Cambodia is planning to receive one million international tourists via the sea route by 2027 and will strengthen the Southern Tourism Corridor (STC) Cooperation as well, said Thong Rathasak, Director General of Tourism Development and International Cooperation of the Ministry of Tourism, recently. The STC is participated by Thailand, Vietnam, Myanmar and Cambodia. Talking to…
Cambodia gross domestic product, GDP will expand to 6.3 per cent this year, higher than growth projections made by the World Bank, the International Monetary Fund and the Asian Development Bank, according to forecasts by global rating agency S&P, which expects credit growth in Cambodia’s private sector to continue averaging a brisk 20 per cent…
Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, is expanding its business in Southeast Asia by acquiring Coca-Cola’s bottling business in Cambodia and Vietnam. The acquisition is Swire Coca-Cola’s first investments in the region which will give the company a leading position in one of the world’s fastest growing beverage markets….
Sok Sithika / Khmer Times The $1.5 billion port is expected to be a major artery for Cambodia’s maritime transport. MPWT A large international deep-sea port in Kampot province has officially opened its construction site. The $1.5 billion Kampot port is expected to be a major artery for Cambodia’s maritime transport. The ground-breaking ceremony for…
Prime Minister Hun Sen, Head of the Royal Government has instructed the Ministry of Public Works and Transport to study the feasibility of improving the existing railway system in Cambodia into a high-speed railway. This is according to Sun Chanthol, Minister of Public Works and Transport, while leading a youth delegation of the Ministry of…
As farmers continue to develop intuitive ways to diversify and increase their revenue streams, the field of ‘Agritourism’ is one that is growing in both supply and demand. The relatively new sector is expected to rise from over $7.5 billion in 2019 to $11.6 billion by 2025, a compound annual growth rate of 11.9 percent…
Gains in exports and increased foreign direct investment (FDI) are expected to drive Cambodia gross domestic product (GDP) growth by 5.3 per cent this year and expand to 6.5 per cent in 2023, based on Asian Development Bank’s (ADB) latest prediction. According to its 2022 Asian Development Outlook, industrial production will rise 8.1 per cent…
The government has agreed in principle to a 1,400MW hydropower dam in Stung Treng province to be built jointly by local conglomerate Royal Group of Companies Ltd and China (Cambodia) Rich International Co Ltd. According to a letter from Royal Group of Companies chairman Kith Meng to Stung Treng provincial governor Svay Sam Eang obtained…
The largest temperature-controlled cold storage and cross-docking facility in Cambodia – which will be able to handle up to 25 per cent of the Kingdom’s total requirements – has broken ground in Kandal province. The Kandal Cold Storage project, which had its groundbreaking ceremony on March 22 in Kien Svay district, was funded by Private…
Vietnam has asked the government of Cambodia to expand a shipping navigation route between its Phu Quoc island, Sihanoukville and Thailand as part of a coastal shipping lane cooperation deal previously agreed by the two countries and Cambodia. The request was made at a meeting between Phan Chi Thanh, the Vietnamese ambassador to Thailand, and…
The Ascott Limited launched its first Citadines Flatiron Apart’hotel in Phnom Penh, Cambodia on March 15. Citadines Flatiron Phnom Penh sits right in the middle of Phnom Penh City Centre, within Flatiron by Meridian, a 41-storey mixed-use integrated development, with Grade A office towers and retail components. The Apart’hotel welcomed its first resident and invited…
Vietnam plans to strengthen and expand aquaculture cooperation with Cambodia, and provide the Kingdom with modern technology in a bid to spur development in the sector, according to the Ministry of Agriculture, Forestry and Fisheries. At a working meeting with agriculture minister Veng Sakhon last week, Vietnamese ambassador Nguyen Huy Tang contended that his country’s…
Phnom Penh, Cambodia is set to welcome it’s first ibis budget hotel in July, developed by French multinational hospitality group Accor, the company said in a statement posted on travmedia.com on February 24. The first Cambodia ibis budget Phnom Penh Riverside will be located in Chamkarmon district “a short walk away” from Koh Pich island,…
A bill authorising the ratification of the Cambodia – Korea Free Trade Agreement (CK-FTA) has been promulgated into law, moving the two Asian nations into the final stretch for the enactment of the deal, which is expected to unlock billions in bilateral trade and investment. The bill sailed through the National Assembly on December 29,…
Wang Wentian, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Cambodia, said that if the process goes smoothly as planned, the Phnom Penh-Sihanoukville Expressway project could be completed in June 2022. He made the remarks at a handover ceremony of 231 cases of Covid-19 traditional Chinese medicine weighing 1,125 kilograms to Deputy…
During the ASEAN Tourism Forum 2022 in Sihanoukville, Thong Khon, Minister of Tourism of Cambodia and Sandiaga Salahudin Uno, Minister of Tourism and Innovation of Indonesia inked a memorandum of understanding to boost tourism cooperation, especially to promote direct flight connections between the two countries. The signing ceremony was also witnessed by the head of…
PHNOM PENH, Jan 20 (Xinhua): Cambodia has inaugurated a US$1.2 million new tourist port in the seaside city of Kep, aiming at attracting more foreign tourists to the southwestern Kep province in the post-Covid-19 era, said a transport ministry’s news release. Speaking at the event, Cambodian Transport Minister Sun Chanthol said the port, built on…
Aeon, a Japanese retailer, plans to build a 30,000-square-meter logistics center in Sihanoukville, Cambodia in 2023 to provide import storage, customs clearance, and cross-border online retail support. Cambodia plans to develop a part of the special economic zone as a free trade port with the support of the Government of Japan and the Japan International…
Jin Yu Tang (Cambodia) Fishery Co Ltd plans to splash out an unspecified amount on “marine fish aquaculture in submerged cages”, on Cambodia’s Sihanoukville province islands of Koh Dek Koul and Koh Thas, according to Minister of Agriculture, Forestry and Fisheries Veng Sakhon on January 11. The minister wrote in a Facebook post that he…
AEON Mall (Cambodia) Co Ltd’s first “multifunctional logistics business hub” is set to break ground early next month and start operations next year, in a special economic zone (SEZ) near Sihanoukville Autonomous Port (PAS), according to a port source with knowledge of the matter. The shopping mall developer and operator has leased a plot of…
Construction on Kampot International Tourism Port – a 4ha quay in Teuk Chhou district about 6km west of Kampot town – has fallen off track, reaching 90 per cent completion, according to a senior Ministry of Tourism official last week. The project is now planned to be finished by March 31, more than four months…
Long Dimanche, Deputy Governor of Preah Sihanouk Province, and Tu Xiaogang Du Xiaogang, Party Secretary of the Chinese Communist Party Committee in Wuxi, on December 17, chaired an online meeting on promoting regional development. Sihanoukville Special Economic Zone 2.0 (SSEZ), which is up 40% in value. Xiaogang, said that the video meeting was to determine…
The Prime Minister of Cambodia Hun Sen has confirmed that Cambodia will examine the possibility of developing existing railways into high-speed railways and expanding railway connections to other potential provinces to reduce traffic accidents and increase transportation capacity. The new railway, which is planned to be built is to connect the existing railway in Poipet…
A new floating eco-tourism port is in the pipeline for northern Sihanoukville province’s Trapaing Kea village, on the Prek Kampong Smach canal upstream from Veal Rinh Bay, according to provincial authorities. In expectation of a marked upswing in national and international tourists in the near future as Covid lets up, provincial officials have welcomed the…
PHNOM PENH, Dec. 12 (Xinhua) — Nearly 71 percent of the construction work on the Chinese-invested Phnom Penh-Sihanoukville Expressway has been completed despite the COVID-19 pandemic, the Cambodian Ministry of Public Works and Transport (MPWT) said in a news release on Sunday. MPWT’s secretary of state Yit Bunna visited the construction site in southwestern Kampong…
From 2022, Cambodia will rollout the expansion of the sea port at Sihanoukville province to reduce sea transport cost and attract more foreign direct investments. The plan was shared recently with the media by Lou Kimchhun, Director General of Sihanoukville Autonomous Port, adding that the sea port expansion will entail three main stages. According to…
PM Hun Sen said more than $320 million was spent on the construction of infrastructure in Sihanoukville province to improve Cambodia’s image and be the driver of economic growth for the nation. He made the remarks in a speech given at the inaugural ceremony for 37 newly completed roads and three wastewater treatment stations in…
Continent Assets Management Co., Ltd, PLMP Venture Capital Co., Ltd, PropNex Cambodia Co., Ltd and Ly Ly Kampong Seila Special Economic Zone Co., Ltd signed a memorandum of understanding (MOU) on November 17th 2021, to join strategic cooperation in designing new investment companies for fintech hub projects in Sihanoukville City under the honorable presences of Governor Kuoch…
