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The government called on donors to offer up to $30 million as part of its “Aid-for-Trade” strategy to bolster Cambodia’s competitiveness in international markets, and in turn enhance economic development, officials said on Thursday.
Hun Manet, Prime Minister Hun Sen’s eldest son, faced another setback on Tuesday in his attempts to engage with the Cambodian diaspora, after officials in Lowell, Massachusetts voted against his proposed visit to the city next month.
The Asian Development Bank on Wednesday released figures forecasting Cambodia’s economic growth to reach 7 percent and 7.1 percent in 2016 and 2017, respectively, but warned that downside risks emanating from excessive credit growth and weak economic diversification could eventually lead to slower growth.
The evolution of Cambodia’s democracy saw significant setbacks last year, with the government repeatedly violating the law and suppressing freedom of expression, according to an annual report released by a watchdog on Tuesday.
The E.U. is the world’s leading investor in Asean countries, yet less than 1 percent of its investments in the region are made in Cambodia—a statistic reflective of the country’s human resource deficiencies and opaque business environment, E.U. officials said Monday.
Cambodia’s consistently low ranking on international measures of corruption and the ease of doing business came into the spotlight during a conference on Monday in which officials debated whether they unfairly damage foreign perceptions of the country.
On Monday, Prime Minister Hun Sen announced a new phase of the Public Financial Management Reform Program, a donor-assisted initiative established in 2004 to bolster the country’s ability to soundly manage its budget. In a speech at the launch event, he touted the government’s progress in making the budget-drafting process more accountable to the public.
The National Bank of Cambodia (NBC) has doubled the minimum capital requirements for commercial banks and significantly raised the requirements for microfinance institutions in a move experts say will protect and consolidate the country’s banking sector.
The Chip Mong Insee Cement (CMIC) company broke ground on a $262 million factory in Kampot province on Monday, a move expected to intensify competition among firms eager to meet demand from the booming construction sector.
Fear of government interference, legal repercussions and violence remain impediments to free and independent journalism in Cambodia, according to a survey released on Wednesday in a report by the Cambodian Center for Independent Media (CCIM).
Demand for cheaper and more reliable cargo transport in Cambodia is putting new pressure on the country to modernize and expand its long-ignored rail system, experts say.
After a 14-year wait, scheduled passenger train services between Phnom Penh and Sihanoukville will resume on April 9, according to a statement issued by Royal Railways on Monday.
The U.N. World Food Program (WFP) has extended its operations in Cambodia by 30 months and increased its funding by $46 million to focus on achieving greater food security for children in rural areas, a foreign ministry official said Wednesday.
Prime Minister Hun Sen on Monday said Cambodia needed to rapidly increase investment in its road, rail, sea and air links if it is to take advantage of regional integration and remain internationally competitive.
Kampot Pepper, famed for its powerful fragrance, has become the first Cambodian product to be registered with a protected label in the E.U., according to a statement released this week, raising hopes that the production of imitation goods will slow.
Despite concern from the E.U. that Cambodia is being used by Chinese bicycle makers to avoid an anti-dumping duty, the bike industry has maintained strong export growth to Europe, according to the latest data from the European Commission (E.C.).
More than a year after receiving permission to start exploratory drilling, Mirach Energy, a Singapore-based oil exploration and production company, is still unsure about when it will be able to commence drilling in Cambodia’s Block D offshore oil field because the Ministry of Mines and Energy has not come to a decision on fees for the block, according to its 2015 financial report released Tuesday.
Prime Minister Hun Sen on Tuesday encouraged citizens to send corruption complaints to his personal Facebook inbox, with attached evidence, in what he said was a move to bolster anti-graft efforts.
The Asian Development Bank (ADB) on Tuesday announced a 50 percent increase in financial support for its technical and vocational education and training (TVET) initiatives in Cambodia.
Pestech International Berhad, a Malaysian power technology firm, announced its intention to list a local subsidiary on the Cambodia Securities Exchange in a disclosure sent to Bursa Malaysia, the Malaysian stock market operator, on Thursday.