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China poaches airport contract

Op-Ed: Phnom Penh Post

China poaches airport contract

Wed, 28 December 2016

The government has commissioned a Chinese consortium to build a new international airport for Siem Reap and formed a committee to determine how to compensate the French company that operates the city’s existing airport for prematurely ending its concession licence, according to documents obtained yesterday.

Under the deal, Chinese state-run Yunnan Investment Holdings Ltd (YIHL) will build a new $880 million airport about 50 kilometres outside Siem Reap’s provincial capital in Sonikum district.

The agreement, signed by Cambodian Deputy Prime Minister Sok An and YIHL chairman Sun Yun during Chinese President Xi Jinping’s visit to the Kingdom in October, grants a joint investment consortium formed by YIHL, the Yunnan Construction Investment Group and the Yunnan Airport Group an exclusive 55-year build, operate, transfer (BOT) concession on the new airport.

Construction of the greenfield airport on 700 hectares of land provided by the government is expected to take three years, according to Chinese media sources. The plan is to build a 4E class airport, with the possibility of expanding to 4F compliance, which means the airport could receive larger long-haul aircraft.

Once operational, YIHL’s Siem Reap Angkor International Airport would replace the existing airport at Siem Reap operated by Cambodia Airports, a company majority owned by France’s Vinci Group.

Cambodia Airports currently holds a concession to operate the international airports serving Phnom Penh, Siem Reap and Sihanoukville until 2040. The company recently sunk $100 million into expanding the terminals at the Phnom Penh and Siem Reap airports, which is expected to increase each airport’s capacity to handle up to 5 million passengers annually.

According to a government decree signed by Prime Minister Hun Sen on November 1 and obtained by The Post yesterday, the premier has appointed an eight-person committee to negotiate a sooner end-date for Cambodia Airport’s franchise on Siem Reap’s airport and to discuss suitable compensation for the company.

“The committee must negotiate with Cambodia Airports in order to terminate the contract before the concession agreement ends and cease operations and development of the current Siem Reap airport,” it read.

“The committee will arrange the negotiations with Cambodia Airports in order to handle the compensation for the termination of the contract according to Article 7 of the concession agreement.”

Yim Nola, the senior minister of the Cambodian government who heads the newly formed committee, claimed both the government and Cambodia Airports had agreed to include Article 7 in the initial concession agreement when it was signed. He said the article gives the government the right to relocate the airport provided Cambodia Airports receives compensation.

He said Cambodia Airports had already been informed of the decision to amend the contract, though a date for the negotiations had not yet been set.

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Will Cambodia Become the Gateway to ASEAN’s 600 Million Consumers?

Will Cambodia Become the Gateway to ASEAN’s 600 Million Consumers?

May 29, 2015 Asia-Pacific Cambodia
Op-Ed: Knowledge@Whorton

Courtesy: Knowledge@Whorton

Selling Cambodia, a country known for its killing fields, landmines and chronic poverty, is a tough job. But Chanthol Sun, minister for commerce, says it’s very easy when “you talk from the heart.” The 59-year-old, U.S.-educated, former General Electric executive points out that Cambodia has a lot to offer to international investors: political and macroeconomic stability, a pro-business government, competitive investment incentives and a great location. Referring to the people of Cambodia as his “shareholders,” Sun says, “They have suffered long enough. It’s time for Cambodia to grow … it’s time to for us to move forward.”

Born in 1956, in Koh Thom district in the Kandal province, Sun lost his mother and brother to the Khmer Rouge. The rest of his family escaped to Thailand. In 1973, Sun went to the U.S. with $50 in his pocket. He returned to Cambodia in 1994 and helped set up the Council for the Development of Cambodia. Elected to the Cambodian National Assembly in 2003, he was the minister for public works and transport from 2004 till 2008. In September 2013, he took on his current responsibilities as minister of commerce.

In a conversation with Knowledge@Wharton, Sun talks about his faith in the future of Cambodia and what motivates him as an individual.
As edited transcript of the conversation follows.

