Thai paint company to expand across ASEAN

30 March 2016

Thai paint manufacturer TOA Paint Thailand Co Ltd is planning to construct three new factories across Cambodia, Myanmar and Indonesia at an estimated investment of $28.2 million to boost production and expand the company’s presence in ASEAN. It aims to control 15% of the market share, outpacing the current market leader, Nippon Paint.

Source:

http://www.phnompenhpost.com/business/thai-paint-company-expand-across-asean

Russian firm exploring potential rail deal

30 March 2016

A visiting representative of JSC Russian Railways, the state-run firm that manages rail infrastructure and operates passenger and freight services in Russia, met executives of Cambodia’s railway operator yesterday to discuss possible cooperation between the two companies.

Source:

http://www.phnompenhpost.com/business/russian-firm-exploring-potential-rail-deal

Commerce Minister Highlights “Investment Opportunity in Cambodia”

30 March 2016

Cambodia Minister of Commerce spoke about “Investment Opportunity in Cambodia” The investment law provides very generous investment incentives such as low corporate income tax of 20%, up to nine years tax holiday, no restriction on foreign ownership in every economic sector, no exchange control, and no nationalization and price control.

Source:

http://www.akp.gov.kh/?p=78658

Water Authority Announces $3 mil Dividend

30 March 2016

State-owned Phnom Penh Water Supply Authority (PPWSA), one of three companies listed on the stock exchange, will pay out more than $3 million in dividends for 2015 on April 18, a 50 percent increase on 2014, reflecting its improved performance.

Source:

http://www.khmertimeskh.com/news/23339/water-authority-announces--3-mil-dividend/

Cambodia, China Sign Work Plan for IPR Bilateral Cooperation 2017-2019

28 March 2016

Cambodia’s National Committee for Intellectual Property Rights (NCIPR), Ministry of Commerce, and China’s State Intellectual Property Office (SIPO) reached here late last week the Work Plan for Bilateral Cooperation 2017-2019. The key focuses of the agreement include capacity building, the exchange of documents and information, IT systems etc.

Source:

http://www.akp.gov.kh/?p=78467

Royal buys out One TV to focus on distribution

28 March 2016

Cambodian conglomerate Royal Group has acquired the remaining shareholding of One TV from Russian-owned General Satellite Group in a move to boost the distribution of Cambodia’s niche pay for digital terrestrial television (DTT) market. The firm will continue its plan to move into markets such as Bangladesh and Pakistan.

Source:

http://www.phnompenhpost.com/business/royal-buys-out-one-tv-focus-distribution

Malaysian firm wagers on Sihanoukville's potential

25 March 2016

An obscure Malaysian company has obtained approval to develop hotels and casinos in Sihanoukville, with an online promotional video claiming the firm will transform the coastal city into the “Macau of Southeast Asia.” Apart from running casinos, the government approval issued 1 March allows the firm to operate online gaming platforms, nightclubs, karaoke bars, massage parlours and even dog racing.

Source:

http://www.phnompenhpost.com/business/malaysian-firm-wagers-sihanoukvilles-potential

Imports of Construction Materials Rise But Costs Stable

25 March 2016

Imports of construction materials grew dramatically last year compared with the year before due to strong demand, while the prices of imported goods declined. It is a good sign that shows growth in the construction sector, including residential and commercial buildings, infrastructure, roads, bridges and factories.

Source:

http://www.khmertimeskh.com/news/23189/imports-of-construction-materials-rise-but-costs-stable/

Japan Dispatches Experts to Study Cambodian Airports

25 March 2016

A group of Japanese experts has been on a visit in Cambodia to study the possibility to engage the Japanese private sector in the development of Cambodian airports’ infrastructure. The visit was made after All Nippon Airways (ANA) Co., Ltd., a major Tokyo-based airlines company, announced to begin its daily direct flight to Cambodia on 1 September 2016.

Source:

http://www.akp.gov.kh/?p=78414

Bicycles find new paths to EU

24 March 2016

Local bicycle exporters are adopting strategies to swerve around barriers that would impede their access to the lucrative European Union, which increased its orders for bicycles assembled in Cambodia by nearly 10% last year. Cambodian firms shipped over 1.7 million bicycles valued at $364 million to the European Union in 2015, compared with 1.5 million units valued at $333 million a year earlier.

