Cambodia Morning News For August 2

Cambodia facing economic peril
The ecosystem of the gigantic lake whose annual flood cycle has been the pulse of Cambodia for millennia, and on which millions depend for food and irrigation is set to spectacularly collapse, throwing into question everything from Cambodia’s food security, to its economy, to its demographics.
— The Star Online

Banking sector FDI spikes on new banks and higher caps
Inflows of foreign capital into the Kingdom’s banking sector nearly doubled during the first half of the year as two heavyweight players entered the local market and lending institutions responded to revised minimum capital requirements, a central bank official said yesterday.
— The Phnom Penh Post

Cambodia PM orders closure of child sex slave charity
Cambodia’s premier Hun Sen today ordered a Christian charity that rescues child sex slaves to be shut down, after it featured in a recent CNN report that he described as an “insult” to his country
— Malay Mail Online

Malaysia real estate firm to open Kingdom branch
One of Malaysia’s largest real estate consultancy firms, Rahim & Co International Bhd, unveiled plans to set up shop in Cambodia as part of an Asian expansion strategy, according to a Malaysian media report.
— The Phnom Penh Post

Bangladesh to buy Cambodian rice
Bangladesh will import rice from Cambodia. The two countries are expected reach an agreement tomorrow, according to an official in the Cambodian Commerce Ministry.
— The Financial Express

Local carrier receives international safety certification
Cambodia’s national carrier Cambodia Angkor Air announced on Friday that it received the IATA Operational Safety Audit (IOSA) certificate, describing it as firm recognition that the airline was in compliance with international quality and safety standards.
— The Phnom Penh Post

Singapore Company Agrees to Build on Boeng Kak Lake Land
A company run by Singaporean investors has entered into a $71 million joint venture agreement to develop 1 hectare of land on what was previously Boeng Kak lake, though the company’s Cambodia representative on Tuesday said the deal was not yet finalized.
— The Cambodia Daily (paywall)

Illegal Construction at Angkor Site to be taken Down
Siem Reap provincial administration and the Apsara Authority issued a formal announcement to remove illegal construction in Zone One and Zone Two at Angkor Site from August 10.
— Fresh News

Foreign Minister to Attend ASEAN Meeting in the Philippines
Minister of Foreign Affairs and International Cooperation, Prak Sokhonn, is scheduled to participate in the ASEAN Foreign Ministers’ Meeting and other related meetings in Manila from August 5-8.
— Fresh News

Arrest over fake kidnap rumours
A teacher and opposition activist who made spurious claims on Facebook that two Vietnamese men had kidnapped children and cut out their kidneys and eyes is now facing up to two years in prison after he was arrested on Saturday and charged with spreading false information.
— The Phnom Penh Post

Worker Recruitment Agency Shut by Anti-Trafficking Department
A Phnom Penh labor recruitment agency was shut and three of its employees were arrested on Tuesday after the firm allegedly took money from would-be migrant workers and failed to set them up with jobs abroad, an official said.
— The Cambodia Daily (paywall)

Anti-Drug Authority Asks Courts to Speed Up Drug Prosecutions
Anti-drug authority officials on Tuesday said they were seeking legal means to speed up court procedures and liquidate the seized assets of suspected drug traffickers before they are convicted to help fund the government’s ongoing efforts to combat drugs.
— The Cambodia Daily (paywall)

Cambodian Girls Selected to Compete in Google App Competition
Their “Cambodia Identity Product” mobile app was selected from over 1,100 apps worldwide and the girls will compete against other teams from India, Canada, the United States and Hong Kong.
— VOA Khmer
Feature photo Max Pixel
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.