Knowledge@Wharton: Of all the ASEAN countries, why would an investor chose Cambodia instead of, say, Thailand, Indonesia or Vietnam?

Chanthol Sun: I can give the investor a few good reasons. At the top of the list is political stability. It’s important for investors to invest in a country that is politically stable. We had a little hiccup in the elections of 2013 — the opposition boycotted the national assembly for 10 months — but that’s all sorted now. Today, politically, Cambodia is very stable.

Two, macroeconomic stability. Cambodia’s GDP has been growing at an average of 7.7% for the last 20 years. The World Bank calls us one of the ‘Olympians of growth’; [we are] the sixth fastest growing economy in the world for the last 20 years. The inflation rate is less than 5%. The exchange rate has been stable for the last 20 years. Our debt-to-GDP ratio is below 30% and our budget deficit is very small. We expect to grow at an average of 7% to 7.5% for the next five to six years.

“Foreign investors and local investors are treated equally in Cambodia.”

Third, Cambodia’s government is a pro-business government. We consider the private sector as the engine of our economic growth. We have created what we call the “technical working groups,” co-chaired by the private sector and ministers in the Cambodian government. Technical working groups on infrastructure, banking, tourism, culture, so on and so forth. These technical groups work together on a regular basis to resolve any problems that the private sector might have. If they cannot resolve these problems, they can escalate them to what we call the “government private sector forum,” chaired by our prime minster. Once a year, he invites the private sector — 300 representatives, plus the diplomatic corps, the ADB [Asian Development Bank], World Bank, IMF [International Monetary Fund] — to this forum, and they can raise any problem with the prime minister. He can make a decision right there.

IMG_0220-Four, the competitive investment incentives. Our investment laws provide very generous incentives to investors. Our corporate income tax is only 20%. There is no exchange control in Cambodia. There’s no restriction on any sector because there is no alien business law. Every economic sector is open to a foreign investor. Tell me, which country allows foreigners to own 100% banking license, 100% ownership of the telecom sector, of agriculture — every sector? Foreign investors and local investors are treated equally in Cambodia Twitter .

Last, location, location, location. Cambodia sits at the heart of ASEAN. If you get on a plane, within one-and-a-half hours’ flying time you reach 600 million consumers. When I pitch to the investors, I say, don’t come to invest only in Cambodia with its 15 million consumers. Look at ASEAN as a whole, or at least the GMS [Greater Mekong Subregion], which consists of Cambodia, Vietnam, Laos, Myanmar, and Yunnan Province [China] — that’s 220 million consumers. Or, just look at three countries, Cambodia, Vietnam and Thailand — [Cambodia is] right in the middle. So in shipping, in transportation, we could be part of the regional supply chain. We have a dynamic population — the median age of Cambodians is 24.1 — so 35 years of productive labor.

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ពាណិជ្ជករ​បរទេស​ទាម​ទារ​ឲ្យ​រដ្ឋ​ធ្វើ​​កំណែ​ទម្រង់​ពន្ធ

Content image - Phnom Penh Post

ពាណិជ្ជករ​បរទេស​ទាម​ទារ​ឲ្យ​រដ្ឋ​ធ្វើ​​កំណែ​ទម្រង់​ពន្ធ

Wed, 8 April 2015

ជាមួយ​កំណើន GDP រឹង​មាំ​ចំនួន ​៧%​ ក្នុង​ឆ្នាំ ​២០១៤​ ​ហើយ​ដែល​រំពឹង​ថា​នឹង​ឡើង​​ ៧,៣​ ភាគរយ ​ក្នុង​ឆ្នាំ ​២០១៥​​ និង​ ៧,៥ ភាគរយ ​ក្នុង​ឆ្នាំ ២០១៦​ កេរ្តិ៍​ឈ្មោះ​របស់​កម្ពុជា​ ជា​ទីផ្សារ​មិន​តឹង​រ៉ឹង​​និង​​ងាយ​ស្រួល​ចូល​​ធ្វើ​​អាជីវកម្ម​​​សម្រាប់​វិនិយោគិន​បរទេស​ និង​ហានិភ័យ​របស់​ប្រទេស​នេះ​ត្រូវ​បាន​ចាត់​ទុក​ថា​មធ្យម​ដោយ សារ​​ស្ថិរ​ភាព​នយោបាយ​បច្ចុប្បន្ន​។ ​កម្ពុជា​កំពុង​ទទួល​បាន​ការ​សម្លឹង​មើល​​កាន់​តែ​កើន​ឡើង​​ពី​វិនិយោគិន​បរទេស​។

