The Ministry of Commerce Announced It Earned Riel 129,949 Million

The Ministry of Commerce Announced It Earned Riel 129,949 Million

The Mirror, Vol. 14, No. 657

“The Minister of Commerce, Mr. Cham Prasidh, said that in 2009, the Ministry was able to earn Riel 129,949,000,000 [approx. US$31 million] for the nation.

“Mr. Cham Prasidh said during a meeting of the Ministry of Commerce on 24 March 2010 that the income came only from public services that the Ministry provides to private companies.

“The services operated by the Ministry to get income include the registration of commercial operations and of commercial trademarks, the provision of certificates to certify the origin of products, and the checking of product quality, especially for food products for export and import, and for products sold at local markets.

“According to a report on the work in 2009 and on setting goals for 2010, 3,116 trademarks were registered in 2009, where only 698 were trademarks of local companies. Also, in 2009, the Ministry registered commercial operations for 2,045 companies which declined by about 26.5%, compared to 2008. Among those companies, only 39 companies were new companies, a drop by 2.5%.

“The same report added that though the registration of commercial operations declined, foreign investors from Vietnam, Korean, China, Malaysia, and Singapore significantly continue to trust the economic conditions and the political stability in Cambodia.

“The same source continued to say that the registration of export permits, based on the conditions and the origin of the products, covered 243 factories and 26 shoes factories. Those factories employ 320,834 workers who earned about US$27 million as monthly salaries.

“The exports to the United States of America amounted to about US$1.518 billion, which dropped by approximately US$471 million. The exports to Canada were US$198 million, declining by US$4.9 million compared with 2008. The exports to the European Union amounted to US$655 million, a drop by about 18%.

“Exports to other countries also declined. The exports to the American continent, excluding the United States of America and Canada, were about US$34 million, a downturn by about US$11 million. The exports to Europe, excluding the European Union countries, were about US$33 million, a decline by around 23%.

“The report adds that most products that Cambodia exported were garments and other textile products, shoes, rice, handicrafts, beer, and agricultural products, such as pepper.” Rasmei Kampuchea, Vol.18, #5160, 26.3.2010

This article was first published by The Mirror, [3] Vol. 14, No. 657 - Friday, 26.3.2010
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Norbert Klein is the Editor of The Mirror [4] – The Mirror is a daily comprehensive summary and translation of the major Khmer language press - More about The Mirror [5]