Source:

http://www.phnompenhpost.com/business/bicycles-find-new-paths-eu

China Signs Agreement on Cambodia’s Gold and Silver Beach Resort Development in Preah Sihanouk Province

24 March 2016

Cambodia and Thirteen Chinese companies have signed agreement on the development of Meas Prak (gold and silver) beach resort, which covers over 3,000 hectares of land, some 18 kilometers from Preah Sihanoukville and 7.3 kilometers from Preah Sihanouk International Airport. The country is expected to welcome at least 2 million Chinese tourists by 2020.

Source:

http://www.akp.gov.kh/?p=78165

Cambodia’s Modern Cement Plant To Emerge by 2018 in Kampot Province

24 March 2016

Cambodia’s biggest cement plant will emerge in Kampot province’s Banteay Meas district in 2018, with a total investment capital of some US$262 million. Once the construction completed, the plant will be capable of producing some 5,000 tons of cement a day, and provide some 500 direct jobs and other 5,000 indirect jobs to local people.

Source:

http://www.akp.gov.kh/?p=78246

India Shows Interest in Cambodia’s Real Estate Sector

18 March 2016

A group of Indian investors have expressed their interest to invest in Cambodia’s real estate sector after studying investment opportunities in the country in prioritized sectors for investment including agriculture, industry, commerce, and tourism. The investment plan would begin in Phnom Penh later this year before being expanded to provinces.

Source:

http://www.akp.gov.kh/?p=78025

Cambodia To Start Passenger Train Service Early Next Month

18 March 2016

The Royal Railway, a local company granted a 30-year concession to operate Cambodia’s rail network, will offer commercial passenger service in early April. Between 130 to 165 seats will be available for passengers every weekend from 9 April Phnom Penh and Preah Sihanouk coastal province. The trip would take about 7-8 hours on a 256-kilometer-long railway.

Source:

http://www.akp.gov.kh/?p=78027

Hypermarket giant to try its luck in Cambodia

18 March 2016

Giant, one of the biggest players of the retail industry in Malaysia, will open its first Cambodian outlet in Phnom Penh’s City Mall and is planning a second outlet in the Parkson shopping mall currently under construction. Giant is a wholly owned subsidiary of pan-Asian retailer Dairy Farm International Holdings Ltd (DFI), which also holds a 70% stake in Lucky Supermarket’s parent company, DFI Lucky Private Ltd.

Source:

http://www.phnompenhpost.com/business/hypermarket-giant-try-its-luck-cambodia

Organics finding a following

18 March 2016

As Phnom Penh sees a sprouting of organic grocery stores across the city, the newest entrant in the market says it will go a step further and sell chemical-free pesticides to farmers to encourage the growing trend of organic products and farming techniques. The Eco-Agri Centre (EAC) will look to build a network of organic suppliers and strengthen the value chain needed to provide and promote such products.

Source:

http://www.phnompenhpost.com/business/organics-finding-following

Cargo giants call on Sihanoukville port

17 March 2016

As Cambodia's sole deep-sea port in Sihanoukville looks to increase its presence on global shipping routes, the decision by two major Chinese shipping companies six months ago to call at the port has seen mixed results, with one firm already dropping out due to low container traffic. With the increase in shipping routes to China, exports will see an uptick in their price competitiveness, including to other ASEAN member nations.

Source:

http://www.phnompenhpost.com/business/cargo-giants-call-sihanoukville-port

NagaCorp scaling back junket incentives

17 March 2016

NagaCorp Ltd is reducing the incentives it offers to junket operators in order to contain rising sales costs and increase profit margins from the Asian VIP market at its NagaWorld in Cambodia. It’s about 70% of the company’s $175.8 million cost of sales went to covering the tab of its five largest junket operators, which collectively brought in just under a third of the company’s $503.6 million revenue.

