Economy and commerce

Economic policy and administration

Gains not losses: Key factors that affect share prices in the market

Share price fluctuations can either create opportunities for gains for investors – or potentially be the cause of losses. Factors that drive demand (buying orders) higher than supply (selling orders) will generally lead to an increase in stock price. Conversely, any that drive supply higher ...

Post Staff
https://www.phnompenhpost.com/banking-securities-business/gains-not-losses-key-factors-affect-share-prices-market

Ministry revamps self-assessment tax regime classifications

The Ministry of Economy and Finance has issued a prakas (directive) for the classification of taxpayers doing business in the Kingdom currently under the existing self-assessment regime. ...

Sok Chan
https://www.khmertimeskh.com/50804495/ministry-revamps-self-assessment-tax-regime-classifications/

SME fund fully subscribed

A $100 million small and medium enterprise co-financing scheme (SCFS) fund was fully subscribed by mid-October 2020, according to a senior executive of SME Bank of Cambodia. ...

Sok Chan
https://www.khmertimeskh.com/50803513/sme-fund-fully-subscribed/

Cambodia readies for EU meet on 7-year work plan

The Kingdom is set to host a consultative meeting with EU representatives and partners based in the country next month and prepare a 2021-2027 joint development cooperation plan that centres on market diversification, according to the Council for the Development of Cambodia (CDC). ...

Thou Vireak
https://www.phnompenhpost.com/business/cambodia-readies-eu-meet-7-year-work-plan

Ministry mulls ASEAN+3 travel bubble

The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid the crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The ...

May Kunmakara
https://www.phnompenhpost.com/business/ministry-mulls-asean3-travel-bubble

Development bank delivers $245mn to agri-sector producers, exporters, SMEs

A senior executive of the state-owned Agriculture Rural Development Bank (ARDB) said the financial institution has released $245 million to rice millers and exporters, the livestock sector and small and medium enterprises (SMEs) in the agriculture sector. ...

Sok Chan
https://www.khmertimeskh.com/50802809/development-bank-delivers-245mn-to-agri-sector-producers-exporters-smes/

CMA says member institutions have restructured $1.38B of loans

The Cambodia Microfinance Association (CMA) has announced that as of January 3, 2021, CMA members have provided loan restructuring worth $1.382 billion.  The total number of restructuring requests stood at 303,593 with 285,234 having been granted. ...

Sok Chan
https://www.khmertimeskh.com/50802377/cma-says-member-institutions-have-restructured-138b-of-loans/

Firms yearn for investment law in 2021

Optimism prevails in the private sector that the Investment Law widely anticipated to launch later in the year will spell new momentum in the Kingdom’s industrial diversification in parallel with the region and beyond. The current edition of the law comprises 11 chapter and 39 ...

May Kunmakara
https://www.phnompenhpost.com/business/firms-yearn-investment-law-2021

NBC: 4% economic growth in 2021

The National Bank of Cambodia (NBC) on December 31 forecast that the Kingdom’s economic growth will return to four percent growth this year if Covid-19 vaccines can successfully curtail the spread in the first half. The central bank’s forecast published in its Macroeconomic and Banking ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-4-economic-growth-2021

An outlook into 2021 economy

Cambodia’s economy will contract two per cent in 2020 before swiftly recovering to four per cent growth this year, the World Bank projects, citing effective government measures that respond to the specific needs of the most affected sectors – including tourism, garments and textiles, and ...

May Kunmakara
https://www.phnompenhpost.com/business/outlook-2021-economy

Tax cuts and exemptions extended

Tax cuts and exemptions will be extended to help companies and unemployed workers better weather the ongoing effects of the COVID-19 pandemic, according a statement issued last week by the government. ...

Jason Boken
https://www.khmertimeskh.com/50797743/tax-cuts-and-exemptions-extended-2/

GDT terminates the E-VAT Refund System

General Department of Taxation (GDT) has announced to the taxpayers that it has terminated the electronic value added tax refund system (E-VAT Refund System), replacing it with the electronic filing system (E-Filing System), according to the GDT’s announcement. ...

Sok Chan
https://www.khmertimeskh.com/50792276/gdt-terminates-the-e-vat-refund-system/

2021 draft budget sees a half billion reduction

The Royal Government of Cambodia, through the Council of Ministers, has approved a draft annual budget of approximately $7.62 billion for the year 2021. The approval was made during a cabinet meeting held last Friday, chaired by Prime Minister Hun Sen. ...

Harrison White
https://www.khmertimeskh.com/50776654/2021-draft-budget-sees-a-half-billion-reduction/

NBC: Informal lenders shouldn’t tarnish all industry

The National Bank of Cambodia (NBC) has made it clear that the whole microfinance industry should not be held accountable for some of the unregulated microloans that are pushing people deeper into debt. ...

Jason Boken
https://www.khmertimeskh.com/50771437/nbc-informal-lenders-shouldnt-tarnish-all-industry/

Arbitration rules under review

The National Commercial Arbitration Centre (NCAC) of Cambodia is in the process of  reviewing and amending its current arbitration rules, which have been implemented since 2014, to better serve the needs of businesses. ...

Sorn Sarath
https://www.khmertimeskh.com/50749327/arbitration-rules-under-review/

‘Single Portal’ integrated registration system welcomes nearly 50 firms

Forty-seven companies have successfully registered via a newly-launched information technology e-business registration platform as of the end of the second week of this month, Ministry of Economy and Finance secretary of state Phan Phalla said.​ ...

Thou Vireak
https://www.phnompenhpost.com/business/single-portal-integrated-registration-system-welcomes-nearly-50-firms

Anti-money laundering draft law approved

Cambodia’s draft law of anti-money laundering bill has been approved today at the Council of Ministers meeting chaired by Prime Minister Hun Sen. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50723656/anti-money-laundering-draft-law-approved/

Australia comes to Cambodia’s help

Australian government is studying the new project to help Cambodia’s economy development, trade facilitate and diversification, according to Australian Ambassador to Cambodia. ...

Sorn Sarath
https://www.khmertimeskh.com/50722365/australia-comes-to-cambodias-help/

Int’l digital payment firms ‘committed’ to de-dollarisation

Visa Inc. is one of several international digital payment firms who have said they are committed to supporting the government and the National Bank of Cambodia (NBC) in their de-dollarisation mission. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50713285/intl-digital-payment-firms-committed-to-de-dollarisation/

Cambodian firms urged to embrace e-commerce

The president of the Cambodian Investment Federation on Sunday highlighted the critical role of e-commerce in the local market as the government works to turn the Kingdom into a digital economy. ...

Thou Vireak
https://www.phnompenhpost.com/business/cambodian-firms-urged-embrace-e-commerce

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