Regulator sees growth

[PHNOM PENH POST]

Camcontrol revenues for the first nine months of the year hit US$7.9 million, surpassing the Ministry of Economy and Finance’s revenue goal of $6 million for the year. Kong Putheara, director of the Ministry of Commerce’s statistics department, this week said the unexpected growth came from an increase in imports and exports. “The increase was not from [an increase in] minimum price for inspection services set by the state. This price remained stable. What caused increase was the growth of our imports and exports,” he said. Camcontrol is a regulatory body in charge of quality control for the Kingdom’s incoming and outgoing goods. Figures from the Ministry of Commerce showed that the total value of exported and imported goods during the first nine months of the year was about $8.4 billion and $ 5.9 billion, respectively. Cambodia would have seen more growth in business and Camcontrol revenue if the global economy had not faced a slowdown in demand in the US and Europe, Kong Putheara said. Sin Chanthy, general secretary of Cambodia Freight Forwarders Association and director general of Linelhaul Express Co Ltd, said his company’s shipping increased by 10 per cent between January and August over last year.