Government

MFI credit risk relatively low, NBC’s Serey says

On the basis that non-performing loans stood around 2.3 percent as of August 31, 2020, credit risk in the microfinance sector remains relatively low, said National Bank of Cambodia assistant governor and director-general Chea Serey. ...

Sangeetha Amarthalingam
https://www.phnompenhpost.com/business/mfi-credit-risk-relatively-low-nbcs-serey-says

$400 million transmission line to bring in Laos, Thailand power

The construction of a combined more-than $400 million power transmission line connecting Cambodia to Laos and the Thai border will start next year, according to an official from the Ministry of Mines and Energy (MME). ...

Sorn Sarath
https://www.khmertimeskh.com/50777612/400-million-transmission-line-to-bring-in-laos-thailand-power/

Cambodia Expects to be Landmine-Free Within 5 Years

The Cambodian government will deploy 2,000 soldiers to train as deminers after Western nations, led by the United States, bolstered efforts to rid the country of landmines and other unexploded ordnance by 2025. ...

Luke Hunt
https://www.voacambodia.com/a/5635885.html

Fiscal revenue growth revised down

The Cambodian government has revised its target for year-on-year fiscal revenue growth to 0.3 percent of gross domestic product (GDP), down from the planned 0.5 percent increases as outlined in the original Revenue Mobilisation Strategy 2019-2023. ...

Harrison White
https://www.khmertimeskh.com/50777271/fiscal-revenue-growth-revised-down/

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/

Cambodia continues to draw FDI despite loss of EBA with another four investment projects worth $37.6 million

The Council for the Development of Cambodia (CDC) has given the green light to four more investment projects with a total investment capital of $37.6 million. According to the council’s press release issued Friday, the projects newly approved are expected to create some 6,338 jobs ...

Phal Sophanith/AKP
https://www.khmertimeskh.com/50776597/cambodia-continues-to-draw-fdi-despite-loss-of-eba-with-another-four-investment-projects-worth-37-6-million/

Minister reassures Cambodia’s response to COVID-19 fallouts

Vongsey Vissoth has reiterated the Royal Government of Cambodia’s promising response to the fallouts of the COVID-19. National budget has been reprioritised to allocate about $1 billion to address the emergency areas. ...

Phal Sophanith/AKP
https://www.khmertimeskh.com/50776547/minister-reassures-cambodias-response-to-covid-19-fallouts/

Government to increase cash for Labour to $160 million

The Royal Government has decided to increase the budget for Cash for Labour from $100 million to $160 million. ...

Khmer Times Staff
https://www.khmertimeskh.com/50776562/government-to-increase-cash-for-labour-to-160-million/

Government allocates over $31 million more for IDPoor scheme

The government has deposited more than $31 million to Wing agents nationwide to provide for the third round of payments for the IDPoor equity card scheme, set to benefit nearly 700,000 poor and vulnerable families, equivalent to 2.8 million people. ...

https://www.khmertimeskh.com/50776774/government-allocates-over-31-million-more-for-idpoor-scheme/
https://www.khmertimeskh.com/50776774/government-allocates-over-31-million-more-for-idpoor-scheme/

Free-trade deals ‘not necessarily good’

Having more free trade agreements with partner countries is a good deal for Cambodia that currently gets its biggest advantage from trade preferences under its Least Developed Country status. ...

Sorn Sarath
https://www.khmertimeskh.com/50776237/free-trade-deals-not-necessarily-good/

Capital gains tax delayed to 2022

The government has decided to delay the implementation of capital gains tax to Jan 1, 2022, according to a statement from the General Department of Taxation (GDT). ...

Sok Chan
https://www.khmertimeskh.com/50776024/capital-gains-tax-delayed-to-2022/

Kingdom signs deal with US on patents

Cambodia and the US have signed a memorandum of understanding (MoU) on patent cooperation, the move that will accelerate the bilateral trade between the two countries, according to the Ministry of Industry, Science, Technology and Innovation (MISTI). ...

Sorn Sarath
https://www.khmertimeskh.com/50776238/kingdom-signs-deal-with-us-on-patents/

More than 250,000 new voters registered

The National Election Committee (NEC) has seen an increase in new voters registering this year in comparison to last year.   ...

Ry Sochan
https://www.khmertimeskh.com/50774600/more-than-250000-new-voters-registered/

NBC auctions $50 million

The National Bank of Cambodia (NBC) has announced a $50 million auction this week to stabilise the local currency exchange rate in the market. The NBC has informed banks, microfinance institutions (MFIs) and licensed money exchangers that the minimum rate for auction will be announced ...

Sorn Sarath
https://www.khmertimeskh.com/50775257/nbc-auctions-50-million/

Speculation fears over location of new ring road

The Ministry of Public Works and Transport (MPWT) held consultations to decide the location of National Ring Road 4 around Phnom Penh. Once complete, it is expected to ease traffic and freight transportation. But the location of the project is being kept under wraps to ...

Jason Boken
https://www.khmertimeskh.com/50775152/speculation-fears-over-location-of-new-ring-road/

Ministry speeding up draft port law

The Ministry of Public Works and Transport has convened a meeting to discuss the speeding up of the draft port law. The law is expected to play a crucial role in management and development of port, promotion of national and international trade, order maintenance, facilitation ...

Lim Nary/AKP
https://www.khmertimeskh.com/50773840/ministry-speeding-up-draft-port-law/

Frog farming encouraged as market demand rising

Veng Sakhon, Minister of Agriculture, Forestry and Fisheries, has encouraged farmers to consider raising frogs as the market demand for the baby frogs is increasing. ...

Lim Nary – AKP
https://www.khmertimeskh.com/50773462/frog-farming-encouraged-as-market-demand-rising/

More positive outlook for Kingdom’s economy

Global financial institutions have provided a more positive outlook for Cambodia’s economic outlook because the country has been far less affected by COVID-19 than others. Cambodia’s Ministry of Economy and Finance (MEF) claimed that the prediction is based at least in part on the government’s ...

Sorn Sarath
https://www.khmertimeskh.com/50773770/more-positive-outlook-for-kingdoms-economy/

Roadmap to restore tourism discussed

The Ministry of Tourism and the private sector have discussed a nearly 200-page draft roadmap to restore the tourism sector during and after the COVID-19 crisis for the period 2020-2025. ...

Sorn Sarath
https://www.khmertimeskh.com/50773942/roadmap-to-restore-tourism-discussed/

New draft law on investment mulled

The government is sending a new draft law on investment to the private sector to discuss ways to make it more comprehensive and help Cambodia become an attractive destination for new investment and to improve the investment environment in the country. ...

Sok Chan
https://www.khmertimeskh.com/50773944/new-draft-law-on-investment-mulled/

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