Thousands of workers in Cambodia march for pay rise on Int’l Labor Day
May 1st, 2013, Xinhua News, Business & Commercial Development, Economics, Exports, Garment Industry, Industry, Labor, Trade
About 5,000 Cambodian workers took to the street on Wednesday to mark the International Labor Day, calling for pay rise, better labor conditions and decrease in petrol prices, a union representative said.
Marchers, mostly garment workers, held banners and walked from the Freedom Park near the Wat Phnom historical site to the National Assembly in order to submit a petition to the National Assembly. …
The garment industry is Cambodia’s largest income earner, representing more than 80 percent of the country’s exports.
The latest report of the Ministry of Commerce showed that currently, the country has about 500 garment and footwear factories employing some 510,600 workers. Last year, the country exported garment products in equivalent to 4.6 billion U.S. dollars, up 8 percent year-on-year. …
The premier recalled that the worker’s monthly salary was just more than 50 U.S. dollars in 2008 and increased to 61 U.S. dollars in 2010 and further rose to 80 U.S. dollars from May 2013.
He said the government would be happy if the employers could increase more wage for workers.
Xinhua News Staff
http://news.xinhuanet.com/english/world/2013-05/01/c_132352087.htm
Cambodia’s trade with Thailand down 2.3 pct in Q1
April 29th, 2013, Xinhua News, Business & Commercial Development, Economics, Exports, Imports, Industry, International Relations, Trade
Bilateral trade between Cambodia and Thailand went down by 2.3 percent during the first quarter of this year, according to the statistics released by [the] Thai Embassy in Phnom Penh on Monday.
Officials said the drop was due to “Thai baht appreciation, not ongoing border conflict” between the two nations. …
Cambodia’s export to Thailand was 101 million U.S. dollars, up 19 percent, while Thailand’s export to Cambodia was 1 billion U.S. dollars, down 4 percent, it said. …
Thailand is the second largest trading partner of Cambodia. Last year, bilateral trade valued at 3.8 billion U.S. dollars, up 40 percent year-on-year.
Xinhua News Staff
http://news.xinhuanet.com/english/business/2013-04/29/c_132349426.htm
Cambodia’s garment exports up 17 pct in Q1
April 26th, 2013, Xinhua News, Business & Commercial Development, Economics, Exports, Garment Industry, Industry, International Relations, Textiles, Trade
Cambodia exported garment and textile products in equivalent to 1.34 billion U.S. dollars in the first quarter of 2013, up 17 percent from 1.14 billion U.S. dollars at the same period last year, the Commerce Ministry’s report showed Friday. …
Garment industry is the country’s largest income earner, representing more than 80 percent of the country’s exports.
The sector consists of more than 300 factories, employing about 350,000 workers.
The whole year of 2012, the country exported garment products in equivalent to 4.6 billion U.S. dollars, up 8 percent year-on- year.
Xinhua News Staff
http://news.xinhuanet.com/english/business/2013-04/26/c_132342123.htm
Cambodia collects 122 mln USD in tax in last two months
March 7th, 2013, Xinhua News, Business & Commercial Development, Economics, Industry, Trade
Cambodia’s General Department of Taxation said in a press release on Thursday that the country collected 122 million U.S. dollars of tax in the first two months in 2013, up 27 percent compared to the same period last year. …
In the whole year of 2012, the country earned 740 million U.S. dollars in tax, up 25 percent rise year-on-year. …
Xinhua News
http://www.asean-china-center.org/english/2013-03/08/c_132218418.htm
Serbian FM to visit Cambodia to boost bilateral ties
February 22nd, 2013, Xinhua News, International Relations, News Source
Serbian Minister of Foreign Affairs Ivan Mrkic will pay a two-day visit to Cambodia next Monday to promote bilateral relations, according to a press release from Cambodia’s Foreign Ministry on Friday. …
Xinhua
http://www.shanghaidaily.com/article/article_xinhua.asp?id=126862
Cambodia’s insurance industry grows by 21 pct in 2012
February 19th, 2013, Xinhua News, Business & Commercial Development, Domestic Investment, Foreign Investment, News Source
Cambodia’s insurance industry earned a total premium of $36 million last year, a 21 percent rise year-on-year, according to the industry’s report on Monday.
The main sectors of the premium are from fire insurance of 28 percent, motor insurance of 19 percent, personal accident insurance of 18 percent, health insurance of 14 percent, and miscellaneous insurance, said the report of the General Insurance Association of Cambodia (GIAC). …
U.S. to aid Cambodia in agriculture, food security, environment
September 20th, 2012, Xinhua News, Agriculture & Agri-business, Foreign Aid, International Relations, Technical Assistance
The United States will sign up to provide 18.5 million U.S. dollars to Cambodia to support the country’s priorities in agriculture, food security, and climate change adaptation and mitigation, according to a media release from the U.S. Embassy here on Thursday.
