Phnom Penh’s condo market has been volatile and in a bubbly phase, mainly due to speculation and high supply. ...Read more
Phnom Penh’s condo market has been volatile and in a bubbly phase, mainly due to speculation and high supply.
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Explore opportunities to boost your income in Cambodia with Angkor Times. From insightful blogs on starting a business, investing, and making money online, to updates on the latest trends in startups and SMEs in Cambodia, this category offers practical tips and strategies to help you succeed in the Cambodian market. Stay informed and take your financial journey to the next level.
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Prime Minister Envisions Preah Sihanouk as Cambodia’s Premier Logistics Hub, Driving Economic Growth Prime Minister Hun Manet unveiled the Royal Government of Cambodia’s ambitious plans to transform the coastal province of Preah Sihanouk into the nation’s foremost logistics hub during a ...Read more
Prime Minister Envisions Preah Sihanouk as Cambodia’s Premier Logistics Hub, Driving Economic Growth
Prime Minister Hun Manet unveiled the Royal Government of Cambodia’s ambitious plans to transform the coastal province of Preah Sihanouk into the nation’s foremost logistics hub during a gathering with garment workers in the Prey Nob district of Preah Sihanouk. The Prime Minister emphasized that the government has already set in motion a comprehensive master plan for the province’s development.
In this endeavor, the Ministry of Public Works and Transport (MPWT) has been tasked with the pivotal role of enhancing railway and deep-seaport infrastructure to facilitate the efficient movement of goods. Prime Minister Hun Manet underscored the pivotal role that port and railway infrastructure development will play in propelling Cambodia’s rapid socio-economic expansion.
He articulated, “The initial phase of the deep-sea port expansion will significantly enhance the flow of goods within Cambodia and to and from the country. This will render cross-border shipments through Cambodia’s deep-sea port far more cost-effective.”
The successful completion of the first phase of the deep-water port expansion is projected to streamline cargo container movement, reducing shipping costs from the current $400 to $500 per container to a mere $200. The Sihanoukville Autonomous Port Terminal’s initial phase boasts a length of 350 meters and a depth of 14.5 meters and is being constructed with a loan exceeding $200 million from Japan.
Furthermore, the Prime Minister urged MPWT to investigate the feasibility of upgrading railway lines to achieve a maximum speed of 80 kilometers per hour, up from the current 50 kilometers per hour. He explained, “I have advised MPWT to explore ways to reduce land transportation costs. The completion of this railway project will significantly enhance our capacity to transport goods.”
Emphasizing the government’s unwavering commitment to infrastructure development, the Prime Minister assured, “The Cambodian government will persist in building infrastructure, as it serves to diminish transportation expenses and invigorate the economy.”
At present, Cambodia boasts two railway lines, with one connecting Phnom Penh to Sihanoukville and the other linking Phnom Penh to Poipet in Banteay Meanchey province, where it shares a border with Thailand. The Royal Railway, a subsidiary of the conglomerate Royal Group, manages the country’s railway system. In early 2023, MPWT, in collaboration with Chinese companies, presented the results of a study on the Phnom Penh-Poipet railway project, encompassing a total length of 382 kilometers.
Read lessCambodia's economic growthCambodian railway systemCargo container movementCoastal province developmentCross-border shipmentsDeep seaport infrastructureDeep-sea port expansionEfficient goods movementInfrastructure developmentLand transportation costsMaster plan for developmentMinistry of Public Works and TransportMPWTPhnom Penh-Poipet railway projectPort and railway developmentPreah Sihanouk logistics hubPrime Minister Hun ManetRailway infrastructure upgradeShipping cost reductionSihanoukville Autonomous Port TerminalSocio-economic expansion
Tracking Cambodia’s Industrial Growth: End of 2023 Factory Count Revealed As of the end of 2023, Cambodia boasts a total of 2,125 operational factories, marking a notable increase of 7.21 percent compared to the previous year, according to an official report ...Read more
Tracking Cambodia’s Industrial Growth: End of 2023 Factory Count Revealed
As of the end of 2023, Cambodia boasts a total of 2,125 operational factories, marking a notable increase of 7.21 percent compared to the previous year, according to an official report released on Tuesday.
The report, issued by the Ministry of Industry, Science, Technology, and Innovation, highlights the opening of 241 new factories alongside the closure of 98 establishments throughout the year.
These factories, spread across the nation, collectively represent an investment capital of US$18.56 billion, reflecting an 11.24 percent surge from the figures recorded in 2022, the report indicates.
Furthermore, the report underscores the productive output of these factories, with a production volume totaling US$16.36 billion in the past year. This demonstrates a notable increase of US$531 million, equivalent to 3.35 percent, compared to the previous year’s data.
H.E. Hem Vandy, Minister of Industry, Science, Technology, and Innovation, emphasized the industrial sector’s significant contribution to Cambodia’s economic growth, noting that it accounted for approximately 7.7 percent of the nation’s economic expansion in 2023.
During an annual meeting held on Feb. 20, Minister Vandy outlined projections for the industrial sector’s growth in 2024, anticipating a continued expansion of around 8.5 percent. He attributed this growth forecast to the expected recovery of the garment sub-sector, complemented by the sustained robust performance of the non-garment manufacturing sub-sector.
