Cambodians and expats in the Kingdom’s biggest cities are increasingly finding convenience in using their computers or smartphones to order food and drinks to their homes and workplaces, fuelling demand for online meal delivery platforms.
While Prime Minister Hun Sen has publicly expressed his distaste for the Trans-Pacific Partnership (TPP), which was dealt a critical blow by US President Donald Trump’s decision to withdraw the United States from the agreement, economists say there has been little visible progress in cementing a rival multilateral free trade agreement that puts China and ASEAN in leading roles.
The value of Cambodia’s international trade surged to $22 billion last year on double-digit growth of both imports and exports, according to newly released data from the Ministry of Commerce.
Prime Minister Hun Sen accused the World Trade Organization (WTO) of operating under a double standard yesterday, claiming the international trade body was applying pressure on small developing economies while overlooking the regulatory breaches of its more developed member states.
Phnom Penh Automobile Co Ltd became the latest metered taxi operator in the capital after launching operations yesterday with 25 vehicles, aiming to fill what it says is a growing demand by the capital’s residents and visitors to use air-conditioned taxis to get around.
In Cambodia, the wedding business is booming and the country’s demographics – with a third of the population between 15 and 35 years old – means there are lucrative opportunities for wedding planners and caterers. The Post’s Hor Kimsay sat down with Touch Ratha, general manager of Seng Hok Heng, one of the largest catering companies in Cambodia, to discuss a business built around couples tying the knot.
Nagacorp Ltd, the operator of Phnom Penh’s NagaWorld casino and hotel complex, announced that it has set up a dedicated representative office in the Russian port city Vladivo-stok to help with the construction of its resort and casino project in the nearby Primorye Integrated Entertainment Zone, the company said in a filing on the Hong Kong Stock Exchange.
Cambodian telecom Smart Axiata announced a new partnership yesterday with the Asia Foundation to support their Tekhub initiative and help develop the country’s startup ecosystem.
The Cambodian government has made negligible progress in bringing small- and medium- enterprise (SMEs) into the regulatory fold, reporting a less than 0.5 percent increase in the total number of companies registered in the last five years – a sign business professionals claim shows that tax incentives aimed at increasing SME compliance and expanding the country’s low tax base have garnered little traction.
South Korea’s state-run deposit insurer opened its first overseas branch in Phnom Penh yesterday in a move to sell off the bank and property assets of Korean banks that went belly up in 2011.