Agriculture Contributes To Helping Cambodia’s Economic Growth: PM Hun Sen
May 4th, 2013, The Southeast Asia Weekly, Agriculture & Agri-business, Agro-Industry, Economics, Exports, Farming, Infrastructure, Labor, News Source, Rice, Trade
“The agriculture sector today is still playing significant role in promoting local production growth, job creation, and contributing to the poverty reduction of the people. At the same time, the agriculture sector will continue the basic role for economic growth and socio-economic development in Cambodia in the coming decades although Cambodia has diversified her economy, including industrialization”, Samdech Hun Sen, Prime Minister of Cambodia said last week. …
“The growth in agricultural sector is not only improving our economy but also transforming the red dry land to become the green area in all seasons, as well as allowing our youths in rural area to be employed, reducing migration, and improving their livelihood.”
According to the report made by H.E Chan Sarun, Minister of Agriculture, Forestry and Fisheries, the agriculture sector has grown in average about 4.3% in 2012, in which the rice production was about 3 million hectares, and the land of 2.98 million hectares could be cultivated, and the average yield per year in both dry and rainy seasons is 3.117 tons per hectares. …
“We have also expected that this poverty rate will further decline to under 19% in 2013. In the future, we will try our best to drag down the poverty rate until the elimination of the poverty through the continued development of agriculture and economic diversification.” …
To impose no land tax is like helping them right in the field. For example, they need to spend one or two hundred thousand Riel per hectare as tax. “When we do not charge tax from them, they could use the money for something else, like purchasing a bicycle for their kids or other agricultural utensils.” …
The South East Asia Weekly Staff
http://thesoutheastasiaweekly.com/?p=6134
Cambodian Garment Exports likely to Grow in 2013: GMAC
April 21st, 2013, The Southeast Asia Weekly, Business & Commercial Development, Domestic Investment, Exports, Garment Industry, Industry, Trade
Cambodian garment exports are expected to grow in 2013 with the increasing foreign investments along with focus on new market including Japan and China, according to the Garment Manufactures Association of Cambodia (GMAC). In 2012, apparel exports of Cambodia grew nine percent to US$ 4.61 billion as compared to exports worth US$ 4.24 billion in 2011. …
Singapore, the US, Malaysia, Japan, Thailand, Australia, England and India were some other countries that invested in Cambodian apparel sector in 2012. However, ongoing economic crisis in the traditional export markets such as the US and the EU coupled with numerous strikes are slowing export growth of Cambodia. …
The Southeast Asia Weekly Staff, P.2
www.thesoutheastasiaweekly.com
French government injects $74 million loan to support social and economic development projects in Cambodia
March 7th, 2013, The Southeast Asia Weekly, Economics, Foreign Aid, News Source, Technical Assistance
French government through French development agency will give $74million loan to Cambodia to support social and economic development in the kingdom, according to a senior official said today.
Director General of French Agency for Development (Agence Française de Développement -AFD) Mr Dov Zera will travel to Cambodia from 10 to 12 March 2013, according to media statement from French embassy here said. …
The Southeast Asia Weekly
http://thesoutheastasiaweekly.com/?p=5679
Cambodia, UK trade volume reaches $750 million in 2012
March 2nd, 2013, The Southeast Asia Weekly, Business & Commercial Development, Foreign Investment, International Relations, News Source
The United Kingdom embassy in Phnom Penh said today that bilateral trade volume between the two kingdom had reached to $750 million, an increase of 27 per cent if compared to 2011.
British Ambassador Mark Gooding welcomed the increasing trade between the UK and Cambodia. “bilateral trade in goods rose by 27% in 2012 to US $ 750 million, he adds. …
The Southeast Asia Weekly
http://thesoutheastasiaweekly.com/?p=5656
Cambodia boosts attraction of foreign visitors in 2013
February 6th, 2013, The Southeast Asia Weekly, Industry, News Source, Tourism
Cambodian Tourism Minister H.E. Dr. Thong Khon said: Cambodia, Laos and Myanmar had gained high growth of tourist arrival in 2012 for Asean region.
