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Category: Money

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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SOVANN
SOVANNExperienced
Asked: April 15, 2021In: Money

How Can Cambodian People Make a Living During Coronavirus?

How can Cambodian People Make a Living During Coronavirus? Here are how Cambodian people are making a living during covid19 pandemic. 1. Food Stores and Restaurants Selling food is a hot business in Cambodia. During the covid19 pandemic, some areas in Cambodia ...Read more

How can Cambodian People Make a Living During Coronavirus? Here are how Cambodian people are making a living during covid19 pandemic.

1. Food Stores and Restaurants

Selling food is a hot business in Cambodia. During the covid19 pandemic, some areas in Cambodia were locked down for at least 14 days followed by the law and ministry of health. People are likely to stay at home ordering food. Both small, medium, and big restaurant and food stores were closed their shops, yet they are allowed to sell food online. The restaurants and food shops connected to the delivery service companies delivering their food to customers every day. This how the food store and restaurant they are making money.

2. Grocery Stores

Small Grocery Stores are allowed to sell as usual, but they are acquired to follow the Ministry of health and local authorities’ procedures to sell those grocery products to their customers.

3. Social Media Influencers

Social media influencers such as Facebook gamers, inspirational speakers, YouTuber, and other internet marketers are making money from their channels as usual, but the income is decreased comparing to the normal day or year without coronavirus affection.

4. Civil servants

Civil servants are the government staff. They have monthly salary as usual. They are low risk then other people in term of financial issue as they are the civil servants.

5. Corporate businesses

Some businesses were closed such as Factories, hotels, guesthouses, ..etc. People who are working for tourism sector are the most affected people. All staff who were working there were resigned and looked for a new opportunity while some other remain no job, yet they return to stay at homeland to escape from covd19.

6. Non-Profits Organizations

Some organizations have been reduced staffs as they don’t have more fund to support the projects ‘activities while some other organizations are still remaining active working online. Therefore, those staffs who are working for the organizations are still receiving payment as usual.

How can Cambodian People Make a Living During Coronavirus

How can Cambodian People Make a Living During Coronavirus?

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Angkor Times
Angkor TimesExperienced
Asked: June 20, 2024In: Money

How Will the Cambodia-Singapore Joint Working Group Boost Trade?

Cambodia-Singapore Joint Working Group to Boost Trade and Investments: 7 Key Advantages Prime Minister Hun Manet of Cambodia and Prime Minister Lawrence Wong of Singapore have agreed to establish a joint working group aimed at enhancing trade and investment ...Read more

Cambodia-Singapore Joint Working Group to Boost Trade and Investments: 7 Key Advantages

Prime Minister Hun Manet of Cambodia and Prime Minister Lawrence Wong of Singapore have agreed to establish a joint working group aimed at enhancing trade and investment between their countries. This decision was made during a meeting on Tuesday evening, marking Prime Minister Hun Manet’s two-day official visit to Singapore.

Cambodia-Singapore Joint Working Group to Boost Trade and Investments
Cambodia-Singapore Joint Working Group to Boost Trade and Investments

The two leaders, accompanied by top officials, discussed various topics and reached several key agreements. One of the significant outcomes of their discussions was the agreement to increase the number of direct flights between Cambodia and Singapore, a move aimed at boosting tourism between the two nations.

7 Key Advantages of the Cambodia-Singapore Joint Working Group

1. Enhanced Bilateral Trade

The joint working group will create a structured platform for addressing trade barriers and exploring new opportunities. By fostering open communication and collaboration, both countries can streamline trade processes and increase the volume of goods and services exchanged.

2. Increased Investment Opportunities

The formation of the joint working group will open new avenues for investment. With a focused approach, Singaporean investors will have better access to opportunities in Cambodia’s burgeoning sectors, including agriculture, manufacturing, and technology.

3. Boost to Tourism

By operating more direct flights, Cambodia and Singapore aim to attract more tourists not just from each other’s countries but from around the world. This will not only increase tourism revenue but also foster cultural exchanges and mutual understanding.

4. Energy Security Cooperation

The leaders welcomed the outcomes of the Cambodia-Laos-Singapore Ministerial Meeting, which led to the establishment of a Ministerial Working Group to enhance energy security. This cooperation will ensure a stable energy supply, crucial for both countries’ economic growth.

5. Strengthening Diplomatic Relations

The joint working group will further solidify the long-standing diplomatic relationship between Cambodia and Singapore. As they approach the 60th anniversary of their diplomatic relations in 2025, this initiative reflects their commitment to a strong and cooperative future.

6. Sector-Specific Growth

The joint working group will focus on priority sectors such as agribusiness, electronics, logistics, and agricultural processing. This targeted approach will help both countries develop these sectors more efficiently, leading to economic diversification and resilience.

