Saturday, September 26, 2020
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Kang Sothear

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MFI Sector up 51 Percent in 9 Months

Cambodia’s microfinance sector continued to experience rapid growth as loan disbursements reached $1.79 billion over the first three quarters of 2014, a year-on-year increase of 51 percent.

Unused Electricity From Dam Costing Millions

Since the 246-megawatt Stung Tatai Dam in Koh Kong province went online in mid-August, all of the electricity it has produced has gone unused, costing the government an estimated $74 million in lost revenue so far, according to government and company officials.

New Arbitration Center President Calls for Court System’s Support

The newly established National Commercial Arbitration Center may have been set up to al­low businesses to settle disputes outside the court system, but it still needs support from judges and court officials to do its work effectively, its president said on Friday.

In Condom Market, a Growing Private Sector

When Phnom Penh was flooded with free condoms during the Water Festival last week—a public health push to ensure revelers who came for days of debauchery did so safely—the city’s condom vendors weren’t happy about it.

CEDAC to Provide Insurance to Rice Farmers

The Cambodian Center for Study and Development in Agriculture will provide agricultural insurance to Cambodian rice farmers nationwide next year as part of a deal reached with another NGO on Tuesday.

Chinese Tourists Crash SUV With RCAF Plates

Police are investigating a road accident that occurred Friday when five Chinese nationals overturned a Lexus SUV bearing Royal Cambodian Armed Forces license plates in Mondolkiri province.

Tide Turning on Prostitution During Festival

Sitting by the Tonle Sap river with his T-shirt rolled up, exposing a barrel-like stomach, Soy Son, the chief of a boat from Kompong Cham province, remembers the days when groups of oarsmen would finish their races and indulge in a long tradition of trawling the city for sex.

Cambodian Rubber Prices Rise After Floor Price Agreed

The price of Cambodian rubber sold locally and internationally is creeping back up after a floor price was agreed upon last month by the region’s rubber representatives, giving traders hope that the industry is gaining strength after languishing for months due to oversupply.

Phnom Penh Universities Unfazed by Lower Enrollment, Revenue

Amid the fallout of this year’s poor high school exam results, with just over 40 percent of students passing nationwide, universities say that despite overall lower admission rates and a drop in annual revenue, their programs will suffer little.

For Failed High School Students, an Array of Options Awaits

As about 60 percent of the tens of thousands of students who took the national high school exam—some twice—this year cope with failure, Education Minister Hang Chuon Naron said this week the dismal grades would only have a “minor impact” on university admissions and jobseekers.

Grand Twins Workers Go Back On Strike Despite Court Order

About 5,000 workers from the Grand Twins International garment factory in Phnom Penh who have been striking over wages and working conditions briefly returned to their stations Thursday in compliance with a court order, but resumed protesting the next day after rumors spread that two union leaders had pocketed money offered to them by the company.

Gray Market Reigns Despite Influx of Car Brands

More than a year since Cambodia’s automotive industry banded together and launched the country’s first international motor show last year, the gray market continues to dominate, with only 10 percent of cars on the road from authorized dealers, according to an industry representative.

CamKo Struggles to Move Beyond Crash

Seven years since its inception, CamKo City consists of a few finished apartment buildings on one side of a plot of land and a wasteland on the other—a development project crippled by the collapse of a corruption-riddled South Korean bank.

French Agency to Offer Loans for Solar Panels

The French Development Agency confirmed Wednesday that it will sign $6 million worth of loan agreements with three microfinance institutions to help rural households purchase solar panels and electricity.

Investors Fault Power Costs, Weak SEZs in Report

High electricity costs are the main impediment to doing business in Cambodia, according to a new report that also finds many investors disappointed with the country’s special economic zones.

Open Economy Needs New Strategy for Regional Integration

Cambodia must do more than open its borders for trade and investment if it hopes to benefit from regional economic integration and reduce the glaring economic inequality wrought by entrenched patronage networks and corrupt institutions, according to a new report by the Asian Development Bank.

Minister Says Cambodia Chamber of Commerce Lagging Behind

The Minister of Industry and Handicrafts on Monday said the Cambodia Chamber of Commerce, the country’s most prominent private-sector lobbying group, should be doing more for the country’s entrepreneurs.

Cigarette Smuggling Into Vietnam on the Rise

The smuggling of illegal cigarettes from Cambodia into Vietnam is on the rise, according to recent Vietnamese media reports, which names one of the most-smuggled brands as Hero—distributed in Cambodia by prominent CPP lawmaker Ly Yong Phat.

US State Senator Lauds Hun Sen’s Anti-Graft Efforts

A visiting U.S. state senator on Thursday praised Prime Minister Hun Sen for his efforts to stamp out corruption but said the government should rely less on China, improve infrastructure and reduce electricity costs to attract further U.S. investment.

Heads Meet to Save Regional Rubber Industry

Cambodian rubber industry representatives met with Asia’s major exporters of the commodity last week to set a floor price for natural rubber in an effort to salvage an industry suffering from plummeting values.