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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Angkor Times
Angkor TimesExperienced
Asked: January 17, 2025In:

Cambodia’s Economy Set to Flourish with a 6.3% Growth in 2025: Unveiling the Optimism Behind the Numbers In a promising projection, Cambodia’s economy is poised to expand by 6.3 percent in 2025, as highlighted in the recent Budget in Brief report ...Read more

Cambodia’s Economy Set to Flourish with a 6.3% Growth in 2025: Unveiling the Optimism Behind the Numbers

In a promising projection, Cambodia’s economy is poised to expand by 6.3 percent in 2025, as highlighted in the recent Budget in Brief report for the Fiscal Year 2025, issued by the Ministry of Economy and Finance (MEF). This projection isn’t merely a numerical forecast; it carries with it a wave of optimism and potential for transformative growth across the nation.

Cambodia’s economy projected to grow at 6.3% in 2025
Cambodia’s economy projected to grow at 6.3% in 2025

A Closer Look at the Numbers: A Beacon of Progress

The MEF report anticipates that this growth will elevate Cambodia’s GDP at current prices to approximately 209,163 billion riels, or about $51.39 billion. Such a surge is expected to bring the GDP per capita to $2,924, a substantial leap that hints at improving living standards and economic conditions.

Key Sectors Fueling the Growth Engine

The industrial, services, and agricultural sectors emerge as the powerhouses driving this economic acceleration:

  • Industry: Projected to grow by 8.6 percent in 2025, the industrial sector remains a cornerstone of economic expansion. A balanced growth between garment and non-garment sub-sectors will underpin this rise, while construction is expected to stabilize post-pandemic.
  • Services: With an anticipated growth of 5.6 percent, the services sector is on an upward trajectory, fueled by the hospitality and food industries. Although the real estate sub-sector may grow at a moderated pace, its steady progress contributes to overall economic vitality.
  • Agriculture: A modest growth of 1.1 percent is expected, driven by advancements in crop and livestock production. The gradual recovery of the fisheries sub-sector also adds a layer of stability to this sector.

Inflation and Reserves: Stability in Sight

An inflation rate of 2.5 percent is forecasted for 2025, reflecting stable domestic economic activity and a normalization of global commodity prices. Furthermore, Cambodia’s international reserves are predicted to hold steady at $24.42 billion, a safety net sufficient to cover 7.5 months of imports.

Economic Diplomacy: The Unsung Hero

Economist Duch Darin attributes much of Cambodia’s projected economic success to effective economic diplomacy. By diversifying export markets and fortifying trade relationships, these diplomatic efforts have not only expanded Cambodia’s global market reach but also secured vital funding for infrastructure projects.

“Economic diplomacy has been pivotal in accelerating GDP growth by enhancing exports and rejuvenating the services sector,” Darin stated. “These initiatives have also attracted more Foreign Direct Investment (FDI), fueling industrial expansion and diversifying the economy.”

Government’s Optimistic Outlook

Deputy Prime Minister and Minister of MEF, Aun Pornmoniroth, emphasizes the continued momentum in export-oriented sectors, particularly garments, as a key growth driver. He also notes the expected resilience of non-garment industries, including automotive assembly and food production, which are set to bolster economic diversity.

World Bank’s Perspective

While the World Bank forecasts a slightly lower GDP growth of 5.5 percent for 2025 and 2026, it underscores the importance of diversifying trade and enhancing productivity. Tania Meyer, World Bank Country Manager for Cambodia, highlights the need for investment in human capital and business reforms to sustain this growth trajectory.

A Promising Horizon

The projected 6.3 percent growth rate for Cambodia in 2025 is more than a statistic—it is a testament to the country’s resilience and strategic planning. As the nation moves forward, leveraging its industrial, services, and agricultural strengths, the focus on economic diplomacy, infrastructure, and human capital development will be pivotal. The collective efforts promise not only economic growth but also a robust foundation for sustainable development, benefiting all Cambodians.

As Cambodia stands on the cusp of this promising economic horizon, it beckons a future rich with opportunities, resilience, and prosperity.

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Vanvutha Leang
Vanvutha LeangExperienced
Asked: March 21, 2021In:

Having said that one of the most popular and profitable small business opportunities in most of Cambodia is the Food and Beverage industry. This industry is a need for not only Cambodian but also foreigners who visit the Kingdom. There ...Read more

Having said that one of the most popular and profitable small business opportunities in most of Cambodia is the Food and Beverage industry. This industry is a need for not only Cambodian but also foreigners who visit the Kingdom. There will have a lot of customers in any area of the country. As we know, food is an everyday requirement for people. However, before you start, you have to be clear with a good location and available market, so it will give you a highly profitable. This article will show and list the potential business that available in Cambodia for you to a fresh start as you wish.

Related: What are the best businesses to start in Cambodia?

Restaurants

Restaurant Business in Cambodia

Restaurant Business in Cambodia

As you can see, there are plenty of restaurants located in Phnom Penh and Siem Reap which attract many customers, even locals and foreigners to relax in the place. It should be noted that opening this sort of business required paying attention to every small thing that matter. Simply like the taste of food, environment and most importantly be on time. Additionally, it will be even useful in case you have unique ideas to design your place and food to be better or different from another place.

