Dollarized economy constrains the government from funding development of infrastructure and society. Two images on the back of the 500 riel banknote depict bridges, with the one on the left showing the Kingdom’s longest and most modern bridge, the Tsubasa (“Bird’s Wing”) Bridge linking Kandal and Prey Veng provinces. The bridge was built with $127 […]
Read MoreThe dominance of the US dollar in the banking system prevents the central bank from lowering interest rates to spur investment and create jobs. Cambodia is handicapped by the dollarization of its economy in three ways, according to Kith Sovannarith, Deputy Director General of Banking Supervision at the National Bank of Cambodia. First, the NBC […]
Read MoreIndustrial insiders and experts on the kindgom’s nascent stock market have suggested the government set up a fund as an investment vehicle designed to broaden the local public investor base, based on The Thai Fund (TTF). Incorporated in 1987, TTF is a non-diversified, closed-end management investment company. The fund’s investment objective is long-term capital appreciation […]
Read MoreGreater use of the national currency is key to accelerating trade and increase tourism. Over the last few years the Director of the Statistics Department at the National Bank of Cambodia began observing an unanticipated development while conducting field observation studies of trade at border crossings – the riel is being accepted for purchases in […]
Read MoreCambodia Investment Tax Service has become the 44th tax agent to get a license from the General Department of Taxation (GDT) since the government made an effort to modernize and make more efficient tax collection by using private companies. Anthony Galliano, company group CEO, said licensing and regulating the industry is a progressive and much-needed […]
Read MoreMobile World Group (MWG) will launch its first store called BigPhone.com in Cambodia in the first quarter of this year, according to Viet Nam News. The store is under construction, general director of MWG Tran Kinh Doanch was quoted as telling the English daily. “Once operation, the store will employ mostly local people,” he said. […]
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Thailand