ទោះ​យ៉ាង​ណា​ក្តី នៅ​ពេល​សម្លឹង​មើល​ខ្លាំង​ជាង​នេះ​ វិនិយោគិន​បរទេស​អាច​ស្វែង​រក​ប្រទេស​មួយ​ដែល​ទើប តែ​​កែ​តម្រូវ​ផ្នែក​មួយ​ចំនួន​មិន​ឲ្យ​តឹង​រ៉ឹង ជា​ពិសេស​ ផ្នែក​ពន្ធដារ។ ​​បញ្ហា​ពន្ធដារ​​កំពុង​ធ្វើ​ឲ្យ​កម្ពុជា​លែង​សូវ​មាន​ប្រជា​ប្រិយ​ភាព​សម្រាប់​​វិនិយោគិន​បរទេស។

គ្មាន​អ្វី​អាថ៌កំបាំង​ទេ ប្រជាជន​កម្ពុជា​មិន​មែនជា​អ្នក​បង់​ពន្ធ​ទាំងអស់​ទេ ហើយ​ជា​លទ្ធផល​រដ្ឋាភិបាល​ក៏​បាន​យល់​ឃើញ​ថា វា​ជា​បញ្ហា​ប្រឈម​ក្នុង​ការ​ប្រមូល​ចំណូល​ពន្ធ។ ការ​ប្រព្រឹត្ត​មិន​ស្មើ​ភាពលើ​អ្នក​ជាប់​ពន្ធ ដែល​បាន​កំណត់​សមត្ថភាព​​របស់​ រដ្ឋាភិបាល​ក្នុង​ការ​បង្កើន​ការ​ប្រមូល​ពន្ធ។

ក្នុង​ការ​បង់ពន្ធ​ប្រចាំ​ខែ​របស់​ខ្លួន ​អ្នក​ជាប់​ពន្ធ​របប​ម៉ៅ​ការ​​បង់​ពន្ធ​ទៅ​មន្រ្តី​ពន្ធ​​ដែល​មក​ជា​រៀង​រាល់​ខែ​ដើម្បី​វាយ​តម្លៃ​​ពន្ធម៉ៅ​ការ​ ដែល​ជា​ទូទៅ​មាន​ទំហំ ២ ភាគរយ នៃ​ចំណូល​ប៉ាន់​ប្រមាណ។

ជា​ធម្មតានេះ​គឺជា​ចំនួន​តិច​តួច​បើ​ប្រៀប​ធៀប​នឹង​អ្វី​ដែល​អ្នក​ជាប់​ពន្ធ​របប​ពិត​ត្រូវ​បង់។ ​អាជីវកម្ម​មួយ​ដែល​ចុះ​បញ្ជី​ជា​អ្នក​ជាប់​ពន្ធ​របប​ពិត គឺ ប្រឈម​នឹង​ពន្ធ​មូល​ដ្ឋាន​ដូច​ជា ពន្ធ​កាត់​ទុក​ ១០ ភាគរយ លើ​ការ​ជួល ​ពន្ធ ប្រាក់​ខែពី ០​ ដល់​ ២០ ភាគរយ អាករ​លើ​តម្លៃ​បន្ថែម​ ១០ ភាគរយ ​លើ​ការ​លក់ ពន្ធលើ​ប្រាក់​ចំណេញ​ ១ ​ភាគរយ និង​​ពន្ធកាត់​ទុក ១៥ ភាគរយ ​លើ​សេវាកម្ម ដែល​ទទួល​បាន​ពី​អាជីវកម្ម​មិន​ចុះ​បញ្ជី។ នៅ​ចុង​ឆ្នាំ ប្រសិន​បើ​អ្នក​ជាប់​ពន្ធ​របប​ពិត​ទទួល​បាន​ប្រាក់​ចំណេញ ពួកគេ​នឹង​ប្រឈម​ពន្ធ​លើ​ប្រាក់​ចំណេញ​ចំនួន ២០ ភាគរយ។

