NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
- Posts: 35144
- Joined: Sun Oct 12, 2014 5:13 am
- Reputation: 1923
- Location: CEO Newsroom in Phnom Penh, Cambodia
Garment workers in Cambodia will see their wages increase 11% this year, but this will put further financial pressure on the country’s export sector.
Cambodia’s minimum wage, which has grown 150% in five years, will rise from US$153 to $170 a month, and include the 700,000 workers in the garment industry.
Garments and footwear make up 78% of the country’s exports, according to the General Department of Customs and Excise, rising 7.2% in 2016 to $7.3bn. Most exports are destined for Europe and the US, which respectively account for 45% and 25% of the market.
However, growth is forecast to have slowed to 5% in 2017, according to the Garment Manufacturers Association in Cambodia (GMAC), which warned that the minimum wage increase could mean the country gradually losing its competitive advantage as a low-cost sourcing destination.
The association represents 520 garment and 52 footwear manufacturers in Cambodia – 25 new factories opened last year, while 53 closed, it said.
GMAC deputy secretary-general Kaing Monika told The Phnom Penh Post the wage increase would likely result in the majority of GMAC members struggling to remain profitable. He urged the government to offset the higher salaries by reducing logistics costs.
The association’s proposals include halving the export management fee and reducing the fee levied by the Cambodia Import-Export Inspection and Fraud Repression Directorate-General, known as Camcontrol. Mr Monika said the current Camcontrol inspection fee of $50 per container should be reduced to $15, the same level as the fee levied by the Customs Department...
https://theloadstar.co.uk/rising-minimu ... -industry/
Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US
Cambodia Expats Online is the most popular community in the country. JOIN TODAY
Follow CEO on social media:
- Posts: 2321
- Joined: Sun Aug 20, 2017 7:44 am
- Reputation: 967
- Location: Phnom Penh
Better to have a job with smaller wage than no job at all.
BangladeshNow where will the Chinese get labour to make shit to sell to America?
- Sir Duncan
- Posts: 8018
- Joined: Tue Jun 03, 2014 8:22 pm
- Reputation: 2269
- Location: Wonder Why Central
and other countries in a crisis situation and you get an idea of where we could be heading.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
- Similar Topics
- Last post
- 1 Replies
- 914 Views
Last post by Bertros
Fri Sep 30, 2016 9:02 am
- 8 Replies
- 1936 Views
Last post by frank lee bent
Mon Oct 30, 2017 4:37 pm
- 7 Replies
- 1833 Views
Last post by John Bingham
Tue Nov 15, 2016 11:48 pm
- 4 Replies
- 533 Views
Last post by Adam Xie
Thu Sep 19, 2019 1:36 pm
- 1 Replies
- 353 Views
Last post by Duncan
Sat Oct 26, 2019 3:43 pm
- 34 Replies
- 3250 Views
Last post by SternAAlbifrons
Mon Sep 23, 2019 3:03 am
Users browsing this forum: No registered users and 64 guests