“Cambodia is continuing its work including promotion to the outside world to attract tourists to see the country.” he said this week. “We need to focus on infra-asia region especially like Chinese tourists, “He adds. Cambodia needs to attract 500,000 Chinese tourists in 2015. Cambodia expects to gain 5 million in 2015. …
The Southeast Asia Weekly
http://thesoutheastasiaweekly.com/?p=5403
Siem Reap International Airport records 340,000 passengers in January, South Korea stands first row
February 4th, 2013, The Southeast Asia Weekly, Industry, News Source, Tourism
PHNOM PENH: the Siem reap international airport announced today that it gained 340,000 passengers for January and the South Korean passengers stand first class. “This is first time in its history, [sic] the statement said.
It adds: barely a month after crossing the 2-millionth passenger milestone, Siem Reap International Airport scored another first. The airport handled more than 340,000 passengers in the month of January, breaking the 300,000 mark for the first time in its history. …
The South East Asia Weekly
http://thesoutheastasiaweekly.com/?p=5355
Cambodia gains 3.5 million tourist arrivals in 2012
January 11th, 2013, The Southeast Asia Weekly, Industry, News Source, Tourism
Cambodia in 2012 received 3.5 million foreign visitors, an increase of 25 per cent if comparing to 2011 and earned 2 billion US dollars for national income this year, tourism minister said on January 10. …
He also said: for 2011, there were 8 million of 15 million Khmer traveling to different resorts in the kingdom and this shows us that their living conditions are improved. …
The South East Asia Weekly
http://thesoutheastasiaweekly.com/?p=5285
Ha Tien Vegas Casino closes due to bankruptcy
January 2nd, 2013, The Southeast Asia Weekly, Business & Commercial Development, Economics, Foreign Investment, Labor, News Source
Ha Tieng casino in Kampot province, Bordering with Vietnam was closed due to bankruptcy after there were no gamblers. According to the source, there were about 2 000 staffs laid off. Gamblers are Vietnamese but when Vietnamese government banned its people from going to gamble at the casino. casino reduced its number subsequently and later closed this week, source adds.
Mr. Koy South, deputy police chief of Prek Chak Border gate near the casino said: “that casino was closed and there was no gambler.” …
The South East Asia Weekly
http://thesoutheastasiaweekly.com/?p=5267
Cambodia opens first largest sugar cane factory with $150 million investment from local company
December 27th, 2012, The Southeast Asia Weekly, Agriculture & Agri-business, Agro-Industry, Business & Commercial Development, Domestic Investment, Economics, Labor, News Source
Cambodia today opened first largest sugar factory in Kampong Speu province, western part of city of Phnom Penh with $ 150 million investment from a local company which employs 2 554 workers.
Ly Yong Phat, owner of Sugar factory ( Phnom Penh sugar company) said: his company plans to expand investment to 250 million US dollars in near the future and currently we invested 150 million US dollars on sugar factory and land of growing sugar plants. …
The South East Asia Weekly
http://thesoutheastasiaweekly.com/?p=5249
China plans to invest $5 billion to develop sea port, eco-tourism, and airport in Cambodia
December 11th, 2012, The Southeast Asia Weekly, Business & Commercial Development, Construction, Economics, Foreign Investment, Infrastructure, News Source
PHNOM PENH: Chinese Union Group and the government of Cambodia plan to ink MoU of construction of mega-development projects in Koh Kong province, southern part of Cambodia.
Environment minister Mok Mareth made the announcement upon arrival from China, where he attended APEC meeting in Tainjin on sustainable and green development and met with his Chinese minister. …
The South East Asia Weekly
http://thesoutheastasiaweekly.com/?p=5119
Belarus plans to open tractor factory in Cambodia
October 3rd, 2012, The Southeast Asia Weekly, Agro-Industry, Business & Commercial Development, Foreign Investment, International Relations, Trade
visiting Prima Vitlay, vice minister of industry of Belarus today met with deputy prime minister and finance minister of Cambodia, Keat Chhon, here to expand cooperation and trade ties between two countries.
Prima told finance minister: “his country schedules to open a tractor factory in Cambodia to serve and contribute to boosting the agricultural fields,” And Prima adds: this is not only for benefit of Cambodia but also it could export to other countries.” …
The South East Asia Weekly Staff
http://thesoutheastasiaweekly.com/?p=4835
Malaysian company buys Cambodian advertisement agency
September 23rd, 2012, The Southeast Asia Weekly, Business & Commercial Development, International Relations
Go communication Group of Malaysia bought all shares of Active Event Management, advisement agency in Cambodia but it keeps all staff and management team for the agency.