ម្យ៉ាង​វិញ​ទៀត អាជីវកម្ម​ដូចជា ហាង​លក់​រាយ ​ភោជនីយ​ដ្ឋាន​ ឬ​សណ្ឋា​គារ​ អាច​ធ្វើ​អាជីវកម្ម​ដូចគ្នា អ្នក​ជាប់​ពន្ធ​របប​ម៉ៅការ​ប្រហែល​បង់ ៥០ ដុល្លារ​ក្នុង​មួយ​ខែ ខណៈ​អ្នក​ជាប់​ពន្ធ​របប​ពិត​​ប្រហែល​ជា​បង់​រាប់​ពាន់​ដុល្លារ ឯណោះ។

ជាទូទៅ​ជន​បរទេស​ចុះ​បញ្ជី​អាជីវកម្ម​របស់​ខ្លួន​ជា​អ្នក​ជាប់​ពន្ធ​របប​ពិត ហើយ​អាច​ខាត​ប្រយោជន៍​ខ្លាំង​បើ​ធៀប​នឹង​គូ​ប្រកួត​ប្រជែង​ដែល​ជា​អ្នក​ជាប់​ពន្ធ​របប​ម៉ៅ​ការ។

ការប្តូរអ្នក​ជាប់​ពន្ធ​របប​ម៉ៅការ​ទៅ ជា​អ្នក​ជាប់​ពន្ធ​របប​ពិត​ក្នុង​សង្វៀន​ប្រកួត​ប្រជែង​ស្មើ​ភាព វា​ជា​ការ​ល្អ​ ​និង​ជា​ឱកាស​ដ៏​ធំ​មួយ​ក្នុង​ការ​បង្កើន​​ចំណូល​ពន្ធ​សម្រាប់​រដ្ឋាភិបាល។

ខណៈ​អ្នក​ជាប់ពន្ធ​របប​ពិត​​ត្រូវ​តម្រូវ​ឲ្យ​បង់​អាករ​លើ​តម្លៃ​បន្ថែម​ ១០ ភាគរយ ចំពោះ​ការ​ផ្គត់​ផ្គង់​ទំនិញ​និង​សេវា​ទៅ​អតិថិជន អាជីវកម្ម​ក្រោម​របប​ម៉ៅ​ការ ឬ​អាជីវកម្ម​មិន​ចុះ​បញ្ជី​គឺ មិន​បង់​ទាល់​តែ​សោះ។

ភាព​មិន​ស្មើ​ភាព​គ្នា​នេះ​គឺ​រឹត​តែ​មាន​ខ្លាំង​ទៀត​ខណៈ​អ្នក​ជាប់​ពន្ធ​របប​ពិត​ត្រូវ​តម្រូវ​ឲ្យ​បង់ពន្ធ​កាត់​ទុក ១៥ ភាគរយ សម្រាប់​សេវា​ដែល​ផ្តល់​ទៅ​ឲ្យ​ខ្លួន​ដោយ​ក្រុម​ហ៊ុន​មួយ។ អ្នក​ជាប់​ពន្ធ​របប​ពិត​គឺ​ទទួល​រង​ការ​ដាក់​ទោស ទណ្ឌ​បន្ថែម​ទៀត​សម្រាប់​សកម្ម​ភាព​អាជីវកម្ម​ណា​ដែល​មិន​ព្រម​នៅ​ក្នុង​ប្រព័ន្ធ​ពន្ធ។

