One of the world’s top alliances

AuditTaxAccountingConsulting

Africa | Asia | Australasia | Europe | Latin America | Middle East & North Africa | North America | UK & Ireland

 

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Established: 2006

Member of KICPAA: Feb 2010

Member of MGI Worldwide: Jan 2015

Mission: To provide professional services on Accounting, Audit, Tax, Corporate and Commercial, and M&A to all segments of SMEs, NGOs, MFIs, Bank, and Public Sectors in meeting and exceeding their full potential, and helping them to make changes in areas they have identified as important.

 

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Service Line:

- Audit and Assurance- Tax- Accounting - Corporate and Commercial

 

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Board of Director

Audit PartnerMS. MAITAExCom Committee &

QC CommitteeManaging Partner

MR. VEASNA

TBD

Operation DivisionTBD, Head

Acc. & Admin Officer

Admin Messenger

Tax & Acc. DivisionTBD, Head

Manager, Tax & Acc.

Mr. Kim San

Sr. Officer

Team Leader/Officers

Sr. Officer

Team Leader/Officers

Audit DivisionVBT, Head

Manager, AuditTBD

Senior Officer,

Team Leader/Auditors

Senior Officer

Team Leader/Auditors

Audit PartnerMR. Francis

•4 Partners (3 CPAs and 1 Non-CPAs)•20 Income Generating Staff•2 Others

 

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Clients Status

Number: 120

Industry:Technology and Telecom, Agriculture, Production, Service, Donor Funded Project, Trade, Tourism, Micro-finance and Mining.

 

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Cambodia Office

Mr. Chann Veasna, PartnerC: +855(0) 78 666 001 | T: +855(0) 23 210 918 | Skype: apv-veasnaE: cveasna@apvcambodia.com or info@apvcambodia.com W: www.apvcambodia.com

Phnom Penh Centre, Building A, 3rd floor, Room 324, Corner of Sihanouk (274) & Sothearos Blvd (3), Phnom Penh Capital, Kingdom of Cambodia.

Investment Environment and Opportunitiesin Cambodia

Presented by

Chann VeasnaPartner, APV

Key Indicators

Land area : 181,035 sq.km.

Population: 15 Million

Labor force (young) : 7,053,398 (Female: 3,608,345)

Population growth rate : 1.54%

GDP Growth (2013e) : 7.3%

GDP per capita (2013e) : $1,080

Inflation (2013e) : 4%

Exchange rate: USD 1= 4,000 Riels

Economic Performance

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e

GDP 9.20 6.50 5.30 5.70 5.00 12.6 9.20 7.70 6.20 8.60 10.0 13.3 10.8 10.2 6.70 0.10 5.90 7.10 7.30 7.30

Inflation 17.9 3.50 10% 9.20 13.3 4.00 -0.8 0.20 3.30 1.20 3.90 5.80 4.70 5.9% 19.7 -0.6 4.00 4.90 3.00 4.00

-5.00%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

0%

2%

4%

6%

8%

10%

12%

14%

z

Source: SNEC & MEF

Average growth for last 5 years is 5.6%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e

GDP per capita 402 468 534 623 738 731 830 909 990 1,080

Information & ApplicationApprovalCustoms Duty & Tax ExemptionVisa & Work PermitCompany Registration

A ONE STOP SERVICE

Licensing Authorities

Council of Ministers : CDC but needs approval from CoM for project with investment capital exceeding $ 50 million, BOT, BOOT, BOO or BLT, long-term strategy, sensitive projects: negative impact on the environment and natural resource exploitation

CDC : less than $ 50 million

Provincial Authorities : less than $ 2 million

Investment Approval

Investment application

CDC issues a Conditional Registration Certificate to the Applicant

Company Registration / Ministry of Commerce

Relevant licenses, as appropriate / Ministry of Industry and Energy

Review and approval of construction plan / local authorities-

Ministry of Land Management, Urban Planning and Construction.

Initial environmental impact assessment / Ministry of Environment

Tax Department Registration / Ministry of Economy and Finance

CDC issues a Final Registration Certificate to the Applicant

3 working days

28 working days

Investment Incentives

20% Corporate Tax

Tax holidays: Trigger period +3years+n; 6y <TH<9y

Full Import Duty Exemption

Special Depreciation (Reinvestment of Earning)

Investment Protection

Equal treatment of all investors (foreigners = nationals )

No requirement of local equity participationNo price controls on products or servicesNo restriction on forex convertibilityFree remittance of foreign currencies abroad

The Investment Law and Sub-decree contains a number of important guarantees for the investors:

Encouraged Investment Activities

Agriculture and agro-industryTransport and telecommunications Energy and electricityLabor-intensive industries, processing and

manufacturing;TourismHuman resource developmentOil & Gas, Mining

Approved Investments by Country/Region (Outside SEZs 1994-2013)

