Cambodia Morning News For October 24

Criticism mounts as Cambodia government moves closer to dissolving opposition
More than 50 rights groups called on chairs of the Paris Peace Agreement to reconvene to ensure that the “democratic vision for Cambodia outlined in the agreement is not completely forsaken”.
— Channel News Asia

Cambodian PM says main opposition party will be dissolved
Cambodian Prime Minister Hun Sen said on Monday it was “a fact” that the main opposition party would be dissolved as he spoke on the anniversary of the peace agreement that established multiparty democracy.
— Reuters

IMF predicts slowdown on horizon for growth figures
Cambodia’s economic growth will remain on course this year but will likely slow in the coming years to 6 percent as investment tapers off and credit growth tightens, according to an updated note by the International Monetary Fund (IMF) released on Friday.
— The Phnom Penh Post

NGOs Call For Action on Anniversary of Paris Accord Amid ‘Deterioration’ in Cambodia
A “severe deterioration in the state of human rights and democracy” in Cambodia requires a reconvening of the Paris Peace Conference, a group of 55 nongovernmental organizations said Monday, in a letter marking the 26th anniversary of accords that ended conflict in the Southeast Asian nation.
— Radio Free Asia

France, RI obligated to convene talks on Cambodia
More than four dozen regional and international organizations are calling on the leaders of Indonesia and France, as the co-chairs of the 1991 Paris Peace Conference that ended decades of conflict in Cambodia, to help ensure the Southeast Asian nation remains a democracy.
— The Jakarta Post

Cambodia should strengthen its fiscal position against heightened risk, says IMF
Cambodia should prepare for greater fiscal risk from a more vulnerable financial sector and weaker-than-expected growth, the International Monetary Fund has said.
— Public Finance International

Oz nonprofit buys stake in local startup Spean Luy
Australia’s Good Return, a nonprofit organisation that promotes financial inclusion and responsible lending, has purchased a 5 percent stake in Spean Luy, a startup online platform that allows users to compare interest rates offered on loan products across various Cambodian lenders.
— The Phnom Penh Post

Rice firms sign with RDB for Kampong Thom mill
Local rice milling and export companies Khmer Foods Group (Co) Ltd and Amru Rice Cambodia (Co) Ltd signed an agreement with the Rural Development Bank (RDB) on Friday of last week to solidify plans for the completion of the anticipated rice storage warehouses and rice drying facilities in Kampong Thom, Prey Veng and Takeo provinces by January of next year.
— The Phnom Penh Post

KrisEnergy makes FID on Apsara oil development offshore Cambodia
KrisEnergy, a Singapore-listed oil and gas company has made a final investment decision (FID) for Phase 1A of the Apsara oil field development project offshore Cambodia.
— Energy Business Review

NBC tests mechanism to link Kingdom’s major banks
The central bank officially held a soft launch last Friday for its central shared switch mechanism, which connects account records of three of the Kingdom’s leading financial institutions, allowing them to operate ATM and point-of-sale (POS) terminals in tandem.
— The Phnom Penh Post

New MoU With Thailand On Trade Across Borders
Cambodia and Thailand will sign a Memorandum of Understanding (MoU) on cross-border trade in early November to comply with Thailand’s new customs law, which is due to come into effect on November 13.
— B2B Cambodia

Smart snatches up Major Cineplex deal from rival
Aeon Mall’s Major Cineplex officially ended a three-year partnership with Cellcard as its primary sponsor for both its theatre and its Blu-O bowling lanes on Friday by signing a new partnership agreement with mobile operator Smart Axiata.
— The Phnom Penh Post

Feature photo World Bank Photo Collection/Chhor Sokunthea
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.