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Monthly Archives: November 2010

Housing projects on rise in capital

The value of Phnom Penh housing investments approved by the government from January to October has risen more than 10 percent, compared to the same period of last year. Period Construction Project Amount(million) Jan-Oct 2009 249 US$ 179 Jan-Oct 2010 250 US$ 197 * Based on the figures released by the Ministry of Land Management,

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Vietnam-Cambodia trade on the upswing

Bilateral trade between Cambodia and Vietnam surged by 36 percent in the first nine months of this year, as both governments attempt to reach a US$2 billion trade target by year end. The value of trade between the two neighbours hit $1.287 billion from January to September, up on the $946 million in last year’s

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France Telecom eyes market

France Telecom SA may direct some of its up to US$9.45 billion war chest for emerging-market expansion to Southeast Asia- including Cambodia- as the company’s historic turf in Africa becomes more crowded. Europe’s third-largest phone company may look to expand in Vietnam, Cambodia or Laos. Aline Perrette, deputy commercial counselor at the French embassy in

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Malaysian bank CIMB launches today

A Fourth Malaysia bank CIMB- is set to launch in Cambodia today, bringing the number of banks operating in the Kingdom to 29. The new entry demonstrated the soundness and strength of Cambodia’s financial sector. In Channy, president and CEO of ACLEDA Bank, welcomed the investment, stating this emphasizes the trust in the Cambodian banking

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Cargo Levels Up 46 Percent At Phnom Penh Port

The expansion of Vietnam’s Cai Mep port has been key in driving an increase in the total volume of cargo moving through Phnom Penh Autonomous Port (PPAP) in the first 10 months of the year. It also provided an opportunity for PPAP to attract more business from companies wanting to transport goods efficiently through Vietnam

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Second Chinese Bank Plans Kingdom Launch

A second Chinese bank – Industrial and Commercial Bank of China, has been granted in-principle approval to operate in Cambodia. ICBC now has six months to meet NBC requirements on registered capital, statutes and potential location. The bank’s loans target mainly the energy sector and construction of hydro-power projects. Currently, many Chinese firms are investing

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Garment sector nearly recovered

Commerce Minister Cham Prasidh said that export of garments and textiles would reach $2.8 billion this year, down just slightly from the $2.9 billion figure reached in 2008. While the US still places tariffs on many goods coming from Cambodia, the governments of Japan, Canada and the European Union have granted Cambodia almost completely duty-free

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Tourist numbers still rising

The number of foreign tourists visiting the Kingdom has increased nearly 15 percent in the first nine months of year 2010. During this period, a total of 1.803,180 tourists entering the Kingdom via land, air, and sea, has risen by 14.6 percent comparing to the same period last year, according to statistics from the Ministry of

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