Archive for the ‘Economic សេដ្ឋកិច្ច’ Category
PHNOM PENH, June 12 (Xinhua) — The Sihanoukville Autonomous Port, the kingdom’s largest shipping facility, has seen a 14 percent increase in cargo shipment in the first five months of this year thanks to growing business activities, a port senior official said Wednesday.
During January-May period this year, the state-owned port had received 112,200 twenty-foot-equivalent units, or TEUs (standard- sized containers), up 14 percent from 98,500 TEUs in the same period last year, according to the port’s statistics.
During the period, 419 ships had entered and left the port, up 5 percent compared with 400 ships in the same period last year.
“The growth is thanks to better economic situation in Cambodia and in the world,” the port’s director general Lou Kim Chhun said.
He said goods leaving Cambodia through the port were mostly garment and footwear products, and agricultural products, whilst cargo entering Cambodia via the port were consuming products, autos, construction materials, machinery, steel, steam coal, and petroleum.
The port was expected to list on Cambodian Security Exchange later this year, he said.
PHNOM PENH, June 13 (Xinhua) — Cambodia has eyed to become a precious stone and jewelry hub in Southeast Asia region in the near future, Minister of Commerce Cham Prasidh said Thursday.
Speaking at the opening of the 5th international gems and jewelry fair here, the minister said that with the fast growing market of over 14 million populations, Cambodia has emerged as one of the most attractive and fastest growing economies in the region.
“Gems and jewelry industry apart from being one of the key trade promotional areas of Cambodia, it is also an industry playing important roles for tourist attractions,” he said.
“Gems and jewelry fairs have been positioned as the most important sourcing platforms in Cambodia, and the country plans to be the prominent gem and jewelry market supplier in Southeast Asia region in the near future.”
He said with the many tax preferential or tax-free treatments extended to Cambodia as one of the Least Developed Countries by many developed nations including the United States, gems and jewelry traders around the region might move their bases to Cambodia to take advantages of their reduced tariffs on imports.
Besides, he said, Cambodia was admitted as a member of the Kimberley Process on November 30, 2012 in Washington D.C., the United States.
The Kimberley Process (KP) is a joint governments, industry and civil society initiative to stem the flow of conflict diamonds– rough diamonds used by rebel movements to finance wars against legitimate governments. As of November 2012, the KP has 54 participants, representing 80 countries and regions, according to its website.
“As a member of the Kimberley Process, Cambodia will be able to obtain significant advantages to win legal trust in such industry, and be able to attract major investors to establish diamond-cutting factories in Cambodia,” Cham Prasidh said.
He said the gem and jewelry industry would create tens of thousands of jobs for the people, enabling them to acquire specific skills in cutting diamonds, as well as opening Cambodian market to the European Community, the United States and in other countries.
The impoverished country launched its first gem and jewelry laboratory in May last year under the joint venture with the London-based Intertek Company.
The laboratory is a venue to provide quality assurances, product testing, inspection and certification to ensure that all jewelry products sold in Cambodia are of specified quality and standard.
The 4-day fair, opened on Thursday at the Diamond Island Exhibition Center, brought together 78 exhibitors, mostly from Cambodia, Thailand, China’s Hong Kong, and Singapore, Cham Prasidh said.
An exhibitor from Hong Kong said the fair was a good opportunity for his company to seek new customers in Cambodia.
“This is the first time our company displays gem and diamond products here. There are a lot people coming here and they know a lot of jewelry. Hopefully, we can meet some new customers,” Isipro Ibasco, manager of Christelle Limited, told Xinhua.
Local exhibitors said the fair was a chance to promote their shops and also helped the government in promoting gem and jewelry industry.
“My company has joined such event every year, and I hope that the sales this year will be better than that of last year,” San Cheng Hak, manager of Cheng Hak Gems and Diamonds Co., said. “At our shop, all jewelry products are made in Cambodia, but some precious stones and diamonds are imported.”
More than 8,000 hectares of land was cut from economic and forest land concessions owned by some of the country’s biggest tycoons and awarded to villagers last month, according to documents from the Council of Ministers.
Four sub-decrees signed by Prime Minister Hun Sen order that land from four high-profile disputed areas be divided among nearly 3,500 families in four provinces.
The land is from controversial concessions in Pursat, Stung Treng, Siem Reap and Preah Sihanouk provinces — each of which has been involved in long-standing land disputes.
Nearly 2,000 families in Stung Treng’s Thala Barivat district were awarded 3,553 hectares from concessions granted to Pheapimex Fuchang.
The company, owned by Choeng Sopheap, the wife of ruling-party senator Lao Meng Khin, has repeatedly found itself at the centre of land disputes
involving hundreds of thousands of hectares across several provinces.