Source:

http://www.phnompenhpost.com/business/nagacorp-scaling-back-junket-incentives

Cambodia Welcomes China’s Discharge of Water to Mekong Downstream

17 March 2016

The Ministry of Foreign Affairs and International Cooperation (MFA-IC) of Cambodia welcomes the decision of the Government of China to discharge water from Jinghong Hydropower Station in Yunnan province to downstream Mekong River for emergency use. China has discharged 2,300 million m3 of water to help alleviate the impacts of drought sustained by countries at the Mekong River areas.

Source:

http://www.akp.gov.kh/?p=77927

South Korean lender has Camko in its sights

16 March 2016

Korean loan provider Rush and Cash has been selected as the preferred bidder for Camko Specialised Bank, after 100% of its shares were put up for sale last month by a South Korean state-run deposit insurer. KDIC was directed by South Korean courts to dilute the stake of two Busan affiliates – Busan and Busan 2 Savings Banks – to recover money it paid Korean investors as insurance.

Source:

http://www.phnompenhpost.com/business/south-korean-lender-has-camko-its-sights

Cambodia Airports Handle Nearly 685,000 Passengers in February 2016

16 March 2016

Cambodia Airports handled close to 685,000 passengers and almost 14,000 flights movements in February of 2016, an increase of 7.1% and 12.5% respectively compared to last year. Cargo tonnage in Phnom Penh Cargo Terminal grew by 14.1% while Siem Reap Airport Cargo Terminal saw 54.3% more cargo compared to 2015.

Source:

http://www.akp.gov.kh/?p=77865

Cambodia, Switzerland Sign Cooperation Framework Agreement

16 March 2016

Cambodia and the Swiss Federal Council reached Framework Agreement concerning Technical, Financial and Economic Cooperation as well as Humanitarian Assistance. Currently, Switzerland’s some US$12 million, focusing on local governance and citizen participation, agriculture and food security, skills development and employment, and Kantha Bopha Hospitals.

Source:

http://www.akp.gov.kh/?p=77867

ASEAN FTA With Hong Kong, China on Track

14 March 2016

Trade between Cambodia and Hong Kong is rising fast, expanding from about $1 billion in 2014 to $1.3 billion last year. During last week’s meeting for an FTA between ASEAN, Hong Kong and China speakers noted that progress had been made in negotiations in specific areas like the trade in goods, trade in services, investment, rules of origin, standards, technical regulations, and conformity assessment procedures.

Source:

http://www.khmertimeskh.com/news/22681/asean-fta-with-hong-kong--china-on-track/

India Investrade 2016 Hosted in Cambodia

14 March 2016

Cambodia has been hosting India Investrade 2016 at Koh Pich Convention and Exhibition Center in Phnom Penh. Bilateral trade between the two countries increased with total trade in 2015 of approximately US$324 million. This was achieved due to good cooperation between the two governments and the private sectors of the two countries.

Source:

http://www.akp.gov.kh/?p=77689

Cambodia and RoK Boosts Cooperation

14 March 2016

Cambodia and the Republic of Korea (RoK) are tightening cooperation between the two countries through increasing grant aid, trading, and labor force opportunities. For 2016, the Republic of Korea will provide a total official development aid of US$51 million to Cambodia, in addition to the US$300 million development loans from 2015 to 2018.

Source:

http://www.akp.gov.kh/?p=77776

EU market could tap into tapioca

9 March 2016

Local agro-industrial conglomerate Mong Reththy Group is negotiating a new partnership that would send large-volume shipments of Cambodian cassava products to Europe for the first time. “Their demand is big. They need 10 containers a month or more”. However, Cambodian tapioca farmers usually grow the crop on small farms, so it will take time to produce enough tapioca for mass export and to study the preferred variety’s seeds.

Source:

http://www.phnompenhpost.com/business/eu-market-could-tap-tapioca

NagaCorp proposes dual company name

9 March 2016

Nagacorp Ltd, the Hong Kong-listed operator of NagaWorld casino in Phnom Penh, will ask its shareholders to approve a dual foreign name for the company. The name, written in traditional Chinese characters and containing a phrase meaning “gold world,” would be filed with authorities in the Cayman Islands. It would have no effect on existing shareholders and is part of a strategy to attract more Chinese gamblers to its Cambodian casino operation.