Phnom Penh and Beijing have agreed to bring the major bilateral Cambodia-China Free Trade Agreement (CC-FTA) into force in January, and renewed a pledge to boost trade to $10 billion per annum, according to Prime Minister Hun Sen. The prime minister made the remark on November 15 at a virtual meeting with his Chinese counterpart…
South Korean ambassador to Cambodia Park Heung-kyeong is highly optimistic that the new Cambodian investment law and free trade agreement (FTA) signed between the two countries would be important factors in enhancing bilateral trade and encouraging more direct investment flows from South Korea to the Kingdom. The ambassador made the remark on November 16 at…
PHNOM PENH: Prime Minister Hun Sen has announced that Cambodia ends the quarantine requirement for all fully vaccinated people who enter the country. This was announced by the prime minister on the afternoon of November 14 who added that this is applicable to all travelers, except those who have not been vaccinated who will have…
Hong Lai Huat wholly-owned subsidiary HLH Development (HLHD) has agreed to co-develop an 11.5-hectare (ha) site in Sihanoukville, Cambodia with the site’s land owner Smart Winner, announced the group in a bourse filing on Monday (Nov 1). This marks the group’s fourth mixed-use development project in Cambodia as well as its second foray into Sihanoukville…
The Cambodia government is working to transform Sihanoukville province, also known as Preah Sihanouk province, into a multi-purpose special economic zone (SEZ) after the province received the designation earlier this year. On June 9, 2021, Cambodia Prime Minister Hun Sen signed a sub-decree that will make Sihanoukville province a multi-purpose SEZ. The designation stands to…
Cambodia is on course to be the next Asian Tiger, and that is good news for America. Ford Motors recently announced that it is building a $21 million assembly plant in the Pursat province of Cambodia. And the recent virtual business summit showcased the ease of doing business in Cambodia experienced by U.S. companies in…
CBRE Cambodia senior manager Kim Kinkesa told The Post on October 27 that the Cambodia retail rental market has been in steady decline since the global outbreak of Covid-19 early last year. The launch of three new retail centres in the third quarter of this year has brought the total retail space in the capital…
Cambodia will add 495MW of solar power capacity from seven projects by 2023, which will represent “20 per cent” of the total energy supply by then, as the world looks to harness the sun as a key source of renewable electric power in the fight against climate change, according to a senior energy official on…
In a bid to quickly reopen the country to international tourists, Cambodia will implement a sandbox scheme to allow quarantine-free visits for those who are fully-vaccinated to Sihanoukville, Koh Rong island and the Dara Sakor Resort in Koh Kong province from November 30. The Quarantine Free Safe Tourism package will apply to tourists who book…
The Cambodia-South Korea Free Trade Agreement (CK FTA) is set to be signed on October 26, ushering in a new chapter that will open up fresh avenues in trade and investment between the two Asian nations, according to a senior Ministry of Commerce official. Cambodia Ministry undersecretary of state Pen Sovicheat told The Post on…
The Ministry of Economy and Finance has awarded a master plan consultancy contract to a top Chinese institute for the development and transformation of Preah Sihanouk province into a “Model Multi-Purpose Special Economic Zone”, Southeast Asia’s next logistics and resort hub and innovation centre. The master plan will serve as a key roadmap to develop…
Kampot International Tourism Port – slated to be completed by end-2021 – will become an international maritime gateway, a vital component in the national transportation system, and an important magnet for national and international tourists, according to Minister of Tourism Thong Khon. The minister made the remark on September 29 during an inspection of the…
As Cambodia and the rest of the world move to revive tourism, Pan Pacific Hotels Group (PPHG), a member of Singapore-listed UOL Group Ltd, plans to open two hotels in Cambodia over October-December 2023, in Phnom Penh and Siem Reap. The hospitality player is expanding its global brand footprint in an apparent bid to bank…
Minister of Commerce Pan Sorasak plans to lead a delegation to South Korea next month to have signed the Cambodia-Korea Free Trade Agreement (FTA), if the Covid-19 situation permits, according to a senior official. Many observers share the opinion that the East Asian economy will outstrip most rivals as buyers of Cambodian merchandise once the…
The real estate market of Sihanoukville province is beginning to show more positive signs after a subdued period, following a double whammy shock of an exodus of Chinese nationals in the wake of an online gambling ban, and then the Covid-19 crisis, observers have said. In a bid to develop the Kingdom’s largest coastal province…
The value of imports and exports passing through the Sihanoukville Special Economic Zone (SEZ) reached $1.373 billion in the first eight months of 2021, an increase of 44.37 per cent year-on-year, the operator reported. Using an earlier report as reference, this means the imports and exports that passed through the industrial zone last month alone…
PHNOM PENH, Sept. 12 (Xinhua) — Visiting China State Councilor and Foreign Minister Wang Yi and Cambodia Deputy Prime Minister and Foreign Minister Prak Sokhonn agreed here on Sunday to further enhance bilateral cooperation between their two countries. During a meeting with Prak Sokhonn, Wang said that he and Sokhonn have met face to face…
Big C Supercenter Plc plans to increase investment to expand its retail store business in Cambodia over the next five years. “With our five-year plan, we aim to become the No.1 retailer in Cambodia in terms of value, size and perception among Cambodian customers,” said Gary Hardy, chief operating officer. Mr Hardy said the company…
Cambodia is reportedly keen to set up a new joint team with the Eurasian Economic Union (EAEU) to push a more detailed examination of the possibility of formally launching free trade agreement (FTA) talks with the bloc soon, and add impetus to underwhelming bilateral trade ties. The initiative had been raised at the 3rd Joint…
With Phnom Penh on track to become the most vaccinated city in Southeast Asia, moves are afoot within Cambodia to open tourism and to open of borders for fully vaccinated international travelers by November this year. The Cambodian tourism ministry recently announced that fully vaccinated international tourists with proof of their inoculation could be allowed…
IRVING, Texas, Aug. 30, 2021 The first 7-Eleven store in Cambodia is set to open Monday, Aug. 30, in Phnom Penh, the bustling capital city of the Southeast Asian country. Residents and tourists alike now can enjoy the world’s largest retailer’s unique style of convenience, signature food and drinks, as well as products and…
The arrival of yet another international pizza brand in Phnom Penh suggests a looming war for market share is cooking. Pizza, whether corporate, Khmer-influenced or classically Italian, is a favourite food among both Cambodia’s young and the expat community and there is increasingly no shortage of businesses after their tastebuds. Anthony Galliano, American Chamber of…
The prolonged spread of Covid-19 continues to dismantle the Cambodian restaurant industry. New research from the Cambodia Restaurant Association (CRA) shows that sales have been decimated by the pandemic, dropping 50 per cent last year over 2019 and now 60 per cent lower than 2020 levels. This represents a cumulative 80 per cent drop of…
Cambodia aquaculture production could experience marginal declines this year as discouraging prices and other market forces prompt farmers to reduce the amount of juvenile fish used to stock their ponds, or go as far as to temporarily halt operations, according to the Cambodian Aquaculturist Association (CAA). Chet Phirum, co-founder of CAA, which now boasts more…
Local food chain corporation United Food Group Co Ltd (UFG) has brought the US-based fast-food chain Pizza Hut to Cambodia and is set to open its first shop this month, reflecting the ongoing expansion of US businesses into the Kingdom. A subsidiary of New York-listed Yum! Brands Inc, Pizza Hut has the advantage of best-practice…
According to the Ministry of Public Works and Transport of Cambodia, the construction of the Phnom Penh (PP)-Sihanoukville Expressway is progressing smoothly and to date, the project has achieved 63% in terms of overall completion. After the completion of the above expressway project, the journey from PP to Sihanoukville is estimated to take only 2…
While Southeast Asia becomes embattled by the Delta variant of Covid-19 this summer, Cambodia’s people have cause to stay optimistic in a bright future. Cambodia has spent more than $1 billion to combat COVID-19, and herd immunity could be achieved by October, 2021. The tourism centers of Sihanoukville and Siem Reap are likely to evolve…
Cambodia and China are committed to increasing bilateral trade to $10 billion by 2023, from $8 billion last year, according to a senior official at the Cambodian Ministry of Commerce. The pledge was made at the Second Cambodia-China Think Tank High-Level Forum, held on July 28 in Chinese capital Beijing in a mixed online and…
