Cambodian News

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 [...]

The economic downturn has begun hurting the US businesses of many Cambodian-Americans.
“The clients won’t come, if there are a lot of layoffs in their work,” U Makara, who runs a sushi restaurant in the state of Michigan, said recently. “Sushi food is kind of an expensive food.”
People who had come in to eat two or [...]

PHNOM PENH, Jan. 5 (Xinhua) — The National Bank of Cambodia (NBC) will carry out more reforms to strengthen the disclosure rules for banks for the sake of financial safety, national media said on Monday.
“The next areas of reform will encompass enhancing corporate governance and disclosure rules for banks,” said NBC governor Chea Chanto in [...]

PHNOM PENH: Cambodia’s economic growthv will slow to 4.9 percent next year amid the global financial crisis, less than half the country’s expansion pace of previous years, the World Bank said Wednesday.
“Cambodia, compared to many other countries in the region, is even more open to the external environment,” Stephane Guimbert, the World Bank’s senior economist [...]

Cambodia’s prime minister asked foreign donors Thursday to continue providing economic assistance despite the global financial crisis and promised the passage of an anti-corruption law.Speaking to donor representatives at the opening of a two-day meeting to coordinate assistance, Hun Sen said aid would be used for health care, education and other social improvements.
Cambodia is one [...]

Cambodia is facing increasing difficulties from the global financial crisis and an erosion of democratic principals, two opposition parties said Wednesday, producing a list of critiques for donors to consider ahead of an annual meeting Thursday.
The National Assembly minority, consisting of the Sam Rainsy and Human Rights parties, urged donors to consider four points ahead [...]

Opposition leader Sam Rainsy said Tuesday he was concerned Cambodians will face severe livelihood degradation in the wake of the global economic crisis.
“I say that because of the economic crisis and also because of the lack of country management in general,” he said. People were worse off than they were 15 or 20 years ago, [...]