July 25, 2013
Reposted from Bernama
PHNOM PENH, July 24 (Bernama) — Cambodia’s garment exports reported US$2.51 billion revenue in the first six months of the year, a 19.5 percent rise from US$2.1 billion over the same period last year, the Commerce Ministry said.
Cambodian apparels are mostly exported to the United States and European countries along with Canada, Japan, South Korea and China, Xinhua news agency reported. More…
July 23, 2013
A man loads up lemon grasses in his motorcycle near a couple strolling on the river bank in the Mekong river in Phnom Penh, Cambodia, Wednesday, Aug. 29, 2012. (AP Photo/Heng Sinith)
Reposted from East Asia Forum
By Heng Pheakdey
The China–Cambodia relationship has reached new peaks in recent years.
China is now Cambodia’s largest foreign investor, a major donor of aid and an increasingly important trading partner. But this growing relationship is also accompanied by renewed controversies.
China undeniably plays a crucial role in Cambodia’s economic development. China invested a total of US$9.17 billion between 1994 and 2012. Chinese investment in the textiles industry has increased Cambodia’s exports and created employment for thousands of women in rural areas, while investment in the energy sector, particularly in hydropower development, has helped reduce Cambodia’s chronic energy shortages. China is also a major source of foreign assistance for Cambodia. By 2012, Chinese loans and grants to Cambodia reached US$2.7 billion, making it the country’s second-largest donor after Japan. Cambodia has been using China’s so-called ‘no strings attached’ aid to build roads and bridges, helping to improve the country’s much needed infrastructure. More…
July 19, 2013
Reposted from Global Finance
By Dan Keeler
Cambodia is emerging as a key investment destination—and potential consumer market—for companies focused on Southeast Asia.
Often overshadowed by its regional rivals Vietnam, Thailand and, most recently, Myanmar, Cambodia has been undergoing a quiet transformation. After more than a decade of 6%-plus growth—with just one hiccup during the global crisis in 2009—the Southeast Asian nation of 15 million people has begun attracting serious investment. More…
July 15, 2013
Reposted from: Singapore Business Review
In a release, Oxley Holdings Limited announced that the Group’s 49%-owned associated company, Oxley-Worldbridge (Cambodia) Co., Ltd., had entered into an amendment agreement dated 1 July 2013 in respect of a share sale and purchase agreement dated 22 May 2013 to acquire all the shares in the capital of CityStar Phnom Penh Cottages Ltd, from three unrelated third parties, for an aggregate purchase consideration of US$11,262,500.
July 10, 2013
Reposted from International Business Times
By Sophie Song
With the lowest wage rate in Southeast Asia and a young workforce, Cambodia has emerged as the global manufacturing hotspot despite outbreaks of violent industrial action and safety concerns.
Its garment sector, which makes up the bulk of the country’s output in the global economy, is booming – the country exported $1.56 billion worth of garments and textiles, a 32 percent year-on-year growth. More…
July 2, 2013
Reposted from China Daily Asia
By Ben Yue in Hong Kong
Cambodia lags behind its neighbors in technology but could catch up quickly.
A technology boom might be the last thing that overseas investors would predict from Cambodia. For the past few years, foreign direct investment has rushed into agriculture, tourism, mining and garment-making industries, but not yet the IT industry.
As ASEAN’s (Association of Southeast Asian Nations) second poorest country by per capita GDP, Cambodia is widely considered to be a country striving to develop its basic infrastructure at the current stage. Its technology sector lacks sufficient skilled talents or customers who are sensitive enough about new technologies to create demand.
According to The Phnom Penh Post, a draft national policy on science, technology and innovation suggests that for every 1 million people, Cambodia has only 56 people involved in science and technology. In comparison, its neighbor Vietnam has 508 and even Myanmar, the poorest member of ASEAN, has 100.
July 2, 2013
The Rose City Condominiums in the capital’s Chamkarmon district in 2011. Construction on the four towers finished last year.
Reposted from Phnom Penh Post
By Anne Renzenbrink
A mid global economic fragility, foreign direct investment (FDI) in Cambodia grew a whopping 73 per cent in 2012 from the year before, a huge increase helping to fuel a record-setting amount of money pouring into least developed countries, according to the United Nations Conference on Trade and Development.
Released at the end of last week, the UN group’s World Investment Report says that FDI in Cambodia reached almost $1.6 billion in 2012, compared with $902 million in 2011, an increase largely credited to businesses looking to invest in the inexpensive, labour-intensive garment and manufacturing industries, as well as rising production costs outside of Cambodia.
June 19, 2013
Reposted from Phnom Penh Post
By Hor Kimsay
Gambia’s recent announcement that it would ban rice imports in about three years to spur local demand will only have a small impact on Cambodia, which sends a portion of its annual output to the west African country and other nations on the continent, data shows.