Economy and commerce

Cambodia could add an additional $320 million to the economy over the next 10 years while increasing tax revenue by $24 million if it dropped its tariffs on information and communication technology (ICT), according to new research published yesterday. ...

Two listed state-owned enterprises – Phnom Penh Water Supply Authority (PPWSA) and Phnom Penh Autonomous Port (PPAP) showed better results in the first quarter of the year due to a rise in revenue.   ...

Wing and the online platform company BookMeBus have teamed up to offer bus tickets to the provinces and to Thailand, Laos and Vietnam. The service was officially launched on Friday with the first services available in Wing agencies in Phnom Penh.   ...

The majority of small and medium enterprises are still unaware of how to comply with new tax regulations that came into force at the end of last year, according to an Economy Ministry official. Srun Angkaren, a deputy director in the general department of taxation, said ...

The slowdown of regional and global economies, especially in China, US dollar appreciation, unfavourable weather and global stock market speculation have plunged rubber prices, the Association for Rubber Development in Cambodia said.   ...

Mohaleap Lotto, a subsidiary of Cambodia’s Royal Group, officially entered the Kingdom’s lottery gaming market this month, hoping to disrupt a business sector currently dominated by black market outlets, a company executive said yesterday. ...

it has been more than six months since Vietnam agreed to waive duties on 3,000 tonnes of Cambodian dried tobacco exports per year, yet local smallholder tobacco farmers claim the agreement has done little to improve their incomes, with some accusing large tobacco companies of ...

After several years of rapid growth, the expansion of credit provided by the Kingdom’s myriad microfinance institutions (MFIs) stalled abruptly last year, raising concerns poorer Cambodians could be pushed toward loan sharks to obtain credit or cover their debts, the World Bank said in its ...

Subscription for the initial public offering of Sihanoukville Autonomous Port (SAP) opened yesterday, with its underwriter predicting a strong investor response following an oversubscribed bookbuilding exercise late last month. ...

The Kingdom’s leading palm oil producer has projected revenues of $20 million this year as it targets another record-setting year for crude palm oil exports. ...

Cambodia is to open commercial centres in China to help Chinese investors understand the potential of Cambodia. The centres will soon be established in some provinces, Prime Minister Hun Sen said on his Facebook page during his trip to the Commercial and Tourism Cooperation Forum in ...

Earlier this month, Makro, a well-known wholesale supermart based in Bangkok, Thailand, began putting up signs on the zinc walls surrounding its sales office in Phnom Penh’s Sen Sok district, advertising its imminent opening at the end of the year. ...

The capital’s state-owned water utilities firm Phnom Penh Water Supply Authority (PPWSA) reported strong earnings in the first quarter of 2017, according to a filing to the Cambodian stock exchange (CSX) yesterday. ...

Total foreign direct investment receipts have remained consistent over the past five years, according to a new government report that incorporates central bank data. ...

The head of Transparency International Cambodia used the release of a World Bank economic report yesterday to press the lender’s economists on rural indebtedness and their claim that the country’s strong GDP growth was helping the country’s poor. ...

The multi-trillion-dollar scheme proposed by Chinese premier Xi Jinping in 2013 aims to promote economic integration across Eurasia by investing in a “Silk Road Economic Belt” and “Maritime Silk Road”, comprising transnational economic corridors and new trade arrangements. ...

The U.K. NGO that last week exposed a major new timber trafficking operation between Cambodia and Vietnam has released more evidence in hopes of supporting Phnom Penh’s investigation into its claims, including invoices from Cambodia-based companies breaking the country’s timber export ban. ...

The government is predicting Cambodia’s gross domestic product will grow at seven percent this year and next. ...

Cambodia hopes to leverage its membership in the Sustainable Development Investment Partnership (SDIP) to access much-needed funding for large-scale infrastructure development, state officials have said. ...

Cambodia could see massive investments as a result of China’s latest pledge to funnel an enormous sum into developing infrastructure as part of its New Silk Road initiative, an analyst said yesterday. ...

A second ship accused by the NGO Mother Nature of illegally exporting dredged ocean sand last week is expected to arrive at a port in China today with a cargo of silica sand, which is exempt from the ban, the ship’s owner said yesterday. ...

Fourteen community representatives speaking for thousands of families yesterday petitioned the South Korean Embassy, Environment Ministry and Forestry Administration to halt the expansion of a controversial “reforestation” project by a Korean company situated between the protected Prey Lang forest and Mekong River. Their petition – ...

Sihanoukville Autonomous Port (SAP), the state enterprise that operates Cambodia’s principal seaport, announced a share price of 5,040 riel ($1.26) yesterday for its upcoming initial public offering following a bookbuilding exercise that garnered a strong response from institutional investors. ...

Cambodia has enjoyed strong economic growth but needs to improve its governance and rule of law in order to promote greater development, the Economic and Social Commission for Asia and the Pacific (Escap) said in a report released yesterday.​ ...