Government

National 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/

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/

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/

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/

Flood instructions issued for schools to bolster safety

The Ministry of Education, Youth and Sport on Wednesday issued guidelines for schools to lessen the impact of flood damage. Minister Hang Chuon Naron said the recent flash floods have affected school buildings, study materials and equipment. ...

Mom Kunthear
https://www.phnompenhpost.com/national/flood-instructions-issued-schools-bolster-safety

Floods force road closures,13 dead

After inspecting heavily flooded roads in the country, the Ministry of Public Works and Transport urged specialists in Phnom Penh and the provinces to ban traffic on the most-affected roads to reduce safety risks to citizens and prevent damage to property. ...

Khouth Sophak Chakrya
https://www.phnompenhpost.com/national/floods-force-road-closures13-dead

Gov’t finds 145 cases of fake news last month

The Fake News Monitoring Committee of the Ministry of Information found 145 cases of fake news, incitement, social pollution and insults against the Kingdom’s senior leadership on social media in September. ...

Voun Dara
https://www.phnompenhpost.com/national/govt-finds-145-cases-fake-news-last-month

Gov’t acknowledges 12 quality child care centres

Nine organisations on Tuesday received certificates of acknowledgement for their child care centres from the Ministry of Social Affairs, Veterans and Youth Rehabilitation following ministerial evaluation at the centres. The organisations run 12 child care centres. ...

Mom Kunthear
https://www.phnompenhpost.com/national/govt-acknowledges-12-quality-child-care-centres

EUROCHAM urged to attract more investors

Labor Minister Ith Samheng yesterday asked the European Chamber of Commerce in Cambodia (EUROCHAM) president Tassilo Brinzer to help attract more investors to Cambodia. ...

Sen David
https://www.khmertimeskh.com/50773408/eurocham-urged-to-attract-more-investors/

Business registrations far speedier thanks to internet

“Within almost a four-month period as of October 2, 2020, we received a total of 1,793 applications, 1,367 of which have been approved and 426 of which are under review. The average number of days it takes to register a company is eight,” said Undersecretary ...

Sok Chan
https://www.khmertimeskh.com/50772450/business-registrations-far-speedier-thanks-to-internet/

Rubber exports are up but prices still remain elastic

Cambodia exported 179,621 tonnes of rubber in the first nine months of 2020, a jump of 3.78 per cent from the same period last year, according to data from the Ministry of Agriculture, Forestry and Fisheries. ...

Thou Vireak
https://www.phnompenhpost.com/business/rubber-exports-are-prices-still-remain-elastic

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/

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