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Mekong countries discuss measures to boost region's development
Leaders of the five Mekong countries discussed measures to promote cooperation and make the region more dynamic and competitive at the two summits that convened in Hanoi on October 26. The capital is hosting both the 8th Cambodia-Laos-Myanmar-Vietnam Summit and the 7th Ayeyawady-Chao Phraya-Mekong Economic Cooperation ...
Govt seeks to increase bank deposits to 84 percent of GDP
The government has announced its intention to increase deposits in commercial banks to 84 percent of Gross Domestic Product by 2020, up from the 57 percent expected in 2016, in a bid to meet growing development needs. Governor of the Bank of the Lao PDR, Mr. ...
Trade deal to reduce tariffs with Vietnam
Cambodia and Vietnam inked an agreement on October 26 to drop import tariffs on dozens of products in an effort to boost bilateral trade. Cambodian Commerce Minister Pan Sorasak signed a memorandum of understanding with Vietnamese Minister of Trade and Industry Tran Tuan Anh ahead of the ...
PM: harness the Mekong region's economic power
The Greater Mekong Sub-region has the potential to become a major global production center due to its favorable geographical location and its proximity to economic powerhouses in both Southeast and South Asia, Prime Minister Hun Sen said on October 25. Speaking in Hanoi at the opening ...
Govt asks parliament to lower growth targets
On October 24, the government asked the National Assembly to lower economic growth targets over the next four years after encountering difficulties that resulted in failure to meet the target set for last fiscal year. Prime Minister Thongloun Sisoulith presented the proposal at the second ordinary ...
Gov’t eyes million-tonne rice quota deal with Indonesia
Cambodia is close to signing an ambitious agreement with the Indonesian government that would pave the way for the Kingdom’s rice producers to export 1 million tonnes of rice under a new quota scheme, a state official said on October 24. Soeng Sophary, spokesperson for the ...
Construction, consultancy firms sign on for Laos-China railway
Five Chinese construction companies and six consultancy firms have been selected for engagement in the Laos-China Railway Project, with construction expected to start in December. Agreements with the companies were signed in Vientiane on October 24 in the presence of Vientiane Mayor Dr Bounchan Sinthavong, Chinese Ambassador ...
Deputy PM greets US business council official
Deputy Prime Minister Phạm Bình Minh has suggested the US-based Business Council for International Understanding endorse the early ratification and implementation of the Trans-Pacific Partnership agreement and help Việt Nam carry out the pact effectively. Minh, who is also Foreign Minister, met with Peter Tichansky, President ...
Myanmar weighs merits of India bean agreement
India is playing hardball with Myanmar’s beans and pulses sector, pushing for a per-tonne deal that falls well short of domestic market rates. Assistant director of the Ministry of Commerce U Khin Maung Lwin confirmed that Myanmar and India are locked in negotiations over a proposed ...
Rice harvest prompts wary sales
The government will pause its efforts to dispose of state rice stocks to curb any adverse impact on domestic rice prices as the latest harvest enters the market. According to Duangporn Rodphaya, director-general of the Foreign Trade Department, with the annual rice harvest season beginning ...
