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| Cambodia to export rice to Brunei Source: Borneo Bullentin, http://www.brunei-online.com | |
| Cambodia reached an agreement on Tuesday with Brunei Darussalam to export 1,500 tonnes of prime-grade milled rice, an official confirmed Wednesday.According to the spokesman for the Council of Ministers, Phay Siphan, the deal was struck between Brunei Ambassador Pengiran Haji Ismail and Deputy Prime Minister Sok An, but declined to provide details of the agreement, The Phnom Penh Post reported.
“At this time, Brunei has not expressed its long-term intent to secure rice exports, but has agreed to purchase 1,500 tonnes of milled rice from a local producer,” said Phay Siphan, who referred any additional questions on the deal to the Brunei Embassy. A member of the Brunei Embassy in Phnom Penh also declined Wednesday to provide details of the scope and duration of the agreement. But two local companies said they have received inquiries from Brunei officials about the purchase of rice, though no formal sale has yet been secured. Phou Puy, the Head of Cambodia’s Rice Milling Association, said he was contacted by Brunei officials about yearly purchases of top-grade rice – which sells for about US$780 million per tonne. “This would be our first sale of rice to Brunei, and I think they are currently researching prices,” he said. |
Cambodia to export rice to Brunei
Singapore Investment, Cambodian Corns Hope
Written by DAP NEWS — Thursday, 13 August 2009 02:49
Source: www.dap-news.com
Plans to export US$15 million worth of Cambodian corn to Singapore have to produce animal feeding has raised hopes after last month’s drop in the price of corn.
Datto Jonny General Manager of Corn Agricultural Co. Ltd., (H.L.H) told DAP News Cambodia that “our corns export investment spans over 12,000 ha of planted corn and 10,000 ha in Kampong Speu province and Orral district.”
He said he would buy unprocessed corn at US$115 per ton and processed corn at US$140.
“We want to push to Cambodian corn output to improve the yearly exports to the Asian market,” he said, adding that the plan should help bolster the farm gate price of corn in Cambodia.
“To increase the price of Camb-odian corn at market, we need to use agricultural tools from France and improve the output of corn for 300,000kg a day.”
Secretary of State for the Ministry of Commerce Mao Thora told DAP News Cambodia that “We welcome to all investors who wish to invest in Cambodia to help the Cambodian corn reach a stable price.”
Director of Center for Develo-pment of Agriculture in Cambodia (CEDAC) Yang Saing Koma said the corns price at market is still decreasing. “It is good for investment in corn. If some investors come to invest in Cambodia, the price will be better than in the past and Cambodian farmers will be happy with an appropriate price.”
Jonny claimed that, “Our farming, not only plants corn, we also have many various parties invest and buy our output.”
Saigon Trading Group signs deal for red corn
Farmers in Battambang and Kampong Cham provinces will have a new market for little-produced crop with $1-million export agreement to deliver 5,000 tonnes
Tauch Tepich Import Export company said Tuesday that it had inked its first agreement with Saigon Trading Group (SATRA) to supply 5,000 tonnes of red corn, worth US$1million, to the Vietnam-based company this year.
Tauch Tepich, director of the import-export company, said he hoped the deal would open more doors.
“We hope that the export of red corn to Vietnam will provide opportunities for Cambodian farmers to win wider markets for their agricultural products,” he said.
According to the agreement signed last week, Tauch Tepich will begin supplying red corn to SATRA, at $200 per tonne, this month and continue through the rest of the year.
Tauch Tepich said Tuesday that the company will transport its first installment of 700 tonnes through two international border crossings in Trapaing Thlong and Phnom Da, both in Kampong Cham province.
Future exports are to be trucked to Vietnam each week until the balance of the agreement is reached, Tauch Tepich said, adding that if the process goes smoothly, his company could see continued cooperation with SATRA.
Tauch Tepich said Cambodia is well-suited to produce red corn, and that his company is capable of delivering an additional 5,000 tonnes next year if additional agreements are struck.
He added, however, that many farmers choose not to produce red corn because of a lack of appropriate markets and export options.
Tauch Tepich said his company had purchased the red corn from Cambodian farmers in several districts of Battambang and Kampong Cham provinces, with cooperation from the Baitong community, led by Phu Puy, president of the Battambang Chamber of Commerce.