In Siem Reap’s Chi Kraeng district, 196 families have been given 1,090 hectares from a concession owned by Kain Co Ltd. In May, 2012, families wrote directly to the premier, seeking intervention in their dispute with the rubber company.
In Pursat’s Veal Veng district, 311 hectares of land inside the Phnom Samkus wildlife sanctuary, along with 2,977 hectares owned by MDS Import Export, was awarded to 835 families. The latter is carved from a 4,373 hectare economic land concession owned by MDS Import Export Co, Ltd, which has been locked in a long-standing land dispute with hundreds of families, who maintain the company has illegally grabbed their land.
And 305 families living in Preah Sihanouk were given 411 hectares in Prey Nop district that formerly belonged to businessman Mong Reththy.
The re-assignment follows months of land demarcation undertaken by cadastral officials working for provincial land management committees on behalf of Hun Sen’s large-scale land-titling initiative.
In May, amid mounting pressure, the premier issued a moratorium on economic land concessions and called for a reexamination of existing concessions.
A month later, he ordered provincial authorities across the country to demarcate land as part of a titling scheme intended to impact millions. (Though wide-reaching, the former initiative has come under fire, with observers noting that a loophole in the moratorium has given the go-ahead to an unknown number of ELCs already in the pipeline at the time of the ban.)
Mong Reththy, chairman of the eponymous Mong Reththy Group, said he supported the sub-decree, and noted that the land awarded was just a fraction of his concession, which totals more than 11,000 hectares.
“The land cutting has a small impact on my company, but it doesn’t matter, because it benefits the residents who farm their lands, and I will continue to invest my land,” he said.
Lim Leang Se, deputy chief of Hun Sen’s cabinet, declined to comment on the sub-decrees signed by the premier, and referred questions to the Ministry of Land Management, Urban Planning and Construction. Ministry spokesman Beng Hong Socheat Khemro could not be contacted yesterday. Further details on the ELCs could not be obtained from the listing hosted on the Ministry of Agriculture’s website, as the page had been breeched by a pro-Taliban hacker.
Senior investigator for rights group Adhoc, Chan Soveth, said the carving of these concessions was a step in the right direction, but urged that more focus be paid to areas in dispute, noting that much of the land demarcation thus far has addressed only non-disputed territory.
“The action of the government can reduce land disputes, but [in order to do so], the government should focus on land disputes,” said Soveth.
PHNOM PENH, Jan. 21 (Xinhua) — Garment Manufacturers Association of Cambodia (GMAC) on Monday agreed to increase salaries for the workers in the kingdom’s garment and footwear industries, according to a press release after a closed door meeting.
The meeting was attended by Minister of Social Affairs Ith Samheng, Minister of Labor Vong Sauth, GMAC’s president Van Sou Ieng, and representatives of trade unions in Cambodia.
“The meeting agreed in principle to discuss wage increase for the workers,” the press release said. “All trade unions should meet among them to set a unanimous proposal on minimum pay rise for workers in order to negotiate with employers.”
It said the International Labor Organization would be a coordinator for this task.
According to the press release, all relevant parties will meet again on Feb. 26 in order to decide the minimum pay rise.
The wage hike negotiation was made after trade unions repeatedly appealed to the government to urge manufacturers to increase salaries for the workers from the year 2013.
“Currently, minimum wage for a worker is 61 U.S. dollars a month. It is very low when prices of food and fuel are rocketing up, so it severely affects workers’ living conditions,” Chea Mony, president of Free Trade Union of Workers, which is the kingdom’s largest trade union, wrote in a request to the GMAC’s president Van Sou Ieng earlier this month.
“To facilitate workers’ difficulties, I’d like to ask the president to discuss and increase the minimum wage for a worker to 120 U.S. dollars a month,” he said.
Garment industry is Cambodia’s largest foreign exchange earner. The sector comprises more than 300 factories, employing some 335, 400 workers–91 percent of them are female.
The country exported garment and textile products in equivalent to 4.6 billion U.S. dollars last year, up 8 percent year-on-year, according to a report of the commerce ministry last week.
The United States and European countries are the major buyers, and other clients are Canada, Japan, South Korea and China.
PHNOM PENH, Jan. 6 (Xinhua) — The national flag carrier, Cambodia Angkor Air (CAA), added a new passenger plane on Sunday in order to expand new flight destinations to countries in the region, said a senior government official.
“The new Airbus 321 plane is leased from an Airbus manufacturer in France,” Tek Rethsamrach, secretary of state at the Council of Ministers and CAA’s president, told reporters at a new plane welcoming ceremony at the Phnom Penh International Airport on Sunday.
“The plane will be used to operate to key international destinations including Phnom Penh-Hanoi, Phnom Penh-Bangkok, and soon, we will expand flights to Guangzhou City in China’s Guangdong province, China’s Hong Kong and Singapore,” he said.
