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Monthly Archives: March 2012

Ford Motor Co Announces SUV Assembly Launch in Cambodia

The Ford Motor Co announced yesterday that it has begun assembling the 2012 Ford Everest SUV in Cambodia and has started selling the SUVs domestically, marking the first assembly of a retail vehicle here by Ford. The first car off the assembly line was purchased by Prime Minister Hun Sen, Ford and its local partner,

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Rail Project In Need of More Funds

  The rehabilitation of Cambodia’s dilapidated railway network is nearly six months behind schedule, and with more than a year’s worth of work to do, the project is running out of money, a consultant for the Ministry of Public Works and Transport said yesterday. Paul Power, a consultant on the railway project hired by the

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Chinese President Hu Jintao to visit Cambodia

Chinese President Hu Jintao will pay an official state visit to Cambodia between March 30 and April 2, a trip that will coincide with the Asean European Union Business Summit and will finish just one day before the annual Asean summit commences in Phnom Penh, an official at the Chinese Embassy said yesterday. Mr. Hu

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Kingdom’s Tourism Growth to Reach 20%

Cambodia’s Ministry of Tourism is projecting sizeable growth for the industry this year, according to Director General Tith Chantha. Pointing to the about 28 percent year-on-year increase in visitors in January, he said the ministry has estimated the rest of 2012 would enjoy a similar upward trend. “The jump [in January] will lead our total

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Japanese Aid Tabbed for Health & Road Works

In a ceremony at the Ministry of Foreign Affairs and International Cooperation yesterday, the Japanese government officially granted aid of 974 million yen (about US$12.2 million) to the Cambodian government. The Honorable Masafumi Kuroki, Japanese ambassador to Cambodia, said his country had made the donation to help accelerate economic and social development in Cambodia in

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City on a Hill – Borkor Mountain

A Casino complex on top of Kampot province’s Borkor Mountain will open in less than two weeks but the development itself is the size of a small city. The complex, in the Preah Monivong National Park, includes a casino and hotel and would have a “soft opening” late this month before an official opening mid-year

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Cambodia’s inflation up over 5% in February

Prices in the Kingdom rose 5.4 percent year-on-year in February, as fuel costs continued to push inflation higher, according to data from the National Institute of Statistics released yesterday. Foodstuffs, however, saw declines following demand that was driven by Chinese New Year, though paddy prices were still high. The increase in inflation from January was

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CBRE Commentary – Residential Market

 The residential market in Cambodia is dominated by three main categories of housing; apartments/ condominiums, shop houses / townhouse / and villas. The residential market involves us all and we therefore all have our own opinions about it. The residential market can be very challenging for developers and investors. At the same time, the residential

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US Dollar Drops Below 4,000 Riel with Agricultural Harvest

An increase in agricultural trading has caused the value of the US dollar to dip below 4,000 riel in the past three consecutive days, as there is now a higher demand for the Cambodian riel, money exchangers and an official from the National Bank of Cambodia said yesterday. Nguon Sokha, director-general of the National Bank

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National Census Identifies Half-Million Business

Cambodia has a total of 505,134 businesses supported by a workforce of 1,676,263 just 11.56 percent of the total population, according to a nationwide economic census released yesterday by the Ministry of Planning. Of the total number of people employed in the country, 1,026,084 or 61.2 percent, are women, mostly working in low-end jobs in

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Battle Over CamKo City Now in Court

A South Korean government agency and Korean investors in CamKo City are locked in an ownership dispute at the Phnom Penh Municipal Court over the half-built residential development project in Russei Keo district, according to court documents obtained yesterday. Following the collapse of the Bunsan Saving Bank amid a fraud scandal just over a year

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The Kingdom’s First IPO

The long awaited first security listing on the Cambodian Securities Exchange became a reality on February 23 with the Securities Exchange commission of Cambodia’s “in principle” approval of Phnom Penh Water Supply Authority’s (PPWSA) “disclosure document for public issuance of equity securities”. This is effectively a preliminary prospectus that includes information on the company such

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Phase one of latest Borey Peng Houth project complete – 'The Star Platinum' development

The first phase in the construction of the Phnom Penh-based Borey Peng Huoth, ‘The Star Platinum’ housing development was recently concluded, with completion of the entire project slated for the second quarter of 2013. Construction is now underway on the second phase, which will comprise 550 mixed units, according to sales manager Ouk Thavy. “We

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Aeon Head to Invest $1.5B in Vietnamese Shopping Centers

HO CHI MINH CITY- The head of major Japanese supermarket chain operator Aeon Co revealed in early March plans to invest about $1.5 billion over the coming decade to open shopping centers and stores in Ho Chi Minh City and elsewhere in Vietnam. Motoya Okada, Aeon president and chief executive officer, made the remarks at

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Cambodia’s trade with Hong Kong jumps 22%

Bilateral trade between Cambodia and Hong Kong rose more than 22 per cent year-on-year in 2011, according to data from the Hong Kong Trade Development Council, whose regional base is in Hanoi. Total trade was US$741 million, compared with $607 million in 2010.  Cambodia’s exports to Hong Kong grew more than 90 per cent to

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Land Available for Sale

Land available for sale 2,212 sq.m plot with fantastic development opportunity in an up and coming area of Sihanoukville. Situated with road frontage. Road has planning for infrastructure improvements widening to 35m. Close proximity to Oucheteal Beach and the Golden Lion Roundabout. Located on a hill side with potential development having panoramic views of the sea.

Professionalism in the real estate sector CBRE Cambodia

The real estate sector is a key driver in the growth of the Cambodian economy with construction approvals having increased by 158 percent in 2011. In order to facilitate more investment, an open and transparent property market is crucial. Land and property valuations provide fundamental foundations in creating a trusted real estate market, which will

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CBRE Regional Chairman talks Cambodian Real Estate

David Simister, regional chairman of the world’s largest real estate firm CBRE, has more than 20 years experience in Southeast Asia. He sat down with Post Property Liam Barnes recently to discuss the current climate of the Kingdom’s property sector, Phnom Penh’s latest flagship development Vattanac Capital and the future of investment in one of

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