Ministries and other national bodies
Ministry of Economy and Finance
GTI price drops on day one
After a five-month IPO process steeped in anticipation, Grand Twins International ended its first day on the Cambodia Securities Exchange (CSX) with results many observers found disappointing. GTI shares opened yesterday’s session at 9,700 riel ($2.41), with a ceremonial bell ringing at the CSX’s head office. ...
Eddie Morton
http://www.phnompenhpost.com/business/gti-price-drops-day-one
Provinces told to speed up pension applications
In a government directive signed by Prime Minister Hun Sen on Thursday, provincial staff were ordered to submit their lists of military and civil service pensioners to the ministries of Finance and Social Affairs by the second week of each month to ensure timely delivery ...
Eang Mengleng
http://www.cambodiadaily.com/news/provinces-told-to-speed-up-pension-applications-60717/
Thai gamblers drop after coup
The number of Thai visitors crossing the border to place bets at Cambodian casinos has fallen since that country’s military staged a coup late last month. Kim Ledaro, managing director of Crown Resorts Co, which operates three Crown-branded casino resorts in Bantey Meanchey province’s Poipet town, ...
Chan Muyhong
http://www.phnompenhpost.com/business/thai-gamblers-drop-after-coup
Insurance law reform under way
The Council of Ministers last week approved a raft of changes to the country’s insurance laws, a move that industry insiders hope will better reflect the sector’s current state. The draft law, which was prepared by the Ministry of Economy and Finance, has an additional 14 ...
Hor Kimsay
http://www.phnompenhpost.com/business/insurance-law-reform-under-way
Questions over spending plan
The Council of Ministers on Friday approved a new five-year National Strategic Development Plan (NSDP) – the guiding policy document used by the government – requiring an estimated $26.58 billion in spending and investment, or more than $5.3 billion a year, until 2018. The plan ...
May Kunmakara and Kevin Ponniah
http://www.phnompenhpost.com/national/questions-over-spending-plan
Two dead, one seriously injured in another hit and run
Two men died and another was seriously injured in a hit-and-run accident on Friday night in Phnom Penh when a Range Rover plowed into a motorbike in Toek Thla commune, police said Sunday, adding to a recent spate of fatal—and often high-profile—hit-and-runs. Thang Ratha, 23, died ...
Eang Mengleng
http://www.cambodiadaily.com/news/two-dead-one-seriously-injured-in-another-hit-and-run-59553/
Economic official in K Cham Hit and run
A car belonging to Ly Thida, the director of the Kompong Cham provincial department of economy and finance, was involved in a fatal hit-and-run collision Thursday in the province’s Choeung Prey district, a police official said. District deputy police chief Cheang Se said two people were ...
Hay Pisey
http://www.cambodiadaily.com/news/economic-official-in-k-cham-hit-and-run-59440/
Government spending, foreign aid up in 2013
Government spending increased 32 per cent last year, while increases in both domestic revenue and foreign aid helped stabilise Cambodia’s budget deficit, according to budget statements from the Ministry of Economy and Finance (MEF). The consolidated financial records, which were released on May 8, show Cambodia’s ...
Eddie Morton
http://www.phnompenhpost.com/business/government-spending-foreign-aid-2013
Customs agreement gets green light at NA
The National Assembly approved changes to the country’s customs law yesterday, in order to comply with Association of Southeast Asian Nations intergration standards. The changes demand border operations increase human resources, reduce paperwork and modernise procedures in order to simplify border exchange and facilitate trade between ...
May Kunmakara
http://www.phnompenhpost.com/business/customs-agreement-gets-green-light-na
Veng Sreng Street Upgrade behind schedule
The head of a construction company working to upgrade Phnom Penh’s dusty, potholed Veng Sreng Street said Thursday that the project would take twice as long to complete as expected. In November, Phnom Penh governor Pa Socheatvong announced that a 6.5 km strip of the road—which ...
Sek Odom
http://www.cambodiadaily.com/news/veng-sreng-street-upgrade-behind-schedule-58872/
Standard forms aim for public bid transparency
The Ministry of Economy and Finance on Monday announced the release of standardised bidding forms for public contracts, a measure it said would increase transparency and accountability, though the opposition and Transparency International Cambodia offered more cautious assessments yesterday. According to a state media announcement, the ...
Stuart White
http://www.phnompenhpost.com/national/standard-forms-aim-public-bid-transparency
For Union Leader on Run, Militant Attitude Prevails
Tax revenue increased 9.5 percent to $353.46 million in the first quarter of the year, compared to the same period last year, according to a statement released Friday by the Ministry of Finance’s general department of taxation. Kong Vibol, general director of the taxation department, said ...