Related: What are the Business Opportunities in Cambodia?

Above all, as a restaurant owner, you need to be royal, honest, and thinking about quality rather than profit. Having new loyal customers is the best thing for us because they may recommend our place to other people to come and so on so forth.

Coffee Shop

Coffee Shop Business in Cambodia

Coffee Shop Business in Cambodia

Driving around Phnom Penh city, between two blocks, you will see at least 2 to 3 coffee shops. This kind of business is quite popular for most Cambodia business start-up because its requirements not so much money to invest and somehow gain more profit. As people, right now, love to drink coffee, and for most people, coffee is like their morning routine.

By opening a coffee shop, you need not find big land, what you need just only small land that enough for parking and put the rest of your shop’s stuff. More things, you need to buy a coffee machine or in case you would like to less money on that, it possible for you to buy a second-hand product to use contemporary. This business is almost available for everyone to start, even you had less money.

These businesses indicate above are for people who would like to fresh-start their own business, since it spends not so much money, but experiences. I suggest you work in either of these fields in order to understand more about the process before you start. Experiences are crucial than money because you can spend a little money to start a business, but you might not be successful to spend more money to start with a naïve experience.

Related: Why Business Blueprint is Important for Startup Business?

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Angkor Times
Angkor TimesExperienced
Asked: October 31, 2023In:

The Changing Landscape of Gambling in Cambodia: Advantages and Disadvantages. key disadvantages associated with the changing landscape of gambling in Cambodia The gambling industry in Cambodia has been undergoing significant changes with the introduction of a new regulatory framework in recent ...Read more

The Changing Landscape of Gambling in Cambodia: Advantages and Disadvantages. key disadvantages associated with the changing landscape of gambling in Cambodia

The gambling industry in Cambodia has been undergoing significant changes with the introduction of a new regulatory framework in recent years. The Cambodian government, through the Cambodia Commercial Gambling Management Commission (CGMC), has embarked on a journey to transform the country’s gambling sector. In this article, we will explore the advantages and disadvantages of gambling in Cambodia in light of the new regulations and the evolving landscape of this industry.

Advantages of Gambling in Cambodia

1. Tax Revenue for the Government

One of the most significant advantages of the gambling industry in Cambodia is the substantial tax revenue it generates for the government. The taxation of casinos and other gambling establishments contributes significantly to the country’s revenue, which can be allocated to various public services and infrastructure development. The new regulations aim to streamline and enhance the collection of taxes, further boosting the government’s income.

2. Job Creation

The gambling industry in Cambodia has been a vital source of employment for many Cambodians. The proliferation of casinos and related businesses has led to the creation of a considerable number of jobs, both directly and indirectly. These jobs range from dealers and waitstaff to administrative positions, providing livelihoods to a significant portion of the population.

3. Tourism and Economic Growth

The gambling sector has played a role in attracting tourists to Cambodia. Many tourists are drawn to the country by the allure of casinos and integrated resorts. This influx of tourists not only benefits the gambling industry but also boosts the broader tourism sector, leading to economic growth and development in various regions.

4. Foreign Investment

The presence of a thriving gambling industry has attracted foreign investors and operators. These investments have led to the construction of world-class integrated resorts, which have become key attractions for both domestic and international visitors. This foreign investment not only stimulates economic growth but also enhances Cambodia’s global reputation as a tourist destination.

5. Entertainment and Recreation

The gambling industry offers entertainment and recreation options for both locals and tourists. People can enjoy a wide range of games and activities within these establishments, providing a form of entertainment that can be a welcome diversion from daily life. These venues also offer restaurants, bars, and live entertainment, contributing to the overall leisure and entertainment landscape.

Disadvantages of Gambling in Cambodia

1. Social Issues and Problem Gambling

While the gambling industry has its benefits, it also brings with it a set of significant disadvantages. One of the most pressing concerns is the potential for social issues and problem gambling. Some individuals may develop gambling addiction, leading to personal and financial hardships. The government must address this issue through responsible gambling measures and support for those affected.

2. Crime and Money Laundering

The presence of a large number of casinos and gambling establishments can inadvertently create opportunities for criminal activities, such as money laundering and organized crime. To mitigate these risks, the new regulations are expected to introduce more robust measures to combat money laundering and illicit financial activities.

3. Economic Disparities

While the gambling industry creates jobs and generates revenue, it can also exacerbate economic disparities. The wealth generated by the industry may not always be evenly distributed among the population, leading to income inequalities. It is crucial for the government to ensure that the benefits of gambling are shared more equitably.

4. Negative Social Perceptions

The gambling industry can create negative social perceptions, as it may be associated with vices and social problems. Critics argue that gambling can lead to a decline in social values and ethics, potentially affecting the well-being of the community. The government must address these concerns and promote responsible gambling practices.