Ch

ina

Ko

rea

EU

Mal

aysi

a

Vie

tnam

US

A

Tai

wan

Th

aila

nd

Ho

ng

Ko

ng

Sin

gap

ore

Jap

an

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000 9,611

4,405 3,649

2,620

1,524 1,294 1,021 899 870 786 391

US$ Million

Approved Investments by Sector1994 –2013

Industry29%

Agriculture10% Service

17%

Tourism44%

Investments in Cambodia 2008-2013Rank

2008 2009 2010 2011 2012 2013

$11,420,127183 $6,309,435,594 $3,029,497,634 $7,984,908,645 $2,965,537,652 $3,314,528,763

Country % Country % Country % Country % Country % Country %

1 China 39.45 Cambodia 60.81 Korea 35.10 U.K 30.93 Cambodia 42.08 Cambodia68.80

2 Cambodia 36.73 China 14.93 China 28.73 Cambodia 29.76 China 20.69 China15.68

3 Korea 10.89 Vietnam 5.58 Cambodia 14.91 China 22.05 Korea 9.89 Vietnam6.10

4 USA 5.59 Singapore 4.81 Malaysia 8.53 Vietnam 8.65 Japan 9.15 Thailand4.37

5 Israel 2.63 Russia 3.84 Vietnam 5.23 Malaysia 3.03 Malaysia 6.04 Korea1.76

6 Russia 0.92 Thailand 3.53 Portugal 1.66 Korea 2.10 Thailand 4.53 Japan1.59

7 U.K 0.59 Korea 2.89 Australia 1.65 U.S.A 1.78 Vietnam 2.89 Malaysia1.04

8 Austria 0.54 India 1.90 Singapore 1.02 Japan 0.83 Singapore 2.59 Singapore1.03

9 Vietnam 0.51 Malaysia 1.19 Denmark 0.97 Australia 0.31 U.K 0.51 UK0.43

10 France 0.50 Japan 0.20 Japan 0.86 Singapore 0.20 U.S.A 0.42 France0.27

11 Others 1.28 Others 0.32 Others 1.35 Others 0.35 Others 1.21 Others 0.96

Eco-Tourism

Tourism CenterPoipet

Sihanoukville

Gulf of Thailand

314km

230 km

150 km

Beach & Island Resorts

Bokor (hill resort)

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

177 220 260 219 289 368 466

604 701

1055

1421

1700

2015 2125

2161

2500

2882

3584 3,778

Visitors to Cambodia

Thousand (000)

Vision 2020: Visitor arrival from 2010 – 2020

YEAR 2010 2012 2015 2020

Visitor Arrivals 2,508,289 3,584,307 5,100,000 7,000,000

Manufacturing & Export

Competitive labor cost Tax incentives

Market access Asean Economic Community 2015

Cambodia’s Special Economic Zones

No Activities

Under Construction

Operational Kampot SEZSihanoukville Port SEZ

Poipet O’Neang SEZ

Sihanoukville SEZ1

Sihanoukville SEZ2

Stung Hao SEZ

S.N.C SEZ

Kompong Som SEZ

Koh Kong SEZ

Souy Chheng SEZ

Oknha Mong SEZ

Kiri Sakor Koh Kong SEZ

P (SEZ) I C

Thary Kompong Cham SEZ

GoldFame Pak Shun SEZ

Duong Chhiv SEZ

Phnom Penh SEZ

M D S Thmor Da SEZ

H K T SEZ

Kandal SEZ

Dragon King SEZ

Hi Park SEZ Shangdong Shunshell

Zhong Jiang SEZ

Sanco Cambo Inv. Group

Reasons to invest in Cambodia

Open economySound Macroeconomic EnvironmentCompetitive Investment IncentivesOne Stop Service – Fast-Track Investment Approval

Process (28 days)Low Labor CostStrategic LocationPreferential Trading StatusAccess to ASEAN and World Markets

.

Phnom PenhThe Philippines

Singapore

Indonesia

MyanmarSouthern China

ManilaBangkok

Kunming

Yangon

Brunei

Jakarta

Begawan

Hanoi

Laoso Vientiane

CAMBODIA

Malaysia

Kuala Lumpur

Thailand

Vietnam

1h:30 in average

Invest in Cambodia and

you have 15 million

consumers

Invest in Cambodia and

you have 15 million

consumers

Invest in Cambodia and you

have 325 million consumers

virtually at your doorstep

Invest in Cambodia and you

have 325 million consumers

virtually at your doorstep

Invest in Cambodia and you have 600 million

consumers at your doorstep

Invest in Cambodia and you have 600 million

consumers at your doorstep

Thank you