worse off.
Robert Carmichael
http://www.voanews.com/content/work-begins-on-controversial-hydropower-dam/1656035.html
Chevrolet autos aim to tap into demand for new cars in Cambodia
May 7th, 2013, Global Times, Business & Commercial Development, Foreign Investment, Industry, Infrastructure, International Relations, Production, Trade
Chevrolet, one of America’s iconic brand autos, officially launched its first dealership here on Monday, aiming at tapping into the country’s growing market for new vehicles.
Martin Apfel, president of the US’ General Motors to Southeast Asia Operations, said at the launching ceremony at the cars’ showroom in Phnom Penh, that the firm’s expansion to Cambodia was thanks to the country’s rapid economic growth in last decade and high demand in brand new cars.
The country’s new car demands are around 2,000 units a year, while the annual demand of used cars are up to 20,000 units.
“Cambodian auto industry is expected to grow by 15 percent this year,” he predicted.
Martin said that in Cambodia, the General Motors gave authority to Cambodia’s United Auto Trading to be an exclusive distributor of Chevrolet cars. …
Global Times Staff
http://www.globaltimes.cn/content/779626.shtml#.UYheUaKj2xA
China’s aid vital to Cambodia: finance minister
May 7th, 2013, Global Times, Economics, Foreign Aid, Infrastructure, International Relations
China’s assistance to Cambodia is very important for the country’s economic and social development, Cambodian Deputy Prime Minister and Finance Minister Keat Chhon said Tuesday. …
He said from 1992 to present, China has provided 2.7 billion U. S. dollars in soft loans and grants to Cambodia for rehabilitating and building infrastructures. …
Xinhua News Staff
http://www.globaltimes.cn/content/779888.shtml#.UYm2L6Kj2xA
S. Korea’s Booyoung to build new town in Cambodia
May 7th, 2013, Yonhap News Agency Staff, Business & Commercial Development, Construction, Foreign Investment, Infrastructure, International Relations, Land Tenure, Real Estate
Booyoung Co., a mid-sized South Korean conglomerate, said Tuesday that it broke ground for one of the largest housing projects in Cambodia, a project Cambodia hopes to spur foreign investments.
Booyoung said it will build 40 apartments and seven residential and commercial complexes on 2.7 square kilometers of land in downtown Phnom Penh.
The planned buildings could accommodate 17,760 households in a landmark project, called “Booyoung town,” the company said, without giving any further details on financial costs and a completion date of the project. …
In terms of the cumulative foreign direct investments approved in the period of around 18 years ending at September 2011, the largest amount of US$8.9 billion came from China. The second biggest foreign direct investment provider is South Korea with $4 billion, according to data posted on the Web site of the Council for the Development of Cambodia.
Yonhap News Agency Staff
http://english.yonhapnews.co.kr/business/2013/05/07/45/0501000000AEN20130507006500320F.HTML