Tuesday, April 22, 2014

Cambodia's foreign trade up 15% amid ongoing political row

English.news.cn   2014-04-22 17:25:09
PHNOM PENH, April 22 (Xinhua) -- Cambodia's trade volume with foreign countries has increased by 15 percent in the first quarter of 2014 even though the internal conflict between the ruling and opposition parties over July election results remains unsolved.
The figures of the Commerce Ministry showed Tuesday that the Southeast Asian nation's total trade volume was valued at 4.46 billion U.S. dollars during the January-March period this year, up 15 percent from 3.88 billion U.S. dollars in the same period last year.
Of the amount, the country had exported products in equivalent to 1.99 billion U.S. dollars, up 19 percent year-on-year, while it had imported goods in a total amount of 2.47 billion U.S. dollars, up 12 percent year-on-year, the figures said.
The country's main trading partners are European countries, the United States, China, South Korea, Japan, Thailand, Vietnam, Singapore and Malaysia.
Garment products accounted for more than 80 percent of the country's total exports.
Commerce Ministry spokesman Ken Ratha said the growth in trade volume, amid continued political row, was thanks to good relations and cooperation between Cambodia and other countries.
"In general, business and investment climate is good even though the post-election conflict remains unsolved," he said. " The country has maintained good political stability and sound macro-economy, and investors still have strong confidence in the current government led by Prime Minister Hun Sen."
Political spat between the Prime Minister Hun Sen's ruling party and the Sam Rainsy's opposition party has simmered since the election results in July last year gave victory to Hun Sen's party.
Claiming serious ballot-rigging, the opposition has boycotted parliament since the first session in September to demand an early election.
Editor: Yang Yi

Friday, April 18, 2014

Cambodian cabinet approves 3 draft laws to strengthen judicial system

English.news.cn   2014-04-18 20:07:40
PHNOM PENH, April 18 (Xinhua) -- The Council of Ministers of Cambodia on Friday passed three draft laws, designed to strengthen the country's longtime-criticized judicial system, according to a government media statement.
The green light was given during a weekly cabinet meeting, which was chaired by Prime Minister Hun Sen.
The three draft laws included one on the organization of the judiciary, one on the organization and function of the Supreme Council of Magistracy, and a Statutes of Judges and Prosecutors.
"The laws aim to guarantee the independence of the judiciary, maintain discipline of judges, and to assure the good functioning of Cambodian courts," the statement said.
The laws, drafted by the Ministry of Justice with French legal experts' aid, are based on experiences of countries with advanced rule of law, it said.
"The compilation of the three laws is an important beginning of legal and judicial reforms, which are an integral part of the government's rectangular strategy," it said. "The laws will be a fundamental base for the government to achieve its vision in strengthening good governance and the rule of law."
According to the Constitution, the draft laws need to be approved by the National Assembly and finally reviewed by the Senate and signed by King Norodom Sihamoni before being promulgated.
Editor: chengyang

Cambodia's 2nd IPO delayed for three weeks: company statement


English.news.cn   2014-04-18 18:36:31
PHNOM PENH, April 18 (Xinhua) -- Grand Twins International ( Cambodia) Co. Ltd., Phnom Penh-based garment maker for U.S. athletic brands, announced Friday that it would delay its listing on the Cambodia Securities Exchange (CSX) by three weeks due to a hold-up in getting regulatory approval.
The company's original listing plan is expected on May 8, but now it sets for listing on May 29, according to its statement.
"Grand Twins International has completed the book building process successfully and is scheduled to announce the result on April 11, but the announcement of the result cannot be made as expected because permission from the Securities and Exchange Commission of Cambodia is required," the statement said.
The firm said it will announce its investors on April 24 and its share subscribers on May 23.
Grand Twins International, if successfully listed, will be the second company to go public on the fledgling stock market since the first initial public offering (IPO) of the state-owned Phnom Penh Water Supply Authority in April 2012.
Stanley Shen, spokesman for Grand Twins International, which produces clothes for Adidas and Reebok, said last month that the company would sell 8 million shares, or 20 percent of the firm's total 40 million shares, with an initial share price between 1.85 U.S. dollars and 3.5 U.S. dollars.
Editor: chengyang

Cambodia, U.S. to conduct military drill next week

English.news.cn   2014-04-18 12:41:03
PHNOM PENH, April 18 (Xinhua) -- Cambodia and the United States will hold a joint military exercise dubbed "Angkor Sentinel 2014" next week, aiming to build capacity for Cambodian armed forces and bolster bilateral military ties.
The annual exercise will last for ten days (April 21-30) at the Training Centre for Multinational Peacekeeping Forces, about 70 km west of capital Phnom Penh.
According to a schedule released by the Army Headquarters on Friday, Cambodian Prime Minister Hun Sen's eldest son, Lt. Gen. Hun Manet, deputy commander of the Army Headquarters, will open the exercise on Monday.
Angkor Sentinel 2014 is a major, bilateral exercise that persists with a substantial, multi-year effort by U.S. Army Pacific and U.S. Pacific Command to actively engage the Royal Cambodian Armed Forces.
It is designed to promote regional peace and security, focusing on peacekeeping and humanitarian assistance operations.
According to the National Television of Cambodia, Gen. Chan Sopheaktra, deputy commander of the Army Headquarters, said recently that the exercise would be a good opportunity to build capacity for Cambodian armed forces and close friendship relations between Cambodian and U.S. military personnel.
"The exercise will be also a good chance for the two armies to exchange experience, tactics, techniques and expertise," he said.
The first Angkor Sentinel exercise was held in 2010. Last year' s event involved over 230 Cambodian armed forces and nearly 80 U.S. military personnel.
Editor: Shen Qing

