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CONTENTS

LEAD STORY: The Cambodian Tiger Roars           CAMBODIA: Cambodia Business Wants Better Arbitration           CAMBODIA: Moving From Dollar To Riel: When, Not If           CAMBODIA: Cambodia's Flooded by Car Imports           Cambodia Railway: Cambodia-Thai rail link 'will boost Cambodia exports'           REGIONAL: Philippine 'Strongman' Romps Home. What now?           REGIONAL: Kipling to Jinnah: Mumbai's crumbling colonial homes           Lifestyle: Balancing Life           FOOD:Can We Be Australian Without Eating Indigenous Food?           CHINA: China's Debt Mountain           INDIA: Forget China, India Is Beginning To Drive Oil Demand           Global Business:Promise of e-Procurement            GLOBAL: American Election Ranked Worst Among Western Democracies. Heres Why            GLOBAL:Hire Millions More Women, Boost Growth, World Bank Tells Clothing Industry           KEY INDICATORS

Cambodian Business Review
 




 LEAD STORY   The Cambodian Tiger Roars

Cambodia is Asia's new tiger economy, with one of the fastest growth rates in the world and an increasing industrial base as part of "factory Asia".

"After decades of conflict and poverty that captured the world's attention, Cambodia has enjoyed five years of high economic growth that is moving toward becoming one of the new tiger economies of Asia," the Asian Development Bank says.

"Cambodia's large supply of inexpensive, low-skilled labor has attracted substantial foreign direct investment into the production of garments and footwear for export', where monthly salaries average are just $140 per month."

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  CAMBODIA  

Moving From Dollar To Riel: When, Not If

At funerals, it has to be ghost dollars. Not ghost riel. The traditional burning of valuables and items needed in the afterlife includes ghost dollar notes, rather than the riel.

But that is changing. With the currency strong and stable and the economy one of the world's fastest growing at an average 7.7 percent for the past decade, the central bank wants to shift the economy away from the dollar.

Increasingly in the markets and on the streets, people pay in dollars and get change back in riel - roughly 4,000 to the dollar. Still with an apology, but less so than even a year ago.

But while the central bank is pushing a shift to a riel-based economy, director general of the National Bank of Cambodia (NBC) Chea Serey ...

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  CAMBODIA RAILWAY  

Cambodia-Thai Rail link 'will boost Cambodia exports'

Cambodia is confident trains will be running between the Kingdom and Thailand by the end of the year, with only a few kilometres of construction remaining to be completed on either side of the border.

As exporters, particularly the rice industry, complain of high trucking and sea transport costs hurting their competitiveness, the rail service is likely to be a major boost – each freight train carrying the equivalent of about 100 lorries of freight.

"The train has a lot of benefits compared with trucks since the cargo can be much larger and using the train can also save the roads from being damaged by heavily loaded and overweight trucks," says the director of the Transport Ministry's rail department, Ly Borin.

"Using the train can also reduce traffic jams and accidents. The train, for ...

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  REGIONAL  

Philippine 'Strongman' Romps Home. What now?

Rodrigo Duterte, mayor of Davao City in the Philippines Mindanao has been elected president.

His path to the presidency was controversial, riddled with expletives and reduced his detractors to mudslinging and comparisons with Hitler. But the mud failed to stick.

Duterte came to the presidential race late, prompted by a Senatorial Electoral Tribunal decision to allow Senator Grace Poe to run for the presidency. Her presidential aspirations had been dogged by her background as a foundling, her temporary conversion to US citizenship and her alleged failure to meet the residency requirements for government office. Despite the tribunal's verdict, Duterte threw his hat in the ring, saying he didn't want an "American" to be president of the Philippines. ...

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Germany and Cambodia:
21 Years of Warm Ties

 

It has been 21 years that Germany has re-bridged diplomacy with Cambodia via the establishment of Germany’s official relations with the kingdom's Supreme National Council (SNC) in 1992 after the initial diplomacy was...

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