Prime Road Alternative (Cambodia) Co Ltd will soon break ground on a 60MW solar power farm in southwestern Kampong Chhnang province valued at $37.4 million. Provincial Department of Mines and Energy director Uk Ros told The Post on July 28 that the project would be built over a year and a half in Teuk Phos…
The Cambodian government’s relentless push to improve the Kingdom’s logistics infrastructure got another boost this week with officials committing to build 11 new roads for Sihanoukville. Already, the province is set to benefit from the 190 kilometre-long, $2 billion Phnom Penh-Sihanoukville Expressway due to be completed next year. Earlier in 2021, the government completed a…
The Covid-19 pandemic has rocked the retail landscape in Phnom Penh, with anxiety around infection risk keeping the masses away from shopping malls and driving retail consumption down by nearly five per cent in the first half of this year, compared to July-December 2020, according to a report by real estate company CBRE Cambodia. Last…
The government has decided to relocate the venue for the ASEAN Tourism Forum 2022 (ATF 2022), which was originally scheduled to take place in Phnom Penh on January 16-22, to Sihanoukville, according to a letter from the Council of Ministers. The letter, signed by the Council’s permanent secretary of state Hing Thoraksy on July 8,…
PHNOM PENH — In early June, nine women in red gowns held platters of mangoes as Cambodian and Chinese dignitaries cut a red ribbon strung between the piles of tropical fruit grown by farmers in Cambodia to celebrate new trade items sent to China. Concluded with the release of balloons, the ceremony at a wholesale…
The Cambodian Ministry of Commerce expects the ratification of the bilateral Cambodia China Free Trade Agreement (FTA) by the National Assembly “soon”. Cambodia hopes that the trade deal will widen the Kingdom’s export market, especially agricultural products, ministry spokesman Seang Thay told The Post on July 5. The CCFTA was signed by Cambodian Minister of…
Sihanoukville was once a city that drove both local and international headlines. Considered the next hot property investment destination, Sihanoukville continued development as a prime residential, commercial, retail, and up until 2019, gambling hub in Southeast Asia. The city was the microcosm of Cambodia’s rapid development in the past decade. Sihanoukville, a once-sleepy beach town…
Ream City development, is a new ‘city within a city that is rising from an 834-hectare plot of reclaimed land in Sihanoukville, Cambodia located along the coast of the Gulf of Thailand. The $16 billion project led by the Cambodian property development company Canopy Sands, is one of the largest real estate investments in the…
Cambodia and China have agreed to boost transport development cooperation. The Kingdom has sought assistance from China in human resources development of infrastructure skills. The agreement was made during a virtual meeting held yesterday between the Senior Minister and Minister of Public Works and Transport Sun Chanthol and his Chinese counterpart Li Xiaopeng. Chanthol briefed…
Cambodian Minister of Public Works and Transport Sun Chanthol said the construction of the Chinese-invested Phnom Penh-Sihanoukville Expressway has gone full steam ahead despite the Covid-19 pandemic. It is expected to be completed ahead of schedule. Invested in by China Road and Bridge Corp (CRBC), the $2 billion expressway will connect the capital city of…
World Bank on June 17 forecast Cambodia economic GDP growth to accelerate to 4.0% this year after contracting 3.1 per cent in 2020, thanks to a fast rollout of Covid-19 vaccines and the revitalisation of global demand. However, the Washington-based multilateral lender also offers a downside scenario, in which the jab drive loses too much…
PROPERTY developer Hong Lai Huat Group will design, build and operate a mixed-use agriculture hub development in Cambodia, with a total land size of about 10,000 hectares, estimated to be about one-seventh the size of Singapore. The mainboard-listed group has received official approval from the Cambodian government to convert its existing agricultural land in Aoral…
Although the economic crisis unleashed by Covid-19 has driven large international trade declines, Cambodia-US trade seems to have largely eluded the clutches of the pandemic wobbles, worth $2.6549 billion in January-April, an increase of 24.48 per cent over the $2.1327 booked in the same period of 2020. Of that, the Kingdom exported $2.5192 billion, up…
SPC Group is launching the Paris Baguette bakery franchise in Cambodia, opening the first branch in the country‘s capital city, the company said Wednesday. According to SPC Group, the Korean firm behind bakery brand Paris Baguette, it forged ties with Cambodia’s HSC Group to open the first Paris Baguette store in Phnom Penh. Cambodia is…
Senior Minister and Minister of Public Works and Transport Chanthol inspected the progress of the construction of National Road 146B and National Road 148, both of which are scheduled to be completed by August, 2022. The Senior Minister also inspected the automatic concrete mixer, which can be produce enough materials to build 500 meters per…
The construction of the nearly $2 billion Phnom Penh-Sihanoukville Expressway is 51% complete and is expected to be finished in 2023, according to Ministry of Public Works and Transport secretary of state Vasim Sorya. Invested in by Cambodian PPSHV Expressway Co Ltd, the first expressway in Cambodia will boast a total length of 190.3km and…
French-owned The Blue Circle’s 80MW wind power investment project in Kampot province has hit an impasse, as its proposed $0.068 per kWh tariff rate for the national grid exceeds what state-run energy supplier Electricite du Cambodge (EdC) is willing to pay, according to a Ministry of Mines and Energy senior official. The Blue Circle specialises…
China has arranged a deal for Cambodia to export about 500,000 tons of fresh mango to the country, according to reports. After more than three years of negotiation, the Cambodian Ministry of Agriculture, Forestry, and Fisheries and the General Administration of Customs of China officially accepted 37 companies with mango farm and five companies with…
Despite the current COVID-induced economic slump, Cambodia still represents an attractive market for several sectors, among them, United States franchises, which could start popping up in the Kingdom as early as 2022. Robert Jones, a consultant for Edwards Global Services, who represented three US brands poised to bring their products to the Kingdom at a…
The private sector experienced a wave of renewed optimism that mango would become a valuable agro-industrial export and prove particularly attractive to investors, after Cambodia on May 7 shipped around 100 tonnes of fresh mango to China, in the Kingdom’s inaugural direct export of the fruit to the East Asian market. The official export came…
Sihanoukville provincial authority and private sector has welcomed a $50 million investment in a new five-star hotel, which observers note will better equip the province to serve tourist arrivals in the years to come. The Council for the Development of Cambodia (CDC) on May 5 gave JinBei Palace Co Ltd the nod for its 195-room…
The government has reaffirmed its stringent stance over the smuggling of aquaculture products into the Kingdom as a means to sustain local production. The confirmation came after a handful of calls were made by the Cambodian Aquaculturist Association (CAA) over recent weeks concerning illegal imports. A spokesman for the Ministry of Economy and Finance has…
International Limited has announced all casino operations in the Banteay Meanchey province have been temporarily suspended from 27 April 2021 to comply with the order from Cambodia local authorities to for closure of all casinos in the area. The company’s casino, Star Vegas (pictured), halted its operations until further notice to prevent the outbreak of…
The nighttime lockdown curfew in Cambodia’s capital city, Phnom Penh (pictured), host of the NagaWorld casino resort, has been again extended by the local authorities for another week, to May 5. Such curfew was first introduced on April 1 as a countermeasure against the further spread of Covid-19, and was due to last until April…
Hong Lai Huat Group’s subsidiary HLH Agriculture (Cambodia) Co. has entered into a non-binding memorandum of understanding (MOU) with China Machinery Engineering Corporation (CMEC) for a solar farm project in Cambodia. Pursuant to the MOU, Hong Lai Huat and Hong Kong-listed CMEC will form a special purpose vehicle (SPV) to develop and operate a 200…
China has allowed Cambodia exports of fresh mangoes directly to its market after Chinese Customs on April 26 certified 37 mango plantations and five packaging factories as compliant with phytosanitary and packaging standards. The approval came after experts from the General Administration of Customs of the People’s Republic of China (GACC) in Guangxi province on…
Malaysian-based WA Hospitality will be making its foray into Sihanoukville with the opening of the 300-key Won Majestic Casino Hotel & Resort Cambodia come 1Q2022. Located steps from the picturesque Sokha beach, the property will feature luxury suites and studio rooms, a swimming pool, gym, three restaurants, guest lounge and a casino. WA Hospitality had…
Once considered a luxury, avocados have become part of Americans’ everyday diet. Now, Mission Produce (AVO), one of the world’s largest avocado distributors, wants to do the same for another fruit — mangos. The Oxnard, Calif.-based company’s founder and CEO Steve Barnard tells Yahoo Finance Live that the mango industry is ripe for a leader…