The announcement was made in the meeting under witness of information minister H.E Khieu Kanharith, he is also spokesman of Cambodian government. Mr Bob Chue, CEO of Go communication Group said: “we have strategy to strengthen our firm in Mekong delta and continue to expand it further for business purpose,”
The South East Asia Weekly Staff
http://thesoutheastasiaweekly.com/?p=4534
U.S. Trade Representative Ron Kirk to Visit Cambodia, Meet with Association of Southeast Asian Nations (ASEAN) Ministers
August 26th, 2012, The Southeast Asia Weekly, Business & Commercial Development, Economics, Exports, Foreign Investment, Imports, International Relations, News Source, Technical Assistance, Trade
United States Trade Representative Ron Kirk will be in Siem Reap, Cambodia, August 30-31, to participate in the Association of Southeast Asian Nations (ASEAN) Economic Ministers’ meeting and the ASEAN-U.S. Business Summit.
The ten ASEAN countries are key economic and strategic partners for the United States, and Ambassador Kirk’s visit to Cambodia will demonstrate the United States support for ASEAN integration and desire to deepen economic engagement with the region, as well as highlight broader U.S. goals for economic relations in the Asia Pacific. …
On the margins of the Ministers’ meeting, Ambassador Kirk will also meet separately with Cambodian leaders and other participating ministers to discuss bilateral trade issues and objectives for regional partnerships, including the Trans-Pacific Partnership (TPP) and the Asia-Pacific Economic Cooperation (APEC) forum.
SEAW
Cambodia Hosts 44th ASEAN Economic Minister Meeting
August 26th, 2012, The Southeast Asia Weekly, Business & Commercial Development, Economics, International Relations, News Source, Technical Assistance
The 44th economic ministers (AEM) meeting and related meetings will be held from 25 August-1 September, 2012 in Siem Reap province.
The ministers will focus on the economic community in 2015 and boost economic council to move forward because this community is going smoother than other two pillars; political and security community and social-cultural community. Cambodia also 4th CLMV economic ministers meeting in Siem Reap to boost regional integration while four countries in this Mekong sub-region need to further investment from outside world. …
“There are continuing challenges and downside risks including the sovereign debt crisis and fiscal problems in some developed markets, rising food and commodity prices, continued financial market stresses. The Ministers agreed that ASEAN should remain vigilant in the face of these risks and stressed that the region should continue to harness its competitive strength through deeper integration and implement its economic integration initiatives in a timely manner.” It stresses.
SEAW
Vietnamese Goods Fair Opens In Phnom Penh
August 26th, 2012, The Southeast Asia Weekly, Business & Commercial Development, Economics, Foreign Investment, Imports, International Relations, News Source, Production, Trade
The 10th High Quality Vietnamese Products and Exports trade fair opened yesterday in the Cambodian capital city of Phnom Penh.
It has attracted around 150 firms who have set up 250 booths to display more than 2,000 products, including electronics, consumer goods, stationary, books, construction materials, food, pharmaceuticals, leathers, handicrafts, and cosmetics.
Organized by the Business Association of High-Quality Vietnamese Goods, the fair offers Cambodians a good opportunity to buy high-quality Vietnamese goods at reasonable prices. Vietnamese businesses also hope to benefit from the feedback they receive from Cambodian buyers, Vu Kim Hanh, the association chairwoman, said. The fair closes on August 27.
VNS
Cambodian Transparency Organization Applauds US Rule On Oil, Gas and Mining Payments Disclosure
August 26th, 2012, The Southeast Asia Weekly, Banking & Finance, Business & Commercial Development, Economic Land Concessions, Energy, Environment & Natural Resources, Extractive Industries, Foreign Investment, International Relations, Land Tenure, Mining, Natural Gas, News Source, Oil, Technical Assistance
Cambodians for Resource Revenue Transparency (CRRT) wrote a letter to Ms. Elizabeth M. Murphy, Secretary of U.S. Securities and Exchange Commission on February 7, 2012 to back up PWYP’s recommendations and to encourage the Commission to define the “Project” in relation to each lease, license and/or other concession level arrangement entered into by a resource extraction issuer. CRRT also requested that rule should not allow companies to receive exemptions from compliance with the law as a result of host country secrecy laws, as this would simply encourage governments to create new laws restricting transparency.
