Cambodia lost nearly 100 factories and 40,000 jobs last year in the wake of the global financial crisis, a government official said Monday, though some other factories have since opened and put more people to work.
“The ministry noticed that from January through November 2009, garment and shoe factories, in total 93, have been closed,” Om [...]
Annual Conference Addresses Garment Woes
Cambodia Wants Tax-Free Exports to US: Minister
[Editor’s note: Last month, the International Finance Corporation invited Commerce Minister Cham Prasidh to its offices in Washington, to celebrate the 10th anniversary of preferential trade agreements between Cambodia and the US. On his visit, Cham Prasidh testified before the Trade Subcommittee for the US House of Representatives’ Committee on Ways and Means. He also [...]
More Than 60,000 Out of Factory Work
Factory woes in the wake of the global downturn have put 62,000 Cambodians out of work, World Bank President Robert Zoellick said Thursday.
Zoellick was addressing an annual meeting between World Bank and International Monetary Fund officials in Turkey. Nearly 50 factories have closed since the downturn began more than a year ago, in Cambodia’s chief [...]
Textile, apparel industry wants sops only for a few months
NEW DELHI: Amidst the spectrum of industry facing bad times, this is the odd one out. The textile and apparel industry has refused to be cowed
down by the global meltdown and is, in fact, viewing an opportunity at a time when everyone is into cost cutting.
Representatives of the textile and apparel industry, employing nearly 35 [...]
Garment Orders Plummet as Factories Close
The global economic downturn has led to a drop in orders for Cambodia’s garment industry by nearly a third, a worrying statistic, industry leaders said Monday.
The economic downturn, which has hit the US—Cambodia’s top purchases of garments—as well as the EU and Asia, resulted in the fall of orders by 30 percent, along with lower [...]