ប្រកាស​ថ្មី​លេខ ១១៣៩ ទាក់​ទង​នឹង​ការបន្ត​ពន្ធ​ប៉ាតង់ ដែល​តម្រូវ​ឱ្យ​អ្នក​បង់ពន្ធ​ចុះ​បញ្ជី​នៅ​អគ្គនាយក ដ្ឋាន​ពន្ធដារ (GDT) នៅមុន​ខែ វិច្ឆិកា ឆ្នាំ​ ២០១៤ ដើម្បី​បំពេញ​សំណុំ​បែប បទ​ចុះ​ឈ្មោះ​ពន្ធ​ថ្មី​ដែល​មាន​រយៈពេល​វែង តម្រូវ​ឲ្យ​ប្រធាន​ក្រុមហ៊ុន​មាន​វត្តមាន​ថតរូប និង​ផ្តិត​ម្រាម​ដៃ បង្ហាញ​ភស្តុតាង​ថា ម្ចាស់​ដី​នៃ​ទីតាំង​អាជីវកម្ម​បាន​បង់ពន្ធ​អចលនទ្រព្យ ហើយ​ឲ្យ​ប្រធាន​បង្ហាញ​កិច្ច​សន្យា ជួល​លំនៅឋាន និង​លិខិត​បញ្ជាក់​ស្នាក់​នៅ​ថា ខ្លួន​រស់​នៅ​ក្នុង​ប្រទេស​កម្ពុជា​ធ្វើ​ឲ្យ​មាន​ការ​ខឹង​និង​ការ​ភាន់​ច្រឡំ។

ការ​វិនិយោគ​បរទេស​ក៏​អាច​មាន​ការ ភ្ញាក់​ផ្អើល​ផងដែរ ដែល​​ចំណាយ​កម្សាន្ត​មិន​អាច​កាត់​កង​បាន និង​មិន មាន​ឥណទាន​អាករ​តម្លៃ​បន្ថែម​លើ​ការ​ទិញ​ប្រេង សាំង/ម៉ាស៊ូត និង​សេវា​ទូរស័ព្ទ​ចល័ត។ អ្វី​គួរ​ឱ្យ​ភ្ញាក់ផ្អើល ដែល​អគ្គនាយក​ដ្ឋាន​ពន្ធដារ បាន​ប្រកាស​ពន្ធ និង​អត្រា​អប្បបរមា​លើ​ប្រាក់​កម្ចី​ម្ចាស់​ភាគហ៊ុន​នៅក្នុង​ឆ្នាំ ២០១៥ ដែល​មាន​ប្រតិសកម្ម​ទៅ​ឆ្នាំ ២០១៤ ដោយ​បន្ត​ផ្លាស់​ប្តូរ​ជំហរ​ពន្ធ​លើ​ប្រាក់​កម្ចី​ម្ចាស់​ភាគ​ហ៊ុន។ ការ​ត្រូវ​ដាក់​ប្រកាស​ពន្ធ​ប្រចាំ​ខែ ត្រូវ​បាន​គេ​មើល​ឃើញ​ផងដែរ​ថា ជា​បន្ទុក​រដ្ឋបាល ដែល​កើន​ឡើង​ធៀប​នឹង​ទីផ្សារ​ផ្សេង​ទៀត​ភាគ​ច្រើន។​

ច្បាស់​ណាស់ មាន​ការ​រីក​ចម្រើន​លើ​ការប្រមូល​ពន្ធ និង​ការ​អនុវត្ត​ច្បាប់ ហើយ​គួរ​ត្រូវ​បាន​សាទរ​។ ជាជាង ផ្តោត​ខ្លាំង​​លើ​ការ​បង្កើន​ប្រាក់​ចំណូល​ពន្ធ​ពី​​អ្នក​ក្នុង​ប្រព័ន្ធ​ពន្ធ​រួច​ហើយ​ វា​គឺ ជា​ពេល​វេលា​នាំយក​អ្នក​ដែល​​នៅ ក្រៅ​ប្រព័ន្ធ ដែល​មាន​ប្រៀប​ក្នុង​ការ​ប្រកួត​ប្រជែង​ក្នុង​ប្រព័ន្ធ​ពន្ធ​។ ការ កាត់​បន្ថយ​បន្ទុក​​រដ្ឋបាល និង​ក្នុង​ការិយាធិប​តេយ្យ នឹងត្រូវ​បាន​ទទួល​ស្វាគមន៍​យ៉ាង​ខ្លាំង​។ នោះ​ផ្ដល់ឱ្យ​វិនិយោគិន​បរទេស​នូវ​ទំនុក​ចិត្ត​កាន់​តែ​ច្រើន និង​ប្រទេស​កម្ពុជា​នឹង​ក្លាយ​ជា​ទីផ្សារ​នាំ​មុខ​មួយ​៕

