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Smart Axiata accounts for 1.5 per cent of GDP

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Smart Axiata Co Ltd contributed nearly $374 million to the Cambodian economy last year, its CEO Thomas Hundt said on Wednesday. Post Pix

Smart Axiata accounts for 1.5 per cent of GDP

Smart Axiata Co Ltd, the Kingdom’s leading mobile telecommunications operator, contributed nearly $374 million to the Cambodian economy last year, accounting for 1.5 per cent of gross domestic product (GDP), its CEO Thomas Hundt said on Wednesday.

Speaking at the launch of the company’s 2018 Sustainability Report, Hundt said the firm supported 51,035 jobs across its value chain.

“At Smart, we have always taken our national responsibilities very seriously. By the end of last year, Smart had invested more than $1.42 billion, as well as paid over $374 million in taxes, levies and regulatory fees.

“We also allocate more than one per cent of our annual revenue every year for CSR [corporate social responsibility] programmes that make a significant impact on the communities in which we operate,” Hundt said.

He said as well as remitting $86 million in taxes, levies and regulatory fees, with its tax payments alone representing 2.6 per cent of total national tax income, Smart Axiata was also the first telecoms operator to be recognised with a Gold Award for Tax Compliance by the General Department of Taxation.

The company has said it is committed to carrying out projects that drive mobile broadband infrastructure and human resource development by contributing more than $8.3 million to the government’s Universal Service Obligation Fund, as well as its Capacity Building and Research and Development Fund.

“I am delighted, and proud of Smart’s increased national contributions, business performance and societal impact.

“I hope the company builds on its mobile data leadership, exciting lifestyle entertainment services and long term commitment to Cambodia, while playing a collaborative role in developing the Kingdom’s digital ecosystem,” said David Lau Nai Pek, the chairman of Smart Axiata’s board of directors.

Minister of Posts and Telecommunications Tram Iv Tek said: “The event today was a good platform to understand Smart’s efforts in [the telecoms sector], and the opportunities they provide for us, universities, NGOs and the private sector to achieve better sustainability in Cambodia.”

Smart Axiata posted a net profit of $67.6 million last year, a slight drop from $68.1 million in 2017.

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