Revenue at the Cambodia Post (CP), the country’s mail service provider, rose nearly $2 million in the first half of this year, a 10 per cent increase compared to the same period in 2012. But the service still handles mostly international shipments, and is failing to make a dent domestically.
Ork Bora, CP’s general director, attributed the revenue to an increase in foreign direct investment and a surge in tourism.
“Large increases in the numbers of people who are going to live and work abroad is also a big contributor to the growth of our revenue,” he said.
The raise, however, was almost entirely driven by volume between Cambodia and its neighbours. Bora said that most Cambodian workers outside of the country in South Korea, Malaysia and Thailand use CP to send money or products home, while families send back goods.
Cambodia Post now dispatches mail to 192 countries, but revenue from domestic services accounts for a mere one per cent of total revenue, Bora said.
“Now, we are trying to differentiate our domestic revenue by increasing the accessibility of our services to customers. We are opening more branches nationwide.”
CP signed an agreement with Canadia Bank last month to provide a loan and deposit service called Cambodia Post Bank, targeting rural Cambodians and their businesses. The program has not been implemented yet.
Bora also said he will urge the Ministry of Posts and Telecommunications to crack down on the informal post, in which Cambodians use taxis and messengers for deliveries.