Steeper entry at Angkor temples

31 January 2017

Ticket prices for Angkor Wat are scheduled to increase to $37, from $20. Three-day passes will rise to $62, from $40, while week-long passes will cost $72, up from $60. Total revenue dropped $500 million to $3 billion in 2016 as international tourist arrivals increased 5 percent, crossing the 5 million mark for the first time.

Source:

http://www.phnompenhpost.com/business/steeper-entry-angkor-temples

Cambodia eyes Swedish trade

20 January 2017

Cambodia is seeking to expand its market for milled rice to Sweden and is looking for ways to cooperate further in trade and investment. Cambodia’s exports to Sweden were worth about $54 million in the first nine months of 2016, while imports were $3 million.

Source:

http://www.khmertimeskh.com/news/34526/cambodia-eyes-swedish-trade/

SECC stops derivatives licenses

20 January 2017

The Securities and Exchange Commission of Cambodia (SECC) will on February 28 stop issuing any new trading licenses to central counterparties, or clearing houses, in the kingdom’s fledgling derivatives market. There are currently four central counterparties and six derivatives brokers who received licenses to trade from the SECC.

Source:

http://www.khmertimeskh.com/news/34531/secc-stops-derivatives-licenses/

Fish farm project on the table

20 January 2017

A Chinese firm and its local partner have floated a proposal for a $100 million aquaculture project in Cambodia. The company’s proposed investment in aquaculture follows a plan announced last year by Norwegian company Vitamar to build a $23 million dollar marine fish farm in Sihanoukville.  

Source:

http://www.phnompenhpost.com/business/fish-farm-project-table

Logistics firm DSV launches rebranded local branch

20 January 2017

Global transport and logistics company DSV announced yesterday it started operations in Cambodia following its acquisition last year of UTI Worldwide and its office in the Kingdom. DSV acquired UTI Worldwide in January 2016 for a reported $1.35 billion, making it the fourth-largest freight forwarding company in the world.

Source:

http://www.phnompenhpost.com/business/logistics-firm-dsv-launches-rebranded-local-branch

Geared up for moto assembly

19 January 2017

Business tycoon Try Pheap yesterday celebrated the launch of a new subsidiary company, a motorcycle assembly plant in Kandal province, is part of a $50 million investment budget between Try Pheap Group and its Chinese joint-venture partner, Sichuan Grand Royal Group. The plant is expected to assemble 100,000 motorcycles in its first year, with a total operating capacity of 200,000 annually.    

Source:

http://www.phnompenhpost.com/business/geared-moto-assembly

New derivatives broker enters market

19 January 2017

Golden FX Link (Cambodia), the first financial firm to be granted a license by Cambodia’s Securities and Exchange Commission to be a central counterparty or a clearing house for derivative trading, officially appointed ASKAP Asset Management Co. as their second broker yesterday. The agreement with ASKAP was the company’s second after the appointment of FUGI Investment Excellence as a broker on November 23.

Source:

http://www.khmertimeskh.com/news/34469/new-derivatives-broker-enters-market/

Construction industry cooling down: analysts

18 January 2017

Government revenue collected on property transfers and construction services dropped off by 25 percent last year, $72 million last year, from $90 million in 2015. The total number of approved construction projects increased last year to 2,636, from 2,305 in 2015.

Source:

http://www.phnompenhpost.com/business/construction-industry-cooling-down-analysts

China firm eyes Takeo for giant agro project

18 January 2017

A Chinese company has unveiled a plan to establish rice production on 4,000 hectares of leased farmland in Takeo province. It would consider building a large rice mill on the land to process up to 100,000 tonnes of rice a year for export to China. It also unveiled a conceptual plan for a $100-million feed mill.

Source:

http://www.phnompenhpost.com/business/china-firm-eyes-takeo-giant-agro-project

Chinese to transform coastal provinces

17 January 2017

Top Chinese firms are keen to invest in the coastal provinces of Preah Sihanouk and Kampot would cover 337 hectares of land with $3 billion worth of investments in a large tourism area. Cambodia planned to host about seven million foreign tourists, with two million of them coming from mainland China, by 2020.

