DAP: The breaking news in Cambodia: “Gold prices in Cambodia hit record high” plus 9 more

PHNOM PENH, Aug. 4 -- Cambodia's GDP (Gross Domestic Product) is expected to grow over 8 percent this year despite rising inflation, Cambodian Minister of Commerce Cham Prasidh said Thursday.

He said three of the country's four economic pillars -- garment exports, tourism, agriculture and real estate -- are expected to post strong increases this year.

"Based on the figures in the first half of this year, the garment and textile exports rose up to 45 percent, tourism industry up by 13 percent, and agriculture is going well. I believe the country's economic growth this year will exceed 8 percent," the minister said at a press briefing after the conclusion of the 17th Greater Mekong Sub-region Ministerial Conference.

Earlier this year, the government forecast this year's GDP growth at 6 percent.

The commerce minister said the real estate and construction sector has also started to recover this year after it was hard hit by the global financial crisis since 2008.

Despite the minister's optimism, Director-general of the National Bank of Cambodia Nguon Sokha warned that the country's inflation could reach as high as 8 percent this year, up from the previous prediction of 5 percent due to soaring prices of petroleum, food, and consuming products. (Xinhua)

PHNOM PENH, Aug. 4 -- The ministers of the six Greater Mekong Sub-region (GMS) countries on Thursday fully supported the new GMS Strategic Framework for 2012-2022 and will submit it to their leaders for endorsement in December this year at the 4th GMS Summit in Myanmar, according to a joint ministerial statement.

The statement released after the 17th GMS Ministerial Conference said that the new GMS strategic framework, oriented towards the development of GMS economic corridors, includes multi- sector infrastructure investments related to urban and rural area development, as well as greater focus on the software needed for more effective and efficient use of existing and future infrastructure and for addressing shared social and environmental concerns.

Under the new framework, Asian Development Bank will assist the GMS countries in their efforts to maximize the impact of limited regional resources by focusing on catalyzing investment in strategic areas.

"Our experience in economic corridor development points to the need to further broaden and deepen our interventions, not only in terms of geographical reach, but also in terms of moving into the third decade of activities," Bindu Lohani, ADB Vice-President-in- Charge of Operations 2, said in a press briefing after the conclusion of the conference.

He added that ADB has provided support to the GMS Program for almost two decades and it would remain committed to assist the GMS countries to tap more fully into the opportunities that regional cooperation provides.

Meanwhile, Cambodian Minister of Commerce Cham Prasidh highlighted the role of China in contributing to the development of upcoming GMS Strategic Framework for 2012-2022.

"For the development of GMS countries, China plays a very important role as both development partner and money lender," he said during the press briefing.

By the end of June 2011, the ADB had extended loans and grants totaling almost 5 billion U.S. dollars for 55 projects in the subregion, mainly in infrastructure investments.

The GMS countries consist of China, Myanmar, Thailand, Laos, Cambodia and Vietnam. (Xinhua)

PHNOM PENH, Aug. 4 -- Cambodia on Thursday reported 112 landmine casualties in the first half of this year, represented a decrease of 33 percent from 167 casualties in the same period last year, according to the report from the Cambodian Mine and Explosive Remnants of War Victim Information System.

PHNOM PENH, Aug. 4 (Xinhua) -- The Ministers of the six Greater Mekong Sub-region (GMS) countries gathered here on Thursday to finalize the new GMS Strategic Framework for 2012-2022 ahead of submitting it to their leaders for endorsement in December this year.

The 3rd decade GMS strategic framework would continue its focus on physical infrastructure investments, and also widen and deepen economic corridor development activities, effective trade and transport facilitation, human resource development, protection of shared environmental resources and solicit involvement among the private sector and development partners to address the issues and requirements of the GMS program, Cambodian Minister of Commerce Cham Prasidh said at the opening session of the 17th GMS Ministerial Conference.

"The strategy would guide us in the next decade of economic cooperation among the GMS countries," he said.

The GMS program established in 1992 with the support of Asian Development Bank, it has nine priority sectors of cooperation: agriculture, energy, environment, human resource development, investment, telecommunications, tourism, transport infrastructure, and transport and trade facilitation.

"In the last two decades of cooperation, we have achieved a great success, but much work remains to be done in the new decade to ensure that we are advancing the GMS economic cooperation program towards its full potential," he said.

Speaking during the opening ceremony, Zhang Shaochun, Vice- Minister of the China's Finance Ministry, said in the past two decades, the GMS cooperation was constantly making headways and harvests, contributing greatly to poverty reduction and economic and social development in the sub-region.

"The new GMS Strategic Framework will be a sound guidance for future GMS cooperation," he said. "We feel confident about the next ten-year of GMS cooperation."

PHNOM PENH -- Cambodia will spend 1.5 million U.S. dollars on hosting the 32nd General Assembly of ASEAN Inter- Parliamentary Assembly (AIPA), which will run from Sept. 18-24, said a Cambodian parliamentarian on Tuesday.

Cheam Yeap, chairman of the Commission on Economy, Finance, Banking and Audit of Cambodian National Assembly, said that the country has deployed more than 3,000 security forces to ensure order during the summit.

According to the draft agenda, the upcoming AIPA will adopt a variety of documents on political, economic, social and women affairs, rights of migrant workers, and drug fighting in order to build stronger cooperation and relations among the ASEAN member countries.

The Association of Southeast Asian Nations (ASEAN) includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. (Xinhua)

PHNOM PENH, Aug. 3 -- Cambodian former King Norodom Sihanouk and his wife Norodom Monineath Sihanouk left here on Wednesday morning for Beijing, China for routine medical checkup after their nearly four-month stay in Cambodia.

At the Phnom Penh International Airport, the royal couple were seen off by their son King Norodom Sihamoni, Senate President Chea Sim, National Assembly President Heng Samrin, Prime Minister Hun Sen, other government officials, royal family members and Chinese Ambassador to Cambodia Pan Guangxue.

The former King Norodom Sihanouk, 89, has suffered from various forms of cancer since 1993.

Prince Sisowath Sereyrath, advisor to King Norodom Sihamoni, said the retired king has his health checked up routinely in China.

"With high attention from Chinese doctors, the ex-king is still looking healthy even though he's 89 of age and suffering from cancer," he told reporters at the airport.

The couple arrived in Cambodia on April 6 to celebrate the Khmer New Year with Cambodian people.​ (Xinhua)