7. Mutual Economic Benefits

Both countries stand to gain significantly from this partnership. Singapore can benefit from Cambodia’s growing market and resources, while Cambodia can leverage Singapore’s advanced technology and expertise to accelerate its development.

Continued Cooperation and Future Prospects

During the meeting, both Prime Ministers expressed their confidence that the new direct flights would not only increase tourism but also facilitate business travel, further strengthening economic ties. They also highlighted the importance of ongoing energy security cooperation and welcomed the creation of the Ministerial Working Group to involve more stakeholders in this crucial area.

Prime Minister Hun Manet and Singapore Prime Minister Lawrence Wong
Prime Minister Hun Manet and Singapore Prime Minister Lawrence Wong

Prime Minister Lawrence Wong extended a warm welcome to Prime Minister Hun Manet, who was making his first official visit to Singapore as Cambodia’s Prime Minister. Wong praised the enduring relationship between the two nations and emphasized the significance of their upcoming 60th anniversary of diplomatic relations in 2025.

In his response, Prime Minister Hun Manet thanked Prime Minister Wong and the Singaporean government for their hospitality. He also invited Prime Minister Wong to visit Cambodia at a convenient time and wished him success in leading Singapore.

Collaborative Efforts to Increase Investments

In a parallel meeting, Chea Vuthy, Secretary General of the Cambodian Investment Board (CIB), and Kow Juan Tiang, Executive Director of Enterprise Singapore (ESG), discussed ways to boost investments in priority areas such as agribusiness. Vuthy emphasized the potential for collaboration in sectors like automobiles, electronics, logistics, and agricultural processing. Tiang highlighted the need for continued investment cooperation and encouraged Singaporean companies to explore opportunities in Cambodia’s agricultural processing and infrastructure sectors.

Expert Insights on Economic Ties

Ky Sereyvath, Senior Economist and Director General of the Institute of China Studies at the Royal Academy of Cambodia, shared his positive outlook on the joint working group. He remarked, “The joint working group will significantly enhance both countries’ trade and tourism, especially during these challenging economic times. Singapore, being a global trade hub and a renowned tourist destination, can greatly benefit from this collaboration.”

Rising Trade Statistics

The latest report from the General Department of Customs and Excise (GDCE) highlights the growing trade relationship between Cambodia and Singapore. Trade between the two countries reached $393 million in the first five months of this year, an 18 percent increase compared to the same period last year. Cambodian exports to Singapore surged by 134.6 percent, while imports from Singapore grew by 11.5 percent.

Conclusion

The establishment of the Cambodia-Singapore joint working group marks a significant step towards strengthening economic and diplomatic ties between the two nations. With numerous advantages ranging from enhanced trade and investment opportunities to improved energy security and tourism, this initiative is poised to bring mutual benefits and drive sustainable growth.

What do you think about the potential impact of the Cambodia-Singapore joint working group? Share your thoughts in the comments below!

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Angkor Times
Angkor TimesExperienced
Asked: May 1, 2021In: Money

What are the main challenges and opportunities of eCommerce in Cambodia?

April 30th 2021, Cambodia Academy of Digital Technology – CADT organized (90 participants) a Zoom meeting with CEOs of BookMeBus, VTenh, Muuve, Khmum eShop, Nham24, BlOC, and Supper App discussing about the startup, the main challenges, the collaborations, the opportunities ...Read more

April 30th 2021, Cambodia Academy of Digital Technology – CADT organized (90 participants) a Zoom meeting with CEOs of BookMeBus, VTenh, Muuve, Khmum eShop, Nham24, BlOC, and Supper App discussing about the startup, the main challenges, the collaborations, the opportunities of eCommerce and Delivery platforms in Cambodia.

1. The Supply Chain

Most of the CEOs stressed that it seems like eCommerce and Delivery startup businesses in Cambodia haven’t responded to the high demand of the growing population while quality and standard assurance of the eCommerce and Delivery services haven’t done well yet.

The payment gateway is also the complicated thing which is required the companies limit the services and products offering to mainly urban customers rather than the customers who are living in the countryside.

2. The Customers

Customers’ experience and education on using eCommerce and Delivery services are on the rise of improvement reinforcement which make them hard to access the greatest features and benefits of the platforms. The eCommerce and Delivery companies are required to collaboratively working together to educate and learn from the customers to offer the best experience of eCommerce and Delivery platforms they deserve.

3. Data protection

Customers not feel comfortable in giving their personal data, especially using their credit card to process online payment in buying products online. The government and relevant stockholders such as both local and international banks working together to create technology tools to protect consumers data which reinforce their trust on making online payments.

4. The Rivals

If the giant businesses in the field of eCommerce and Delivery enter Cambodia, the local startups are not ready to compete with them yet as they are not strong in term of financial and technical support. The million or billion dollar companies can take over the big market segment if they want to operate in Cambodia. However, the local startups express no worry about this as the international companies not really well understand about the local culture, the people, and the infrastructure in Cambodia, even if they have big fund to operate their business in Cambodia, it might not be successful as the market is small.

