Cambodia Morning News For March 29

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.

Is The Phnom Penh Property Market Headed For a Massive Crash?
Phnom Penh’s mushrooming property market is set for a massive crash with new apartment prices set to plummet by up to 50 per cent over the course of this year compared with March 2016 prices. At least so says the Phnom Penh based director of EPenh, Nigel Miranda, in the Cambodian capital.
— AEC News Today

Cambodia, US duel over Vietnam War debt
Since US President Donald Trump’s inauguration in January, Cambodian Prime Minister Hun Sen has repeatedly called on the new American leader – often personally – to cancel a US$500 million debt owed dating back to the Vietnam War.
— Asia Times

Hoping to net more sea visits
The growing number of foreign visitors arriving by sea represents a promising source of tourism revenue for Cambodia, though limited port and tourism infrastructure has hampered its realisation, tourism stakeholders said yesterday.
— The Phnom Penh Post

Fund to fuel digital startups
Cambodian mobile operator Smart Axiata launched a $5 million venture capital fund yesterday that will seek to identify, fund and nurture local digital services companies and startups.
— The Phnom Penh Post

Smart Axiata Supports Startups With $5M Investment Fund
With a lack of capital stifling the development of domestic digital innovation, one of the country’s largest mobile operators has teamed up with an investment consultancy to create a $5 million startup fund for Cambodian companies.
— The Cambodia Daily (paywall)

Cambodia bans breast milk exports
Cambodia on Tuesday banned the export of breast milk, putting a stop to the business of a U.S.-based company that had been selling the milk in the United States.
— Reuters

Cambodia honors 2 Chinese peacekeepers killed in 1993 attack
As the annual Tomb-Sweeping Day approaches, Cambodia and China on Tuesday jointly commemorated two Chinese UN peacekeepers who were killed in a blast here 24 years ago.
— Global Times

Amid Korean Tensions, Could Cambodia Play a Mediation Role?
Almost two decades ago, South Korea’s president, Kim Dae Jung, asked the Cambodian King to help mediate in talks with the North.
— VOA

How a bamboo box could help Cambodian farmers save money
Recognising that the country’s rural population had been largely overlooked by Phnom Penh’s emerging startup community, in August 2016 Moung Vandy and his three business partners started Eco-Fresh Box, a project focused on improving the storage of fruits and vegetables.
— Southeast Asia Globe

Cambodian telco launches $5m fund for local tech startups
The Smart Axiata Digital Innovation Fund will provide guidance and business development – as well as investments ranging from $25,000 to $500,000 – to Cambodian startups in the digital service sector
— Southeast Asia Globe

Coastal economy rises on tourist tide
Preah Sihanouk province welcomed nearly 2.4 million tourists in 2016, generating $96 million in revenue, following a significant rise in domestic and international tourist arrivals, a tourism official said yesterday.
— The Phnom Penh Post

Exports of logs double in 2016
Despite a ban on the export of timber to Vietnam and the creation of a much-publicised anti-logging task force, Cambodia last year still exported nearly $33 million dollars’ worth of unprocessed logs to its eastern neighbour, a volume more than double that of 2015, according to Vietnamese customs data.
— The Phnom Penh Post

Government Recalls Fungicide to Conform to New EU Rules
The government has ordered a nationwide recall of the fungicide tricyclazole to keep its rice exports eligible for the important E.U. market, but said it might not get the chemical out of its supplies in time to meet the bloc’s July deadline.
— The Cambodia Daily (paywall)

Number of Drug Users Going to Rehab Too Low, Officials Say
The number of drug users seeking rehabilitation services is too low, the country’s anti-drug czar declared on Tuesday, saying that the government was considering a plan that would give police the authority to bypass courts and send users directly to rehab.
— The Cambodia Daily (paywall)

Controversial Political Parties Law Change Prompts Concerns Among Opposition Supporters in U.S.
Controversial amendments to Cambodia’s law governing political parties has caused concern among opposition supporters in the United States, who fear that they could be barred from funding the Cambodia National Rescue Party under the new rules.
— VOA

Mothers of Murdered Analyst and His Convicted Killer Question Cambodia Court Ruling
The mothers of murdered political analyst Kem Ley and his convicted slayer, Oueth Ang, have both questioned a Cambodian court’s recent decision to sentence the latter to life in prison last week, saying it is unlikely he is solely responsible for the killing.
— Radio Free Asia

Feature photo John Le Fevre
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