Prolonged stress from the Covid-19 epidemic crushed Phnom Penh’s retail market over the first quarter of this year in terms of rental prices, occupancy rates and consumer spending, a new report obtained by The Post on April 7 revealed. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group…
International Monetary Fund (IMF) managing director Kristalina Georgieva on April 7 said the Cambodian economy is expected to grow 4.2 per cent this year, following a 3.5 per cent contraction in 2020, but cautioned that local governments around the world should proceed with prudential policies and proactive management. Kristalina made the comment at the opening…
LOUISVILLE, Ky.–(BUSINESS WIRE)–Papa John’s International, Inc. (NASDAQ: PZZA) continues to expand its global presence with 15 new restaurants set to open in Cambodia over the next three years. The flagship store in Phnom Penh opened in late March. “We are very excited to bring Papa John’s global brand to Cambodia. Papa John’s Cambodia’s team is…
The freshwater and marine fish catch in the first quarter of the year was 960,000 tonnes, indicating a drop for all types of fish compared to the same period last year. The Ministry of Agriculture, Forestry and Fisheries’ report released on April 5 stated that freshwater fisheries along the Tonle Sap river yielded 1,310 tonnes,…
Boncafé (Cambodia) Ltd and Tianle Food Global Co Ltd on Thursday signed a memorandum of understanding (MoU) to offer high quality beverages such as coffee and Italian Sodas at Papa John’s first outlet in Sangkat Chroy Chongva. Under the MoU, Boncafé Cambodia, the supplier of coffee equipment and beverage ingredients, will support Papa John’s expansion…
President of the Cambodian Aquaculturist Association (CAA) has requested that relevant ministries find a solution to the more than 20,000 tonnes of aquaculture fish left unsold as imports flood the market. CAA president Sok Raden said his 270-household-strong association have been devastated by a lack of interest from traders in their products, with many members…
The capital city is facing a surge in vacant retail space, a figure that has been expanding over time but with the onslaught of food delivery apps and e-commerce, and the ongoing risk of Covid-19, how will it all pan out? A while ago, businesses started to disappear from WB Arena, a sprawling $10 million…
The governor of Preah Sihanouk, Kuoch Chamroeun, has granted permission for three hotspots in Sihanoukville, Cambodia, including Jin Bei Casino and Hotel, to resume normal operations. All three branches of Jin Bei Hotel as well as Jin Bei Casino and Hotel were closed down in late February after two positive cases of COVID-19 among Chinese…
An evaluation process undertaken to determine whether fresh mango exports can meet China’s rigorous health standards is now complete, according to Agriculture Minister Veng Sakhon. The process, which was conducted at three mango farms and four water heat treatment (WHT) and vapour heat treatment (VHT) plants in Cambodia, was overseen by both customs officials from…
Prospects of a formal initiation of free trade agreement (FTA) talks with the Eurasian Economic Union (EAEU) and Camobida have improved as early talks witness an increasingly positive sentiment, according to Cambodia’s Ministry of Commerce spokesman Seang Thay. Comprising five member states – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia – the EAEU is home to…
Cambodia exported a total of 1,599,922.37 tonnes of major non-milled-rice agricultural products in the first two months of this year, an increase of 569,493.88 tonnes or 55.27 per cent compared to the same period in 2020, according to Minister of Agriculture, Forestry and Fisheries Veng Sakhon. The ministry listed 43 such products on the roster…
Reports of government approval for what could become the Kingdom’s first pulp and paper mill in Kampot province’s Teuk Chhou district have galvanised investment hopes and instilled a renewed sense of opportunity in the southwestern coastal province. Last month, the Council for the Development of Cambodia (CDC) agreed to issue a final registration certificate for…
TEALIVE, the lifestyle tea brand in South-East Asia, is set to venture into Cambodia as brand owner Loob Holding Sdn Bhd has inked a master franchise agreement with a unit of HSC Group of Cambodia to set up 25 Tealive outlets in five years. Cambodia will be the eighth market for the Tealive franchise after…
Chinese officials have pledged to bolster Cambodia’s railway infrastructure, according to local media reports. National news agency Agence Kampuchea Press (AKP) reported yesterday that an agreement was made following Preah Sihanouk Provincial Governor Kuoch Chamroeun’s request for Chinese aid in developing the province’s railroad infrastructure. Cambodia’s existing 264 kilometre-long Southern Line connects the coastal city…
PARSIPPANY, N.J., Feb. 18, 2021 /PRNewswire/ — Wyndham Hotels & Resorts, the world’s largest hotel franchising company and leading provider of hotel management services with over 8,900 hotels across nearly 95 countries on six continents, has opened its first hotel in Cambodia, the Howard Johnson Plaza by Wyndham Blue Bay Sihanoukville, a brand new landmark on…
Moving into 2021, hospitality company Banyan Tree Group is set to continue with its global expansion. The company has signed 20 hotel management agreements in 2020, adding to its pipeline of 35 properties opening over the next 3 years. “Our robust momentum in business development and pipeline of new openings this year will continue to…
PHNOM PENH, CAMBODIA — Cambodia has resumed the import of four species of fish from Vietnam after they objected to a ban placed on all farmed fish imports across the border last month. The Agriculture Ministry decided to allow the import of four farmed fish species: pangasius djambal, pangasius larnaudii, catfish, and giant snakehead fish….
Canopy Sands Development, a member of Prince Holding Group has approved a masterplan for Ream City developed by Surbana Jurong Group, a global urban, infrastructure and managed services consultancy headquartered in Singapore. The masterplan specifies a land use plan for the 834-hectare project requiring total investments estimated at $16 billion, and will be developed on…
With five free trade agreements (FTAs) on the docket this year, Cambodia is bolstering its logistics network in anticipation of the deals. To that end, last month the Prime Minister approved the immediate upgrade of the Stung Bot, Bavet and Poipet checkpoints. Sopheavatey Sorn, director of logistics at the Ministry of Public Works and Transport,…
Canopy Sands Development Co Ltd, a member of Prince Holding Group, one of Cambodia’s largest and fastest growing conglomerates, approved a master plan to develop Preah Sihanouk province’s Ream bay into the $16 billion Ream City. The masterplan specifies a land use plan for the 834ha project, which will be developed on reclaimed land and…
Cambodia and South Korea on February 3 concluded talks for a bilateral free trade agreement (FTA), which Minister of Commerce Pan Sorasak and his Korean counterpart Yoo Myung-hee plan to sign in mid-2021, setting zero tariffs for a broad range of goods, according to a joint press statement. The two ministers signed the agreed minutes…
The Sihanoukville Special Economic Zone (SSEZ) has reported export growth of 26.52 percent in 2020, a significant achievement in light of the COVID-19 pandemic. The value of goods exported from the SSEZ was $1.556 billion, according to the report obtained by Khmer Times on Friday. The zone’s main products are clothes, electronic devices, bags, construction…
The Fisheries Administration under the Ministry of Agriculture, Forestry and Fisheries will close fishing for short mackerel in Cambodian waters from January 15 to March 31 this year, according to an announcement seen by The Post on January 10. It said the reason for the closure is the onset of the short mackerel’s spawning season…
INTERNATIONAL REPORT—Hotel activity is on the rise in Southeast Asia with two signings in Vietnam and an opening in Cambodia. IHG expands Crowne Plaza brand in Central Vietnam InterContinental Hotels Group (IHG) has signed a management agreement with Minh Dong Travel Service and Trading Company Limited—a member of PGT Group—to open the second Crowne Plaza…
Bangchak Corporation (BCP), a mostly state-owned energy firm, is planning to increase its Inthanin coffee houses overseas to grow its non-oil business after the pandemic calms down. BCP chief marketing officer and senior executive vice-president Somchai Tejavanija said the company will start with 3-5 new cafes in Laos. Inthanin Coffee claims to be environmentally friendly,…
The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on January 10. He defined a “travel bubble” as a…
The part in relation to Cambodia under the ASEAN-Hong Kong free trade agreement (FTA) and Investment Agreement (IA) is set to take effect on February 12, according to Hong Kong’s Trade and Industry Department. The Kingdom will be last country in which the two agreements enter into the force, following Indonesia on July 4 and…
According to an announcement from China’s General Administration of Customs, China granted import permission for 10 new fruit items in 2020, representing a slight decrease from the previous year. The approved fruit items include Argentinian and Chilean citrus; Brazilian melons; Cambodian mangos; Dominican avocados; Indonesian dragon fruit; U.S. avocados, blueberries and nectarines; and Zambian blueberries….
