Cambodia Morning News For April 7

Cambodia Morning News For April 7

Cambodia morning news

Uber gears up to enter market
Representatives from global ride-hailing behemoth Uber confirmed the company’s interest in starting operations in Cambodia during a meeting this week with Transportation Minister Sun Chanthol, according to one of the minister’s aides.
The Phnom Penh Post

Economy to face new challenges
Cambodia’s economic growth remained strong last year though the Kingdom must now address major systemic challenges to build on its ascension into lower- middle income status in order to maintain healthy levels of development, the Asian Development Bank (ADB) said in its annual report yesterday.
The Phnom Penh Post

Annual Infrastructure Spending Must Top $500M, PM Says
Cambodia will need to spend between $500 million and $700 million annually on infrastructure to maintain its current rate of economic growth, Prime Minister Hun Sen said on Thursday, giving a special mention to China for its recent investments.
The Cambodia Daily (paywall)

Transform Economy for Continued Robust Growth, ADB Says
Cambodia cannot continue to rely on low wages to attract investment and must switch to developing skills, infrastructure and innovative industries in order to continue its record of robust economic growth, the Asian Development Bank said on Thursday.
The Cambodia Daily (paywall)

US pledges $1.8m for Cambodian elections, joining China, the EU and Japan
The US has announced a two-year grant of $1.8 million to go toward Cambodia’s upcoming elections in 2017 and 2018, in what a monitor said could give Washington more sway during tense political times.
Southeast Asia Globe

ADB predicts rosier growth for Cambodia in 2017
Cambodia’s economy is expected to grow by 7.1 percent this year, a 0.1 percentage point higher than that of last year, said the Asian Development Bank (ADB)’s outlook report on Thursday.

UNIDO chief pledges to encourage investors to Cambodia
Li Yong, director general of the United Nations Industrial Development Organization (UNIDO), pledged on Thursday to help encourage foreign investors to Cambodia, a senior Cambodian official said.

Cambodia eyes Silk Road connectivity
Cambodian Prime Minister Hun Sen says he’ll focus on securing “connectivity infrastructure” to China’s One Belt, One Road project when he attends a major project forum in Beijing next month, reports the China Daily.
Asia Times

PM confirms sky is the limit for twin towers
At the official inauguration of the Hun Sen Boulevard on Monday, the prime minister proudly and publicly acknowledged the go-ahead for the Thai Boon Roong Twin Trade Center – the 133-storey twin skyscrapers that, when announced in February last year, was largely doubted by industry experts and the public alike.
The Phnom Penh Post

Khmer new year, Khmer new property
While the Kingdom sees the annual provincial voyage undertaken by thousands of Cambodians travelling back to their hometowns in the upcoming Khmer New Year, industry experts are predicting the increase of property transactions when the dust settles.
The Phnom Penh Post

MFI Interest Rate Cap a Signal to Slow Down
The government’s cap on microfinance interest rates— largely panned as a clumsy policy that could cripple lenders—can nevertheless be an effective signal to the industry to slow down as the public’s indebtedness rises, the Asian Development Bank’s country director said on Thursday.
The Cambodia Daily (paywall)

Chevron Asks Court to Quash Request for Kem Ley Murder Footage
Chevron, the oil giant, has called on a U.S. court to dismiss a case brought by former opposition leader Sam Rainsy, who is hoping to force the firm to release footage of the murder of prominent political commentator Kem Ley, who was killed at one of its gas stations in Cambodia last year.

Cambodia Cancels U.S. Military Aid Program as China Ties Expand
Cambodia has scrapped a long-standing U.S. military aid program amid a diplomatic shift towards Beijing.

Experts: Perceived Injustice Fuels Mob Justice in Cambodia
Videos of a mob beating last week went viral on Cambodian social media as police quelled the violence.

Cambodia’s Hun Sen to Request Chinese Aid For Thai Border Road
Cambodia’s Prime Minister Hun Sen on Thursday said he plans to ask China for an aid package to build a road along his country’s border with Thailand, despite concerns over the lack of transparency associated with previous
donations provided by Beijing.
Radio Free Asia

US Aid Agency Awards Grant to Cambodia’s Electoral Body Ahead of Polls
The U.S. Agency for International Development (USAID) announced Thursday that it will provide Cambodia’s National Election Committee (NEC) with a grant of U.S. $1.8 million to support the electoral body’s work during upcoming commune and general elections in 2017 and 2018.
Radio Free Asia

Cambodia scraps US military aid programme, amid pivot towards China
Cambodia has scrapped a long-running United States military aid programme in the latest sign of a South-east Asian nation tilting away from Washington and towards Beijing.
Today Online

Tension Flares Up Again on Cambodia’s Border With Laos
Dozens of Laotian soldiers started building a post on a disputed tract of land along the border on Thursday, breaking a deal made just a day earlier between Laos and Cambodia to withdraw forces until after the Khmer New Year.
The Cambodia Daily (paywall)


Feature photo John Le Fevre
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