Source: Post Khmer

HE Sun Chanthol is Optimistic on Investment in Cambodia

សង្ឃឹមយ៉ាងមុតមាំថា ឯកឧត្តមស៑ុន ចាន់ថុលអាចយកជំនះ បានលេីជំងឺសង្គមនៃអំពេីពុករលួយក្នុងការបណ្តាក់ទុនរកសុីនៅកម្ពុជាបាន។ បានបញ្ហាធំៗជាច្រេីនដូចជា
១ ការចុះឈ្មោះបង្កេីតក្រុមហ៑ុនត្រូវចំណាយលុយខ្ពស់
២ ការបង់លុយក្រោមតុខ្ពស់ជាងបង់ពន្ធចូលរដ្ឋ
៣ មន្រ្តីនិងអាជ្ញាធរមូលដ្ឋានមកទារលុយក្រៅប្រព័ន្ធយ៉ាងរញេរញ៉ៃ
៤ មេរបស់ឯកឧត្តមគឺកំពូលពុករលួយគ្មានអ្វីអាចផ្លាស់ប្តូរបាន
៥ ហានិយភ័យខ្ពស់សំរាប់អ្នកវិនិយោគទុនស្មោះត្រង់

Hope that HE Sun Chanthol can overcome those mainstream ills of social graft. Many investors and SMEs are complaining about running businesses in Cambodia as following:
1. Business registration demands high amount of fee, procrastination of time, and facing with many challenges
2. Paying under-table taxes and fees are higher than paying legal state’s tax
3. Local authority and officers demand bribes from business owners without fearing any legal reprimanding
4. His higher superiors and big boss are so corrupted that no way of changing that status quo.
5. High risk for honest investments in the Kingdom of Cambodia

 

Calgary Real Estate Board predicts housing sales to drop in 2015

Reported by CBC

Calgary Real Estate Board predicts housing sales to drop in 2015

But prices expected to remain stable, or even increase slightly, in Calgary this year

By Kyle Bakx, CBC News Posted: Jan 14, 2015 9:50 AM MT Last Updated: Jan 14, 2015 3:59 PM MT

Calgary's real estate market will slow in 2015, but CREB doesn't believe that means a drop in prices.

Calgary’s real estate market will slow in 2015, but CREB doesn’t believe that means a drop in prices. (CBC)

The stark drop in oil prices is expected to weaken the Calgary real estate market.

The Calgary Real Estate Board (CREB) released its annual forecast for the upcoming year today. It is projecting sales to drop by four per cent in 2015; however, housing prices are expected to remain stable and even increase by 1.6 per cent.

CREB admits the forecast should be taken with a grain of salt, considering the uncertainty in the province right now.

The board bases its forecast on many factors including employment levels, net migration and consumer confidence. The plunge in crude oil prices is impacting all of those factors.

“The challenge is understanding what is happening in energy. No question what happens in the energy sector influences what happens in Calgary’s market,” said CREB chief economist Ann-Marie Lurie. “Given energy has been so volatile, we really have to look at what people are saying about what will happen in energy.”

Economists are either projecting Alberta to enter a recession this year or experience limited growth.

Several Calgary-based energy companies have announced layoffs, including Suncor which announced Tuesday it would be eliminating 1,000 jobs.

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