With the recent release of the Google e-Conomy SEA 2020 Report on investment trends in Southeast Asia, investors are cautious, yet optimistic, about the financing scene. One example of continued growth is in Vietnam. While already burgeoning in 2019 with $362.5 billion USD in investments, the country has remained relatively stable with funding in the…
From January to Dec. 15, 2020, Cambodia has exported some 945,274 tonnes of fresh mangoes to foreign markets, with an estimated total value of some $473,207,700. The figures were shared in a preliminary report on the progress of major agro-industrial crop production in 2020, by Veng Sakhon, Minister of Agriculture, Forestry and Fisheries. The report…
Provincial fisheries officials have said the development of crab banks in community fisheries has gradually boosted marine crab output. Crab banks are where pregnant crabs are stored until their attached eggs hatch. Members of fisheries communities who catch pregnant crabs are obliged to sell them to the crab banks. Once hatched, the zoea larvae are…
Fish from the Mekong and Tonle Sap rivers cannot feed all Cambodians as the number of the population grows. Cambodian people will partly depend on raised fish from Vietnam and in Cambodia. Near Prek Pnov market, while fish vendors buy grown fish to sell at other markets, some fish farmers come to buy fry also…
A 34-road infrastructure project in Preah Sihanouk province has completed initial construction of concrete roadways and drainage systems and is on schedule to be entirely finished in the first half of next year. Provincial hall spokesman Kheang Phearum told The Post on December 28 that 98 per cent of light poles had been installed as…
Cambodia exported 8.55 million tonnes of its six most profitable agro-industrial crops, through formal and informal channels, worth more than $2.32 billion this year as of December 15, according to Minister of Agriculture, Forestry and Fisheries Veng Sakhon. In a December 24 post on his official Facebook page, the minister listed the crops as cassava,…
Minister of Economy and Finance Aun Pornmoniroth said the government welcomed investments worth €80 million ($97 million) from the European Investment Bank (EIB) for the Irrigated Agriculture Improvement Project (IAIP) in Cambodia. He regarded this project as a crucial step towards improving living conditions and agricultural production in the country. The Asian Development Bank (ADB),…
Cambodian Keo Romiet mangoes remain on target to be directly exported to the Chinese market from early next year after the economic powerhouse penned an agreement in June that set up a 500,000 tonne quota for the Kingdom’s widely-available fruit. Minister of Agriculture, Forestry and Fisheries Veng Sakhon told The Post on December 22 that…
The Ministry of Agriculture, Forestry and Fisheries has established the Aquaculture Promotion Cambodia Committee to facilitate the production and business activities of the Cambodian Aquaculturist Association (CAA), to increase production capacity for domestic supply and export. Ministry secretary of state Has Sareth is helming the chairman seat. The committee must coordinate the production and business…
Bilateral trade between the Kingdom and the US amounted to $5.8 billion in the first 10 months of this year, up $972.8 million or 15.9 per cent over the $5 billion registered in the same period last year, data from the US Census Bureau show. This comes amid Covid-19’s continued assault on the world’s largest…
The Council for the Development of Cambodia (CDC) on December 4 announced that it had issued a final registration certificate for Inter-Mattrid Beverage (Cambodia) Co Ltd’s $78 million brewery/beverage plant. The CDC noted that the facility is located in Dei Ith commune’s Sdao Kanleng II village in Kandal province’s eastern Kien Svay district and is…
Iran has voiced an interest in buying Cambodian agricultural products for domestic consumption and re-export, Cambodian ambassador to Thailand Ouk Sorphorn told The Post on December 3. The remark comes after Sorphorn met Iranian ambassador to Thailand Seyed Reza Nobakhti that morning. “The Iranian ambassador told me that Iran wants to buy milled rice, mango…
Cambodia and Russia are planning a joint feasibility study on a potential free trade agreement (FTA) aiming to reinforce trade and investment ties between the two countries and offset lacklustre import/export figures exacerbated by Covid-19. Ministry of Commerce secretary of state Sok Sopheak said this on December 1 when he led a ministerial delegation to…
Cambodia’s real estate sector is set to bounce back at a blistering pace after this year’s Covid-19 slowdown in growth, according to newly-appointed Century 21 Cambodia chairman Richard W Davidson. Davidson, a 30-year real estate veteran and industry thought leader, spent more than 10 years working as president and CEO of US-based global iconic brand…
King Norodom Sihamoni has promulgated a long-awaited gambling law that aims to create jobs, boost the economy and bolster tourism as well as establish safeguards against money laundering and corruption. The law, which will dictate how casinos and gambling operators conduct business, has 12 chapters and 97 articles. It was passed by the National Assembly…
For over a decade, billions of dollars have poured into the construction and real estate sectors, which until last year was not regulated. A year later, the law has yet to take effect, mired by jurisdiction overlaps, slow-to-enact supporting regulations, and apathy. Despite the lack of safety and hard labour, scores of rural Cambodians have…
Cambodia and South Korea on November 18 kicked off the fourth round of negotiations on a bilateral free trade agreement (FTA), which is expected to boost bilateral trade and investment once it enters into force. Ministry of Commerce spokesman Seang Thay told The Post that the talks would conclude two days later on November 20….
The Regional Comprehensive Economic Partnership agreement (RCEP) was signed on Sunday by 15 countries including China, Japan, Australia, Vietnam, South Korea, and Cambodia jointly covering a total population of more than 2.3 billion people – five times the size of the European Union. “The agreement could help revive post-COVID economic growth, boost intra-regional trade and…
Hong Kong-listed NagaCorp Ltd, the parent company of local casino operator NagaWorld Ltd, on November 15 announced plans to develop a $350 million non-gaming integrated resort (IR) in Siem Reap province. The industry term IR is used to describe a large-scale resort complex that comprise tourism and conference amenities and often feature casinos and other…
The Sihanoukville Special Economic Zone (SSEZ), will be a key driver in bilateral trade between Cambodia and China, reaching $10 billion in 2023, and could prove to be a bellwether in boosting trade activities with other countries in the region and globally, according to Deputy Prime Minister Hor Namhong. Namhong said that the SSEZ enjoys…
At least three Chinese companies are investing in industrial steaming equipment to use in the phytosanitary treatment of agricultural products for export, Minister of Agriculture, Forestry and Fisheries Veng Sakhon told The Post on Monday. This comes in response to the Chinese government’s June 9 official approval of the export of 500,000 tonnes of Cambodian…
The construction of the more than $1.9 billion Phnom Penh-Sihanoukville Expressway has not been delayed despite the Covid-19 pandemic, with more than 26 per cent of the project completed and expected to finish in about two years, according to Ministry of Public Works and Transport secretary of state Vasim Sorya. The first expressway in Cambodia…
A visceral hit of merriment captured Cambodia’s trade and investment sector as the leaders of 15 Asia-Pacific nations signed the blockbuster Regional Comprehensive Economic Partnership (RCEP) trade pact on Sunday. Insiders voiced their enthusiasm for the agreement which they say will allow the Kingdom to expand trade and attract more investment from signatory countries. Leaders…
The 10 member states of the Association of Southeast Asian Nations (ASEAN) are on the cusp of a tremendous leap forward in socio-economic progress and their growth will be propelled by four mega-forces, including favourable demographics, rising income levels, geopolitical shifts and digital tailwinds, according to the World Economic Forum (WEF). The WEF has identified…
Two planned frontier markets in Svay Rieng and Kampot provinces have yet to break ground, relevant provincial authorities said on Tuesday. Prime Minister Hun Sen has ordered the Ministry of Commerce to work with Svay Rieng and Kampot officials to build two additional border markets in a bid to shore up border trade and enhance…
The once dormant Cambodian gaming capital of Sihanoukville is returning with a modernized model for the times that appears prepared to create added steady revenue flow for Cambodia. Recent History Originally arising from a construction boom backed primarily by Chinese investors, Sihanoukville developed into a resort of palm-fringed beaches with no regard for urban planning,…
Sihanoukville, Cambodia’s dominant coastal province – is positioned for future growth as the country’s principal gateway onto the 21st Century Maritime Silk Road and global trade routes. It is set to be modelled after the high successful Shenzen development master plan which turned backwaters near the Hong Kong border into a bustling metropolis. Urban planning…