Yang Saing Koma, director of the Cambodian Centre for Study and Development in Agriculture, said Tuesday that Cambodia lacks markets for the crop every year, and that if proper agreements existed to export it, more farmers would be willing to invest in the crop.
Corn farmers generally see low profit margins because of the expense of importing quality seeds, Yang Saing Koma said, adding that private companies as well as the Ministry of Agriculture should provide more opportunities to farmers by preparing production plans and supplying seeds.
“I think that the export of red corn is a good step to assist our farmers in meeting market needs,” Yang Saing Koma said.
The export agreement with SATRA follows an announcement by the Ministry of Agriculture in June that South Korean company KOGID Cambodia will invest $150 million to grow and process corn for animal feed to be sold overseas.
Cambodian farmers planted about 141,264 hectares of red corn, with a total production output of 561,584 tonnes, in 2008, according to figures from the Ministry of Agriculture.
Ministry figures also showed that total corn production last year was 611,865 tonnes from 163,106 hectares of land, principally in Battambang, Pailin, Kampong Cham and Kandal provinces.
Cambodia trade with S Korea drops 22% in first 5 months
Cambodia trade with S Korea drops 22% in first 5 months
PHNOM PENH, Aug. 12 (Xinhua) — Trade volume between Cambodia and South Korea dropped 22.6 percent in the first five months of this year, a sign that the global economic crisis continues to grip both countries, local media reported on Wednesday.
Total volume through May reached 114 million U.S. dollars, down from 147.27 million U.S. dollars over the same period last year, the Phnom Penh Post quoted Lee Hyoung-seok, deputy director general of the South Korea Trade-Investment Promotion Agency, as saying.
Lee said that South Korea’s principal export products to Cambodia included textiles, motor vehicles, consumer electronics and chemical products, while Cambodia’s main exports were garments, agricultural products and timber.
“We are seeing a decline in volume because demand has fallen …(leading) many manufacturers to reduce production,” Lee said, adding “I forecast that for the rest of the year, bilateral trade will continue to fall at a similar rate, though things may improve next year.”
Lee added that trade volume between the two countries reached 294 million U.S. dollars last year.
Thon Virak, deputy director of the International Trade Directorate at the Ministry of Commerce, declined to comment, according to the Post, saying he did not have bilateral trade figures.
But Kang Chandararot, president of the Cambodia Institute for Development Study, said that a stabilizing South Korean economy may gradually stimulate commerce as the year progressed.
China’s investment in Cambodia fixed assets dives amid downturn
China’s investment in Cambodia fixed assets dives amid downturn
Tuesday, 11 August 2009
Nguon Sovan
The Phnom Penh Post
The Kingdom eyes more diversified involvement from Japan, whose investment grew from zero last year to just under $5 million so far in 2009
FIXED-asset investment in Cambodia by China and South Korea plunged in the first half of 2009, while Japan’s fixed assets spiked during the same period, according to a report from the Council for the Development of Cambodia released earlier this month.
Chinese investments dropped more than 93 percent, and South Korean capital declined nearly 58 percent, the report stated.
Chinese investment by fixed assets in Cambodia dropped to US$242.43 million, from $3.86 billion during the first half of last year,” the report said. “Korea was down to $109.2 million from $258.09 million last year.”
Fixed asset investments by Japan during the same period, the report noted, hit $4.76 million in the first half of this year, up from nothing last year.
Yun Heng, deputy director of the Evaluation and Incentive Department at the Cambodian Investment Board, an arm of the CDC, characterised the decline in investments as the result of smaller-scale projects this year.
“When we look at the [Chinese and Korean] figures, it’s bad, but those countries still have a similar number of ongoing projects. They’re just smaller than last year’s projects,” he said.
Yun Heng said most of the South Korean investments related to real estate, agriculture and tourism, while Chinese investments focused on real estate, garment factories, mining and hydroelectric dams.
Japanese investment typically targets tourism, Yun Heng said, but added that Cambodia hopes to see this diversify into the IT and manufacturing sectors.
Lee Hyoung-seok, deputy director general of the Korea Trade-Investment Promotion Agency, said Monday that it was inevitable during times of economic crisis that investments would drop.
