Emart24 is accelerating its business in Cambodia, increasing its local stores to 31 just two years after entering the market. It also doubled its original opening target of “100 stores in five years” to 200. Emart24 said on the 14th that it held a “2nd anniversary event for entry into Cambodia” at the Shangri-La Hotel…
Following high-level talks in Beijing between DPM Sun Chanthol and CIDCA, a fresh bilateral consensus secures fast-tracked implementation for the Funan Techo Canal, key national highways, and coastal environmental protection. In a major diplomatic breakthrough aimed at reshaping Cambodia’s trade and logistics landscape, Cambodia and China have formally agreed to fast-track the implementation of four…
Vietnam officially launched its national carbon market on Monday, opening the Vietnam Carbon Exchange (VCX) at the Hanoi Stock Exchange (HNX) and allowing 92 companies from carbon-intensive industries to participate in the country’s first emissions trading phase. Trading on the opening day focused on greenhouse gas (GHG) emission allowances for the 2025–2026 compliance period, marking…
Vietnam’s state-owned utility Vietnam Electricity (EVN) has proposed significant cuts in tariff payments to 173 renewable energy projects, a move that could reshape the country’s clean energy sector. The proposal is aimed at resolving a long-running dispute worth about $13 billion involving several wind and solar power developers. The issue is linked to Vietnam’s earlier…
Singapore-listed Fraser and Neave (F&N), part of the Thai Beverage ecosystem controlled by billionaire Charoen Sirivadhanabhakdi, has offered VND98 billion ($3.76 million) in a bid to acquire a soft drink plant of Chuong Duong Beverage JSC, a subsidiary of Vietnam’s largest brewer Sabeco and known for its “Saxi” soda. Chuong Duong disclosed the proposal in…
TheVentures, a South Korean venture capital (VC) firm, has completed a buyout of Chicken Plus Vietnam, securing majority control through a dedicated overseas project fund. As reported by newswire VentureSquare on February 12, the VC firm has established a project fund for overseas investment and acquired majority shareholder status in Chicken Plus Vietnam. The structure…
Brookfield Asset Management announced its first renewable energy acquisitions in the Philippines, Vietnam and Thailand, including the acquisition of Independent Power Producer (IPP) Alba Renewables, aimed at creating a decarbonization platform for the company in Southeast Asia. Founded in 2023, Singapore-based Alba Renewables was established to develop, construct, operate, manage, and commercialize renewable energy projects…
When Vietnam issued a feed-in tariff (FIT) mechanism for wind power in 2011 and 2018, and for solar power in 2017 and 2020, few expected that this policy would trigger a wave of large-scale investment from both domestic and international investors. TTC Energy, PECC1 (Power Construction Consulting 1), Trung Nam Group, Truong Thanh Group –…
The Philippines’ Jollibee Foods Corporation (JFC) earned an EBITDA (earnings before interest, taxes, depreciation, and amortization) of nearly PHP2.53 billion ($44 million) from its fried chicken chain Jollibee and Highlands Coffee chain in Vietnam in the first half of this year. Specifically, JFC earned nearly PHP1.36 billion ($23.6 million) from Jollibee Vietnam in the period,…
Cargill, one of the leading animal feed producers in the U.S., exits from the aquafeed business in Vietnam, said Maxime Hilbert, interim general manager for aqua nutrition at Cargill Thailand & Vietnam. The exit is part of Cargill’s efforts to direct resources toward the markets and species with the strongest long-term growth potential, Hilbert was…
Retroactive price cuts for some solar and wind power projects alarm investors and raise default risk PUBLISHED : 22 May 2025 at 16:35 WRITER: Reuters HANOI — Vietnam’s state power utility has cut the previously agreed subsidised price it pays for electricity from some solar and wind farms, which now risk defaulting on their debts…
Over 30,000 Vietnam food and beverage stores shut down in the first half of 2024 as consumers cut down on visits to cafes, a company that consults the industry said. There were 304,700 food and beverage outlets as of June-end, down 3.9% from the end of last year, iPOS said in a report. There was…