Thursday, April 10, 2014

Cambodian opposition chief says no pact with ruling party this Friday

English.news.cn   2014-04-10 19:54:18
PHNOM PENH, April 10 (Xinhua) -- Cambodia's main opposition party leader Sam Rainsy said Thursday that no agreement would be signed with the Prime Minister Hun Sen's ruling Cambodian People's Party (CPP) on Friday.
"Up to this hour, the two parties have not totally agreed on the draft agreement, we've just achieved about 80 percent of the draft agreement," Sam Rainsy, president of the opposition Cambodia National Rescue Party (CNRP), told a press conference Thursday afternoon.
"We need to further negotiate," he said. "The sticking point is the date for a reelection."
His remarks came after local media reported that Sam Rainsy and Prime Minister Hun Sen made a tentative plan on Wednesday to appear before King Norodom Sihamoni on Friday to sign a deal ending the CNRP's boycott of its 55 National Assembly seats.
Sam Rainsy said the two parties will probably hold a top-level meeting in the Royal Palace in the fourth week of this month when CNRP's Vice-President Kem Sokha returns from a mission in the United States.
He said for CNRP, any top-level decision or agreement requires a consensus from Kem Sokha.
Sam Rainsy said that on Friday, he would travel to meet party supporters in Kampong Speu Province in the morning and in Siem Reap Province in the afternoon.
Prime Minister Hun Sen said Thursday that he held a telephone conversation with Sam Rainsy on Wednesday morning over the current political dispute.
He said the talk mainly focused on an electoral reform and a date for a general election.
"We verbally agreed to determine February 2018 for a general election, meaning that the election will be held in five months earlier than the planned July 2018," the premier said during a graduation ceremony for about 1,800 students at the Human Resources University.
However, CNRP's Vice-President Kem Sokha later disagreed with the agreement, according to Hun Sen.
"If the two parties cannot reach an agreement to end the current political dispute, Kem Sokha will be the only person to be blamed for the failure," the premier said.
During a parliamentary election in July last year, the Prime Minister Hun Sen's ruling CPP won 68 seats against 55 seats for the CNRP.
Claiming irregularities during the poll, the CNRP has boycotted parliament since September last year to demand an electoral reform and an early election.
Editor: Fu Peng

Saturday, April 5, 2014

Cambodian gov't mulls strict measure against opposition chief over King insult


English.news.cn   2014-04-05 20:16:50
PHNOM PENH, April 5 (Xinhua) -- The Cambodian government said Saturday that it is going to take a firm measure against the country's main opposition leader Sam Rainsy over his offensive remarks on the nation's King Norodom Sihamoni.
"The government will consider a firm measure against Sam Rainsy, president of the Cambodia National Rescue Party (CNRP), in order to maintain and protect the motto: 'Nation, Religion, King' and national dignity," the government said in a statement.
The statement came after King Sihamoni wrote a congratulatory message to the National Assembly on Tuesday during the opening of the second plenary session after a three-month break.
In the royal message, the King said he hopes the parliament, which represents the entire Cambodian people, will take on the challenges it faces by strictly adhering to a democratic and multiparty basis.
A day later, Sam Rainsy appeared to disagree with the King's assessment.
In a letter to the King, Sam Rainsy said the National Assembly, formed on Sept. 23, 2013, has only the lawmakers from the Prime Minister Hun Sen's Cambodian People's Party (CPP), and it does not represent the entire Cambodian people because the Constitution requires the swearing-in of 120 lawmakers to constitute a new mandate.
The government's statement on Saturday said Sam Rainsy's words have severely affected the King's reputation and violated the Constitution's Article 7 that stated that the King shall be inviolable.
"Sam Rainsy's remarks is an improper violation on the King and is the trampling on the 'rule of law' principle in Cambodia," the statement said, accusing Sam Rainsy of inciting the King to act against the Constitution.
"Such incitement has the same cost as a constitutional coup," it said. "Sam Rainsy's offensive act could face legal punishment. "
The government said according to the law, the National Assembly needs the quorum of a 50 percent plus one majority only.
Dispute between the Prime Minister Hun Sen's CPP and the Sam Rainsy's CNRP has simmered since the July election results showed that the CPP won 68 parliamentary seats against 55 seats for the CNRP.
Having boycotted parliament since September, the CNRP is demanding either a probe into election irregularities or a reelection, along with deep electoral reform.
However, Hun Sen has said that he will not call a reelection because it is unconstitutional.
Editor: Fu Peng

Thursday, April 3, 2014

Road accidents kill 576 people in Cambodia in first 3 months


English.news.cn   2014-04-03 11:16:55
PHNOM PENH, April 3 (Xinhua) -- The number of road fatalities in Cambodia rose to 576 people in the first three months of 2014, up 3.5 percent from the 556 deaths for the same period last year, said a report by the Interior Ministry's public order department Thursday.
Some 1,273 cases of road accidents were reported during the January-March period, up 10 percent from 1,159 cases recorded the same period last year, the report said.
Besides the deaths, the accidents had injured 2,115 others, a rise of 13 percent on year, it said.
"Main causes of the accidents are over-speed driving, alcohol driving, neglect driving and traffic law violation," Preap Chan Vibol, director of the transport department at the Ministry of Public Work and Transportation, said Thursday.
He said the country currently has about 410,000 registered cars, trucks and buses, and 2 million registered motorcycles.
Traffic accidents claimed 1,950 human lives in 2013. The Ministry of Public Work and Transportation estimated that the accidents cost the country about 300 million U.S. dollars a year.
Editor: Fu Peng