via Khmer NZ
Construction approvals fall 71pc in first half
Friday, 23 July 2010 15:00 Soeun Say
THE value of construction approved by the government has fallen 71.14 percent in the first half the year, according to official figures released by the Ministry of Land Management Urban Planning and Construction yesterday. The government approved 1,094 construction projects worth a combined US$329 million in the first six months of 2010, down from the 1,142 construction projects worth $1.1 billion approved for the first half of last year. “The construction sector is still struggling,” Lao Tip Seiha, Ministry director, told the Post.
Kingdom receives first B+ credit rating
Friday, 23 July 2010 15:00 Jeremy Mullins
CYPRUS-based credit rating agency Capital Intelligence assigned its first-ever rating of a B+ to Cambodia yesterday, according to a press release. The rating assessed the general creditworthiness of the country and likelihood that it would meet its financial obligations in a timely manner. The firm highlighted the Kingdom’s relatively successful economic management, its medium-term growth prospects, and donor support, but mentioned some concerns when issuing the rating. “The economy is small and vulnerable to shocks as the production base is relatively undiversified and exports are concentrated in terms of product and destination,”and Cambodia’s credit outlook was stable, it said.
Thai, Cambodian army officers meet in B’bang
Friday, 23 July 2010 15:00 Cheang Sokha
Cambodian and Thai military commanders stationed along the border met this week for annual talks covering plans to reduce border confrontations and cross-border crime, officials said. Chhum Socheat, spokesman for the Ministry of Defence, said yesterday that officers from Cambodian Military Region 5 and their counterparts in the Royal Thai Army met on Monday and Tuesday in Battambang province. Chhum Socheat said the meeting focused on military-to-military cooperation, cross-border terrorism, border security and the prevention of human and drug trafficking. “Besides that they also discussed some development issues such as the promotion of tourism and exchange of trade,” he said.CHEANG SOKHA