Source:

http://www.phnompenhpost.com/business/nagacorp-proposes-dual-company-name

U.S. Science Envoy To Visit Cambodia This Week

9 March 2016

U.S. Science Envoy will visit to three countries in Southeast Asia (Cambodia-Thai-Lao) from 4-19 March 2016. She will participate in the Cambodia Science & Technology Festival and give a talk entitled “Why I Love Being a Scientist”. This is to strengthen the United States’ science and education relationships overseas.

Source:

http://www.akp.gov.kh/?p=77512

Cambodia’s Oil Imports Up 64% in 2015

4 March 2016

Cambodia imported 2.55 million tons of petroleum in 2015, up 64% from 1.55 million tons in the year before. The country has planned to build a 5-million-ton oil refinery under a joint venture between Cambodian and Chinese companies. The project, estimated to cost 1.67 billion US dollars, will be constructed on the 80-hectare parcel within the boundary of Preah Sihanouk and Kampot provinces.

Source:

http://www.hellenicshippingnews.com/cambodias-oil-imports-up-64-pct-in-2015/

Surge in new product standards as tariffs fall

4 March 2016

A recent surge in the development of national standards for manufactured goods and food products is creating more opportunities for local products in regional markets. “Applying the standards to my products is not a concern because I already aim to produce standard, quality products.”

Source:

http://www.phnompenhpost.com/business/surge-new-product-standards-tariffs-fall

A Dutch Delegation Explores Investment Opportunities in Cambodia

4 March 2016

A delegation from the Netherlands has sought investment opportunities in Cambodia. The delegation’s mission was to explore business opportunities in fruit, vegetable and the spices sectors and the possibility of setting up a program supporting Cambodian companies in their need to export products to the EU with the Center for the Promotion of Imports from Developing Countries (CBI).

Source:

http://www.akp.gov.kh/?p=77339

Cassava, Rubber Processing Plants Being Mulled: Official

3 March 2016

Japan may import cassava and rubber from Cambodia and investors from the country are considering building processing plants for the two commodities here, in Cambodia. Japan imported products from Cambodia worth about $967 million last year – mostly garments and shoes – while it exported about $301.9 million worth of goods to Cambodia.

Source:

http://www.khmertimeskh.com/news/22128/cassava--rubber-processing-plants-being-mulled--official/

European Imports of Cambodian Bicycles Up

3 March 2016

Despite concern from the E.U. that Cambodia is being used by Chinese bicycle makers to avoid an anti-dumping duty, the bike industry has maintained strong export growth to Europe. Cambodia exported about 1 million bicycles to the E.U. in 2015, a 16% increase on the previous year, maintaining its place as the second-largest exporter to the bloc behind Taiwan.

Source:

https://www.cambodiadaily.com/news/european-imports-of-cambodian-bicycles-up-109352/

Third undersea cable to plug Kingdom into data fast lane

3 March 2016

The government has contracted the private sector to build a third submarine communications cable linking Cambodia to a major international telecommunications artery in a bid to significantly increase internet speed while helping to bring down prices. The project is expected to be completed by the end of 2017 and will involve an investment of $69 million.

Source:

http://www.phnompenhpost.com/business/third-undersea-cable-plug-kingdom-data-fast-lane

Block D exploration awaits gov’t approval, says Mirach

3 March 2016

Singapore-listed oil and gas exploration firm Mirach Energy is facing “some challenges” in negotiating the terms for exploring its Cambodian offshore oil and gas concession, following approval by the Ministry of Mines and Energy (MME) to extend its exploration period of Block D through the end of 2018.

Source:

http://www.phnompenhpost.com/business/block-d-exploration-awaits-govt-approval-says-mirach

New Loan Though ADB to Boost Cambodia’s TVET

3 March 2016

Around 34,000 Cambodians, especially women and those from unfortunate background, will become trainees of technical vocational education and training (TVET) to Cambodia. Asian Development Bank (ADB)’s loan add up to the existing initial ADB assistance of US$30 million to boost the training in Cambodia.

Source:

http://www.akp.gov.kh/?p=77253