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Tej Parikh

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Officials Urge Investment in Energy Sector

In light of Cambodia’s growing demand for energy, government officials on Wednesday called on the pri­v­ate sector to invest in the coun­try’s power generation and transmission needs.

Government to Monitor Risks in Banking, Realty Sectors

While the government expects the country’s economy to grow at about 7 percent for the next two years, downside risks emanating from the banking and real estate sectors are a growing concern, officials say.

Fleet Expands as Airlines Vie for Chinese Visitors

Cambodia’s commercial aircraft fleet is expected to expand this year as airlines compete to gain a share of the lucrative Chinese tourism mar­ket, according to a report re­leased on Tuesday by the Center for Asia Pacific Aviation (CAPA).

Bourse Urges Small Firms to Consider Listing

Six months after the Cambodia Securities Exchange (CSX) an­nounced a new initiative to im­prove access to financing for cash-strapped small and medium-sized enterprises, no SMEs have listed on the CSX's Growth Board.

Government Targets Foreign Retirees With New Policy

The government is planning to boost Cambodia’s attractiveness as a second-home tourist destination for foreign retirees, according to a draft policy obtained from the Ministry of Tourism Wednesday.

Phnom Penh SEZ to Pilot Solar Panel System

The Phnom Penh Special Economic Zone has signed an agreement with a Singaporean firm to pilot a solar panel system inside the industrial park, the SEZ said in a statement on Thursday. Cleantech Solar, which currently offers solar technology products in six Asian countries, will lease solar equipment to the SEZ, with the system expected to be operational by the end of April, the statement said.

Corruption Keeping Economy ‘Mostly Unfree’

Cambodia’s “Economic Free­dom”—a broad measure of how well individuals and businesses can create and protect their wealth —was classed as “mostly unfree” in a new report released by the Washington-based Heritage Foun­dation, which identified corruption and bureaucracy as impediments to free markets.

NagaWorld’s Profits Increase by 20% in 2015

NagaCorp, which owns Naga­World casino in Phnom Penh, saw a 20 percent jump in profits last year, it said in a statement on Mon­day.

Commerce Minister Plans to Brand Cambodia

Commerce Minister Sun Chanthol on Friday announced proposals to boost Cambodia’s international brand and urged citizens and the private sector to help fight corruption.

Dearth of Science, Tech Skills Threatens Growth

While experts say that Cambodia must enhance education and interest in STEM fields if it is to sustain economic growth and remain internationally competitive over the coming decades, few students have heeded the call.

Nation Still Lacks Basic Political Rights, Report Says

When it comes to political rights and civil liberties, Cam­bo­dian citizens continue to be “not free,” ac­cording to U.S.-based or­ganization Freedom House, which released its “Freedom in the World 2016” re­port on Wednesday.

Cambodia Must Address Skills Gap, Productivity, Study Says

Cambodia’s skills gap and low labor force productivity continue to pose risks to economic growth in the country, according to a study released on Thursday by the Asian Development Bank and International Labor Organization.

On Energy Policy, Experts and Officials Differ

Experts on Wednesday urged Cambodia to move away from large-scale hydropower and coal projects and toward more environmentally friendly sources of energy, following the launch of a report by investment and advisory firm Mekong Strategic Partners in Phnom Penh.

With AIIB, Nation Diversifies Funding Options

Though it’s extremely early days, experts this week welcomed Cambodia’s membership to the nascent China-led Asian Infrastructure Investment Bank, saying it would provide much-needed diversity of funding for the nation’s infrastructure and connectivity needs.

KrisEnergy Committed to Cambodia’s ‘Block A’

Despite a slew of global investment banks slashing their oil price forecasts this week, KrisEnergy —the Singaporean oil and gas firm with a controlling stake in Cambodia’s most promising offshore oil reserve, Block A—remains committed to helping Cambodia produce its first drop of oil, a company official said this week.

Starbucks Expected to Grow Local Coffee Culture

Despite the threat of increased competition, Phnom Penh’s coffee shops are embracing the arrival of global giant Starbucks, which is expected to add impetus to the country’s maturing coffee culture.

Hong Kong Airlines to Begin Flying to Capital

Starting next month, Hong Kong Airlines will launch direct flight service between Phnom Penh and Hong Kong, the company announced Friday. An all-economy-class service on an Airbus A320 running three times a week will begin on February 27.

Cambodia’s Airport Passenger Figures Display Robust Growth

In spite of gloomy prognostications at the start of 2015, Cambodia’s airports experienced double-digit growth in passenger numbers for the sixth year running, according to Cambodia Airports, which is expecting significantly slower growth in 2016.

Cambodia Braces for Global Challenges in 2016

Global and regional economic dynamics are likely to pose challenges for Cambodia’s economy in 2016, the National Bank of Cambodia said in a year-end report released on Wednesday, which highlighted reforms undertaken over the past year.

The AEC Has Arrived, But Benefits for Cambodia Are Far Off

Nearly a decade in the making, the Asean Economic Community (AEC) officially launches today. But economists say it will not have an immediate impact on Cambodia, with numerous domestic and regional challenges still standing in the way of closer integration.