Business
Cambodia inaugurates 1st ethanol factory to produce bio-fuel
PONGNEA LEU, Cambodia, Nov. 17 (Xinhua) – Cambodia opened its first ethanol factory to generate bio-fuel from cassava flour here on Monday.
“This is the first ethanol factory in Cambodia and it will become the market place of cassava product for local farmers,” Prime Minister Hun Sen said at the opening ceremony [...]
Cambodia, Vietnam to build processing plant to boost trade
PHNOM PENH, Nov. 12 (Xinhua) – Cambodia and Vietnam have agreed to build a new industrial processing factory aimed at boosting the two countries’ agricultural exports, national media reported Wednesday.
The factory will promote cooperation between the two largely agricultural countries and raise quality standards on export goods such as beans, corn, palm [...]
Cambodia to host ministerial trade conference of least developed countries
PHNOM PENH, Nov. 13 (Xinhua) — Cambodia will host a meeting of ministers of industry and commerce from around 49 of the world’s poorest countries described as “least developed” on Nov. 19-20 in Siem Reap province to discuss issues related to international trade, a press release said Thursday.
The conference aims to search [...]
Cambodia ‘Not Immune’ to Global Crisis: IMF
Cambodia’s economic growth rate will be slashed by more than half compared to 2007, as a financial slowdown continues to plague world markets, the International Monetary Fund said Friday.
Cambodia’s economic growth rate will be around 6.5 percent for 2008 and will decrease to 4.25 percent next year, the IMF said, reporting findings of a visit [...]
Cambodian gov’t rejects IMF s gloomy economic report
PHNOM PENH, Nov. 10 (Xinhua) – Cambodian government officials have rebuffed a gloomy economic forecast by the International Monetary Fund (IMF), saying the Kingdom’s predicted growth slowdown would not be as dire as the world body suggests, national media reported Monday.
At the culmination of a two-week mission Friday, the IMF announced that [...]
Cambodia vows economic growth at 7%
Cambodian Prime Minister Hun Sen said yesterday he was committed to maintaining annual economic growth of seven percent, after warnings that the country’s red-hot economy would soon slow.Hun Sen, addressing crowds at Independence Day celebrations, vowed to maintain high GDP growth despite the global financial slowdown, and said the government was committed to reducing poverty [...]
Local Banks Boosting Their Deposit Rates
Cambodia’s large commercial banks have begun competing with each other by raising deposit rates, with the annual rate at several banks rising to 8 percent in November, a record high.
Experts say the annual deposit rate was as low as 5 percent prior to the global financial crisis, which saw a tightening of credit among lenders [...]
Mega-Projects Stall Amid Financial Woes
In September, before the globe slipped into a financial crisis, developers in Cambodia had planned at least 30 colossal construction projects, including a giant modern city, and buildings with as many as 20 to 50 floors.
But after the US housing market crashed and global markets plummeted, many projects, especially the biggest ones, have been delayed.
South [...]
Backgrounder: Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit
HANOI, Nov. 6 (Xinhua) – The 4th Summit of Cambodia, Laos, Myanmar and Vietnam (CLMV) will open on Thursday in Hanoi, Vietnam.
The CLMV Summit is an annual event. The first CLMV Summit was held in November 2004 in Vientiane, Laos, with the adoption of the Vientiane Declaration on enhancing economic cooperation and integration among CLMV [...]
Cassava Prices Fall Hard in Kratie Province
Farmers of the cassava tuber in Kratie province have seen prices cut more than half this year, and some of them have vowed to stop growing it.
Prices for fresh cassava fell from 200 riel per kilogram to 80 rile per kilogram, but farmers say they don’t know why. There is virtually no market for dried [...]