The garment, footwear, and travel goods industry remain pivotal in Cambodia’s economic landscape, serving as the largest foreign exchange earner for the nation. Presently, this sector comprises approximately 1,300 factories and branches, providing employment opportunities to nearly 900,000 workers, predominantly female.
Source: AKP
Read lessCambodia factory employment dataCambodia footwear industry analysisCambodia garment sector outlookCambodia industrial growthCambodia industrial sector statisticsEconomic contribution of garment industry CambodiaEconomic impact of factories in CambodiaFactory in Cambodia 2023Female workforce in Cambodian factoriesInvestment capital in Cambodian factoriesMinister Hem Vandy statement on industrial growthMinistry of Industry Cambodia reportProduction volume of Cambodian factoriesTravel goods industry Cambodia trends
If you are looking to start up a business with profitable potential, this is often a good business to be in because the world health and fitness club market is projected to grow. A fitness business is targeted around providing ...Read more
If you are looking to start up a business with profitable potential, this is often a good business to be in because the world health and fitness club market is projected to grow. A fitness business is targeted around providing wonderful instrumentation, skilled instruction, and coaching. Like any other business, starting a business require a lot of finance, technique, equipment, and so on. Starting a business for the first time might not be very successful at first, and business owner probably has to face many challenges; however, that is a nature of owning a business, we start from zero point to the highest point, which means the business start to grow bigger and bigger, and recognized by many people. For those who are kind of interested in setting up a fitness business, you should be aware of that a fitness business not only need excellent equipment, personal training, but it requires more than that. Here are some tips that help you to start up a fitness business.
How to start a fitness business in Cambodia
1. You have to know what types of fitness business that you want to operate
There are many alternative sorts of fitness businesses out there. You’ll become a personal trainer, or operate your own facility. Each of them has their own advantages and disadvantages. Of course, each types of fitness business require different skills and equipment, so make sure you choose the right one that fit your abilities, and also deciding on these also help you to avoid uncertain event happen in the future.
2. Provide some information for customer to aware of
Whether you wish to acknowledge of how to begin a fitness business or manage a gym, you are required to possess or some background information in fitness so that customers will understand what types of business that you’re running.
3. Creating a business plan and choosing entity
Training in fitness business is not the solely education you will need. you are conjointly to do a great deal of analysis into learning precisely what it takes to start a business. When starting any types of business, you should create a business plan in advance because once you write a business plan, there’s a great deal you will need to incorporate. You would possibly realize it useful to use a business set up guide to create certain covering all of your bases. And the business should include analysis of the market, your competition, marketing and selling, and more. These, of course, help you decide and acknowledge what’s more that you need for your business. Additional to this, it’s very essential to select the business entity beforehand because it can help you to protect your business from financial issues.
4. Get insurance and work permit
There are some business licenses and permits needed in Cambodia. You need to get your work permit, which will benefit to your future business. You also have to encourage your instructors to get an insurance as well.
The average expense for starting a fitness is around $10000 to $50000. Other things will also be covered differently like some equipment, wages, electricity expenses, and so on.
Starting a Fintness Business in Cambodia
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The way to register a business in Cambodia is simply straightforward, you just need to follow the guideline of the Ministry of Commerce through the legal procedure. Registration for business now, you can conduct through the online system, which makes ...Read more
How do I register my business in Cambodia?
The way to register a business in Cambodia is simply straightforward, you just need to follow the guideline of the Ministry of Commerce through the legal procedure. Registration for business now, you can conduct through the online system, which makes it easy to do. However, the Moc gives you only 15 days to complete the application, otherwise, your documents will be eliminated from the system and you need to restart all over.
Before you decide to conduct registration, you must consider the type of business to run. There are several kinds of business out there in Cambodia, including sole proprietorship, private limited company, public limited company, a foreign company, or partnerships.
All of which require registration differently, so it’s worth understanding the procedure. In this article, you will understand the process of registration for each of those.
A. Sole Proprietorship (sole trader)
The type of enterprise, that business entity owned and run by only one person without legal distinction between owner and business.
To register:
Step 1: To register, you need to log in as a registered user of the MoC website and choose “Incorporate a Sole Proprietorship”.
Step 2: Filling general information, address and contacts information, and owner information.
B. Private Limited Company/ Public Limited Company/Foreign Company
All type of business is different from each other:
- Public Limited Company refers to a company that opens publicly sell shares on the stock market.
- Private Limited Company refers to companies that do not sell shares on the stock market and it limited the shareholders to the only maximum of 50 people.
To register:
Step 1: To register, you need to log in as a registered user of the MoC website and choose “Incorporate private limited company or public limited company”.
Step 2: Filling general information, address and contacts information, director information, and share and shareholders information.
C. Partnerships
It’s a kind of business that is owned and operated by several individuals.
To register:
Step 1: To register, you need to log in as a registered user of the MoC website and choose “Incorporate private limited company or public limited company”.
Step 2: Filling general information, address and contacts information, partner information, and manager information.
According to this process, registration is quite simple for entrepreneurs and business people to register. I hope this information will help people who would like to run a business understand this simple procedure.
More info, visit: https://www.businessregistration.moc.gov.kh/starting-a-business-2/register/
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