News

Cambodia’s Economic Growth Will Help Poverty Reduction

Cambodia economic growth was 7.3 percent in 2012. Agriculture grew by 4.3 percent, crops by 4.9 percent, fisheries by 6.7 percent, industry by 9.2 percent, garment [sector] by 6.9 percent and the service industry by 8.1 percent, said Dr Hang Chuon Naron, Secretary of State ...

http://thesoutheastasiaweekly.com/

Cambodian Government Agrees In Principle to Risda Opening Rubber Estates

The Cambodian Government has agreed in principle with Rubber Industry Smallholders’ Development Authority (RISDA) to open 20,000 hectares of rubber estates in that country on a joint venture basis, its Chairman Tan Abdul Tamby said. The former Melka chief minister said the Federal Government through the ...

http://www.bernama.com/bernama/v7/ge/newsgeneral.php?id=930464

WHO Urges Higher Taxes On Tobacco

The World Health Organization (WHO) yesterday urged Cambodia to increase taxes on cigarettes and other tobacco products-currently the lowest in the world-in order to raise revenue and deter smokers. Ayda Yurekli, coordinator of the WHO’s tobacco control economics unit, said during a workshop in Phnom Penh ...

Canadia, Gov't Look to Soothe Tax Process

With the deadline to pay annual property taxes rapidly approaching, hundreds of Phnom Penh homeowners queued this week at Canadia Bank’s headquarters on Monivong Boulevard to pay their tax bills in relative comfort, and avoid long visits to district and municipal taxation offices. Canadia Bank signed ...

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 ...

China provides largest loan to Cambodia

China is the largest provider of financial assistance to Cambodia for agriculture and irrigation development in the last three years, Cambodia’s Minister of Finance Keat Chhon said on Tuesday. Since 2010 to date, he said, Cambodia has received a total loan of $561 million and a ...

http://www.chinadaily.com.cn/business/2012-07/17/content_15591814.htm

Government Announces Anti-Graft Price Lists

Eight months after the anti-graft provisions of the Anti-Corruption Law came into effect, the Anti-Corruption Unit (ACU) announced yesterday that it would start a widespread campaign to introduce standardized fees for government services in every commune office—though it will likely be months before any visible steps are taken. More than 2,000 ...

Cambodia enters global marketplace, stock trading begins

After a string of false starts, Cambodia’s stock market finally started trading on Wednesday, marking a significant step forward for an impoverished country blighted by corruption and scarred by decades of civil war. But on Wednesday, traders were reaping fast gains as the price of ...

http://www.reuters.com/article/2012/04/18/cambodia-bourse-idUSL3E8FH30X20120418

Assembly Approves 2010 Gov’t Spending

Following a three-hour debate at the National Assembly, lawmakers passed a draft law approving the $2.5 billion the government spent in 2010. During the debate, CPP lawmaker Cheam Yeap presented a 10-page document that he said justified the $2.5 billion in spending, which was 25 percent ...

Cambodia expects 7 pct GDP growth in 2012: Finance Minister

Cambodia’s Finance Minister Keat Chhon said Monday that the country’s Gross Domestic Product (GDP) growth is expected at 7% this year. Cambodia’s forecast was based on the increases in garments exports, tourist arrivals, and agriculture as well as a gradually recovered real estate sector, the ...

http://news.xinhuanet.com/english/business/2012-03/12/c_131462003.htm

Railway impact reports nowhere to be seen

The Asian Development Bank (ADB) has not made public the last two quarterly reports on the impact of resettling families who are being evicted for a $142 million railway rehabilitation project. The reports, which are required under an ADM loan agreement with the government, haven’t been ...

South Korea lends $52.2M for road renovation

South Korea has loaned Cambodia $52.54 million to renovate the 63.5km-long National Road 21, which connects the provinces of Kandal and Svay Rieng, according to a statement yesterday by the Ministry of Finance ...

Even the Cambodian elite have to pay taxes, ministry warns

The Ministry of Finance has warned Phnom Penh’s wealthiest property owners that they will be harshly penalized if they fail to pay property tax due by the end of the month. According to a notice issued by the ministry on October 27, the window for tax ...

Revenues for first seven months double to $1.6bn

The government has collected 6,557 billion riel, or about $1.6 billion, in revenues in the first seven months of 2011, a figure that is twice that of the $801 million in revenues that were collected during the same period last year, data released by the ...

Report Says Reforms Were Hard to Drill Home at Petrol Authority

The Cambodian National Petroleum Authority restricted vital information and failed to cooperate with consultants working for the Asian Development Bank who were deployed to the authority between 2007 and 2010 as part of a $1 million project to strengthen governance at the body, a new ...

Property Developers Seek Ministry Licenses

Several property developers ave approached the Ministry of Finance to ask for licenses after the ministry warned buyers last month not to purchase housing fro developers who are not licensed to sell their properties. The ministry’s warning, issued Aug 11, identified three local developers that ...

Minister seeks funds for climate change

Finance minister Keat Chhon yesterday identified reforming the management of natural resources as a priority in the government’s efforts to reduce poverty.  Keat Chhon also called on wealthier nations to help fund climate change-related projects in developing nations like Cambodia. Minister of Environment Mok Mareth said ...

http://www.phnompenhpost.com/index.php/2011083151366/National-news/minister-seeks-funds-for-climate-change.html

Minister’s appeal to listed companies

The opening of the Cambodia Securities Exchange (CSX) was marked by a speech from Minister of Finance Keat Chhon, who urged three state-owned companies to speed up their initial public offerings. No companies, state-owned or otherwise are currently trading on the new market. Telecom Cambodia, ...

http://www.phnompenhpost.com/index.php/Business/lets-get-the-ball-rolling.html

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