Le Hong Hiep Punishment awaits the Vietnam senior officials who allowed the country’s renewable energy quest to go off the rails, despite its apparent initial success. This policy crisis has the potential to affect other economic sectors if no clear end is in sight. In late 2023, the Inspection Commission of the Central Committee of…
Cambodia stands at the forefront of foreign direct investment (FDI) in Asia, anticipating a robust influx of capital in 2024, buoyed by a solid economic recovery. The International Monetary Fund (IMF) projects the country’s growth to reach 6.1% next year, as highlighted in the annual FDI Standouts Watchlist from fDi Intelligence, the industry analysis division…
The Electricity of Vietnam Group (EVN) is no longer a major power producer as it has contributed only 11% of electricity to the national grid this year. According to the Electricity Regulatory Authority of Vietnam (Ministry of Industry and Trade), of the national power system’s capacity of nearly 80,000MW, state-owned enterprises including EVN, Vietnam Oil…
Vietnam has been making policy changes to open up the electricity industry to private investors, but still remains far from creating a competitive market. Until 2006 state-owned Vietnam Electricity (EVN) owned all power plants in the country, but its monopoly has been reducing since, and it now only accounts directly or indirectly for around 37.6%…
Major Japanese retailer Aeon Mall has opened a logistics center in the southern Cambodia city of Sihanoukville. The port of Sihanoukville is the only one in the country accessible by large container vessels. A project to develop it into an international hub is underway, with assistance from Japan. Aeon Mall’s new 30,000-square-meter logistics center is…
August 7, 2023 2022Phnom PenhEu Chin FenFrasers HospitalityCapri by FraserCreateArchitectureMSQM VCCZTH Co Ltd Cambodia: Serviced and hotel residence provider Frasers Hospitality has debuted its Capri by Fraser brand in Cambodia with a property in Phnom Penh. The 86-key property marks the debut opening in Cambodia for Frasers, with two additional projects in the pipeline….
August 1, 2023 A Phuc Long kiosk in Ho Chi Minh City. Photo by VnExpress/Tat Dat Beverage chain Phuc Long saw revenue in the second quarter falling 14% year-on-year to VND370 billion ($15.63 million), the first decline since it was acquired by retailer Masan Group. Phuc Long’s pre-tax profit declined by a third to VND63…
HANOI, July 17 (Reuters) – Vietnam received its first shipment of liquefied natural gas (LNG) this month, a milestone for the energy-hungry country, but various hurdles mean it could take years for imported gas to ease the country’s long-running power shortages. Disagreement over pricing, plant construction delays and lack of supply contracts are dogging the…
Long Dimanche (R), deputy governor of Sihanoukville during the meeting. Two world-class hotels, Sofitel and Novotel are scheduled to open in Sihanoukville in the fourth quarter of 2023, said Long Dimanche, deputy governor of Sihanoukville. Dimanche recently met with the management of two of the world’s largest hotels to provide information, including a vision…
Poised to reinvent the Vietnam culinary and beverage sector with its trailblazing, cost-effective approach to product development, Bloom. represents a dynamic leap forward for the industry. The event was attended by high-profile representatives, including Sweden’s Ambassador to Vietnam Ann Måwe, Pham Hong Quat, director-general of the National Agency for Technology Entrepreneurship and Commercialisation, along with…
Although luxury brands are still coming to Vietnam, the expensive facades of the central streets of Ho Chi Minh City have been empty at an unprecedented level over the past three years, and the omnichannel sales method is now being favoured. Le Loi, the most central street of District 1 in Ho Chi Minh City,…
04 July 2023 | 21:34 ICT A feasibility study is underway on a proposed project to convert the Southern Railway Line that links Phnom Penh with Sihanoukville province into high-speed rail to better handle the growing demand for passenger and freight transit, according to Minister of Public Works and Transport Sun Chanthol. This follows the…
Jollibee Foods Corporation’s subsidiary SuperFoods, which owns Highlands Coffee, has transferred all of its assets of Vietnamese noodles chain Pho24, in an exit to East-West Restaurant Concepts. The franchise agreement for the operation of Pho24 stores in the Philippines was also terminated. The value of the deal has not been disclosed. (Source: Pho24) Founded in…
