Cambodia

John Negroponte, US Deputy Secretary of State, is planning to sign a Cambodia trade deal on his visit to the country next week according to Xinhua News.

The focus of the Cambodia trade agreement with the US is agriculture and industry.

Official statistics indicate that Cambodia trade with the US is up in the first half of 2008 with apparel exports totaling $1.16 billion up from last years $1.3 billion.

The Cambodian government’s request for $38 Million from the Asian Development Bank (ADB) will go to the ADB board next month according to Xinhua News.

The ADB request by the Cambodian government is proposed to ensure Cambodian food security between through 2011 and is expected to benefit over 500k Cambodians.

The Bank of India has indicated its intent to invest in Cambodia as the Cambodia government has welcomed an initial application by the Indian bank according to The Economic Times.

The Cambodian investment news comes after the Cambodia Finance Minister Keat Chhon met with Indian ambassador Aloke Sen to promote further Cambodia investment by India. [Read more →]

The Cambodia government’s Commerce Minister ChamPrasidh has stated that it will not be affected by Thailand government boycott of fruit exports to Cambodia according to Xinhua News Agency.

The challenge comes as the Cambodian government and the Thai government continues to debate over the Preah Vihear Temple. See: Cambodia Government Seeks UN Intervention Temple Dispute with Thailand

Cambodian trade volume with Thailand increased over 10 percent in 2007 to $1.4 billion according to Cambodian Commerce Ministry. [Read more →]

As expected, the current Cambodian government administration won a landslide victory over the Cambodian opposition party according to AP.

Many Cambodians are concerned that the Cambodian election was rigged raising concerns that one party-rule is damaging it’s the countries democracy.

The Cambodia election results give Prime Minister Hun Sen a new 5 year term. [Read more →]

The current Cambodian government and the Cambodian People’s party (CPP) has claimed victory in the recent Cambodia parliamentary elections according to the Financial Times.

Should the Cambodian People’s party (CPP) continue to control the Cambodia government, Hun Sen, Cambodia’s prime minister would continue his 23 year reign.

Key drivers to the likely victory include a strong economy, a change in the Cambodia constitution that no longer requires a two-thirds majority vote, and the fact the Cambodian government has stood up to neighboring Thailand over the Preah Vihear temple dispute. See: Cambodia Government Seeks UN Intervention Temple Dispute with Thailand [Read more →]

The Cambodia government has engaged the United Nations Security Council to intervene in its dispute with the Thai government over the Preah Vihear temple according to AP.

The dispute is over a recent UNESCO approved application to have the Hindu Preah Vihear temple named a World Heritage Site.

While seemingly inconsequential, the dispute has caused the Cambodia government and the Thai government to deploy more than 4,000 troops to the Cambodia Thai border.

Nonetheless, neither country can afford a military melee in order to settle the dispute considering the Thai and Cambodian economic growth goals at stake. [Read more →]

Vimpelcom, Russia’s second largest cell phone operator has announced it will invest in Cambodia through the purchase of Sotelco according to Reuters UK.

The Cambodian investment deal with Vimplecom and telecommunications and internet service provider Sotelco involves an estimated $28 million purchase yet no other details were released.

Interestingly, the move by Vimpelcom to invest in Cambodia coincides with Vimpelcom similar investment in Vietnam. See Vimpelcom to Invest in Vietnam [Read more →]

Cambodia exports of rubber are expected to expand from 30k tons to 50k tons according to The Hindu News.

The increase in Cambodian exports of rubber comes as new rubber trees planted over five years ago begin to yield.

Rubber currently sells for $3,310 up from $2,800 a year ago. [Read more →]

The National Bank of Cambodia plans to tighten its money supply in a move to fight run away inflation that continues to inflict the Cambodia economy according to the Phnom Penh Post.

The plan is to double reserves to 16 percent from 8 percent which complies with the International Monetary Fund (IMF) recommendation.

Some believe the Cambodian economy is experiencing an inflation rate as high as 30 percent even though the Cambodian government has not released Consumer Price Index (CPI) number since March. See Cambodia Government Opposition Accuses Current Administration of Lying [Read more →]

An opposition party of the current Cambodia government has accused it of being dishonest to the Cambodian people by lying about Cambodia inflation according to ABC Radio Australia.

The criticism of the current Cambodia government comes a month before the country will hold general elections and highlights the fact that the Cambodian government has not published a Consumer Price Index since March.

It is estimated that the Cambodian economy is experiencing 30 percent inflation which is similar to levels that the Vietnam economy is publishing. See Vietnam Inflation Hits 26.8 Percent [Read more →]

The Cambodia has lifted its rice export ban according to Bloomberg.

The Cambodia trade announcement by the Cambodia government added to a further softening of rice prices as rice futures July delivery fell 2.5 percent.

Cambodia is expected to produce [Read more →]

The Cambodia government is going through with plans to build nine hydroelectric dams despite environment concerns according to AFP.

The move will potentially threaten to flood a large portion of Cambodia’s protected forests yet will provide 1,942 megawatts of power by 2019.

A large portion of the Cambodia investment is [Read more →]

Thailand’s largest cement producer, Siam Cement, plans to invest in Cambodia by building a second cement plant according to Bloomberg.

The Cambodia investment move by Siam Cement is worth possibly $189 million and is expected to triple cement production in the country.

Other big commodity investment deals in Cambodia include [Read more →]

Cambodia, Vietnam and Thailand, as well as Myanmar and Laos have agreed to form a rice cartel according to Forbes.

The Cambodia trade move with its neighboring countries would act similar to OPEC but would be called the Organization of Rice Exporting Countries (OREC).