Today, a Cambodian transparency advocacy group welcomed a rule approved in the United States on Wednesday August 22nd by US Securities and Exchange Commission (SEC) which will require oil, gas and mining companies to report payments made to the US government or foreign governments. …
The SEC ruling specifically references reporting rules contained in the Extractive Industries Transparency Initiative (EITI), the voluntary global extractive industry organization formed in 2002. (…) Cambodia has thus far declined to join the EITI, which helps improve a country’s investment potential by establishing clear and consistent reporting requirements. …
SEAW
Cambodia Proposes New Initiatives For Green Tourism
August 26th, 2012, The Southeast Asia Weekly, Business & Commercial Development, Economics, Environment & Natural Resources, Environmental change, Industry, International Relations, Labor, News Source, Tourism, Trade
In line with Royal Government policy determining tourism as the Green Gold, 2011 is the year that we commenced mainstreaming the green tourism concept to all stakeholders. Cambodia started some new initiative to inspire green tourism in the country.
“The Clean and Green Concept is basically necessaary while the world is going toward green age. The Green and Clean model is seen as a wise ad right choice for the present and the future as a role of its development will ensure economic, social and environmental sustainability and balance,” tourism Minister Hong Khnong said at the workshop last week. …
Particularly, ASEAN is projected to receive approximately 107 million international tourists in 2015. …
Minister said: “Cambodia has been significantly seen in a fast-growing development in all sectors, in which tourism which is the main priority sector in building socio-economic development as it generates more incomes into national economy and creates more job opportunities and contributes to poverty alleviation in an effective manner.”
“The development of Cambodia tourism truly reveals that peace, safety and political stability as the determination and the basis for sustainable tourism growth.” …
Long Heng
UN: Investing in Women Entrepreneurs & Business Leaders is Smart Economics
August 26th, 2012, The Southeast Asia Weekly, Business & Commercial Development, Economics, International Relations, Labor, News Source, Production, Social Concerns
(UN ESCAP Strategic Communications and Advocacy Section)- “Investing in women’s entrepreneurial leadership, and the empowerment of women, is smart economics- which is why women’s empowerment is one of the most important development priorities for the countries of Asia and the Pacifc,” said Dr. Noeleen Heyzer, United Nations Under-Secretary-General and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP), addressing senior Cambodian policy-makers and women business leaders here today, as part of an official visit to the country.
The Under-Secretary-General met with the Royal Cambodian Government’s Minister of Women’s Affairs, Dr. Ing Kantha Phavi, and later joined the Minister on a visit to a local women-owned and operated silk business, speaking with women workers and entrepreneurial leaders from the newly-formed Cambodian Women’s Entrepreneurs Association (CWEA)…
Although more than 80% of women and girls over the age of 15 participate in the Cambodian workforce, 82% of these jobs are in the informal sector, and women earn about 70% of men’s wages. It has been estimated by ESCAP that limits on women’s economic participation costs the region, as a whole, nearly US$90 billion each year in lost productivity. …
SEAW
Cambodia And Vietnam Trade Continues To Grow In 2012
August 26th, 2012, The Southeast Asia Weekly, Business & Commercial Development, Economics, Exports, Imports, International Relations, News Source, Production, Trade
Trade between Vietnam and Cambodia exceeded US$1.9 billion dollars in the first seven months of this year, the High Quality Vietnamese Goods Business Association said yesterday.
Speaking at a news conference, an association official said Vietnamese exports to Cambodia came to $1.6 billion in the seven months to July. Imports from Cambodia to Vietnam totaled $329 million in the same period. In 2011, Vietnamese exports to Cambodia amounted to $2.8 billion while imports from Cambodia were more than $400 million, the official said. …
After 10 years, Cambodia consumers have witnessed changes and significant development of Vietnamese products. Going from several companies with limited variety of goods, nowadays, there are more than 200 Vietnamese companies doing business in Cambodia with thousands of products. …
SEAW
UN Secretary General will visit Cambodia in November
August 26th, 2012, The Southeast Asia Weekly, Economics, International Relations, News Source, Technical Assistance
UN Secretary-General Ban Ki-moon will visit Cambodia in November to attend the 21st ASEAN Summit and East Asia Summit, a senior UN official said here Thursday.
Noeleen Heyzer, UN Under Secretary-General and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP), said that the UN-ESCAP will not only continue to help ASEAN in intra-ASEAN Connectivity, but also help connect the bloc with the whole Asia-Pacific. …
Ouch Borith, secretary of state at Cambodia’s foreign ministry, said that the upcoming visit of Ban will help further enhance relationship and cooperation between the UN and ASEAN. …
SEAW