In the future, the CAA will also consider flying to one of India’s cities, he added.
Those destinations have great potential for Cambodia’s tourism, and the country has more active trade and investment relations with those countries and regions, he said.
To date, the CAA has two ATR-72 aircraft and three Airbus 321 aircraft, and has operated several international flights including Phnom Penh-Ho Chi Minh City, Siem Reap-Ho Chi Minh City, Siem Reap- Hanoi, Phnom Penh-Hanoi, and Siem Reap-Bangkok.
CAA officially launched operations in July 2009. It is a joint venture between the Cambodian government, which owns 51 percent of the stake, and Vietnam Airlines, which holds the remaining stake.
PHNOM PENH, Jan. 3 (Xinhua) — Cambodia has greeted some 3.2 million foreigners in the first eleven months of 2012, up 24 percent compared with 2.58 million visitors in the same period a year earlier, showed the latest statistics of Tourism Ministry on Thursday.
From January to November last year, Vietnam topped the chart among the top ten arrivals to the country with 699,650 visitors, up 24 percent year-on-year, followed by South Korea with 367,950 visitors, up 21 percent, and China with 297,920, up 35 percent, the report said.
It added that its neighbors — Laos and Thailand — ranked No. 4 and 5 respectively. About 225,020 Laotians and 177,320 Thais visited Cambodia during the period, up 95 percent and 75 percent respectively.
According to the report, 48 percent of visitors came to Cambodia by air, 50 percent by overland ways and the rest by waterway.
The report also said that during the period, around 726,220 Cambodians traveled overseas, up 13 percent year-on-year.
Tourism is one of the four pillars supporting Cambodian economy. In 2011, the sector attracted 2.88 million foreign tourists, earning 1.91 billion U.S. dollars.
A 22-Storey Hotel To Be Built on Diamond Island … by Sok An partner,Overseas Chinese Investors in Cambodia
This guy collected his bloody property liability insurance benefits from the victims of Koh Pich stampede to build new hotel
13-12-2012 (AKP)The Toyoko Inn Co., Ltd. of Japan in cooperation with Overseas Cambodia Investment Corporation (OCIC), a local company, will build a 22-storey hotel called Toyoko Inn on Koh Pich (Diamond Island), Phnom Penh.
The groundbreaking ceremony for the new hotel construction was held yesterday under the presidency of H.E. Im Chhun Lim, Minister of Land Management, Urban Planning and Construction.
The construction of this 305-room hotel is expected to complete in November 2014.
By CHEA Vannak
PHNOM PENH, Dec. 13 (Xinhua) — The United Nations Development Program and Cambodian Ministry of Industry, Mines and Energy on Thursday jointly held a workshop on Sustainable Energy for All ( SE4All) in order to discuss the future of sustainable energy in Cambodia.
The workshop, opened by Suy Sem, Minister of Industry, Mines and Energy, and UN Resident Coordinator Douglas Broderick, was attended by 80 people from various ministries, development partners, non-governmental organizations and civil society.
Speaking at the event, Suy Sem said that energy sector was very vital to contribute to social and economic development.
He added that the government has set a specific goal to provide all villages with electricity of any type by the year 2020 and at least 70 percent of households will be able to access to grid quality electricity by 2030.
“To achieve this target, we need to increase investment in energy sector and promote the efficiency of energy,” he said.
He said that currently, Cambodia has consumed the electricity of about 635 megawatts including 400 megawatts in Phnom Penh.
The main sources of the electricity are from diesel-fueled generators, hydropower dams and coal plants besides purchasing from its neighboring Vietnam, Laos and Thailand.
Douglas Broderick said the UN General Assembly declared 2012 the International Year of SE4All. As of Sept. 2012, 63 countries including Cambodia have joined the SE4All initiative.
He said that progress in energy access was very important to contribute to reducing poverty and achieving sustainable development.
U.S. District Judge told lawyers that jurors appeared to miscalculate damages when it found that 26 of Samsung’s smartphones and tablets were built with technology owned by Apple.
7-12-2012 (AP) San Jose,CA-A federal judge appears ready to reduce a $1.05 billion jury verdict Apple Inc. won over Samsung Electronics.
During a hearing Thursday in a San Jose federal courtroom, U.S. District Judge Lucy Koh told lawyers for both companies that jurors appeared to miscalculate damages and she was inclined to trim the award.
Koh didn’t specify how much of the award she might cut, saying she would rule later on a host of legal demands made by both companies.
A jury in August found 26 of Samsung’s smartphones and computer tablets were built with technology owned by Apple.
Samsung is seeking a new trial while Apple is arguing for an increase in the damage award. Koh said she would issue several rulings in the coming weeks.