Economy and commerce
Efficiency on factory floor boosts GTI profit
Cambodia’s second listed company Grand Twins International (GTI) posted an increase in profits for the quarter ending June 30, as the company, despite losing revenue, was able to reduce the costs and improve worker productivity. ...
Ananth Baliga
http://www.phnompenhpost.com/business/efficiency-factory-floor-boosts-gti-profit
Industrial ambitions face thirsty future
Cambodia’s new industrial development policy calls for more factories and special economic zones, but accomplishing this will be difficult. ...
Igor Kossov
http://www.khmertimeskh.com/news/15199/industrial-ambitions-face-thirsty-future/
Healthy profit for Acleda in first half
Cambodia’s largest bank, Acleda Bank, announced its half-yearly results on August 26, reporting a 40 per cent increase in net profits as compared to the same period last year, on the back of strong loan and deposits growth. ...
Ananth Baliga
http://www.phnompenhpost.com/business/healthy-profit-acleda-first-half
FDI on the rise, but figures questioned
Official figures released last week showing a surge in foreign direct investment during the first half of this year may not be the most reliable indicators of actual investment, as they reflect proposed investments rather than actual foreign direct investment (FDI), experts and executives say. ...
Igor Kossov
http://www.khmertimeskh.com/news/15158/fdi-on-the-rise--but-figures-questioned/
Initiative to self-certify origin of goods set up
The Ministry of Commerce (MoC) has announced a program that will allow approved exporters to use their invoices to self-certify their products’ origin, removing the need to apply directly to the ministry each time a company needs to ship goods from Cambodia. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/initiative-self-certify-origin-goods-set
Almost 100 investment projects recorded in first semester
During the first six months of this year, Cambodia has received a total of 94 investment projects worth some $3.4 billion, the state’s news agency-AKP quoted deputy prime minister Keat Chhon. ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/almost-100-investment-projects-recorded-in-first-semester-8901
PPWSA’s profit down in 2Q
The Phnom Penh Water Supply Authority (PPWSA) saw its profit after tax drop for the second quarter this year, when compared to the same period last year, according to its quarterly statement published on the Cambodia Securities Exchange (CSX) on Wednesday. ...
Xueying Chen
http://www.phnompenhpost.com/business/ppwsas-profit-down-2q
50th microfinance institution launched in Cambodia
The Royal Microfinance institution launched its operations in Cambodia on Thursday, bringing the total number of micro-lenders in the kingdom to 50. ...
Xinhua team
http://www.khmertimeskh.com/news/15004/50th-microfinance-institution-launched-in-cambodia/
SMEs urged to register at Taxation Department
Cambodia’s small- and medium-size enterprises should formalise their accounts and register with the Taxation Department to avoid the risk of unpredictable tax collection in the future, industry insiders said at a tax seminar in Phnom Penh yesterday. ...
Ayanna Runcie
http://www.phnompenhpost.com/business/smes-urged-register-taxation-department
Local logistics firms struggle to survive as global players circle market
The Kingdom’s logistics sector is becoming increasingly crowded, with small- to medium-sized players racing for a share of the growing market while struggling at the same time to reach international quality standards. ...
Igor Kossov
http://www.khmertimeskh.com/news/14901/local-logistics-firms-struggle-to-survive-as-global-players-circle-market/
Experts at odds over effects of Yuan devaluation
Economists and industry experts disagreed Tuesday on the effects that recent currency devaluations in China and Vietnam would have on the Cambodian economy. ...
Kang Sothear and Anthony Jensen
https://www.cambodiadaily.com/business/experts-at-odds-over-effects-of-yuan-devaluation-92553/
Watching from the sidelines
As Chinese markets plunged 8.49 per cent on Monday sending jitters across global indices, industry insiders yesterday were cautious about its potential spillover effects into the Kingdom, suggesting a wait-and-watch approach to its impact on foreign investment, tourism and the construction sector.Jay Menon, lead economist ...
Ananth Baliga
http://www.phnompenhpost.com/business/watching-sidelines
Cambodia will weather financial storm: experts
The global stock market tumble may take the wind out of Cambodia’s property sector, but should have muted effects on the rest of the economy, analysts said yesterday. ...
