Economic policy and administration

The General Department of Taxation (GDT) has advised taxpayers and tax service agencies located in lockdown-restricted areas to electronically file income tax returns and avoid the risk of spreading the novel coronavirus. ...

The Ministry of Commerce posted $12.7 million in revenue for 2020, down by 50.83 per cent over $26.60 million in 2019, driven down by reductions in business registration fees and an increasing number of merchants self-certifying their products’ origins. ...

The much-anticipated Inclusive Business Enabling Environment for Cambodia (IbeeC) strategy will be adopted soon to meet the needs of 1.7 million poor and low-income Cambodians by 2023, a wide-ranging virtual meeting conducted by the Ministry of Industry, Science, Technology and Innovation heard on March 18. ...

Nine international business chambers have called on the General Department of Taxation (GDT) to extend the deadline for filing tax on income for fiscal year 2020 past March 31 in light of economic pressure caused by the Covid-19 pandemic. ...

Angkor Enterprise has extended the period of validity for entry tickets to Angkor Archaeological Park in a move to revive tourism to the sprawling temple complex, it said in a March 10 press release. ...

The private sector welcomed the Ministry of Posts and Telecommunications newest warning to unlicensed or otherwise non-legally-compliant telecoms operators as a necessary building block for sustainable growth in the industry. ...

Financial institutions that are members of the Cambodia Microfinance Association (CMA) restructured some $1.397 billion in loans for 289,422 borrowers as of February 28 since the National Bank of Cambodia (NBC) on March 27 issued a circular on loan restructuring during Covid-19, according to CMA. ...

Because trade between Cambodia and Timor-Leste remains low, the governments of both nations have decided to work towards boosting bilateral economic and business activities, according to a statement from the Ministry of Foreign Affairs and International Cooperation. ...

The National Bank of Cambodia (NBC) and the International Finance Corporation (IFC) will join forces on the “Cambodia Supply Chain Finance Market Development” project and expand financial access for the Kingdom’s small and medium-sized enterprises (SME). ...

Minister of Posts and Telecommunications Chea Vandeth on February 24 encouraged budding digital entrepreneurs to register for licenses and receive technical support, training and “encouragement” from the ministry. ...

The Hong Kong Special Administrative Region of China has expressed its readiness to cooperate and provide technical assistance for Cambodia in the field of e-commerce. ...

Minister of Economy and Finance Aun Pornmoniroth has proposed an adjustment on vehicle import duty, to be effective from March 1, to revive the market and buttress the logistics sector after customs clearance revenue on vehicles fell by 40 percent in 2020 from a year ...

The eighth Entrepreneurship Development Fund (EDF) Board of Directors Meeting yesterday reviewed and approved its medium-term strategic framework and annual work plan and budget for 2021. ...

With five free trade agreements (FTAs) on the docket this year, Cambodia is bolstering its logistics network in anticipation of the deals. To that end, last month the Prime Minister approved the immediate upgrade of the Stung Bot, Bavet and Poipet  checkpoints. ...

Following the successful completion of two rounds of assistance packages to support small and medium-sized enterprises (SMEs) and startups during the COVID-19 pandemic, Khmer Enterprise will implement a third this year. ...

Cambodia’s newly-drafted Investment Law will be in effect as soon as in April 2021, according to Ministry of Economy and Finance secretary of state Phan Phalla on January 27. He made the remark at the Public Forum on Macroeconomic Management and Budget Law 2021, ushering ...

Corporate leaders and senior officials attended the second Stakeholder Dialogue on Consumer Protection yesterday. The Kingdom drafted its Law on Consumer Protection in 2019 to comply with the Consumer Protection in ASEAN project, which aims to increase competitiveness in the region. ...

The Kingdom’s real economic growth is expected to recover by 4 percent in 2021 following a contraction of 3.1 percent in 2020, according to a report from the Ministry of Economy and Finance (MEF). ...

The government plans to boost non-garment manufacturing exports this year on the back of strong market demand as the availability of viable Covid-19 vaccines jumpstarts a global economy hungry for recovery. ...

The Ministry of Commerce is pressing on to register some of the Kingdom’s more renown products as collective trademarks and grant them domestic geographical indication (GI) to provide them with added exposure on the international market. ...

National Bank of Cambodia (NBC) officially launched its national retail payment system  “Retail Pay” yesterday to support and provide fast payment facilities for trade settlement and fund transfers in the Kingdom. ...

Fresh off the largest initial public offering in its history, the Cambodia Securities Exchange (CSX) is courting small and medium enterprises (SMEs) to list on its main board. ...

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 ...

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. ...