Economy and commerce
Trade
Start-up for refinery construction
Construction of phase one of a landmark $3 billion oil refining plant kicks off today in Sihanoukville province, after many delays since the company announced plans in December 2012. Cambodian Petrochemical Company (CPC) formed a joint venture with China Perfect Machinery Industry Corp (Sinomach) for ...
Weather index-based insurance project to cover crop damage
A weather index-based crop insurance is going to be introduced as pilot projects in Pyay township, Bago Region and Shwebo township, Sagaing Region, starting from May 8. According to the Ministry of Agriculture, Livestock and Irrigation deputy permanent secretary U Myo Tint Tun, the insurance ...
VN lacks tools to net pyramid sharks
Viet Nam lacks the legal wherewithal to deal comprehensively with dubious multilevel marketing companies operating in the country, officials say. While a crackdown on pyramid schemes by the Vietnam Competition Authority has made some headway, authorities are unable to exercise due control over the multilevel ...
Private sector sees export growth rising by up to 3.5 per cent
A peak grouping of private-sector financial organisations has raised its forecast for this year’s export growth to 2-3.5 per cent amid a pick-up in the global economy. But the Joint Standing Committee on Commerce, Industry and Banking warns that uncertainties over the trade policies of the ...
Local silk industry seeks Chinese support
More than 20 local silk companies and producers are seeking the support of Chinese silk experts, in the form of joint ventures, to help them raise silkworms and cultivate mulberry trees. The companies made this call at a business matching event with representatives from the ...
CRF urges millers to pay up
The Cambodia Rice Federation will hold a meeting with milled rice exporters tomorrow to enforce the payment of fees for the federation’s operations. The meeting comes amid criticism from exporters that the CRF had done nothing to boost their exports and seek new markets. Hun Lak, ...
Inquiry afoot after sand shipping video goes viral
The Ministry of Mines and Energy on May 2 said it was investigating potential irregularities in the export of sand after a video from the NGO Mother Nature claiming that banned exports continued unabated went viral yesterday, racking up hundreds of thousands of “likes”. While the ...
Rice millers balk at export fees
Numerous members of the Cambodia Rice Federation, the body tasked with lobbying on the sectors behalf, have stopped paying membership dues and export fees, claiming that they cannot afford to as the industry continues to struggle with high production costs and regional export competition. According ...
Illicit trade costs millions
Illicit financial flows in and out of Cambodia starved the Kingdom of at least $360 million in lost taxes annually between 2005 and 2014, according to a new report. The US-based nonprofit Global Financial Integrity measured illicit financial flows – the illegal movement of money ...
Thailand primed for region gateway role
Prime Minister Prayut Chan-o-cha told the gathering of World Travel and Tourism Council members in Bangkok last week that the country’s strategy is called “Thailand Plus One”, under which Bangkok is positioned as a gateway for trade, investment and tourism in the region. The focus is ...