Source:

http://www.khmertimeskh.com/news/34344/chinese-to-transform-coastal-provinces/

Sugar mill to resume operation

17 January 2017

A $360 million sugarcane factory will restart its operation next month after stopping last June due to a shortage of raw material. The Rui Feng sugarcane mill opened last April with capacity to produce nearly half a million tons a year for export, mainly to Europe and China.

Source:

http://www.khmertimeskh.com/news/34341/sugar-mill-to-resume-operation/

Japanese investment in light industry desired

17 January 2017

Cambodia hopes to see Japanese investment in the light industry sector, which will help develop the kingdom’s labor force. Cambodia exported a total of $931 million to Japan in the first nine months of 2016 while imports from Japan in the same period were $209 million.

Source:

http://www.khmertimeskh.com/news/34342/japanese-investment-in-light-industry-desired/

Uber now eyes Cambodia

17 January 2017

US-based Uber, currently headquartered in San Francisco, will conduct a study on the feasibility of operating its ride-sharing services in Cambodia. The app-based Uber service is currently updating its technology to make it easier for smartphone users to get to their destinations.

Source:

http://www.khmertimeskh.com/news/34343/uber-now-eyes-cambodia/

Italy to set up chamber of commerce

16 January 2017

Italy will set up a chamber of commerce in Cambodia this year with the aim of promoting and strengthening trade and investment opportunities in the kingdom. Trade between Cambodia and Italy saw a remarkable increase from $144.4 million in 2012 to $244.2 million in 2014. Cambodia’s exports to Italy were valued at $161.3 million while imports from Italy were $82.9 million in 2014.

Source:

http://www.khmertimeskh.com/news/34290/italy-to-set-up-chamber-of-commerce/

EU Invests US$20 Million on Sustainable Production and Consumption

16 January 2017

Some 50 business intermediaries and partners of small and medium-sized enterprises have gathered recently in Phnom Penh to learn about openings for funding support by the European Union (EU) to implement the so-called SWITCH-Asia II project. The total amount of the EU grants was set at around US$20 million.

Source:

http://www.akp.gov.kh/?p=94705

Sleeker tax system nets more revenue

16 January, 2017

Cambodia collected $1.74 billion in customs and excise revenue in 2016, a 10 percent increase over the previous year. Combined revenue from GDT (15 percent to $1.49 billion) and GDCE topped $3.23 billion last year, representing 74 percent of the $4.3 billion 2016 national budget.

Source:

http://www.phnompenhpost.com/business/sleeker-tax-system-nets-more-revenue

Solid year to carry forward: NBC

13 January 2017

Cambodia achieved its anticipated 7 percent GDP growth on the continued good performance of its garment, tourism and construction and real estate sectors. Foreign direct investment (FDI) continued to flow into the country, reaching 10.7 percent of GDP.

Source:

http://www.phnompenhpost.com/business/solid-year-carry-forward-nbc

Plans for solar-powered industrial park illuminated

13 January, 2017

A joint venture between South Korean and Cambodian investors is planning to build a 100-megawatt photovoltaic solar on 100 hectares in Kampong Chhnang province, to provide cheap electricity for its tenants. The project could be spent $200 million with completed of construction within a year.  

Source:

http://www.phnompenhpost.com/business/plans-solar-powered-industrial-park-illuminated

Top stage for Bridge development project

12 January 2017

The Bridge, a luxury mixed-development project developed jointly by Singapore-based Oxley Holdings and Cambodia’s WorldBridge Land, is complete, with premises within it going on sale.

Source:

http://www.khmertimeskh.com/news/34168/top-stage-for-bridge-development-project/

Urban Living for the middle-income

12 January 2017

Two local investors have injected some $25 million to build a 12-story condo project called Urban Living in Phnom Penh, on 7.6 hectares in Meanchey district, for targeting middle-income couples. The construction would begin in April.