Leaving space for mangroves among the shrimp farms in the Vietnam Mekong Delta has been a win-win for aquaculture and the environment, but farmers say the economic benefits of the model are slowing Under a canopy of mangroves, Tran Van Thac’s black tiger shrimps scuttle about the clean waters of their pond, devouring any organic…
Parkson Vietnam, an indirect wholly-owned subsidiary of Parkson Retail Asia, has filed for voluntary bankruptcy with the City People’s Court in Ho Chi Minh City after 18 years in the market. The company cited a long history of operational losses in the market and lack of support from landlords during the Covid-19 outbreak as the…
Hanoi (VNA) – The Cambodia government on April 7 approved the construction of five renewable energy power plants with a total capacity of 520 megawatts. According to spokesman of the Cambodian government Phay Siphan, the approval was made during a meeting of the Council of Ministers chaired by Prime Minister Samdech Techo Hun Sen. Phay…
A wide-ranging corruption crackdown spearheaded by the Vietnam Communist Party chief has claimed the scalp of a former president and shows no signs of stopping The tussle at the top comes as Vietnam battles inflation and as fears of debt bubbles inside its property sector leave investors unsettled Vietnam Communist Party General Secretary Nguyen Phu…
Climate change might make growing produce indoors via vertical farming a necessity. But despite taking in more than a billion dollars in venture capital investment, most companies in the industry seem to be failing, unable to turn a profit on lettuce in a bubble that seems to be bursting. When workers arrived at Fifth Season,…
SHAH ALAM: Sirim Bhd is working towards increasing jackfruit exports globally by commercialising the fruit as a meat substitute. President and chief executive officer Datuk Dr Ahmad Sabirin Arshad said that based on demand from Europe, the fruit had been accepted as an alternative to meat by people on a vegetarian diet. “As part of…
The average rent in Saigon retail shopping malls last quarter was around US$50 per square meter per month, a year-on-year rise of 9.1%, according to Cushman & Wakefield. Last year dozens of local and foreign brands in fashion, gastronomy, cosmetics, sports, and others came to the city and rented space in malls, the property consultancy…
By DANSON CHEONG Monday, 16 Jan 2023 3:41 PM A wind power project in China’s Hebei province. China has begun building the world’s largest floating wind farm off the coast of Hainan.- SEMBCORP INDUSTRIES BEIJING (The Straits Times/Asia News Network): China is building the world’s largest commercial floating offshore wind farm off the coast of…
Nguyen Hung Dien, Minister of Industry and Trade of Vietnam, established the new framework for electricity prices for transitional solar as well as wind power projects. The ceiling price for electricity generation (excluding value-added taxes) is VND1,184.90/kWh for ground solar power plants and VND1,508.27/kWh for floating solar power plants. For the onshore wind power plants,…
The Cambodia government has expressed its determination to build high-speed rail to link Phnom Penh with Sihanoukville and neighbouring countries. Prime Minister Hun Sen said yesterday that the government has been conducting studies on high-speed railways connecting domestically and to neighbouring countries. “We are conducting studies on high-speed railways connecting Phnom Penh to Preah Sihanouk…
The government plans to look into building a proposed Sihanoukville Logistics Center (SLC), with support from the World Bank, to transform Cambodia into an “active distribution channel” for the region as well as to capture and maintain a sound competitive edge against its peers, according to Minister of Public Works and Transport Sun Chanthol on…
Starbucks continues to respond to increased consumer demand for convenience, partnering with local franchisee Coffee Concepts Limited to bring its drive-thru offering to Cambodia. The Seattle based coffee chain has opened its first drive-thru store in Cambodia in partnership with its local franchise partner Coffee Concepts Limited. The US coffee chain, which operates 30 outlets…