5. The Opportunities

The eCommerce and Delivery platforms will be growing substantively in the from now on as the growth of internet user and mobile access plus online payment gateways integrations well connected. In the future, giant tech and other businesses will enter Cambodia, they will look for strong local eCommerce and Delivery players to merge their mission and vision with, then the local startups will be able to expand their business and strengthen their capability to build tech and support the local market even better.

What are the main challenges and opportunities of eCommerce in Cambodia? Cambodia Time

What are the main challenges and opportunities of eCommerce in Cambodia? 

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SOVANN
SOVANNExperienced
Asked: November 22, 2020In: Money

Can Foreigners Own Business Cambodia?

Can Foreigners Own Business Cambodia? It is absolutely yes. Read more

Can Foreigners Own Business Cambodia? It is absolutely yes.

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Kheang Sreyphin
Kheang SreyphinExperienced
Asked: May 31, 2021In: Money

Top 10 business ideas in Cambodia

Economic in Cambodia has seen significant development within the last 10 years roughly. As a result, you’ll be able to leverage many business areas and opportunities within the country. If you’re trying to find a business plan in The Kingdom ...Read more

Economic in Cambodia has seen significant development within the last 10 years roughly. As a result, you’ll be able to leverage many business areas and opportunities within the country. If you’re trying to find a business plan in The Kingdom of Cambodia, there are many business opportunities in this country in difference sectors. Keep reading the article below to get more business ideas in Cambodia:

1. Consultant

If you’re knowledgeable and keen about a selected topic such as business, social media, marketing, human resources, leadership, communication, and so on, of course, starting an adviser business are often a profitable choice. You’ll be able to begin your consulting business on your own, then grow your business and rent different consultants over time.

2. App developer

If you’re knowledgeable and experienced enough in technology, you’ll need to contemplate a career in app development. Smartphones became an everyday necessary thing in human’s eyes, that has enhanced demand for mobile apps. Similarly, computer game software system has become widespread in recent years, thus there’s conjointly a requirement for app development.

3. Start a business as a freelance copywriter

If you are really good at writing and have an idea for marketing, you’ll be able to establish yourself as a contract employee. Whether or not you write blogs, website or press releases, lots of corporations can pay for your services. You’ll be able to increase your worth by delivery data to the table to assist your client craft a method to attack specific keywords that their target market is already exploitation in their on-line searches. Most freelance copywriters charge $40 to $50 per hour; however, those like an expert during a given vertical may charge more than that. Freelance copy writing could be a nice business to run, as long as you have got an online association, you’ll be able to work. It is a business that you just will operate from the comfort of your own area, or perhaps from the road if you travel.

4. Real estate agent

Navigating the housing market is overwhelming for human being. As a house agent, you’ll be able to assist your client to find the house of their dreams at a worth that matches their budget. You just have to be compelled to complete a couple of months of categories and make yourself to become qualified as a true house agent, and you can be able to make a lot of money.

5. Online selling

That type of business is really common in Cambodia. For those who keen on fashion, they tend to start an online business selling, which is the first step to make their business grow bigger and bigger. You might not know that, starting an online selling business can earn approximately $4000 to $5000 per month, which is a lots, and it might surpass the salary for some of those who work in the company

6. Online bookkeeping

Technology permits several accounting services to be performed on-line. If you’re a bookkeeper or an accountant who don’t want to work under pressure or under company, of course, you can run your own business. Because of modern technology, you start a business as an online bookkeeping services by taking other companies as your clients.

7. Garment industry

Investment within the garment industry is honestly a good business plan in Cambodia. Garment exports compose for around 60% of Cambodia’s overall exports, with the 2 primary export destinations for footwear and garment are in Europe such as The United states of America. Hence, there’s no denying that creating investment within the garment industry can remunerative business plan in Cambodia.

8. Food Truck

With indoor eating restricted in several locations without delay, aspiring restaurateurs may realize a lot of success with a food truck. Food trucks are available in all shapes and sizes, serving up a good vary of snacks and cuisines. Take your favorite form of food on the road and sell your cooking passions on to customers. Sure, you will be operating; however, you will be in an exceedingly area you are addicted to, with an opportunity to attach to people that have similar interests.

9. Graphic designer

Firms, some businesses and sole proprietors all want attention-getting promotional materials, however not all people have an eye fixed for what looks good. If you’ve an inventive streak and good at preparing content into a visually pleasing format, you’ll begin a graphic style business to supply flyers, digital ads, posters and different participating visual materials.

10. Translation services

Translation services is being rare in Cambodia, so If you can speak and write multiple languages, you should think about running your own translation services. Not to mention, this business is profitable, and this might be a long term business to run.

Top 10 business ideas in Cambodia

Top 10 business ideas in Cambodia

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