The agreement will be signed in Phnom Penh on Sept. 21 between Cambodian Deputy Prime Minister and Minister in charge of the Council of Ministers Sok An, and Flynn Fuller, director of the U.S. Agency for International Development (USAID) to Cambodia, said the press release…
Xinhuna
http://news.xinhuanet.com/english/world/2012-09/20/c_131863234.htm
Cambodia’s construction sector attracts 1.53 bln USD investment in 8 months
September 18th, 2012, Xinhua News, Construction, Foreign Investment, Infrastructure, International Relations, Technical Assistance
Cambodia’s construction sector has attracted the investment of 1.53 billion U.S. dollars in the first eight months of 2012, a 74 percent rise compared with 881 million U.S. dollars at the same period last year, a report from the Ministry of Land Management, Urban Planning and Construction showed Monday.
From January to August this year, the ministry had issued licenses to 1,231 construction projects, down 16 percent from 1, 470 projects at the same period last year…
Xinhuanet Staff
http://news.xinhuanet.com/english/business/2012-09/17/c_131855799.htm
China investment in energy ‘crucial’ to Cambodia
September 13th, 2012, Xinhua News, Climate Change, Construction, Electricity, Energy, Environment & Natural Resources, Environmental change, Foreign Investment, Hydroelectricity, Infrastructure, International Relations, Lakes/Rivers, Technical Assistance, Water
Cambodian Minister of Industry, Mines and Energy on Thursday hailed Chinese companies for hugely investing in the country’s energy sector, which is a key element to support the sustainable social and economic development.
Suy Sem’s appreciation was made during a bilateral meeting with Wu Yin, deputy administrator of China’s National Energy Administration.
“Most investors in the country’s energy sector are from China. Chinese investors have invested billions of US dollars in building hydropower dams and power transmission lines in Cambodia,” he told reporters after the meeting. “The investment in this sector is very vital for Cambodia’s social and economic development and poverty alleviation.”
Suy Sem said that Chinese companies have invested the total investment of over $1.6 billion to construct six hydro-electric dams with the total capacity of almost 1,000 megawatts in Cambodia…
Xinhua Staff
http://www.chinadaily.com.cn/business/2012-09/13/content_15756465.htm
ASEAN senior officials meet ahead of 30th ASEAN Ministers on Energy Meeting
September 10th, 2012, Xinhua News, Climate Change, Electricity, Energy, Environment & Natural Resources, Environmental change, Green Energy, Hydroelectricity, International Relations, Natural Gas, Oil, Solar Power, Water
ASEAN senior officials on energy gathered here on Monday to discuss and prepare documents for the 30th ASEAN Ministers on Energy Meeting and related meetings to be held on Sept. 12. The two-day preparatory meeting, under the theme “ASEAN Green Connectivity”, was chaired by Tun Lean, director general of energy department at Cambodia’s Ministry of Industry, Mines and Energy ( MIME).
Speaking to reporters on the sidelines of the meeting, Victor Jona, deputy director general of the MIME’s energy department, said the discussions were focused on ASEAN Power Grid Connectivity, ASEAN Green Energy Connectivity and efficiency of energy consumption in the bloc. “We discussed directions and targets of key energy matters crucial to the realization of both the ASEAN Connectivity and eventually the aspiration of an ASEAN Community by 2015,” he said. The meeting was also a chance to further strengthen energy cooperation within ASEAN and with dialogue partners, and international organizations, he added…
Xinhua
http://news.xinhuanet.com/english/world/2012-09/10/c_131841006.htm
Japanese bank to sign cooperation deal with Cambodian bank
August 23rd, 2012, Xinhua News, Banking & Finance, International Relations
Sumitomo Mitsui Banking Corporation, one of the leading banks in Japan, will sign a memorandum of understanding with Cambodia’s leading Acleda Bank on Friday for business cooperation, according to a press release from Acleda on Thursday.
Under the agreement, both banks will provide mutual support for their respective clients, in addition to their economic cooperation in such activities as loans, deposits, money transfer, cash management, and other trade finance services, said the press release…
Xinhua
http://news.xinhuanet.com/english/business/2012-08/23/c_131803018.htm
UN’s Under-Secretary-General Heyzer to visit Cambodia
August 21st, 2012, Xinhua News, International Relations, Technical Assistance
Dr. Noeleen Heyzer, Under-Secretary-General of the United Nations and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP) , will make her first official visit to Cambodia from Aug. 21-24 to further enhance ties between the UN and Cambodia.
The visit is aimed at discussing topics and issues regarding to sustainable development, regional integration, and Cambodia’s achievements and challenges towards achieving the Millennium Development Goals by 2015, according to a press release from the National Committee for the Economic and Social Commission of Asia and the Pacific (NC-ESCAP) on Monday…
Xinhua
http://news.xinhuanet.com/english/world/2012-08/20/c_131796014.htm
Cambodian state-owned telecom firm sees 5% revenue drop in H1
August 17th, 2012, Xinhua News, Business & Commercial Development, Domestic Investment, Industry, Telecommunications
The state-owned Telecom Cambodia reported a 5 percent decline in revenues in the first half of this year due to tough competition in the country’s telecommunication industry, company director general Lao Saroeun said Friday.