Hul Reaksmey
http://www.cambodiadaily.com/business/tax-revenue-up-9-5-percent-in-first-quarter-58489/
Hun Sen to visit Russia
Russia invites some Ministers of Cambodia to visit Russia to sign Memorandum of Understanding on bilateral consultation between the two countries, a government official said. The invitation was made during a meeting Monday between Cambodia’s Foreign Minister Hor Namhong and Dmitry Tsvetkov, new Russian Ambassador to ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=11&token=YjA5ODNhZGM4YzI
NTU and Temasek Foundation launch inaugural training programme for senior Cambodian administrators
Singapore’s Nanyang Technological University (NTU) and Temasek Foundation are launching a new training programme to train senior Cambodian government officials in public administration and governance. ...
Xinmsn News Staff
http://news.xin.msn.com/en/singapore/ntu-and-temasek-foundation-launch-inaugural-training-programme-for-senior-cambodian-administrators
Cross-border insurance to be compulsory
Tourist buses and commercial vehicle operators crossing over the Cambodia-Vietnam border will soon be required by law to have insurance in both countries or risk being denied entry, a bilateral agreement signed on Tuesday states. In an effort to meet requirements stipulated in the ASEAN 2015 ...
Chan Muyhong
http://www.phnompenhpost.com/business/cross-border-insurance-be-compulsory
Clean water in pipeline for Kep
The Phnom Penh Water Supply Authority (PPWSA) will invest $1.3 million in a water treatment plant in Kep province to supply clean water to more than 1,000 households there, the company’s head said last week. Speaking at the announcement of PPWSA’s 2013 results in Phnom Penh ...
Hor Kimsay
http://www.phnompenhpost.com/business/clean-water-pipeline-kep
Acleda takes on tax collection role
Taxpayers are now able to pay their dues at Acleda Bank as the government seeks to outsource its tax revenue collection to the private sector, the head of Cambodia’s largest bank said yesterday. In Channy, president and CEO of Acleda bank, told the Post that the ...
Hor Kimsay and Daniel de Carteret
http://www.phnompenhpost.com/business/acleda-takes-tax-collection-role
Customs and Excise Director to retire
Pen Siman, the general director of the Ministry of Finance’s general department of customs and excise, will retire in October, according to a royal decree signed by King Norodom Sihamoni and reprinted Wednesday in local media. Dated April 3, the royal decree instructs Prime Minister Hun ...
Hul Reaksmey
http://www.cambodiadaily.com/news/customs-and-excise-director-to-retire-57879/
AFD loan ‘will bring power to rural areas’
The French Agency for Development (AFD) announced yesterday that it will provide $24 million to finance privately owned water and power providers to supply rural areas that state-run utilities cannot reach. During a ceremony held at the Ministry of Economy and Finance, the AFD and the ...
Chan Muyhong
http://www.phnompenhpost.com/business/afd-loan-%E2%80%98will-bring-power-rural-areas%E2%80%99
Tax dept can’t do job, report says
Cambodia’s tax department is under-resourced and understaffed, thereby hindering its ability to generate revenue, according to an Asian Development Bank (ADB) analysis released earlier this month. The analysis, which took into account survey results from 22 tax revenue bodies across Asia between 2012 and 2013, paints ...
Eddie Morton
http://www.phnompenhpost.com/business/tax-dept-can%E2%80%99t-do-job-report-says
US broker partners with Korea's Tongyang Securities in Cambodia
US-based broker Decker and Co has announced a partnership with the Cambodian unit of South Korea’s Tongyang Securities Inc, one of only seven underwriters licensed by the Cambodia Securities Exchange. In a statement late Tuesday, Decker said partnerships with Tong Yang in Cambodia and BPI Securities ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=YjM5ZDFmOTBkOTM
Phnom Penh Water to hold annual meeting this week
Phnom Penh Water Supply Authority is scheduled to hold this week its annual general meeting of shareholders, the second since its shares were listed two years ago. The meeting is due to take place at the authority’s headquarters in Daun Penh district on Thursday morning. ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=Yzc0YmFjMjc1MmI
Rice customs fees dropped
The Ministry of Economy and Finance (MoEF) will scrap customs fees for rice exporters from May 1 in an effort to reduce production costs and boost Cambodia’s competitiveness in the sector, according to a letter obtained by the Post. “[The ministry] has agreed to eliminate charges ...
Hor Kimsay
http://www.phnompenhpost.com/business/rice-customs-fees-dropped
Rice sector credit boost
The government-backed Rural Development Bank (RDB) will lend $64 million to Cambodia’s agriculture sector in 2014, the bank’s top official said yesterday. Sun Kunthor, president of RDB, said most of the funding would be used to support growth in Cambodia’s rice sector as it strives to ...
Chan Muyhong
http://www.phnompenhpost.com/business/rice-sector-credit-boost