While intentions may be good considering recent runaway rice prices, it will be interesting to see how the World Trade Organization (WTO) reacts to the [Read more →]

The Cambodian government has announced that is plans to become one of the world’s largest rice exporters according to ABC.

The Cambodia government’s plan is to export 8 million tons of rice annually by 2015.

As affordable food continues to become one of the biggest global issues, there is a distinct possibility that the Cambodia trade plan is attainable considering its [Read more →]

The Cambodia government has agreed to sell 6,000 tons of rice to Senegal despite its recent rice export ban according to Xinhua News.

The decision by the Cambodia government to circumvent the Cambodia trade ban is justified by only selling ‘broken’ rice to Senegal.

Any move by the government of Cambodia to lift the ban on Cambodia rice exports is welcome by Cambodia rice farmers as the price of Cambodia rice [Read more →]

Seamico Securities, Thailand’s 7th ranked brokerage firm, plans to invest in Cambodia according to Reuters.

While the details of the Seamico expansion plan were not disclosed, a license to enter Cambodia market is likely to go through later this year.

The key driver for Seamico’s interest to invest in Cambodia surrounds the fact that the Cambodia economy is currently [Read more →]

In addition to sky rocketing rice prices, depleting fish supply is putting pressure on the Cambodia economy according to IPS.

75 percent of the protein consumed in Cambodia is through fish and as supply continues dwindle the Cambodia government is faced with the possibility of introducing stringent fishing controls which may only further the problem for the poorest Cambodians.

While the Cambodia economy continues to grow at rapid pace, any disruption in food supply could cause social unrest and derail Cambodia government plans to further grow the Cambodia economy. [Read more →]

MobilityOne Ltd, the Digital payment services provider based in Malaysia, has announced it will invest in Cambodia according to Forbes.

While the financial terms of the Cambodia investment were not disclosed, the deal involves Telekom Malaysia International and [Read more →]

The United Nations has announced that it expects the Cambodia economy to slow in 2008 according to AFP.

The forecast it is that the Cambodia economy will only grow 7 percent compared to the 8.5 percent it grew in 2007.

Nonetheless, with inflation in the rise and countries such as China and Vietnam pressured to cool their own economies, the Cambodia government is likely somewhat pleased about the Cambodia economic growth revision as food inflation continues [Read more →]

The World Bank has expressed its concern over the sharp rise in inflation in the Cambodia economy according to The Earthtimes.

While the World Bank does not believe 10.8 percent inflation will dramatically hurt the Cambodia economy, it did clearly state that [Read more →]

The Cambodian National Petroleum Authority (CNPA) has announced that Cambodia will begin oil production in 2011 through newly found oil reserves according to AFP.

While the announcement is good news for the Cambodia economy in the longer term, it does not provide instant prosperity for those whole likely hoped for change sooner.

Nonetheless, oil production from domestic reserves will offer a big boost to the Cambodia economy despite the [Read more →]

The Cambodia government has halted all Cambodia exports of rice to Thailand according to the International Herald Tribune.

The move comes as higher food prices continue to put pressure on the Cambodia economy and has been welcomed by the Cambodian population.

Although the ban is only to last two months and will only slightly impact the Thailand rice market, the move could potentially hurt the Cambodia government in f [Read more →]

MTV Networks Asia and Cambodia’s Advance Communications (CADCOMMS) have entered into a mobile licensing deal to provide 3G platform content according to The Hollywood Reporter.

The Cambodia investment will allow MTV to deliver MTV and Nickelodeon content directly to Cambodia mobile subscribers.

While the MTV deal to invest in Cambodia is [Read more →]

Through a joint venture Cambodia investment agreement, Cambodia will operate the Kentucky Fried Chicken Restaurant according to The Star.

QSR Brands, Royal Group of Companies and Rightlink Corp Ltd Hong Kong comprise the joint venture makeup to from Kampuchea Food Corp Ltd (KFCL) and the company responsible for KFC operations in Cambodia.

The KFC Cambodia investment is [Read more →]

Western nations only made up 15 percent of foreign investment in Cambodia whereas Asian nations, such as China and South Korea, made up over 60 percent foreign investment in Cambodia in the years of 1994 to 2003 according to Earthtimes.

More specifically, China foreign investment in Cambodia accounted for $1.76 billion and South Korea foreign investment in Cambodia accounted $1.5 billion from 1994 to 2007.

The Cambodia investment trend is expected to continue in 2008 according to the Cambodia government. [Read more →]

Food inflation is now beginning to hit Cambodia’s poor and the Cambodia economy according to AFP.

Cambodia inflation in 2007 hit 10.8 percent as compared with 2.8 percent in 2006.

The result has caused the price of food and other staple goods to skyrocket therefore sending the poor into deeper poverty.

It is estimated that Cambodia economy is now [Read more →]

Cambodia government’s Foreign Minister Noppadon Pattama has denied that the Thailand government’s Prime Minister Samak Sundaravej plans to meet with ousted premier Thaksin Shinawatra in Cambodia according to the Bangkok Post.

The rumor comes as word that Thaksin Shinawatra is set to play gold with Cambodia government’s prime minister Hun Sen at the same time of Samak Sundaravej visit to Cambodia [Read more →]

Cham Prasidh, the Cambodian Commerce Minister, announced that investment in Cambodia reached $2.8 billion in 2007 according to Xinhua News.

Although, the number of Cambodia investments was lower in 2007 than in 2006, the Cambodia government expects 2008 to continue to grow with several jumbo projects currently in negotiations.

Garment, tourism, infrastructure construction and agriculture make up the four pillar industries that are driving Cambodia investment [Read more →]