DAP: The breaking news in Cambodia: “Cambodia's construction sector attracts 1.53 bln USD investment in 8 months” plus 6 more

DAP: The breaking news in Cambodia: “Cambodia's construction sector attracts 1.53 bln USD investment in 8 months” plus 6 more


Cambodia's construction sector attracts 1.53 bln USD investment in 8 months

Posted: 17 Sep 2012 02:55 AM PDT

PHNOM PENH, Sept. 17 (Xinhua) -- Cambodia's construction sector has attracted the investment of 1.53 billion U.S. dollars in the first eight months of 2012, a 74 percent rise compared with 881 million U.S. dollars at the same period last year, a report from the Ministry of Land Management, Urban Planning and Construction showed Monday.

From January to August this year, the ministry had issued licenses to 1,231 construction projects, down 16 percent from 1, 470 projects at the same period last year.

Lao Tip Seiha, deputy director-general of the ministry's construction general-department, said that there was a remarkable rise in investment value this year, but a drop in construction projects this year were bigger in size than those of last year. "The growth is a good sign for the sector and reflects investors 'confidence in Cambodia's economic and political stability,"he said.

The licensed projects included condominiums, residential units, commercial buildings, hotels, casinos and garment factories.

According to the report, top 10 countries and regions investing in the country's real estate and construction are South Korea, China, Britain, Thailand, Russia, Japan, Malaysia, China's Taiwan, India and Vietnam.

Construction sector is one of the four pillars supporting the economy. The sector attracted 2,129 projects with a total investment of 1.7 billion U.S. dollars last year.

Cambodia warns of possible flash floods in 13 provinces

Posted: 17 Sep 2012 12:33 AM PDT

PHNOM PENH, Sept. 17 (Xinhua) -- Cambodia's Ministry of Water Resources and Meteorology on Monday warned of heavy rains throughout this week and said some 13 provinces out of the country 's 24 cities and provinces could suffer from flash floods.

"Over the past two weeks, a low pressure system has gone through and impacted Cambodia, causing rains and thunderstorms," according to an announcement on weather conditions on Monday.

The announcement, signed by the Minister Lim Kean Hor, said that the bad weather will continue influencing Cambodia for another week.

"There will be strong rains across the country until Sept. 23 and the rains could cause flash floods in some provinces," it said.

Possible flood-hit provinces are Oddar Meanchey, Preah Vihear, Banteay Meanchey, Battambang, Pursat, Kampong Chhnang, Siem Reap, Kampong Thom, Kampong Speu, Takeo, Kandal, Prey Veng and Kampot.

"The Ministry would like to appeal to local authorities and people living in these provinces, especially areas along rivers, to be on high alert to avoid dangers and property damage due to the flash floods," the announcement said.

Floods usually hit Cambodia between August and October. Last year, the floods killed at least 250 Cambodian people and affected some 1.4 million people in the country, according to the National Committee for Disaster Management (NCDM).

Moreover, nearly 3,000 km of gravel roads and some 180 km of national roads had been damaged.

The last year's floods cost the country about 521 million U.S. dollars.

Cambodia spends 1 bln USD for oil imports in 7 months

Posted: 17 Sep 2012 12:32 AM PDT

PHNOM PENH, Sept. 15 (Xinhua) -- Cambodia had spent 1 billion U. S. dollars to buy petroleum from foreign suppliers in the first seven months of this year, up 22 percent from 817 million U.S. dollars at the same period a year ago, a report of the Commerce Ministry showed Saturday.

 

The country had imported 1,014,210 tons of petroleum during the January-July period this year, up 14 percent from 887,080 tons at the same period last year, it said.

 

Cambodia's oil demand has sharply increased in recent years thanks to the growing extent of economy and the increasing number of vehicles. The government envisages that the demand will jump to 3 or 4 million tons a year in coming years.

 

Cambodia has totally purchased petroleum from Vietnam, Singapore and Thailand as its seabed's oil and gas have not been exploited.

 

Last year, the country spent 1.38 billion U.S. dollars to import some 1.46 million tons of petroleum.

Cambodia sees rise in rubber, cassava exports in 7 months

Posted: 16 Sep 2012 10:06 PM PDT

PHNOM PENH, Sept. 15 (Xinhua) -- Cambodia recorded a 8.5 percent increase in rubber latex export in the first seven months of this year, but the export value decreased by 25 percent due to declining rubber prices in the international market.

 

The country had exported 28,500 tons of rubber latex during the January-July period this year, up 8.5 percent from 26,250 tons at the same period last year, a report from the Ministry of Commerce showed Saturday.

 

Revenues from the exports were 91.2 million U.S. dollars, down 25 percent from 122.3 million U.S. dollars, said the report.

 

According to International Rubber Price, currently, the best quality rubber is sold at 3,104 U.S. dollars a ton, a drop of 26 percent from 4,199 U.S. dollars at this time last year.

 

Cambodia's rubber latex has been exported to Malaysia, Vietnam and China.

 

To date, the country has about 213,100 hectares of rubber plantations, most of them are too young to be yielded, according to a report from the Agriculture Ministry.

 

Meanwhile, the report recorded that during the period, the country had exported 646,426 tons of cassava, up 204 percent from 212,525 tons at the same period last year.

 

The country made total revenues of 34.3 million U.S. dollars from the export, up 281 percent from only 9 million U.S. dollars at the same period last year, it said.

 

Cambodian cassava has been exported mainly to Thailand, Vietnam, South Korea and China.

