Cambodia-India Trade Values $85 Million In 2011
May 28th, 2012, The Southeast Asia Weekly, Business & Commercial Development, Exports, Imports, International Relations, Trade
Cambodia-India trade valued $85 million last year while Cambodian exports amounted $12 million and imports from India were worth $73 million, an official said Friday. …
The Southeast Asia Weekly
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Cambodia Officially Starts Trading Life Insurance
May 27th, 2012, The Southeast Asia Weekly, Banking & Finance, Business & Commercial Development, Economics, Financial Services, Industry, Social Concerns, Trade
Cambodia on May 21 officially started to trade life insurance for first time in history with hope of supplementing social security and growth of insurance development in the kingdom.
At the inauguration ceremony at 21st floor of Canadia Tower in Phnom Penh, His Excellency, Aun Porn Moniroth, secretary of state of finance ministry said: “it marks historical achievement for financial sector in the country,” and “Cambodia’s life insurance industry will help strengthen social safety net,” he added. Ministry fully supports for this investment, he said. …
Long Heng, P. 1
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Athletes Keang Samom represents Cambodia at London Olympic
May 27th, 2012, The Southeast Asia Weekly
Keang Samorn will represent Cambodia in the Olympic Games marathon in London in July, Pen Vuthy, secretary general of The Cambodian Athletic Confederation said. …
The Southeast Asia Weekly
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(Note: Infrequently Updated.)
City-District to Manage Self Budget in 2012
May 7th, 2012, The Southeast Asia Weekly
The government, this year, intends to transfer it’s budget to individual town district authorities, and to vouchsafe into their hands from 2013 onward, aiming to push forward decentralization, said an interior ministry official.
The budget, of on average US$ 35,000 per year, is in process of being transferred to the individual 193 town-district authorities across the nation, which is kept under the city-province level, said H.E. Leng Vy, Director General of General Directorate of Grassroots Administration, Ministry of Interior on May 2nd. …
Tim Vutha
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Bokor Resort Helps Attract More Tourists In Kampot
May 6th, 2012, The Southeast Asia Weekly, Economics, Industry, Tourism
Bokor Mountain: The Bokor resort located on the top of Bokor mount in Kampot, on May 3rd, was inaugurated as the government believes it capable of propelling the local economy into greater growth.
The project includes three asphalt roads of a total 49 krn along with the five-star Thansur (heaven) Bokor Highland Resort, which contain 418 rooms, equipped with restaurants, children’s playgrounds, spa and massage, an entertainment club, and are being extended for another 600 rooms due to rising demand.
Traveling on the roads is free of charge, and doesn’t serve only the company to service its tourists up and down the mountain, but also benefits the locals who can commute on the roads to improve their daily lives. …
Tim Vutha
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(Note: Infrequently Updated.)
Tourism Industry’s Growth Offers Job Creation For Local Labor Force
May 4th, 2012, The Southeast Asia Weekly, Economics, Industry, Labor, Tourism
PHNOM PENH: Cambodia is trying to boost the tourism industry after its contribution to economic growth and offering job creation as ASEAN economic integration 2015 is moving and the free flow of workforce mobilization has been needed to help ensure steady growth. Cambodia’s tourism sector, in 2011, offered 350,000 direct jobs and millions of indirect jobs as it registered 2.88 million international tourists at a growth rate of 14 percent compared to 2010 with the domestic tourist growth of approximately 7 million, an increase of 3 per cent.
“We need to boost green development and human resource development, intellectual resources, which is the main component for supporting the tourism development and industry,” said Tourism Minister H.E. Thong Khon at a seminar on Tourism Development and ASEAN Tourism Skills for Tourism Trainers and Lecturers on April 24th here. …
By Tim Vutha and additional reporting from Long Heng, P. 1
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Partners Help Urban Food Security Project In Phnom Penh
May 3rd, 2012, The Southeast Asia Weekly, Environment & Natural Resources, Social Concerns
PHNOM PENH: Fisheries Administration and FAO launch the Inception Workshop on Micro and Small Enterprise Development to Achieve Food Security, Food Safety and Self Reliance for Urban Poor in Phnom Penh, citing that it will help local community.
At the workshop, H.E. Kao Sochivy, deputy director general of fisheries department said: “urban food security project will contribute to inspiring the food and security for poor community in Khim Roussey Keo and Mean Chey in Phnom Penh.” “It will help ensure the natural resource conservation and sustainable development and improve living condition for the local community.” she added. …
The Southeast Asia Weekly, P. 6
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Japan Assists Cambodia To Formulate Industry Policy To Woo Investments
May 2nd, 2012, The Southeast Asia Weekly, Foreign Investment, Industry
Japan, the most experienced country in the industrial sector, has cooperated with Cambodia, aiming at enhancing Cambodia’s industrial policy better to attract more investments, especially the Japanese investors who have kept an eye out on Cambodia over the last several years.
