Cambodia launches new air carrier to expand tourism

PHNOM PENH, July 27 (Xinhua) -- Cambodia on Monday launched a new national carrier Cambodia Angkor Air (CAA) with two ATR 72 planes for the first step, aimed at promoting the nation's tourism and government revenue.

Cambodian Prime Minister Hun Sen said at the launching ceremony "the company will actively contribute to the improvement in the areas of transportation, trade and tourism as well as directly contributing to the job creation, which is the basis for socio-economic development in Cambodia."

Hun Sen also urged the leadership of the company "to be wise, professional and highly experienced," especially to be honest with high responsibility and commitment, teamwork and mutual understanding.

CAA is a joint venture with 51 percent owned by the government and 49 percent by Vietnam Airlines through 100 million U.S. dollars investment.

"We launched the new air carrier today with two ATR 72 planes for first step and near future we will use Airbus planes," Sok An, deputy prime minister and minister of the Council of Ministers said at the launching ceremony presided over by Prime Hun Sen and Visiting Vietnamese Deputy prime minister Truong Vinh Trong.

Cambodian side will provide the facilities including office buildings and other infrastructure for the new national airline, Sok An said, adding that Cambodia will not be responsible for any loss and debt.

The new aviation will fly with local and regional service including Phnom Penh, Sihanoukville and Siem Reap, the gateway to the world famous Angkor Wat temple, as well as to Ho Chi Minh and Bangkok, according to Sok An.

Tourism sector contributed 12 percent of GDP of the country last year, Hun Sen said, adding that the Cambodian government will support and encourage everything for the new aviation to process smoothly and to compete with other airlines. The safety for all travelers is necessary in the air service, he added.

As the symbol of launching ceremony, the Visiting Vietnamese DPM Truong Vinh Trong flew with Cambodian DPM Sok An to Siem Reap province. And another flight flew to costal province of Sihanoukville.

Cambodia's national airline Royal Air Cambodge, a joint venture with Malaysia Helicopter Services, closed down in 2001, after it lost about 20 million U.S. dollars since it began operations in 1994.

Over the past few years, Cambodia has been seeking foreign partners to re-establish its own new national airline, but was unsuccessful.

Vietnam invests into Cambodia in banking and airline

By Dieu Thuy

Nhan Dan Online- The Bank for Investment and Development of Vietnam (BIDV) will start its operation in Cambodia from July 26. In the meantime, Vietnam Airlines will also announce its co-operation in establishing Cambodia Ankor Airlines.

Speaking at a press conference held in Hanoi on July 23, Chairman of the BIDV’s Boards of Directors, Tran Bac Ha said BIDV has invested to establish the Investment and Development Company (IDCC), Bank for Investment and Development of Cambodia (BIDC), the Cambodia – Vietnam Insurance Company and BIDV representative office in Cambodia.

With an initial capital of US $100 million, the company’s activities cover the banking and finance, trade and insurance sectors.

IDCC is finishing all procedure for the purchase of the Prosperity Investment Bank, a private bank of Cambodia as well as for the establishment of Cambodia – Vietnam Insurance company.

The bank, after being purchased will be renamed the Bank for Investment and Development of Cambodia. “Cambodia now has only 24 commercial banks with not many services, so this is an opportunity for Vietnam to penetrate the market. Around 400 Vietnamese businesses which are now investing in Cambodia are the potential customers of BIDC,” said Ha.

“In the future, BIDC will open its branch in Ho Chi Minh City and later in Hanoi,” Ha added.

The BIDV chairman also revealed that BIDV has got the agreement from the Cambodia National Bank on opening BIDV representative office in Phnom Penh. The representative office is expected to officially open early next month with the aim of providing information for Vietnamese businesses which desire to invest in Cambodia.

Also in the press conference, Vietnam Airlines announced its co-operation in setting up the Cambodia Ankor Airlines.

Vietnam Airlines General Director Vu Ngoc Minh said Cambodia Ankor Airlines will have the initial capital of US $ 100 million. Cambodia Ankor Airlines will launch its inauguration on July 27.

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Chinese mobiles finding favor in Cambodian market

PHNOM PENH, July 14 (Xinhua) -- Distributors here have said that the number of Chinese-sourced mobile phones being sold in Cambodia each month is climbing rapidly, local newspaper the PhnomPenh Post reported on Tuesday.

Not only are they cheaper than leading brands, but some have features including the ability to use two SIM cards, built-in radio and TV receivers and MP3 and MP4 players, it said.

The Ky Hout company said that it imports between 6,000 and 8,000 phones monthly for distribution in Phnom Penh, Siem Reap and Battambang. The sales manager, who asked not to be named, said customers liked the fact that the phones were substantially cheaper than the competition.

She said sales were up ten-fold since the start of the year. "Previously we imported only 300 t0 600 of these phones each month that sell for between 35 U.S. dollars and 100 U.S. dollars each," she said, adding, "Our sales of Nokia phones have dropped by 80 percent."

Srey Touch, the owner of another importer, the 03 Company, agreed that sales of Chinese-made phones were up sharply. "We import new model phones two or three times a month, with up to 500phones each time," he said, adding, "The phones sell especially well during the big national holidays such as Khmer New Year, Pchum Ben and the Water Festival."

But representatives of Nokia and Sony Ericsson said their market share was not being hit by the cheaper competition. "Sales are stable," said Yoeun Makara, a retail sales manager who imports Nokia phones. "Moreover, 80 percent of our customers choose to buy Nokia because it is strong and robust, and they like the new touch screen models."

Chea Mony, the head of marketing at Sony Ericsson in Cambodia, is also bullish. He said sales were up at least 10 percent this year. "The influx of Chinese cell-phones creates opportunities for many users, but it is not an obstacle for Sony Ericsson because competition goes beyond price, and Sony Ericsson offers many different prices including low, medium and high," he said.

So Khun, minister of posts and telecommunications, said in May that 4.23 million of the country's 13.4 million citizens have mobile phones, and that the nation has just 42,000 landlines.

Nine mobile phones companies operate in Cambodia: Beeline, Excell, Hello, MFone, Metfone, Mobitel, qb, Smart and Star-Cell.

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Subway in Korea

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Dinner with Fishing soup at Korea

Dinner with Fishing soup at Korea

Mid night at Korea

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