The agricultural and agribusiness industry are in great spirits after the Kingdom signed a memorandum of understanding (MoU) with Hungary on cooperation in the sector. The MoU is expected to provide a shot in the arm for agricultural exports and allure more Hungarian investors to the Kingdom. “The signing of the MoU will bring about…
Russian ambassador to Cambodia Anatoly Borovik and Minister of Economy and Finance Aun Pornmoniroth meet at the ministry on Wednesday. FINANCE MINISTRY Russia has reiterated its commitment towards shoring up bilateral trade volume and alluring more investment to Cambodia, helping pull the Kingdom’s economy out of post-Covid-19 doldrums. This comes as the Kingdom negotiates a…
The National Assembly on Monday approved the First Protocol to Amend the Agreement on Comprehensive Economic Partnership among Japan and Member States of the Association of Southeast Asian Nations (AJCEP – 1st Protocol). Cambodia expects to expand its market to Japan and woo more investors from the economic powerhouse of the Pacific through the perks…
The US$1.34 billion Botum Sakor coal plant will have a generating capacity of 700 megawatts (MW) and be built by the Cambodian Royal Group and Sinosteel Equipment and Engineering Company, a subsidiary of China’s state-owned Sinosteel Corporation. Botum Sakor is one of two coal plants Cambodia’s government has approved this year in response to severe…
The Habit Burger Grill will open its newest international location in Cambodia on Wednesday, October 21. The California-based restaurant company renowned for its award-winning Charburgers grilled over an open flame, signature sandwiches, fresh-cut salads and more, announced the highly anticipated opening in the center of Phnom Penh, at the Tela Toul Kork Station. This marks…
Hyatt has appointed renowned hospitality professional Herman Kemp as general manager of Hyatt Regency Phnom Penh, the largest internationally branded hotel in the heart of Cambodia’s capital. A Dutch national with extensive experience in Southeast Asia, Kemp will oversee the pre-opening of the 247-room property, which will become the first Hyatt Regency hotel in Cambodia…
The Regional Comprehensive Economic Partnership (RCEP) is set to be signed next month at the 4th RCEP Summit during the 37th ASEAN Summit in Vietnam in mid-November, Cambodian Minister of Commerce Pan Sorasak said on Sunday. Experts said the deal will open a wealth of new market opportunities for Cambodia to diversify its export portfolio…
A senior executive officer of Cambodian rice-crackers manufacturer Lyly Food Industry Co Ltd has said the company will build a special economic zone (SEZ) in Sihanoukville province and plans to launch it next year. She said Kampong Seila SEZ is around 79 hectares for setting up factories and industries. “We plan to launch the SEZ…
In the IMF’s recently-released World Economic Outlook, Cambodia’s economy is forecast to shrink 2.8 percent this year, much higher than the 1.5 percent contraction forecast for Indonesia. Amid the COVID-19 pandemic, deeper contractions of 8.3 percent are forecast for the Philippines, 7.1 percent for Thailand and 6.0 percent for both Malaysia and Singapore. Meanwhile, Myanmar…
The coastal city of Sihanoukville has recently undergone a $294 million restoration and expansion project of 34 roads, making it more accessible, clean and ready for the return of tourism. In November last year, the government, with the attendance of Prime Minister Hun Sen, began the work, spanning 82 kilometres. A key issue in Sihanoukville…
Cambodia and China on Monday signed a bilateral free trade agreement (FTA) following three rounds of negotiations held between January and July. The two countries hope that goods exchange and investment flows will pick up steam as the new deal guarantees tariff-free access for Cambodian commodities to the Kingdom’s largest export market. Seang Thay, a…
Cambodia Airports said it completed the runway expansion and renovation at Sihanouk International Airport on Tuesday as part of its post-Covid-19 era business expansion plans. It extended the 2,500m runway by 800m, reinforced the current airstrip and installed an LED airfield lighting system to reduce its carbon footprint, it said in a statement. The runway…
Cambodia and South Korea have productively concluded the third round of negotiations on a bilateral free trade agreement (FTA), which is expected to boost bilateral trade and investment once it enters into force. Ministry of Commerce spokesman Seang Thay told The Post on Sunday that the talks concluded on Thursday. Korean ambassador to Cambodia Park…
State Councillor and Minister of Foreign Affairs of the People’s Republic of China, Wang Yi, arrived in Cambodia on Sunday for an official visit which will include a meeting with Prime Minister Hun Sen and other senior officials. Three documents will be signed, including the Cambodia-China Free Trade Agreement (CCFTA), the Exchange of Note for…
Cambodia and the Republic of Korea (ROK) have pledged to finalise their Free Trade Agreement (FTA) negotiations by the end of the year to increase trade and investment between the two countries. Minister of Economy and Finance Aun Pornmoniroth noted that the previous two rounds of bilateral free trade agreement negotiations between Cambodia and the…
The government is studying the possibility of a railway from Phnom Penh to Bavet town, the Cambodian-Vietnamese international border checkpoint. The project would contribute to better trade between the two countries, according to transportation sector insiders. Ministry of Public Works and Transport undersecretary of state Ly Borin told The Post on Monday a new railway…
The improvement project of National Road 3 that links Phnom Penh to Kampot province has now reached 89 percent. The project started in May 2018 and is estimated to cost approximately $219 million. The upgraded National Road 3 will also connect Cambodia’s natural tourist and coastal areas to Phnom Penh, the heart of the country….
Sihanoukville – A new luxury retail space opened its doors to consumers on 1 October 2020 after a three-year construction period. It is a shopping mall with five floors and an area of 50,000 square metres, which offers a stylish shopping experience to the customers in Sihanoukville. Prince Mall is now Sihanoukville’s premier shopping destination,…
A 30MW solar power station located in Pursat province’s eastern Krakor district has been connected to the national grid as it enters its testing and commissioning phase. The project is part of the government’s plan to boost the Kingdom’s clean-energy portfolio to 450MW by the end of 2022. Keo Rottanak, the director-general of State-run electricity…
The National Assembly’s 9th Committee on Monday unanimously approved the draft law on the ASEAN-Hong Kong Free Trade Agreement (AHKFTA). This paves the way for the government to continue the ratification process of the free trade agreement (FTA) in a bid to secure a new regional export market. In a press release issued following the…
Hanoi (VNA) – Cambodian Prime Minister Samdech Techo Hun Sen has shared his pride over the growing bilateral trade between Cambodia and the US despite the COVID-19 pandemic, saying that two-way trade saw an annual hike of 17 percent in the first eight months of this year. In order to attract more investors, especially when…
Cambodia and the UK have vowed to boost their bilateral trade as the Kingdom looks to establish a bilateral free trade agreement with the country. The understanding was made during a meeting between secretary of state of the Ministry of Commerce Sok Sopheak and deputy chief of mission at the British Embassy in Cambodia Marc…
The Kingdom’s first expressway project, built by state-owned China Road and Bridge Corp (CRBC) through its subsidiary Cambodia PPSHV Expressway Co Ltd, linking Phnom Penh to Sihanoukville, at a cost of roughly $1.9billion, is now about 30 percent of its 190 kilometres complete. Cambodia is also considering the construction of a Phnom Penh logistics centre…
Singapore-listed property development and agricultural investment firm Hong Lai Huat Group Ltd (HLH) on Monday reached a non-binding Memorandum of Understanding (MoU) with Denmark-based farm equipment supplier Skiold A/S. The two parties intend to collaborate on a proposed “Cambodia-Singapore Agriculture Special Economic Zone” with a $1 billion estimated investment value, HLH said in a filing…
Having harnessed the attention of residential investors for at least the last three years, Cambodia’s construction boom continues without any signs of dwindling. Until a slowdown evident over the last 12 months, developers had been particularly active in Cambodia’s condominium sector and CBRE sees signs of a resurgence in this side of the market. “The…
Hong Kong-listed NagaCorp Ltd, the parent company of local casino operator NagaWorld Ltd, has expressed an interest in developing integrated resorts (IRs) in areas of Siem Reap and Preah Sihanouk provinces. Siem Reap town is home to UNESCO World Heritage site Angkor Wat in Nokor Thom commune, just 6km north of the provincial capital’s downtown…
Minister of Agriculture, Forestry and Fisheries Veng Sakhon said a Chinese company was keen on investing in buying fresh fruits from Cambodia to process and package for export to the Chinese market. This comes following a Monday meeting held at the ministry between Sakhon and the company’s CEO Wang Bingnan to discuss investment plans in…