5. Regulatory Challenges

Implementing and enforcing new regulations in the gambling industry can be a complex and time-consuming process. The transition from a lightly regulated industry to a more controlled and regulated one requires significant efforts in terms of training and capacity building. The CGMC’s commitment to aligning its standards with international norms is commendable, but it will take time to reach full implementation.

Conclusion

The gambling landscape in Cambodia is undergoing a transformation with the introduction of new regulations aimed at bringing the industry in line with international standards. While there are clear advantages, such as tax revenue for the government, job creation, tourism, and foreign investment, there are also significant disadvantages, including social issues, crime, economic disparities, negative social perceptions, and regulatory challenges.

It is imperative for the Cambodian government to strike a balance between reaping the benefits of the gambling industry and addressing the associated challenges. Responsible gambling practices, enhanced regulatory measures, and a focus on equitable economic distribution will be essential in ensuring that Cambodia’s gambling sector contributes positively to the nation’s overall development and well-being. As the new regulations continue to be implemented over the coming years, it will be interesting to observe the long-term impact on the country’s gambling industry and its society as a whole.

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Vanvutha Leang
Vanvutha LeangExperienced
Asked: February 13, 2021In:

The closure of business in Cambodia requires more effort than opening one, however, business owners must operate completely to avoid further implications. You couldn’t just shut down a company unofficially because further risks remain high to destroy you. Without the ...Read more

The closure of business in Cambodia requires more effort than opening one, however, business owners must operate completely to avoid further implications. You couldn’t just shut down a company unofficially because further risks remain high to destroy you. Without the closure of a business properly, you still must confront a legal entity that you must completely clear before leaving.

The Council for Development of Cambodia had warmed business owners to legally and formally close the business no matter what. However, business owners cannot escape from a legal entity, even a ghost company, since the Ministry of Commerce always make annually declaration to ensure all business owners are cleared their duties.

Therefore, “there’s a will there’s a way”.

The following steps will guide you to closure a business in a proper way according to Chapter L of the Law on Commercial Enterprises:

Step 1: Proposing a director or shareholders to readily dissolve or liquidate the company.

Step 2: When the proposal of the intent to dissolve is passed by a two-thirds majority vote, the company require to address a Certificate of Intent to Dissolve by sending it to the Director of the Company. From that time on, the company must completely cease all procedures of the company.

Step 3: The company must send notice of intent to dissolve to creditors, immediately and publish a statement for two weeks in a newspaper.

Step 4: It then must collect its property, distribution to shareholders, and anything important to liquidate the business. In addition, the MoC will issue the certificate of dissolution, which meant that the process and obligations are still ongoing, including the official audit performed by the Department of Taxation, somehow costly.

The procedure for the dissolution of business in Cambodia requires much time and money, but you must complete all requirements, in case you would like to avoid the worst implications for yourself and your future business.

How do I dissolve a business in Cambodia

How do I dissolve a business in Cambodia

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Vanvutha Leang
Vanvutha LeangExperienced
Asked: May 30, 2021In:

The stock market isn’t like a supermarket where you can stroll in and make purchases right away. Investors must be aware of specific rules and methods to get the most out of their initial trading experience and achieve their investing ...Read more

The stock market isn’t like a supermarket where you can stroll in and make purchases right away. Investors must be aware of specific rules and methods to get the most out of their initial trading experience and achieve their investing goals. Understanding this can assist you in reducing risk and ensuring that each decision you make is in line with your investment.

1. Opening Account

When it comes to starting your stock trading career, the first step is to open a trading account. There are ten securities firms licensed to provide stock brokerage services in Cambodia. To discover which broker is ideal for you, contact each securities business for more information about their services and commission rates.

Your broker will walk you through the steps necessary to start an account, such as filling out the relevant forms and requesting the relevant papers. Whether you have a general or technical question or are looking for financial guidance, your broker will be your first point of contact.

2. Placement of orders

After successfully opening a trading account with your preferred broker, you may ask them to issue a buy/sell order for you using any of the following methods:

  • Mobile Trading System MTS from your mobile phone;
  • Telephone;
  • Email;
  • Written document;
  • Other communication suggested by your broker.

3. Understanding trading rules

When trading stocks on the Cambodia Securities Exchange (CSX)., there are several rules to follow. The following are the primary areas that investors should be aware of:

  • Trading hour: The trading hour is the period when investors can place their buy/sell order on the market. The current trading hour at CSX is from 8 AM to 3 PM Monday to Friday, except public holidays.
  • Trading currency: At the CSX, securities are traded in Cambodian riel.
  • Good faith deposits: A minimum deposit is not required in a trading account, unless when placing orders; however, investors must have 100 percent of the cash/securities to place an order. For example, if you would like to place a buy order of 40,000 riel worth of shares, you need to have at least 40,000 riel in your cash balance plus the commission fee.

4. Trading Procedure

Your order will be transmitted to the CSX system after it has been placed through your MTS or broker. The system then matches your order with the counter party based on the order type, price, amount, and other trading rules factors. You will be notified of the trade result after the successfully executed orders.

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