“[Investment] has definitely dropped because of the global recession and the real estate downturn, so Korean investment opportunities in Cambodia are now smaller than they were two or three years ago,” Lee said. “Investors … are watching the economic environment before making further investments.”
Investment in Cambodian tourism reaches $354 mln in half year
Investment in Cambodian tourism reaches $354 mln in half year
Source: Xinhua
The investment in Cambodia’s tourism reached to about 354 million U.S. dollars in the first six months of this year and is a leading field that got the most investment, the local media said on Tuesday.
“Council for Development of Cambodia (CDC) approved about 1.22 billion U.S. dollars investment projects totally from private companies and 354 million U.S. dollars of the total is on tourism investment project,” the khmer language newspaper Rasmei Kampuchea quoted the document from CDC as saying.
Agricultural field stands second row after tourism with 323 million U.S. dollars and next field is industry with 303 million U.S. dollars.
In total, Cambodia received 53 investment projects for the first half year and tourism field attracted seven projects, while agri-industry has 12 projects, garment industry with 14 projects and three in energy projects.
If we consider on the projects for the first six month of this year, it increases four projects but the investment capital went down about 3.2 billion U.S. dollars compared with the same period of last year, it said, adding that for first six month of last year, Cambodia yielded with 49 investment projects with about 4.43billion U.S. dollar.
Millicom to sell Cambodian operations
Tuesday, August 11, 2009
(08-11) 04:59 PDT NEW YORK, (AP)
Luxembourg-based wireless service provider Millicom International Cellular SA said Tuesday it agreed to sell its Cambodian operations to the Royal Group, its partner in Cambodia, for $346 million
This transaction comprises Millicom’s 58.4 percent holdings in CamGSM, Royal Telecam International and Cambodia Broadcasting Services, the company said.
The deal is expected to close before the end of the year.
Millicom provides cell phone service in developing regions in Asia, Africa and Latin America that have limited wireline infrastructure.
Cambodia launches new airline
Cambodia launches new airline
Tuesday July 28, 2009
Source: ATW Daily News
Cambodia Angkor Air, a joint venture between the Cambodian government (51%) and Vietnam Airlines (49%), was launched at a Phnom Penh ceremony yesterday. Officials said the startup is capitalized at $100 million and will begin flying today to Siem Reap and Ho Chi Minh City with two ATR 72s, according to press reports from the capital. Deputy Prime Minister Sok An said the carrier will operate an A321 in the “near future,” and eventually will serve Sihanoukville and Bangkok. The country’s Royal Air Cambodge shut down in 2001.
Vietnam-US joint venture to build cement plant in Cambodia
HANOI, Jun 8, 2009 (Asia In Focus) — A joint venture between the PAUL CHAM CO LTD and the US-based PHI GROUP will invest US$51 million in a cement plant in Cambodia’s Stung Treng Province, it was announced on Wednesday. Phnom Penh-based Paul Cham is 51 per cent-owned by the Vietnam-headquartered T&T COMPANY.
* Paul Cham director Nguyen Thi Cham said the feasibility study for the cement project had been completed and that construction of the plant would start in July.
* The cement factory and limestone quarry in Stung Treng Province’s Thala Barivath District will turn out its first products early next year, she added.
Source: http://ki-media.blogspot.com/2009/06/vietnam-us-joint-venture-to-build.html
Cambodia passes $2.8b public investment plan
Source: (Xinhua)
Updated: 2009-06-01 11:41
PHNOM PENH — Cambodia’s Council of Ministers approved a three-year plan drafted by the Ministry of Planning to spend US$2.8 billion on public investment from 2010 to the end of 2012, national media reported on Monday.
The plan related to 536 projects, 389 of which are direct investment with the remainder technical assistance projects, the Cambodia Daily quoted the council as saying.
Minister of Planning Chhay Than said earlier that the majority of the budget would be spent on infrastructure and irrigation systems to boost agricultural production.
The list of planned projects also includes the construction of major roadways, hospitals and schools, Than said.
The new three-year plan is part of the broader national development planning strategy 2006 to 2010, which was approved by the National Assembly in May 2006.
The entire state budget approved for 2009 totals approximately US$1.9 billion, meaning that each year the proposed infrastructure projects would consume the equivalent of about half of the current national budget.
