Cambodia Morning News For August 24

Cambodia Morning News For August 24

Cambodia morning newsThe Southern Economic Corridor: Boosting Trade and Investment in Cambodia
Stretching eastwards from Myanmar through Thailand and Cambodia to Vietnam, the Southern Economic Corridor (SEC) aims to further integrate the Association of Southeast Asian Nations (ASEAN) by improving connectivity and trade.
— Asean Briefing

Cambodia threatens purge of critical media and US charity
Cambodia has threatened to close three foreign media outlets and a US charity, accusing them of operating illegally or owing millions in back taxes, in what appears to be a coordinated purge of government critics.
—The Guardian

Thousands of migrants must depart Thailand
More than 3,300 undocumented Cambodian migrant workers, including children, have been deemed ineligible for legal status in interviews with the Thai Labour Ministry and will now have to leave the country, according to Thailand’s Employment Department.
— The Phnom Penh Post

Import and Export Procedures in Laos – Best Practices
Officially the Lao Peoples’ Democratic Republic (Lao PDR), landlocked Laos borders China, Cambodia, Myanmar, Thailand, and Vietnam. In 2015, Laos exported US$3.81 billion worth of goods and imported US$6.54 billion.
—Asean Briefing

More Migrant Workers Returned from Malaysia
Eleven more Cambodians who went to Malaysia seeking work have been repatriated in the past week, according to a pair of statements released by the Foreign Affairs Ministry on Wednesday.
—The Cambodia Daily

UK Tutoring Learn English

Japanese insurer opens new representative office
Japanese insurer Tokio Marine & Nichido Fire Insurance Co has opened a representative office in Phnom Penh to explore the insurance market in Cambodia and offer its non-life insurance products to Japanese companies operating in the Kingdom through referrals by its affiliated local insurers, according to a company press release.
— The Phnom Penh Post

Singapore firm inks deal to run Cambodia’s first oil field
Cambodia on Wednesday (Aug 23) signed a deal with a Singaporean energy company to develop its first-ever oil field, the latest move in the country’s much-delayed plan to become an oil-producing nation.
— Channel NewsAsia

Daily calls for ‘true audit’ as Tax Department refutes challenges
The letter to the Tax Department’s Kong Vibol, who has repeatedly said the Daily will be shut down on September 4 if it doesn’t pay $6.3 million in taxes and penalties allegedly accrued over the last decade, follows a speech on Tuesday by Prime Minister Hun Sen in which he called the paper the “chief thief”, telling it to “pack your things and leave” if it didn’t pay up.
— The Phnom Penh Post

Upbeat OPIC eyes Kingdom firms for future investment
The Overseas Private Investment Corporation (OPIC) is “optimistic” about its recent investments in Cambodia’s financial sector, a representative said yesterday, adding that the US government’s development finance agency hopes to eventually direct some of its lending facilities to local SMEs.
— The Phnom Penh Post

Election to have little impact on banks: MSP
Next year’s national election is unlikely to slow the rapid pace of bank lending growth but could put a temporary crimp in deposits, though the sector is expected to have sufficient liquidity to absorb the impact, according to a report released yesterday.
— The Phnom Penh Post


Feature photo Asian Development Bank
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).


Cambodia morning news by AEC News Today is your one stop source for Cambodia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.



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