Economy and commerce

Businesses registered in Cambodia have until the end of the month to pay their annual property tax to the country’s General Department of Taxation (GDT). According to the GDT, business owners must pay by September 30 to avoid being fined. ...

Malaysian company PMTI Energy (Cambodia) Co has signed a 10-year deal to supply Electricite du Cambodge with 48,000 megawatts of energy derived from rice husks every year. Phou Puy, president of PMTI, told the Post yesterday that about 70 per cent of the power generated from ...

Last month, Cambodia’s nascent yet rapidly expanding banking sector saw the new arrival of Phillip Bank through the acquisition of Hwang DBS Commercial Bank by Singapore’s Philip Capital in a $40 million deal. The number of banks in the country has more than doubled since 2005, ...

Cambodia had spent about 229 million U.S. dollars buying construction materials from foreign countries in the first six months of 2014, up 3 percent from 223 million U.S. dollars over the same period last year, a report of the Ministry of Commerce said Tuesday. ...

Cambodia currently has approximately 514,278 business establishments, up 11 percent compared with 463,363 in 2011, according to the results of the intercensal economic survey released Monday. ...

Phnom Penh Water Supply Authority (PPWSA) earnings recovered slightly during the second quarter of the year off the back of increased public water usage, officials said. In a filing to the Cambodia Stock Exchange last week, the PPWSA posted $2.7 million in profits for the second ...

The Council of Ministers on Friday approved a three-year $5.24 billion “public investment program”—a package of several hundred projects from 2015 to 2017 designed to help the government reach its goal of 7 percent annual growth or better. ...

The Comprehensive Strategic Partnership of Cooperation between Cambodia and China has been providing “more favourable conditions” for economic, trade and investment ties between the two countries, Cambodian Deputy Prime Minister and Cabinet Minister Sok An said on Sunday. ...

A proposed project hopes to channel the widespread use of mobile phones among factory workers to bring the voice of the 600,000 Cambodians employed in the crucial garment sector into future wage negotiations. The project, which would collect information about working hours, conditions, wages and expenses ...

Property prices in Phnom Penh’s prime residential locations increased by 13.7 per cent in the first half of 2014, while prime office development land prices increased by 7.6 per cent, according to Knight Frank Prime Asia Development Land Indices. Ross Wheble, the independent global property consultancy’s ...

Cambodian labor unions this week lowered their demands for a 60 percent increase to the country’s $100 minimum wage, as talks loom next month on setting a new wage.Unions agreed to call for $150 a month during a meeting with officials from the Garment Manufacturers’ ...

California-based real estate firm Century 21 enters the emerging Cambodian property market with today’s formal opening of its local operations in the country. According to Goos, the local franchise of Century 21 would concentrate on foreign buyers, especially on selling new condominiums, to avoid competing ...

Cambodia exported about 233,859 tons of rice in January-August 2014, down about 1.2% from about 236,728 tons rice exported in the same period last year, according to data from the Secretariat of One Window Service for Rice Export Formality (SOWS-REF). Cambodia exported about 379,856 tons rice in all ...

Wah Seong Corporation Bhd’s subsidiary will be selling 48,000 MW of power per annum over 10 years to Cambodia’s power company. Wah Seong said on Friday its subsidiary PMTI Energy (Cambodia) Co Ltd had signed a power purchase deal with the Electricité Du Cambodge to sell ...

A lack of innovation has contributed to Cambodia dropping seven spots on the World Economic Forum’s 2014-15 Global Competitiveness Report (GCR), which was released on Wednesday. The Kingdom ranked 95th out of 144 countries, down from 88th in the previous report, according to the GCR. Apart ...

Manufacturers of soy and fish sauces should fortify the products with iron in order to improve Cambodians’ health, government officials said yesterday. During a workshop on iron fortification, Sat Samy, secretary of state at the Ministry of Industry and Handicrafts, called on producers to help combat ...

The Yakjin Trading Corporation, a South Korean company whose factory was at the center of major demonstrations earlier this year, has begun a review of its operations. ...

The Israeli gaming firm behind Sihanoukville’s Queenco Casino is seeking investors to expand its operations in the seaside town, according to a report released by the company last week, but after six months of “cash flow distress” and losses of more than $1 million, those ...

Despite failing in its latest attempt to win the Philippine government’s bid to import rice, Cambodia will once again throw its hat into the ring when the offer is reissued, industry representatives said yesterday. ...

A human rights group on Thursday urged authorities in Cambodia to end the prosecution of six trade unionists accused of stoking violent clashes between protesting workers and security forces, calling the case against them “politically motivated.” New York-based Human Rights Watch said prominent activists Pav Sina, ...

More than a dozen of American company representatives are visiting Cambodia to look into investment opportunities, a Cambodian spokesman said Thursday. ...

Prime Minister Hun Sen yesterday defended his government, saying its reputation for corruption is undeserved, laying blame on the private sector for initiating the bribe process and calling out international development partners for applying double standards. Speaking at the Eighth Regional Conference of Anti-Corruption Intiative for ...

One of six union leaders charged and summonsed for questioning over a strike that ended in government forces shooting dead at least five people in January has sent a message to authorities to hurry up and get his hearing over with. ...

Cambodia needs to develop a trade logistics plan to align the Kingdom with the regional production network and increase its competitiveness as an investment destination, a senior World Bank economist said yesterday. ...