During the January-June period this year, the firm earned a gross revenue of 14.2 million U.S. dollars, a 5 percent drop from 15 million U.S. dollars a year earlier, he told Xinhua over telephone, attributing the decline to tough competition in the telecom market…
Xinhua
http://news.xinhuanet.com/english/business/2012-08/17/c_131792460.htm
Drought hits 11 provinces in Cambodia: spokesman
August 16th, 2012, Xinhua News, Agriculture & Agri-business, Climate Change, Disasters & Disaster Management, Environment & Natural Resources, Farming, Rice
Drought has been hitting 11 out of the 24 cities and provinces in Cambodia and affecting tens of thousands of hectares of rice seedlings, Keo Vy, spokesman and chief of the Cabinet of the National Committee for Disaster Management, said Thursday
The drought-hit provinces are Kampong Speu, Takeo, Svay Rieng, Kandal, Prey Veng, Kampot, Battambang, Pursat, Banteay Meanchey, Uddar Meanchey and Preah Vihear. “If it persists for a longer period, there will be more damage,” he said…
Cambodia Inaugurates China-funded Road in N Provinces
August 8th, 2012, Xinhua News, Business & Commercial Development, Construction, Foreign Aid, Foreign Investment, Infrastructure, International Relations, News Source, Technical Assistance
Cambodia on Wednesday inaugurated a 128-kilometer China-funded national road No. 62 in an effort to boost social and economic development in northern provinces.
The road, from Kampong Thom province’s Kampong Svay district to the provincial town of Preah Vihear province, cost about 52 million U.S. dollars under a soft loan from the Government of China and was built by the Shanghai Construction (Group) General Company.
Prime Minister Hun Sen and Pan Guangxue, Chinese ambassador to Cambodia, presided over the inauguration ceremony, which was attended by top government officials, diplomatic corps, some 10, 000 locals and students. …
So far, China has funded the construction of more than 2,000 kilometers of roads and bridges in Cambodia, he said. …
Xinhua
http://english.cri.cn/6909/2012/08/08/2821s716012.htm
Chinese firm plans investment in Cambodia
August 8th, 2012, Xinhua News, Agriculture & Agri-business, Business & Commercial Development, Economics, Farming, Foreign Investment, International Relations, Livestock, Rice, Technical Assistance
PHNOM PENH — China’s Hainan Ruijin Investment Holding Group planned to invest in rice plantation, cow farm and tourism development in Cambodia, the group’s chairman Pan Xiaoping said Wednesday.
Pan said during a meeting with Heng Samrin, president of Cambodia’s National Assembly that his company decided to establish an overseas branch office in Cambodia to focus on the three projects.
Pan did not say when the projects will be started.
Heng Samrin pledged full support for those projects, which he said will be good to boost the development of Cambodia’s economy.
“Foreign investment is a key factor to accelerate economic development in Cambodia,” he said.
Xinhua
http://usa.chinadaily.com.cn/business/2012-08/08/content_15652505.htm
Cambodia’s inflation slightly up to 3.8% in June
July 25th, 2012, Xinhua News, Economics
Cambodia’s consumer price index (CPI) increased by 0.1 percent to 3.8 percent in June from 3.7 percent in May this year, according to the latest statistics of the National Institute of Statistics (NIS) on Wednesday.
From May to June 2012, price for food increased by 0.9 percent, price for meat increased by 1.3 percent, price for fresh beef rose by 2.6 percent, and price for fresh fish and seafood increased by 1.3 percent, said the statistics. …
Xinhua
http://news.xinhuanet.com/english/business/2012-07/25/c_131737766.htm
Cambodia’s garment export reaches 2.1 bln USD in H1, up 9 pct
July 23rd, 2012, Xinhua News, Economics, Garment Industry, Industry, Textiles
Cambodia had exported garment and textile products in equivalent to 2.1 billion U.S. dollars in the first six months of 2012, up 9 percent from 1.93 billion U.S. dollars in the same period last year, a report from the Commerce Ministry showed on Monday. …
Xinhua
http://news.xinhuanet.com/english/business/2012-07/23/c_131732434.htm
Cambodia’s top legislator to visit Vietnam, Laos
July 18th, 2012, Xinhua News, International Relations
The President of Cambodia’s National Assembly, Heng Samrin will make a two nation tour to Vietnam and Laos from July 20-30 to further enhance bilateral ties, according to a press release from the National Assembly on Wednesday. …
Xinhua
http://news.xinhuanet.com/english/world/2012-07/18/c_131722850.htm
China provides largest loan to Cambodia
July 17th, 2012, Xinhua News, Agriculture & Agri-business, Business & Commercial Development, Financial Services, Foreign Aid, International Relations, Technical Assistance
China is the largest provider of financial assistance to Cambodia for agriculture and irrigation development in the last three years, Cambodia’s Minister of Finance Keat Chhon said on Tuesday.
Since 2010 to date, he said, Cambodia has received a total loan of $561 million and a total grant of $22 million from South Korea, India, China, Japan and France. …
Xinhua
http://www.chinadaily.com.cn/business/2012-07/17/content_15591814.htm