Makro (Cambodia) Co Ltd is set to invest $12.7 million in its third Cambodian outlet, this time in northeast Phnom Penh’s Chroy Changvar district, an area dotted with high-end residential developments, as shopping behaviours continue to evolve in tandem with economic growth. The Cambodian Investment Board, under the Council for the Development of Cambodia (CDC), has agreed to issue a final registration certificate for the project – expected to provide 161 jobs – located in Bak Kheng Leu village in Chroy Changvar’s northernmost commune of Bak Kheng, the CDC said last week. Makro entered the Cambodian market in 2017, and…
Author: Hin Pisei
Cambodia netted $241.41 million from exports to Canada in the first quarter of 2022, marking an 8.1 per cent rise year-on-year from $223.23 million, and accounting for 98.2 per cent of bilateral trade over the period, according to Customs. Statistics issued by the General Department of Customs and Excise of Cambodia (GDCE) show that trade between the two countries in the period from January-March amounted to $245.85 million, up 6.4 per cent year-on-year, with imports from Canada to the tune of just $4.43 million, down 43.1 per cent. The Cambodia Chamber of Commerce (CCC) is forging ahead with plans to…
The Kingdom’s leading economists and private sector representatives have called on the US to renew its tax preferential status for Cambodian exports, as a Cambodia Chamber of Commerce (CCC) delegation departed for a weeklong business visit to the US, where they will meet with US companies to discuss investment opportunities and partnerships. A delegation of the CCC led by president Kith Meng left for Washington on May 8. They will be accompanying Prime Minister Hun Sen to the US-ASEAN Summit on May 12-13 and related meetings in Washington, where they will remain until May 15. According to a published itinerary,…
Local coffee company KOFI Co Ltd has launched two products aimed at meeting increased Cambodian market demand, as it also announced plans to export to Japan and South Korea in the near future. At the official launch of KOFI Co Ltd’s new coffee products Veayo and Veha, meaning “wind” and “air” in Khmer, managing director Hei Dara said that a number of companies from Japan and South Korea have contacted several players in the Cambodian roasting coffee industry, including KOFI, to assess the taste and quality of coffee products from the country for export to both countries. “Some companies from…
The Ministry of Agriculture, Forestry and Fisheries and the Czech Republic plan to sign a memorandum of understanding (MoU) on “Cooperation in the Agricultural Sector” soon following a May 5 meeting at the ministry’s headquarters. The deal encompasses training aimed at improving quality and productivity in agricultural production to meet demand from European markets, according to a statement posted on minister Veng Sakhon’s official Facebook page. The minister on May 5 held discussions with Czech ambassador Martin Vavra on several important subjects ahead of the MoU signing, which is expected to take place in the near future, the statement said.…
Cambodia’s export of milled rice to international markets reached more than 220K tonnes in the first four months of the year, marking an increase of almost 15 per cent over the same period last year. The Cambodia Rice Federation (CFR) said in a press statement that from January to April, total exports of milled rice were 221,138 tonnes, an increase of 14.88 per cent. Exports of un-milled rice totaled at 1,648,474 tonnes. Together, milled and un-milled rice generated $516.21 million. Lun Yeng, CRF general-secretary, said there were main factors behind the increase. “The first factor is increased demand in Europe…
The General Department of Taxation (GDT) on May launched the ‘GDT Lucky Draw App’ to motivate and encourage the public to fulfill their tax duty, strengthen tax payment culture and promote fiscal consistency. Minister Attached to the Prime Minister and GDT director-general Kong Vibol said that the app is an initiative to give the public the chance to contribute to tax collection and would also strengthen the GDT’s tax mobilisation strategy. “The GDT Lucky Draw App is just one of dozens of mechanisms of tax measures we are using to strengthen sustainable, consistent tax collection. This program is like an…
The Council for the Development of Cambodia (CDC) has approved final registration certificates for six companies – worth $152.6 million – according to a May 5 statement. The six companies are involved in the production of tiles, solar panel assemblies, a trade centre project, electronic panel assemblies, decorative lights and artificial plants, and colourful lighting systems. The projects are located in Phnom Penh, Kandal, Preah Sihanouk, Takeo, and Kampong Speu. Royal Academy of Cambodia economic researcher Ky Sereyvath said that the newly approved investment projects are notable, as they are not a part of the garment sector. This is due…
A senior official at The Ministry of Commerce requested all vendors and traders register their businesses in order to receive their legal company identity and protect their business. The request was made by Pen Sovicheat, undersecretary of state at the ministry, during a workshop on business registration and law on commercial enterprise organised by the Trade Training and Research Institute, an institution under the commerce ministry. He said by getting their business registered, they could also boost exports of local products to international markets through existing free trade agreements. He said the government, with the commerce ministry as its administrator,…
More than 13,600 companies are now listed in the government’s Online Business Registration System, also known as the Single Portal, nearly two years after its launch, according to a notice from the Online Business Registration Service on May 4. The notice said that as of May 4 at 2:00pm, a total of 13,685 companies had successfully registered on the IT platform, with another 1,264 under review. Additionally, since the system’s inception, 9,770 companies have made reservations to complete the registration process at a later date, with 365 more under review. The Single Portal registration process takes an average of 8…