Source:

http://www.khmertimeskh.com/news/34169/urban-living-for-the-middle-income/

Chinese top Angkor Wat

12 January 2017

Most of the foreign tourists who visited the UNESCO World Heritage-listed Angkor Archaeological Park last year, China is the second-largest group of tourists in 2016, the first being tourists from Vietnam. Cambodia welcomed close to 2.2 million foreign tourists last year, an increase of 4.6 percent compared to 2015 and generated $62.5 million in revenue.

Source:

http://www.khmertimeskh.com/news/34172/chinese-top-angkor-wat/

Tariff cuts slash $150M from revenue

12 January, 2017

Cambodia collected $1.74 billion in customs and excise revenue in 2016, a 10 percent increase over the previous year, despite losing $150 million in potential revenue as a result of ASEAN-related tariff reductions.

Source:

http://www.phnompenhpost.com/business/tariff-cuts-slash-150m-revenue

Some S’ville Beaches to Be Protected Areas

11 January 2017

The Tourism Ministry’s new plan to develop Sihanoukville’s beaches will keep some conservation areas off-limits to development in an attempt to attract more 2 million local tourists and 1 million international tourists by 2020.

Source:

https://www.cambodiadaily.com/business/some-sville-beaches-to-be-protected-areas-123234/

New border facilities to enhance trade, tourism with Laos

11 January, 2017

Cambodia and Laos officially inaugurated a newly expanded border crossing, Trapeang Kriel-Nong Nokkhiane border gate, to increase trade and tourism between the two countries. Laos, the fifth-largest country, 315,000 Laotians visited Cambodia during the first 11 months of 2016.

Source:

http://www.phnompenhpost.com/business/new-border-facilities-enhance-trade-tourism-laos

Affordable housing for all

09 January, 2017

Affordable houses for low-income earners and state workers will go on sale within two weeks. The project will be ended by 2018 with $60 million, about eight kilometers from the Takhmao roundabout. The demand for housing for Cambodia will be one million units in 2030, of which the demand in the capital will be about 52,000 units.

Source:

http://www.khmertimeskh.com/news/34013/affordable-housing-for-all/

Bank plans $10 million for rice investment

09 January, 2017

Cambodian Rice Bank (CRB) plans to invest about $10 million in building a rice silo and a drying kiln in Battambang province. Cambodian government sent a draft memorandum of understanding to the Chinese government seeking a loan of about $300 million to build 10 large silos, which could store a total of 1.2 million tons of paddy rice to ensure both millers and exporters could have a continuous supply.

Source:

http://www.khmertimeskh.com/news/34011/bank-plans--10-million-for-rice-investment/

Cambodia pushes for e-commerce initiative

09 January, 2017

As a coordinator of a group of least developed countries (LDCs), Cambodia has plans to encourage countries within the group to implement elements of their own “e-commerce” initiative to further their advancement. The LDC group consists of 36 member states and the kingdom has a one-year mandate from February 2017 to February 2018.

Source:

http://www.khmertimeskh.com/news/34010/cambodia-pushes-for-e-commerce-initiative/

Kampot seaport to boost tourism

06 January, 2017

Kampot province, which edges into the Gulf of Thailand, is set to be transformed into a tourist seaport with the construction of an $18 million marine ferry terminal funded by the Asian Development Bank (ADB). This project will be completed by the end of 2018 or early 2019.

Source:

http://www.khmertimeskh.com/news/33964/kampot-seaport-to-boost-tourism/

Direct flights from India soon

06 January, 2017

India remains optimistic that a commercial airline will begin operating direct flights between the two countries, to boost the number of tourists. In the agreement, both countries agreed to allow direct flights from Phnom Penh and Siem Reap to New Delhi and select Indian cities.

Source:

http://www.khmertimeskh.com/news/33962/direct-flights-from-india-soon/

Kingdom preps for China trade center

06 January, 2017

Cambodia planned to open a trade center in China this year to strengthen the trade, culture and tourism relations between both countries. Last June, the Tourism Ministry established the China Ready Center (CRC) to cater to the two million Chinese tourists. The government plans to attract two million Chinese tourists per year by 2020.