As nearly one million tonnes of aquaculture waste are discarded annually, some firms have begun to seek profitable ways to reclaim the waste and prevent it from posing a risk to the environment. Vinh Hoan Corporation extracts proteins from fish waste for use in cosmetics and pharmaceuticals. “Our company isolates collagen and gelatin from fish…
Long Kimmarita | Publication date 10 November 2022 | 19:58 ICT Cambodia’s second expressway project, which will run from Phnom Penh to Bavet town in Svay Rieng province on the border with Vietnam, has an estimated cost of more than $1.6 billion, Minister of Public Works and Transport Sun Chanthol revealed. The construction contract was…
The Cambodia Korea Free Trade Agreement (CK FTA) which will be entering into force on the start of next month is expected to boost exports between the two countries and contribute to economic recovery. Prime Minister Hun Sen while speaking at the 10th anniversary of the Regional Comprehensive Economic Partnership (RCEP) on November 2 said…
October 1, 2022 Khmer Times Cambodia’s first expressway – which reduces travel time from Phnom Penh to Sihanoukville from five hours to just two hours – opens for a free month’s trial today. The Phnom Penh-Sihanoukville Expressway is 187.05 km long, connecting Village 1, Sangkat Samrong Krom, Khan Por Senchey, Phnom Penh to Village 1,…
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…
Michael Burry is doubling down on investing in farmland. What is one of the hottest and underappreciated assets on Earth this decade? Is it Zoom (ZM), which skyrocketed 500% this year? Or perhaps it’ll be Amazon (AMZN), the king of stay-at-home names already up 72% this year. Surely it must be Moderna (MRNA) or Pfizer…
SINGAPORE/HANOI : Mobile World Investment Corp Vietnam said on Wednesday it has hired an adviser to explore the sale of up to 20 per cent of its Bach Hoa Xanh grocery chain in a deal sources familiar with the matter said would value the business at more than $1.5 billion. “We have chosen an adviser…
The World Bank’s International Finance Corp will buy VND600 billion ($25.6 million) worth of convertible bonds to be issued by Vietnamese agri pork producer and feed mill operator BaF. The private placement is expected to be done during this half to fund the expansion of BaF’s farm and food businesses, the IFC said. “With Vietnam’s…
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….
The Vietnam government is reportedly concerned about legal action from solar investors if its new power development plan does not prove ambitious enough. Vietnam’s latest draft energy plan prepares for 8.7 GW of new solar between 2021 and 2030, but the Vietnam Ministry of Industry and Trade is reportedly fearful of legal action by solar…
Highlands Coffee, one of the largest coffee chains in Vietnam, earlier this month hiked its prices by 10-15 percent. It said that the increase served to maintain product quality amid market fluctuations. Hoang Viet, CEO of Laha Cafe, said that coffee chains are seeing costs of coffee surging by 25 percent and rents by 10-20…
Marriott International has announced a strategic agreement with Vinpearl, Vietnam’s largest hospitality and leisure chain, to convert and develop close to 2,200 rooms across eight hotels in Vietnam – significantly expanding its portfolio of world-class hotels and resorts in the country. This collaboration expects to see the debut of the Autograph Collection Hotels brand in…
Vietnam will see more real estate projects by businesses from the Republic of Korea (RoK) investors in the coming time as they are seeking opportunities to enter and expand operations in the country, according to Andrew Lee, Korean Desk Manager at real estate consultancy Savills Vietnam. Illustrative image (Photo: VNA) A recent survey by Savills…
After a renewables frenzy, Vietnam’s solar energy goes to waste in many provinces without enough transmission capacity. For up to 12 days every month, Tran Nhu Anh Kiet, a supermarket manager in Vietnam’s Ninh Thuan province, is forced to turn off his solar panels during the most lucrative peak sunshine hours. “I’m losing on average…
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…
The CapitaLand Development (CLD), a real estate firm and development wing of CapitaLand Group, is investing $1.3b for the enhancement of its first industrial park, logistics park, as well as township development in Vietnam. The CLD and the People’s Committee of Bac Giang province signed a memorandum of understanding (MOU) for the $1.3b investment deal….