 

Rubber and cassava are among a few major agricultural products that the country exports.

Cambodian PM leaves for 33rd ASEAN Inter-Parliamentary Assembly in Indonesia

Posted: 16 Sep 2012 08:28 PM PDT

PHNOM PENH, Sept. 17 (Xinhua) -- Cambodian Prime Minister Hun Sen, chair of ASEAN in 2012, left for Indonesia on Monday morning to attend the 33rd ASEAN Inter-Parliamentary Assembly (AIPA-33) on Sept. 16-23.

He was invited by Speaker of Indonesia's House of Representatives Marzuki Alie, chairman of AIPA in 2012, Srey Thamrong, an aide to Hun Sen, told reporters at Phnom Penh International Airport before departure.

The AIPA-33 is being held with the theme "Strengthening Parliamentary Roles toward ASEAN Community in 2015".

As chair of ASEAN, Hun Sen will deliver a speech at the opening ceremony of AIPA-33, he said.

AIPA-33 gets together parliament chiefs from ASEAN member states as well as dialogue and observer countries including Australia, Belarus, Canada, China, India, Japan, South Korea, New Zealand, Papua New Guinea, Russia and the European Parliament.

Founded in 1967, the Association of Southeast Asian Nations ( ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

U.N.-backed Cambodian tribunal freed ex- senior Khmer Rouge official for mental illness

Posted: 16 Sep 2012 08:27 PM PDT

PHNOM PENH, Sept. 16 (Xinhua) -- The UN war crimes tribunal on Sunday released Ieng Thirith, 80, former minister of social affairs of Democratic Kampuchea, on grounds that she is unfit to stand trial due to her Alzheimer's disease, the court said in a statement.

"Ieng Thirith is released from the Extraordinary Chambers in the Court of Cambodia (ECCC) detention facility with conditions," the statement said.

"She was freed this Sunday afternoon with some interim conditions," Neth Pheaktra, a spokesman at the ECCC, told Xinhua by telephone.

He said the interim conditions are that Ieng Thirith must inform the Court her specified home address, must surrender her passport and I.D. card, must not interfere into the Court's justice administration and must report to the court whenever it summons her.

"Despite the release, she is still charged with crimes against humanity, genocide, homicide, torture, and religious persecution," he said.

The release of Ieng Thirith with provisional conditions was made after the co-prosecutors on Sept. 14 appealed the Trial Chamber's decision issued on Sept. 13 to unconditionally release the accused Ieng Thirith.

"The co-prosecutors fully agree with the Trial Chamber that Ieng Thirith should be released from detention based on the findings of national and international experts that she is currently unfit to stand trial," said the co-prosecutors' statement. "However, the co-prosecutors are of the view that her release should not have been unconditional."

The Court ordered the release of Ieng Thirith on Sept. 13, saying that the accused Ieng Thirith suffers from a progressive, degenerative illness (likely Alzheimer's disease) and that she remains unfit to stand trial.

"The experts have confirmed that all treatment options have now been exhausted and that the accused's cognitive impairment is likely irreversible. As there is no prospect that the accused can be tried in the foreseeable future, so the Trial Chamber has confirmed the severance of the charges against Ieng Thirith in Case 002 and the Chamber is obliged to order the accused's release from detention," it said.

Ieng Thirith is one of the four accused in Case 002. The other three are ailing defendants include Nuon Chea, 85, also known as " Brother Number 2," former deputy secretary of the Communist Party of Kampuchea, Khieu Samphan, 80, former head of state, Ieng Sary, 86, former deputy prime minister for foreign affairs.

They face a series of charges, including crimes against humanity, genocide, homicide, torture, and religious persecution over the deaths of an estimated 2 million people from starvation, overwork, torture, execution, and massacre during the regime from 1975 to 1979, according to the court's document.

Ieng Thirith was minister for social affairs and is accused of involvement in the "planning, direction, coordination and ordering of widespread purges" and has been charged with crimes against humanity, genocide, homicide, torture and religious persecution.

She is the sister-in-law of Khmer Rouge supreme leader Pol Pot, who died in 1998. Pol Pot married Ieng Thirith's sister, Khieu Ponnary, who died in 2003.

Established in 2005, the U.N.-backed tribunal is seeking justice for an estimated 2 million people who died of starvation, exhaustion, lack of medical care or execution during Khmer Rouge's rule.

Cambodian top legislator heads for Indonesia for ASEAN meeting

Posted: 16 Sep 2012 08:24 PM PDT

PHNOM PENH, Sept. 16 (Xinhua) -- Cambodian President of National Assembly Heng Samrin on Sunday led a parliamentary delegation to attend the 33rd ASEAN Inter-Parliamentary Assembly ( AIPA-33) to be held from Sept. 16-23 on the Lombok Island, West Nusa Tenggara of Indonesia.

The participation is made at the invitation of Speaker of the Indonesia's House of Representatives Marzuki Alie, chairman of AIPA for 2012, according to a Parliament press release.

The AIPA-33 is held under the theme "Strengthening Parliamentary Roles toward ASEAN Community in 2015," the press release said.

During the Assembly, a number of issues have been set to be discussed in the committees for political, economic, social, organizational, women's roles affairs and for dialogues with observers.

As scheduled, Cambodian Prime Minister Hun Sen will also leave for the AIPA-33 on Sept. 17 at the invitation of Marzuki Alie.

Marzuki Alie visited Cambodia on Sept. 7 to invite Heng Samrin and Hun Sen for the AIPA-33.

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