Source:

http://www.khmertimeskh.com/news/33960/kingdom-preps-for-china-trade-center/

ISP pushes into new territory

06 January, 2017

Today Communication, Cambodia’s youngest internet service provider (ISP), is looking to gain traction in the Kingdom’s crowded fixed-line internet market with a bold move into the provinces. The number of fixed-line internet subscribers at 82,926 as of June 2016, compared to more than 7 million mobile internet subscribers.

Source:

http://www.phnompenhpost.com/business/isp-pushes-new-territory

$3 billion 6-star hotels

05 January, 2017

China-based Guangzhou Co. Ltd. plans to inject $3 billion in building luxury six-star hotels in Phnom Penh and Sihanoukville, the number of tourists visiting the country is expected to increase. Cambodia last year recorded around 900,000 Chinese tourist arrivals and the kingdom is on track by 2020 to host about seven million foreign tourists.  

Source:

http://www.khmertimeskh.com/news/33909/-3-billion-6-star-hotels/

S’ville airport’s passenger subsidy scheme renewed

05 January, 2017

Last January, Cambodia Airports, the French-owned firm that operates the Kingdom’s three international airports, began offering airlines $10 per passenger on international scheduled flights departing from Sihanouk International Airport. Sihanouk International Airport received an estimated 150,000 passengers in 2016, compared to 94,630 in 2015.

Source:

http://www.phnompenhpost.com/business/sville-airports-passenger-subsidy-scheme-renewed

Postal service to launch e-commerce

05 January, 2017

The state-owned Cambodia Post will launch an online shopping platform in March in a move to tap the current rise in e-commerce activity. The draft e-commerce law has 12 chapters that are divided into 90 articles, covering details of credit and debit card usage to the use of online signatures to purchase goods over the internet.

Source

http://www.khmertimeskh.com/news/33904/postal-service-to-launch-e-commerce/

Revised customs codes now in effect

05 January, 2017

The World Customs Organisation (WCO) has called on customs administrators worldwide to adopt its revised nomenclature of international trade goods, which entered into force on January 1. Cambodia has applied the system since 2002 and the revised HS codes have increased the number of Cambodian tariff lines to a total of 10,839, from 9,574.

Source:

http://www.phnompenhpost.com/business/revised-customs-codes-now-effect

Rock-themed coffeehouse looking for local partners

04 January, 2017

Classic Rock Coffee, a US-based coffeehouse concept chain, is looking to enter the Cambodian market. Potential franchisees must hold a minimum of $50,000 in cash or liquid assets and have an overall financial net worth of $400,000 in order to be eligible. It also has franchises operating in Qatar, Nigeria, Pakistan, India and Bangladesh, and is set to open its first store in Jordan.

Source:

http://www.phnompenhpost.com/business/rock-themed-coffeehouse-looking-local-partners

CDC warns construction companies

04 January, 2017

Investment companies were warned on Monday by the Council for Development of Cambodia (CDC) that they must apply for construction permits before starting work. The value of foreign direct investment (FDI) was $1.19 billion in the first nine months of this year, increasing by about 59 percent from $489.5 billion in the same period last year.

Source:

http://www.khmertimeskh.com/news/33861/cdc-warns-construction-companies/

Mega construction supply center

04 January, 2017

A Chinese company will spend roughly $60 million to build a construction supply center on9.3 hectares of land in Russey Keo distriect, Phnom Penh. Total investment in the construction sector was some $8.2 billion in the first 11 months of 2016, an increase of roughly 178 percent.

Source:

http://www.khmertimeskh.com/news/33862/mega-construction-supply-center/

900,000 Chinese tourists in 2016

04 January, 2017

Cambodia last year recorded around 900,000 Chinese tourist arrivals and the kingdom is on track by 2020 to host about seven million foreign tourists, with two million of them coming from mainland China. Tourism is expected to grow and by 2020 we can expect seven million tourists, of which two million will be from China.

Source:

http://www.khmertimeskh.com/news/33864/900-000-chinese-tourists-in-2016/