Officially designated “oknha” — tycoons who have donated hundreds of thousands of dollars to the government — who are also in the military will be asked to choose to be either oknha or soldier, Defense Minister Tea Banh said.
A new state-owned bank with an initial investment of $100 million will be established to provide low-interest loans to small businesses and address what an industry association calls a capital shortage in the sector, the Industry Ministry said.
The World Bank has warned of the economic risks of Cambodia losing preferential trade access to the European Union, and urged the government to be ready with measures to mitigate the potential shocks to the economy.
Prime Minister Hun Sen has rescinded business tycoon Kith Meng’s 30-year concession to exclusively operate Cambodia’s railways.
Top business representatives including Kith Meng and Bretton Sciaroni raised corruption, electricity prices and the potential loss of European markets for export as the most pressing concerns for Cambodian businesses during the high-level Government-Private Sector Forum with Prime Minister Hun Sen on Friday.
The Commerce Ministry asked a visiting Washington State senator to encourage more U.S. investment to Cambodia, saying there were many opportunities for investors.
Commerce Minister Pan Sorasak has asked a visiting Chinese delegation to create a Khmer-language version of the popular app WeChat to help promote e-commerce in Cambodia, according to an announcement.
American businesses in Cambodia have published an open letter to U.S. Congress arguing against withdrawing trade preferences in light of perceived political injustices, saying Cambodian workers and American businesses would suffer.
Interior Minister Sar Kheng has issued a blunt warning that he will not longer attend ceremonies to burn counterfeit goods if no one is arrested over those goods.
A day after police arrested the owner of the Rock Entertainment Center, Kith Theang, over a recent 50 kilogram drug bust, Interior Minister Sar Kheng on Monday ordered the nation’s police forces to improve their efficiency in stamping out the trade and use of drugs.
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