The workshop under the theme: Towards the Cambodia’s Industrial Policy, was conducted On April 25th, by The Japan International Cooperation Agency (JICA) with the Supreme National Economic Council (SNEC) to mainly focus on industrial policy in a globalization and national plan for developing the industrial sector. …
By Leang Phannara
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Interior Ministry Tightens Security After Telecom Crimes
May 1st, 2012, The Southeast Asia Weekly, Industry, Social Concerns, Telecommunications
The Ministry of Interior, jointly with the Ministry of Telecommunications has issued an inter-ministerial directive that requires telecom service providers to strictly check the identity information of their subscribers and users to take part in eliminating telecommunication crimes after the criminals used this high technology to kidnap and committed the serious crimes and difficulties of seeking identities.
In the meeting conducted on April 24, the joint Ministries announced to all mobile and internet operators to highly and accurately implement the telecom services with subscribers, as currently, culprits and perpetrators use telecom services such as phone, mobile phone and internet as a way of perpetrating criminal act, cross border terrorism, kidnapping, just to name a few, which caused social instability in Cambodia. …
By Leang Phannara (Additional reporting from Long Heng), P. 8
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Chevron Not ready to Pump Oil in December 2012
April 30th, 2012, The Southeast Asia Weekly, Energy, Foreign Investment, Oil
The chevron oil company announced it is not ready to pump offshore oil in Block A in Cambodia. Mr. Steve Glick, Chevron President said: “the company is not ready to pump oil in Block A offshore Cambodia on the set-date of December 2012, complaining that more tasks need to be completed, but expressed only its desire to perform the best to achieve the goal as proposed by the government.
Cambodia officials said previously that the kingdom could gain the first drop of oil product on December 12, 2012. ”We are working closely with the Cambodian National Petroleum Authority (CNPA) to make it possible as soon as we can, but it is too early to set the date for pumping this year, and I am not sure when should be the proper time for pumping,” said Steve Glick…
The Southeast Asia Weekly, P. 3
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Superhighway network opens in Cambodia
April 30th, 2012, The Southeast Asia Weekly, Industry, International Relations, Telecommunications
Viet Nam and Cambodia have jointly launched a Superhighway Telecom Network which is expected to improve internet and telecommunication services in Cambodia and meet customer demands.
State-owned Viet Nam Telecom International (VTI) and Telecom Cambodia (TC) inaugurated the 260-km link, which connects VTI’s POP (Point of Presence) in Phnom Penh to HCM City, last Friday. …
The Southeast Asia Weekly, P. 2
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Pakistan garment sector picks Cambodia for relocation
April 29th, 2012, The Southeast Asia Weekly, Foreign Investment, Garment Industry, Industry, Textiles
The value-added textile sector, as the garment sector is called in Pakistan, has chosen Cambodia as an alternative destination for relocating their manufacturing units, owing to continued electricity and gas supply problems in the country. The power and gas shortage is affecting productivity in Pakistan’s apparel sector, which in turn, is affecting the sector’s exports. …
The Southeast Asia Weekly, P. 2
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Cambodia garment sector fears competition from Myanmar
April 29th, 2012, The Southeast Asia Weekly, Garment Industry, Industry, International Relations, Labor
The lifting of EU sanctions against Myanmar is bound to have an impact on the Cambodian garment sector, Cambodia Sin Chew Daily reported on Thursday.
The European Union announced earlier this week that it was lifting sanctions against the country. Japan and Canada have made similar announcements since the end of last week. …
The Southeast Asia Weekly, P. 2
Myanmar, Cambodia strengthen bilateral ties
March 21st, 2012, The Southeast Asia Weekly, Industry, International Relations, Tourism
Phnom Penh: Myanmar president U Thein Sien today began his state visit in Cambodia for bilateral cooperation. …
Thein Sien’s visit this year will boost the trade exchange between two countries and also under the framework of ACMECS, and ASEAN integration. …
The South East Asia Weekly
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Cambodia Security Exchange to begin trading early next year
October 17th, 2011, The Southeast Asia Weekly, Banking & Finance, Business & Commercial Development
Cambodian Deputy Prime Minister and Minister of Economy and Finance H.E Keat Chhon said Cambodia Security Exchange (CSX) will begin trading from January 2012.
Inaugurated in July, the CSX would be put on hold until next year because some rules and regulations have been being discussed in order to build a comprehensive regulation, H.E. Keat Chhon told media on Oct. 11. According to H.E. Keat Chhon, CSX needs some more rules and regulations to build public confidence.
Up to now, three state-owned enterprises, including Sihanoukville Autonomous Port, Telecom Cambodia and Phnom Penh Water Supply Authority, have been preparing for the IPOs to list and trade on the CSX, he said, adding that some private companies are also interested in listing on the CSX. The CSX is jointly established by the Cambodian Ministry of Economy and Finance with 55 percent shares and the Korean Exchange holding the remaining 45 percent.
AKP, p 2, vol 5, no 42
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(Note: Infrequently Updated.)
