Rocket Internet blames poor tax compliance for pullout

Rocket Internet, the successful German-based internet copycat, says that despite its interest in Cambodia’s e-commerce market, tax issues in the Kingdom had forced it to “reposition” its projects. In July, the company launched an online retail site, saying it planned to invest millions in the country’s ...

Sumimoto Mitsui sins agreement with Acleda

One of Japan’s biggest banks, Sumimoto Mitsui Banking Corporation (SMBC) signed agreement with Acleda Bank to share market data and banking services. The deal will give Japanese investors information on the economy and offer other banking services and is aimed at improving bilateral trade and investment. The deal would ...

Earning money and making a difference

Social enterprise may be more than just a buzzword if last Saturday’s attendance at Cambodia’s second-ever conference on the matter was anything to judge by. The 350 person-plus crowd of attendees consisted predominately of Cambodians, for whom doing business appears to be about more than merely ...

http://www.phnompenhpost.com/index.php/2012082758283/Business/the-business-of-making-a-difference.html

Chinese bank loans seek to aid rice millers

China’s Export-Import Bank officials proposed to provide loans of up to US$70 million for rice milling in an effort to aid Cambodia’s efforts to export a million tonnes of rice by 2015, government officials said yesterday. The bank’s officials visited Cambodia last week to met with Cambodian ...

http://www.phnompenhpost.com/index.php/2012082758282/Business/chinese-bank-pads-million-tonne-rice-goal.html

Cambodian Transparency Organization Applauds US Rule On Oil, Gas and Mining Payments Disclosure

Cambodians for Resource Revenue Transparency (CRRT) wrote a letter to Ms. Elizabeth M. Murphy, Secretary of U.S. Securities and Exchange Commission on February 7, 2012 to back up PWYP’s recommendations and to encourage the Commission to define the “Project” in relation to each lease, license ...

US Extractive Firms Obliged to Disclose Overseas Payments

The U.S. Securities and Exchange Commission (SEC) has adopted rules that would make it a legal requirement for listed companies operating in the extractive industries and doing business in Cambodia to disclose all major payments they make to the government. The rules, which were adopted in ...

Conference focus on social enterprises

Cambodia’s second conference on social enterprise is set to take place tomorrow with the aim of tackling poverty, social exclusion and health and environmental problems, organisers say. The all-day conference, at the Cambodia-Japan Conference Centre at the Royal University of Phnom Penh, will facilitate discussions among participants ...

http://www.phnompenhpost.com/index.php/2012082458255/Business/conference-focus-on-social-enterprises.html

ASEAN-US business summit next week

United States Trade Representative Ron Kirk, will spend two days, August 30 and 31, in Siem Reap attending the 44th ASEAN Economic Ministers’ meeting and the ASEAN-US Business Summit. He is also scheduled to meet separately with Cambodian leaders and other participating ministers to discuss bilateral ...

http://www.phnompenhpost.com/index.php/2012082458256/Business/siem-reap-to-host-asean-us-business-summit.html

Customs to Give Preference to Trusted Firms

The department of customs and excise will begin certifying companies it deems trustworthy so that their goods have easier passage across Cambodia’s borders, an official said yesterday. Traders will receive ranks based on compliance with customs rules, he [Nuom Chanrith, the director of planning at the Finance Ministry’s general ...

Opportunities, challenges for ASEAN

Cambodia will face both challenges and opportunities when the ASEAN Economic Community (AEC) combines its 10 countries into a single market for economic development, a move intended for 2015, officials said during a round-table discussion yesterday. Sok Siphanna, an adviser to the Ministry of Foreign Affairs and ...

http://www.phnompenhpost.com/index.php/2012082358243/National-news/cambodians-will-compete-with-asean-countries.html

Rail freight services begin

Railway freight services between Phnom Penh and Touk Meas commune, in Kampot province’s Banteay Meas district, the location of a Siam Cement factory about 40 kilometres north of Kampot town, began yesterday, finally putting the Toll Royal Railways concession on an earning basis. According to Toll Royal Railways ...

http://www.phnompenhpost.com/index.php/2012082358231/Business/phnom-penhs-rail-freight-services-begin.html

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