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…
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…
New York, N.Y. — Nguyen Coffee Supply announced the closure of a $2.6 million seed round of funding. The funding will advance Nguyen Coffee Supply’s mission to bring Vietnamese coffee–and the resilient robusta bean–to the masses and support the company’s expanding distribution and product innovation. The seed round will help transform the coffee industry through…
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,…
By Anh Minh February 27, 2022 | 04:22 pm GMT+7 A worker cleans solar power panels in Vietnam’s central Ninh Thuan Province in 2019. Photo by VnExpress/Quynh Tran The solar power capacity planned by Vietnam for 2031-2045 is “too high” should be cut to give space for wind power, the government says. In a communiqué…
23/02/2022 08:03 GMT+7 A leader of Japan’s power producer EREX said the corporation is seeking to invest in biomass power in Vietnam, which holds great potential for biomass power development. Honda Hitoshi (R), chairman and general director of EREX, at a meeting with Vietnamese Minister of Industry and Trade Nguyen Hong Dien. – Photo:…
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…
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…
Bill Bien, CEO of Forever Oceans, met this week with Jorge Seif Junior, secretary of aquaculture and fisheries at Brazil’s Ministry of Agriculture, Livestock and Supply to sign a 20-year plan concession agreement that authorises Forever Oceans to ocean-raise fish within automated enclosures in two zones, located 7-15km (4.3-9.3 miles) offshore the Brazil coast of…
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…
Jackfruit or Artocarpus heterophyllus, the spiky, green, bulky fruit is a common sight in the backyard of almost every household on the south coast of India. When ripe and cut open, its yellow, fleshy and stringy interior wafts a very intense tropical smell. Besides being unique in their look and smell, they are also known…
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…
The inflation wave that’s sweeping through the global economy is playing into an investment niche that has captivated investor interest and a small group of people in finance have spent years developing: farmland. Agricultural farmland has attracted interest with institutional investors and wealthy families in recent years because returns tend to be stable and weakly…
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…
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…
By Anna J. ParkLocal Korean private equity companies are increasing their investment in Southeast Asia venture capital businesses, as they see further growth potential in the region.Vietnam, in particular, is one of their favored areas. Korea-headquartered STIC Investments recently decided to participate in the Series E round investment for Tiki, one of Vietnam’s largest e-commerce…
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…
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…
Hanoi (VNA) – Forty-two out of 106 wind power plans registering for commercial operation received Commercial Operation Date (COD) acceptance as of October 29, according to the Electricity of Vietnam (EVN). According to the EVN, the 42 plans have total capacity of over 2,131 MW. It said that the 106 wind power plants have a…
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…
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…
HO CHI MINH CITY — It sounds like the setup for a Vietnamese riddle: Why did the car company buy the supermarket? But instead of a punchline, the answer reveals a common yet obscure aspect of foreign investment in Vietnam: local protectionism hidden in the economic needs test. The blandly named economic needs test, or…
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…
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…
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…
Through a period of economic volatility, investment trusts have proven their attraction to investors. Investment trusts are reaping the rewards from interest in alternative assets, ESG and EM. They have out-performed alternative options such as open-ended funds over recent years, and their structural strength has been clearly demonstrated in the face of Covid-19. Indeed, investment…
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…
Foreign investors sell Vietnam blue chips worth over US$1 billion in the first half of the year, according to Yuanta Securities. Matthew Smith, head of research at the company, said in a recent note that net selling by foreign investors in the period was $1.4 billion, 67 percent higher than in the same period last…
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…
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…
Vietnam’s Ministry of Planning and Investment is drafting a decree to lift the development of enterprises investing in agriculture and rural areas in a bid to draw investment into the sector. According to the ministry, new policies are needed to encourage enterprises to invest in agriculture and rural areas and take advantage of new opportunities…
The third-richest man on the planet, Bill Gates, is also one of the largest private owners of farmland in the US. He is known for supporting environmental innovation, but his farming plans have been secretive until now. In January, US magazine The Land Report — which tracks land transactions and produces an annual list of the…
