Ministries and other national bodies

Ministry of Economy and Finance

New digital platforms to ease tax collection and management

The General Department of Taxation (GDT) has organised an official signing ceremony of the letter of User Acceptance Testing (UAT), and launched the trial of a Data and Information Sharing Automatic System, according to a recent GDT’s press release. ...

Lim Nary/AKP
https://www.khmertimeskh.com/50787198/new-digital-platforms-to-ease-tax-collection-and-management/

Gov’t credit guarantee unit set for 2021

The Credit Guarantee Corporation of Cambodia (CGCC) is on track to be launched in the first half of next year, Banking Association of Cambodia (ABC) president In Channy told The Post on November 26. The CGCC was established by Sub-Decree No 140 ANKr BK on ...

Thou Vireak
https://www.phnompenhpost.com/business/govt-credit-guarantee-unit-set-2021

27 startups and SMEs chosen for special government grants

Khmer Enterprise (KE) yesterday signed grant agreements with 27 startups and small and medium enterprises (SMEs) for the first and second Khmer Enterprise Assistance Package programme, responding to the challenges and impacts of the COVID-19 pandemic on Cambodian entrepreneurs. ...

Sok Chan
https://www.khmertimeskh.com/50785809/27-startups-and-smes-chosen-for-special-government-grants/

Prakas on tax debt management issued

The Ministry of Economy and Finance on November 20 issued Prakas No 962 SHV BrK on Tax Debt Management. The new prakas sets forth rules and procedures relating to tax debt management and aims to ensure a more efficient, effective and transparent collection process. ...

Thou Vireak
https://www.phnompenhpost.com/business/prakas-tax-debt-management-issued

Long-awaited RCEP signing ‘bodes well for economic upturn’

The long-awaited Asia-Pacific Regional Comprehensive Economic Partnership (RCEP) agreement was officially signed yesterday.  The signing brings renewed hopes for comprehensive change in the flow of regional trade and investment and the promotion of intra-bloc supply chains capable of bolstering trust among members of the region’s ...

Sok Chan
https://www.khmertimeskh.com/50783043/long-awaited-rcep-signing-bodes-well-for-economic-upturn/

Exports climb 20% on $14B worth of Cambodian goods

Cambodia exported $14.1 billion worth of goods in the first nine months of this year, up 20.07 per cent from the same period last year, despite Covid-19’s production-chain disruptions and its impact on global demand, the Ministry of Economy and Finance reported. ...

Thou Vireak
https://www.phnompenhpost.com/business/exports-climb-20-14b-worth-cambodian-goods

IMF urges closer cooperation between statistics agencies in Cambodia

The International Monetary Fund (IMF) says closer cooperation between statistics-producing agencies in Cambodia is “essential” to improve the quality of macroeconomic statistics. ...

Sao Da/AKP
https://www.khmertimeskh.com/50778524/imf-urges-closer-cooperation-between-statistics-agencies-in-cambodia/

New investment law to be finalised in November

The Kingdom’s new draft law on investment is scheduled to be finalised by the end of November this year. It will help to drive the economic recovery in the context of COVID-19, according to the Ministry of Economy and Finance (MEF). ...

Sorn Sarath
https://www.khmertimeskh.com/50778372/new-investment-law-to-be-finanlised-in-november/

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/

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/

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/

New milestone for financial technology

Techo Startup Centre (TSC), under the Ministry of Economy and Finance and the association of banks in Cambodia, yesterday signed a memorandum of understanding (MoU) on cooperation to promote financial technology systems in Cambodia. ...

Sok Chan
https://www.khmertimeskh.com/50767710/new-milestone-for-financial-technology/

Move to unify non-banking finance regulators

A new non-banking financial services draft law designed to combine all non-banking regulators has been sent for legislative approval by Prime Minister Hun Sen during his most recent council of ministers meeting. ...

Kuch Nithatevy
https://www.khmertimeskh.com/50763856/move-to-unify-non-banking-finance-regulators/

Developing national entrepreneurship

The first National Entrepreneurship Award 2020 ended last month with a fruitful achievement. Meanwhile, the government is looking to scale up and make the second National Entrepreneurship Award more attractive for next year, according to a senior executive of Khmer Enterprise (KE), an implementation unit ...

Sok Chan
https://www.khmertimeskh.com/50764035/developing-national-entrepreneurship/

Trials and tribulations of entrepreneurship

A lot of young Cambodian adults now want to operate their own business rather than working for others. This trend has been rising year-on-year because they think working for themselves would help them become rich rapidly. ...

Sok Chan
https://www.khmertimeskh.com/50763049/trials-and-tribulations-of-entrepreneurship/

Foreign investors complain about the Kingdom’s business strictures

Foreign investors have asked the Cambodia government to reduce the cost of a certificate of origin (CO), which is currently far more expensive than other countries in ASEAN.​ ...

Sorn Sarath
https://www.khmertimeskh.com/50762873/foreign-investors-complain-about-the-kingdoms-business-strictures/

Draft of Siem Reap Tourism Development Master Plan to be finalised next month

The draft of Siem Reap tourism development master plan for 2020-2035 will be finalised in October this year, and submitted to the Council of Ministers for approval. ...

Chea Vannak/AKP
https://www.khmertimeskh.com/50762205/draft-of-siem-reap-tourism-development-master-plan-to-be-finalised-next-month/

Business owners embrace new online registration system

The number of companies registered via the government’s new online business registration system was confirmed as 287 as of July 29, while 323 companies are pending approval, according to data from the Ministry of Economy and Finance (MEF). ...

Sok Chan
https://www.khmertimeskh.com/50751123/business-owners-embrace-new-online-registration-system/

Draft digital policy speeding up

The government is speeding up its draft digital policy to adapt the economy to e-government. Minister of Post and Telecommunications Chea Vandeth was joined by the Ministry of Economy and Finance (MEF) Secretary of State Vongsey Vissoth to discuss the government’s digital policy concept note. ...

Sorn Sarath
https://www.khmertimeskh.com/50749967/draft-digital-policy-speeding-up/

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