PHNOM PENH — Cambodia’s embrace of new coal power projects is making the Southeast Asian state “less attractive” to international brands producing in the country. In a letter addressed to the Cambodian government and seen by the Nikkei Asian Review, several major companies expressed concern about the country’s plans to nearly triple the amount of…
The agricultural industry is on track to account for 32 per cent of Cambodia’s gross domestic product (GDP) by the end of the year as more of the Kingdom’s workforce moves into the sector, Royal Academy of Cambodia economics researcher Ky Sereyvath has said. Without citing official figures, Sereyvath predicted that the agricultural labour force…
Cambodia exported a total of 2.68 million tonnes of agricultural products in the first seven months of this year, reflecting encouraging signs in the sector while tourism, garments and construction wither away amid Covid-19. The Ministry of Agriculture, Forestry and Fisheries reported that the Kingdom exported 49,937 tonnes of mangoes and its dehydrated products, 194,525…
The Supreme National Economic Council is collecting input on a plan to establish special agro-industry zones. Cambodia Chamber of Commerce vice-president Lim Heng told The Post on Sunday that the establishment of special zones for the agro-industrial sector would be an important part of agricultural diversification and promote the production and processing of domestic agricultural…
Sihanoukville Autonomous Port (PAS) plans to expand deep port terminal into phase II and phase III aiming to handle the container traffic at the port, as the traffic of containers are predicted to increase in the years to come. As planned, the port terminal will be expanded to 410 metre long and 16 metre deep,…
Cambodia and China wrapped up free trade agreement (FTA) talks on Monday, the Ministry of Commerce said. The deal is expected to propel bilateral trade to $10 billion by 2023, the Chinese embassy in Phnom Penh said. Once signed later this year, the deal will enable the liberalisation of trade in goods and services and…
Prime Minister Hun Sen has touted Cambodia’s “strong” agricultural sector as a solution to economic pressures during the global pandemic. In a speech at the Freshwater Aquaculture Research and Development Center in Prey Veng province’s Peam Ro district on Tuesday, Hun Sen said the government was preparing to further support the nation’s already strong agriculture…
Agriculture has been one of the core pillars of human existence and development over the millennia and, while it continues to serve that crucial role today, the industry faces bigger challenges by the day. The risks driven by climate change and, more recently, the effects of COVID-19, have contributed to declining produce outputs and farmers…
Cambodia is studying the possibility of establishing a bilateral free trade agreement (FTA) with India to open a new market with the second-largest regional economy. This comes as an FTA with China is scheduled to be signed next month while similar negotiations with South Korea have also started. Cambodian Chamber of Commerce vice-president Lim Heng…
Cambodia casinos will restart operations, the country’s Prime Minister, Hun Sen, confirmed on Friday. With operators now having an official green light by the government, estimated 200 casinos are expected to restart. The approval comes after the Ministry of Health has worked out the necessary safety measures to defer the spread of COVID-19 on the…
A 700 MW coal-fired power plant in Sihanoukville province is set to begin construction soon, as authorities announce they have completed an environmental and social impact review. The $1.3 billion project is developed by Cambodia International Investment Development Group Co Ltd (CIIDG), in coordination with partner Huadian Sihanoukville Power Generation Co Ltd. “The project will…
PHNOM PENH: Cambodia has re-opened its borders with Vietnam after banning cross-border movement more than three months ago due to the Covid-19 pandemic. The Khmer Times reports General Keo Vanthorn, deputy director at the Ministry of Interior’s Immigration Department, confirming the opening of the border, saying it would boost economic, investments and trade between the…
The Chinese investment company and mango exporter Cam MJ Agricultural Park Co Ltd is installing a packaging machine and industrial steaming equipment for pest control at its newest facility in Kampong Speu province. This comes following the Chinese government’s June 9 official approval of the export of 500,000 tonnes of Cambodian fresh mangoes per year…
US-based hardwood flooring manufacturer AHF Products has announced that it will fulfil its orders solely out of its Sihanoukville facility, and will cease operations in Shanghai, China, reported Hardwood Floors Magazine. Preah Sihanouk Provincial Hall spokesman Kheang Phearum told The Post that AHF Products, registered in Cambodia as Fine Flooring (Cambodia) Co Ltd, built its…
Almost six tonnes of fruits and vegetables from Vietnam were seized and destroyed by Customs and Excise officials in Kandal and Kampot provinces after they were found to contain harmful pesticides. Moung Dara, the chief of the mobile Customs and Excise team at the Chrey Thom international checkpoint located in Koh Thom district, told The…
The Kingdom’s coastal Sihanoukville, where Chinese nationals national dominated nearly a half of businesses before the COVID-19 outbreak, is seeing economic activity gradually rebound after Middle Kingdom’s investors and workers started to return to the province as pandemic fears ease. Preah Sihanouk provincial hall spokesman Kheang Phearum told Khmer Times that Since May 23 up…
South Korean officials have expressed their intention to sign a free trade agreement (FTA) with Cambodia next month to boost bilateral trade, news hailed by local businessmen. The Korea Herald quoted South Korea’s Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki as saying on Monday: “Since the proposal for an FTA with…
The coastal province of Preah Sihanouk – considered to be one of the Kingdom’s economic hubs and a southwest rising star of the country – will soon be home to six more special economic zones (SEZ). The additions will bring the total number of industrial parks in the province to 10, the provincial administration reported….
Investment continues to pour into Cambodia’s tourism sector and hospitality industry, setting an optimistic mood that the Kingdom will soon welcome back international visitors. The Council for the Development of Cambodia (CDC) has approved local company Sun and Moon Hotel Co Ltd’s $35.2 million four-star hotel project in Phnom Penh. The hotel will comprise 200…
Cambodian and Chinese investors have jointly invested about $8 million to build a fruit processing plant in Preah Sihanouk province. Preah Sihanouk Provincial Hall spokesman Kheang Phearum told The Post on Wednesday that Shang Da Jian Hui International Agriculture Product and Logistic Co Ltd is in the process of constructing a fruit processing plant for…
The Preah Sihanouk Provincial Administration has signed Memorandums of Understanding (MoUs) with 16 Chinese cities and provinces to promote investments in tourism, culture, education and sports between the province and China. Government spokesman Phay Siphan said Preah Sihanouk is a multi-purpose coastal province that the government believes has the potential to become a multi-purpose economic…
Cambodia reached an official agreement with China on Tuesday to export fresh mangoes in a milestone decision which will open a giant new market for local producers. The Chinese government officially approved the export of 500,000 tonnes of Cambodian fresh mangoes per year to the country, where total demand for mangoes stands at about eight…
An 80MW wind power investment project in Kampot province will be ready to deliver electricity as soon as the developer completes negotiating a power purchase agreement with state-run electricity supplier Electricite du Cambodge (EdC). Ministry of Mines and Energy spokesman Victor Jona on Sunday said the developer, The Blue Circle (Cambodia) Co Ltd, is a…
According to local media reports, Cambodia is accelerating its efforts to obtain market access to China for several of its agricultural products, with special priority being placed upon fresh mangos, longans, dragon fruit, coconuts, peppers and edible bird’s nests. Although the ongoing COVID-19 epidemic has brought some degree of inconvenience and uncertainty to these efforts,…
The government has high hopes that Sihanoukville will be the country’s first smart city and a magnet for foreign investment once coastal infrastructure development is completed. Prime Minister Hun Sen said during a meeting on Monday that with the construction of new roads and infrastructure equipped with smart lighting and security camera installations, which has…
PHNOM PENH — The National Bank of Cambodia announced on Friday a new plan to phase-out circulation of small-denominated U.S. dollar bills in the country’s highly-dollarized economy, creating some confusion among citizens if these bills had been banned outright. In a press release, the National Bank of Cambodia (NBC) said it would phase out the…
Demand for the Kingdom’s yellow bananas has surged since China authorised the export of the ubiquitous fruit last year. Cambodia’s minister of agriculture, forestry and fisheries, Veng Sakhon, said advances in agricultural technology, processing, packaging and exporting has helped boost yellow banana exports, which have increased significantly during the first five months of this year….