EU organizes a seminar on food security
October 14th, 2011, The Southeast Asia Weekly, Agriculture & Agri-business, Economics, Environment & Natural Resources, Land Tenure
The Delegation of the European Union to Cambodia in collaboration with the Council for Agricultural and rural Development, Ministry of Agriculture, Forestry and Fisheries and three of the EU-funded projects (CEDAC, HKI, WHH) on October 6 organized a Food Security Project Workshop “Improving Food Security—Lessons learned and challenges ahead” to put together the best experience and knowledge on how to address the cause and the consequences of absolute poverty “Food Insecurity”. H.E. Mr. Rafael Dochao Moreno, Chare d’Affaires a.i. of EU Delegation to Cambodia said that food insecurity is both a cause and a consequence of absolute poverty. “In reality, the poorest and vulnerable people such as the landless and the small farmer and among the most chronically food-insecure.” Although Cambodia has made a remarkable economic growth in the past decade and achieve a surplus in rice production, there are still many Cambodians in different areas facing with food insecurity. “Food poverty has only fallen from 24 percent to 18 percent,” he stressed…
Sok Lak, p 7, vol 5, no 41
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(Note: Infrequently Updated.)
IBM eyes on Cambodia market again
October 14th, 2011, The Southeast Asia Weekly, Business & Commercial Development, Technical Assistance
IBM reaffirmed its commitment to the Cambodian market through a two-day event from 5 to 6 October in Phnom Penh which it demonstrated technology solutions for companies and governments of all sizes. With the potential market in Cambodia, IBM targets to set up its full branch in Cambodia at the beginning of next year to expand its global market.
“Cambodia is a big potential market for IBM while it viewed 3.5 billion market opportunity by 2013 in ASEAN geography expansion”. IBM can be able to capture more than 10 percent market share by 2013,” Phyllis Tan, GEO Expansion Sales Executive. Currently, IBM expand its geography covered 18 cities among ASEAN countries including Phnom Penh and it plans to expand four cities every year by 2015, he added…
Soklak, p 5, vol 5, no 41
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Cargo growth for Phnom Penh Port reaches 30% in September of 2011
October 14th, 2011, The Southeast Asia Weekly, Business & Commercial Development, Energy
“Cargo transferred to and from the Phnom Penh Autonomous Port (PPAP) is at 121,654.116 tones in September of 2011, increasing 30 percent if comparing to September 2010 with 92,648.796 tones,” according to the report from the PPAP obtained by SEAW on October 3rd.
This September report added that, 7,504 containers—Twenty Feet Equivalent Unites (TEUs)—were transferred to and from the port with an increase of 20 percent compared to the data in September of 2010 with only 6,229 TEUs…
Among the volume of 121,654.116 tones in September, 46,591.310 Tones are goods (25,299.750 Tones are imported, and 21,291.560 Tones are exported). 57,067.802 tones are Oil and Gas, and 17,995.004 tones are loaded and discharged goods outside the port. “145 ships docked the port September with 22 percent increase if comparing to September 2010 with only 119 ships,” the report stated…
Tim Vutha, p 3, vol 5, no 41
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(Note: Infrequently Updated.)
Cambodia urges Singapore to invest Rice Mills and Agro-Industry
October 14th, 2011, The Southeast Asia Weekly, Business & Commercial Development, International Relations, Uncategorized
“Singapore will boost Singaporean companies to seek opportunities to invest in Cambodia, especially in the agro-industry,” H.E. Hor Namhong, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, announced on Wednesday morning after bilateral talks with his Singaporean counterpart Excellency Mr. K. Shanmugam, at the ministry.
H.E. Hor Nomhong said: “I appealed to Singaporean investors to expand business in Cambodia. I told the Singapore side that Cambodia had over three million units of rice product for exporting to foreign markets and we need Singapore to invest in rice mills,” adding that Singapore could invest in rice mills to produce rice for exporting to a third party country. The Minister gave thanks to Singapore that has trained human capital for 5,000 Cambodian officials both in Phnom Penh and Singapore. “Trade volume for the two countries was worth about US$ 700 million for the first semester of 2011,” Minister said…
Sea Weekly, p 3, Vol 5, No 41
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Cambodia establishes Constructors Association
October 14th, 2011, The Southeast Asia Weekly, Industry, Labor
The Constructors Association (C.A.) was officially formed on October 7th with an aim to develop the country’s construction and real estate sector. The C.A. launching ceremony was presided over by Senior Minister and Minister of Land Management, Urban Planning and Construction H.E. Im Chhun Lim. The C.A. establishment is to respond to the development of construction in the new era in Cambodia and also to the rapid development in the country’s construction and real estate sector, said the minister. It would also enable Cambodian constructors to communicate and share experiences with constructors associations of the ASEAN countries and the ASEAN Constructors Federation, he added. Oknha Pung Kheav Se, President of the C.A. said the association would set an international standard for sustainable development of the construction sector in the country. The construction is one of the pillars that support the country’s economic growth, he said. In the first semester of the year, the construction grew by 93.79 percent if compared to the same period of the previous year. It contributed 5.5 percent or about US $620 million to the GDP in 2010 and the sector generates some 150,000 jobs, according to the Ministry of Land Management, Urban Planning and Construction’s statistics.
AKP, p 2, Vol 5, No 41
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(Note: Infrequently Updated.)