Igor Kossov
http://www.khmertimeskh.com/news/14919/cambodia-will-weather-financial-storm--experts/
Cambodian secretary of state of commerce chaired the CLMV meeting in Malaysia
The Seventh Cambodia – Lao PDR – Myanmar – Viet Nam (CLMV) Economic Ministers’ Meeting (EMM) was held on 25 August 2015 in Kuala Lumpur, Malaysia, according to ASEAN secretariat’s press release.The Meeting was chaired by H.E. Mr. Pan Sorasak, Secretary of State for Commerce, ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/cambodian-secretary-of-state-of-commerce-chaired-the-clmv-meeting-in-malaysia-8884
Cambodian artists and filmmakers urge the government to prevent foreign dramas
A group of Cambodian artists and filmmakers requested the government to take action on the foreign dramas. Cambodia has lost some $6 million annually to buy foreign programs or dramas from Korea, Thailand, China, Hong Kong, and the Philippines. ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/cambodian-artists-and-filmmakers-urge-the-government-to-prevent-foreign-dramas-8880
Japan charts road to industrialization for Mekong region
Japan and the five Southeast Asian countries bordering the Mekong River adopted a blueprint Monday to boost industrialization in the subregion. It aims to boost the combined gross domestic product of the grouping to $4.7 trillion by 2020. ASEAN’s combined GDP is currently estimated at ...
The Japan Times News Staff
http://www.japantimes.co.jp/news/2015/08/24/business/japan-charts-road-industrialization-mekong-region/#.VdvM-Jf-SB2
Villagers accuse firm of taking some $60,000
Over 100 members of the Prov ethnic community in Ratanakkiri province have filed a complaint with a local rights group claiming to have been defrauded for tens of thousands of dollars by a broker for an international investment firm. ...
Phak Seangly
http://www.phnompenhpost.com/national/villagers-accuse-firm-taking-some-60000
Cambodia hails Chinese firm for helping develop telecom industry
Cambodian Minister of Post and Telecommunications Prak Sokhonn on Sunday praised Chinese-owned Southeast Asia Telecom (Cambodia), or SEATEL, for investing a huge amount of capital in the development of 4G services in Cambodia. ...
Global Post News Staff
http://www.globalpost.com/article/6634478/2015/08/23/cambodia-hails-chinese-firm-helping-develop-telecom-industry
SCG to invest up to $300m in Cambodia
Siam Cement Group expects to pour between US$200 million and $300 million (Bt7 billion to Bt10.7 billion) of additional investment into Cambodia over the next five years, said Aree Chavalitcheewingul, vice president for regional business of SCG Cement-Building Materials. ...
Pichaya Changsorn
http://www.nationmultimedia.com/business/SCG-to-invest-up-to-$300m-in-Cambodia-30267163.html
Corners cut in crowded ISP war
A Google search for Cambodian Internet service providers (ISPs) turns up a dizzying number of results, some advertising monthly rates as low as $18 for 4 Mb/s. ...
Jonathan Cox and Igor Kossov
http://www.khmertimeskh.com/news/14734/corners-cut-in-crowded-isp-war/
Coke betting big on Cambodia
Coca-Cola held the ground-breaking ceremony for its new $100 million production facility at the Phnom Penh Special Economic Zone yesterday, which when completed in 2016 will double the beverage behemoth’s Cambodian output over the next six years.The new facility, which was announced last November after ...
Ayanna Runcie and Ananth Baliga
http://www.phnompenhpost.com/business/coke-betting-big-cambodia
Few affordable options amid property boom
“The Most Luxurious Home in Phnom Penh,” the placard reads, behind a glowing architectural model of Sky 31, one of the city’s many high-end condominiums under construction. ...
James Reddick and Igor Kossov
http://www.khmertimeskh.com/news/14718/few-affordable-options-amid-property-boom/
The Sihanoukville MAKEOVER?
Aiming to attract investors to broaden the Kingdom’s manufacturing base and to boost the country’s industrial development, the government is alledgedly preparing a master plan to turn Sihanoukville province into a new special economic zone, said an official.The advisor to the Cambodian government, Dr Sok ...
Siv Meng
http://www.phnompenhpost.com/real-estate/sihanoukville-makeover
Another tax incentive to entice companies to CSX
In a bid to encourage companies to list on Cambodia’s beleaguered stock exchange, a new prakas released today will allow businesses to delay their monthly prepayment of tax on profit to the end of the year, according to an announcement on the Cambodia Securities Exchange. ...
Ananth Baliga
http://www.phnompenhpost.com/business/another-tax-incentive-entice-companies-csx