Prime Minister Hun Sen said the 34 roads and other infrastructure projects underway in Preah Sihanouk are preparing the province to be a model of sustainable development for Cambodia’s coastal areas and a special economic area that will attract tourists and foreign investors. He said this at a meeting with officials in charge of Preah…
With the ongoing coronavirus pandemic, coupled with an online gambling ban that went into effect on January 1, growth in the casino hotspot of Bavet town in Svay Rieng province has slowed down to a crawl. But on March 18, Vietnam suspended the entry of all foreigners into the country to curb the spread of…
Hong Kong’s Century Entertainment International Holdings Limited, formerly known as Amax International Holdings, has terminated a lease deal with Cambodia’s Crown Resorts Co Ltd to operate a VIP room at Genting Crown Casino in Poipet, Cambodia. The lease deal, which was due to expire in November, saw Century Entertainment run 13 VIP tables at Genting…
Phnom Penh (VNA) – Cambodia’s GDP growth is projected to drop 0.3 percent due to the impact of the COVID-19 pandemic and economic slowdowns in China, the EU and the US, Moody’s Investors Service has said. According to Moody’s Vice President and Senior Analyst Anushka Shah, Cambodia is particularly exposed to a slowdown in China…
The government has approved the construction of a $100 million five-star hotel in Preah Sihanouk province that officials say will be ready to welcome tourists once Covid-19 disappears. The Council for the Development of Cambodia (CDC) issued a final certificate of registration to Yong Wang (Cambodia) Co Ltd to build the 700-room establishment with a…
Cambodia expects exports of longan (Dimocarpus longan) from Pailin province to the international market, especially direct exports to China, to pick up once the once the Covid-19 outbreak tapers, provincial governor Thou Phea told The Post on Monday. Longan is a tropical evergreen tree species native to Asia that produces edible fruit. Phea said the…
The Preah Sihanouk provincial administration, led by the National Committee of Cambodia Coastal Management and Development, is bulldozing a coastal area in Bit Traing commune, Prey Nop district, to create a new public recreational beach named Chum Teav Mao Beach for national and international tourists to visit. Provincial tourism department director Taing Sochet Kresna told…
Cambodia’s fruit and vegetable market is trending up, providing an unparalleled opportunity for the Kingdom’s growers, who often lack buyers for their produce, said a study by French-based industry report search engine ReportLinker. In its study Cambodia Fruits and Vegetables Market – Growth, Trends, and Forecast (2020 – 2025) released last week, ReportLinker said the…
The Cambodia-China Free Trade Agreement is expected to be finalised next month. This comes as the Kingdom strives to develop a range of policies and strategies to boost international exports, and establish bilateral free trade agreements (FTAs) with countries around the world. Two other possible deals are in negotiations, South Korea and the Eurasian Economic…
IRVING, Texas — 7-Eleven Inc. has signed a master franchise agreement with CP ALL (Cambodia) Co. Ltd., an indirect subsidiary of CP ALL Public Co. Ltd., to develop and operate 7-Eleven stores in Cambodia. The companies expect the first Cambodian 7-Eleven-branded c-store will open in Phnom Penh in 2021. The master franchisee plans to build…
Cambodia exported more than $1.6 billion worth of goods to the US in the first three months of this year, a sharp 42.29 per cent year-on-year increase from $1.1 billion, said a US Census Bureau report. https://www.thestar.com.my/news/regional/2020/05/07/cambodian-exports-to-us-soar-42-to-us16-billion-in-q1
The outbreak of COVID-19 has frozen many sectors in Cambodia: hotels shuttered, workers in garment factories laid off, trade disrupted, and tourism stopped. Despite all the obstacles brought by the COVID-19 pandemic, the construction of the first expressway in Cambodia continues to make headway day by day under a joint effort made by Chinese and…
Cambodia received 1.15 million international visitors during the first quarter (Q1) of 2020, down 38.5% due to the impact of Covid-19 (coronavirus) outbreak, according to the latest report released by the Ministry of Tourism on Monday (May 4). https://www.thestar.com.my/news/regional/2020/05/04/international-tourists-arrival-to-cambodia-down-385-in-q1-due-to-covid-19
Cambodia is looking to reform its local organic food products market by putting new standards and procedures into legislation, as well as presenting a new unified logo for all certified organic fruits, vegetables and other agricultural items. The government has announced it will launch rules and a special logo to certify food is organic. The…
A ring road for transport linking Sihanoukville deep seaport to a road section of National Road 4 in Preah Sihanouk province’s Prey Nup district through Stung Hav district has broken ground late last week. According to the ministry, built by China Road & Bridge Corporation Co., Ltd., the road construction would cost nearly US$77 million…
PHNOM PENH — The Ministry of Mines and Energy on Tuesday said it was looking to quadruple its current installed solar power output, even while continuing to invest in coal-fired plants and hydropower on smaller tributaries. In the brief report obtained by VOA Khmer on Tuesday, the ministry is looking to invest in renewable energy,…
Sihanouk International Airport will soon increase its capacity to allow for long-haul flights – flights longer than seven hours – and the upgrade is expected to enhance relations in the trade, investment and tourism sectors between Cambodia and the rest of the world. At a press conference on the “Progress and Implementation plan of the…
The second round of negotiations for a Cambodia-China Free Trade Agreement highlighted the potential for expanding trade, investment, services, and strengthening cooperation between the two countries in the upcoming years, Ministry of Commerce secretary of state Sok Sopheak said in a press release on Friday. “The two countries’ negotiation teams agreed on several chapters in…
Cambodia’s installed solar power capacity has increased by 60 MW after a new photovoltaic (PV) park was tied to the national grid, the Phnom Penh Post reports, citing a government official. The solar farm is located in Kampong Chhnang province in the central part of the country and is owned by a SchneiTec Renewable Co…
Despite the COVID-19 pandemic effectively pressing the pause button on many upcoming construction projects in the country, four major solar projects are still on schedule and expected to start generating power to the grid by the end of 2020. The four solar projects were approved by the Council of the Ministers in July 2019 and…
PHNOM PENH, April 1 (Xinhua) — Cambodia’s famed Angkor Archeological Park received 383,663 foreign tourists in the first quarter of 2020, down 51 percent over the same period last year, said a statement on Wednesday. http://www.xinhuanet.com/english/2020-04/01/c_138938281.htm
Cambodian casino operator NagaCorp says it’s not worried about the COVID-19 pandemic because the company believes its Phnom Penh casino monopoly will outlast the virus. On Wednesday, NagaCorp issued a trading update on its performance over the first three months of 2020, during which gross gaming revenue at its NagaWorld facility in Cambodia’s capital rose 15% year-on-year…
SIHANOUKVILLE, Cambodia (Reuters) – When casino owner Kang Qiang looks out the window of his 20th floor office in this city on the remote Cambodian coast, he sees construction cranes sitting idle. The Chinese-funded gambling enclave of Sihanoukville has suffered a double blow. Travel restrictions imposed in recent weeks to slow the global coronavirus pandemic…
Farmers in Cambodia’s Battambang province are some of the few people in the country to benefit from efforts to contain the coronavirus outbreak, saying they finally have a market for their crops and can earn a living now that the border of neighboring Thailand has closed due to the pandemic. The farmers told RFA’s Khmer…
A Cambodian government decision to postpone building new hydropower dams on the Mekong river has been welcomed by campaigners, who say it will provide welcome relief to the tens of thousands of people whose livelihood depend upon its rich resources. Cambodia announced on Wednesday that it would not build any new hydropower dams on the…
The Cambodian Ministry of Land Management, Urban Planning and Construction said the construction industry in the country remains stable despite a serious downturn facing many sectors globally due to impact of COVID-19. https://en.vietnamplus.vn/cambodias-construction-sector-remains-stable/170248.vnp
PHNOM PENH (The Phnom Post/ANN): Cambodian mangoes are proving popular among South Korean consumers, the Korean Trade-Investment Promotion Agency (Kotra) said, encouraging more local firms to export the fruit to the East Asian country. https://www.thestar.com.my/news/regional/2020/03/12/cambodian-mangoes-have-ready-market-in-south-korea
A free trade agreement (FTA) between Cambodia and China is expected to be finalised in November in a move to boost trade between the two countries, the Phnom Penh Post reported. During bilateral talks from January 20-23 last year in Beijing, Cambodian Prime Minister Hun Sen and his Chinese counterpart Li Keqiang greenlighted a feasibility…
Cambodia is planning to build a new container seaport in Preah Sihanouk province with financial assistance from Japan, Minister of Public Works and Transport Sun Chanthol said last week. A 14.5m-deep port, funded by the Japan International Cooperation Agency (JICA), will soon be built in the southern province, he told a press conference. The container…
The National Committee for Coastal Management and Development will coordinate with relevant ministries over the establishment of a billion-dollar tourist area named Neak Reach in Preah Sihanouk province after it was proposed by the Ministry of Tourism. The press release said the Ream City project was estimated to cost up to $16 billion in investment…
Chinese President Xi Jinping has pledged to encourage Chinese investors to do business in Cambodia, contributing to the kingdom’s economic development. The Chinese leader expressed his deep gratitude for Hun Sen’s support, adding the visit demonstrated Cambodia places higher trust in China. Xi affirmed that China will continue facilitating the negotiation of a bilateral free…
The government aims to transform Sihanoukville into Cambodia’s industrial hub – a “second Shenzhen city”, Ministry of Economy and Finance secretary of state Vongsey Vissoth said. Located along the coast, Preah Sihanouk province boasts an international airport, a railway line connected to Phnom Penh and the Kingdom’s only deep-sea port. Its construction sector has attracted…
The ground-mounted solar project will be set up in the Banteay Meanchey province of Cambodia B.Grimm Power Public Company Limited has announced that its wholly-owned subsidiary, B.Grimm Solar Power 1 Company Limited, has completed the acquisition of Ray Power Supply Company Limited. https://mercomindia.com/b-grimm-acquires-ray-power-supply-in-cambodia
Sihanoukville, once a sleepy beach town that has experienced tremendous growth in recent years fueled mostly by Chinese investment, will soon boast two new shopping malls. Furi Times Square, a $10 million joint venture between Furi Real Estate and investors from Macau and Hong Kong, will open its doors to the public next month. Speaking…
