Ministries and other national bodies

Ministry of Economy and Finance

De-dollarisation is ultimate goal of the Royal Government

A question and answer session with Deputy Prime Minister and Minister of Economy and Finance Dr Aun Pornmoniroth in conjunction with the 40th anniversary celebrations of the reintroduction of the riel. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50707318/de-dollarisation-is-ultimate-goal-of-the-royal-government/https://www.khmertimeskh.com/50707318/de-dollarisation-is-ultimate-goal-of-the-royal-government/

New tax rates announced for businesses and employees

The Ministry of Economy and Finance has revised the tax rates for all business owners and employees in Cambodia. Employers were instructed to deduct employee taxes according to the new rates from February onwards. Taxpayers have to submit the tax declaration by the 20th of ...

Voun Dara
https://www.phnompenhpost.com/national/new-tax-rates-announced-businesses-and-employees

Government pledges $2billion fund for economy

The government has announced they have prepared an emergency reserve fund of between $800million and $2billion to aid the Kingdom’s economic recovery in the wake of the COVID-19 outbreak. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50700267/government-pledges-2billion-fund-for-economy

$400 million to fight COVID-19

The Finance Ministry today reported the government has accumulated approximately $400 million in savings to be used during COVID-19 emergency cases in the Kingdom. ...

Sun Mesa
https://www.khmertimeskh.com/50699477/400-million-to-fight-covid-19

COVID-19: Gov’t to set up new economic measures

Despite no new cases of COVID-19 reported in Cambodia since January, the government is planning new measures to tackle the financial effect the virus continues to have on the country.   ...

Chea Vannak
https://www.khmertimeskh.com/50698578/covid-19-govt-to-set-up-new-economic-measures

Economy minister urges better infrastructure to prevent congestion at border crossings

The Cambodian government has pushed the implementation of separated border crossings and single window service checkpoints along the Thai and Vietnamese border checkpoints to better facilitate cross-border transportation, according to the Ministry of Economy and Finance. ...

Sok Chan
http://khmertimeskh.com/50697464/economy-minister-urges-better-infrastructure-to-prevent-congestion-at-border-crossings

Government income beats 2019 target

The government hit a 20-year record in fiscal revenues from tax and Customs and Excise last year, exceeding the target and rising nearly a third year-on-year. Together they were nearly equal to planned expenditure. ...

Chea Vannak
https://www.khmertimeskh.com/50696032/government-income-beats-2019-target

Preah Sihanouk to be turned into ‘second Shenzhen’

The government aims to transform Sihanoukville into Cambodia’s industrial hub – a “second Shenzhen city”, Ministry of Economy and Finance secretary of state Vongsey Vissoth said. Located along the coast, Preah Sihanouk province boasts an international airport, a railway line connected to Phnom Penh and ...

May Kunmakara
https://www.phnompenhpost.com/national/preah-sihanouk-be-turned-second-shenzhen

Gov’t to aid students facing food insecurity

The Ministries of Economy and Finance; and Education, Youth and Sport, will implement a food programme for 50,000 children in 205 target schools using community products. An announcement issued on January 23 and obtained by The Post on Monday said the two ministries would implement ...

Niem Chheng
https://www.phnompenhpost.com/national/govt-aid-students-facing-food-insecurity

Ministry drafting urban solid waste management policy

The financial policy committee of the Ministry of Economy and Finance is drafting the “Urban Solid Waste Management 2019-2028” policy to address waste management in Phnom Penh. Once approved, it will protect public health and the environment. Minister of Economy and Finance Aun Pornmoniroth, who ...

Voun Dara
https://www.phnompenhpost.com/national/ministry-drafting-urban-solid-waste-management-policy

Cambodia gets $118M in sovereign loans from AFD

Agence Francaise de Developpement (AFD) has provided Cambodia with a sovereign loan of 118 million euros ($121 million) for two projects – one to build the Bakheng water treatment plant and another to develop competitive skills. Minister of Economy and Finance Aun Porn Moniroth who ...

Ry Sochan
https://www.phnompenhpost.com/national/cambodia-gets-118m-sovereign-loans-afd

RDB set to distribute $50M to rice millers to sustain paddy market

The state-owned Rural Development Bank (RDB) has announced that it will distribute $50 million in loans to private rice millers to sustain the paddy market for farmers. The Cambodia Rice Federation (CRF) said the funds will be used to purchase nearly 300,000 tonnes of paddy ...

Thou Vireak
https://www.phnompenhpost.com/business/rdb-set-distribute-50m-rice-millers-sustain-paddy-market

Transport master plan nearing completion

The government has nearly finished the draft of the Intermodal Transport Master Plan 2021-2030 (the Plan), a Ministry of Economy and Finance press release said on Wednesday. The draft seeks to promote Cambodia’s connectivity, reduce transportation and logistics costs, integrate the Kingdom into the region ...

May Kunmakara
https://www.phnompenhpost.com/business/transport-master-plan-nearing-completion

Cambodia and Germany sign two cooperative financing agreements

Minister of Economy and Finance Aun Porn Moniroth and German ambassador to Cambodia Christian Berger on Thursday signed two cooperative financing agreements worth 67.1 million euros, equivalent to $74 million. ...

Taing Vida
https://www.khmertimeskh.com/50665702/cambodia-and-germany-sign-two-cooperative-financing-agreements/

Gov’t to raise 20% more tax revenue

As part of efforts to achieve a sound macroeconomy, the government plans to increase the revenue raised from taxation and customs and excise by more than 20 per cent next year. The 2020 national budget law approved on Tuesday targets a 28.1 per cent increase in ...

May Kunmakara
https://www.phnompenhpost.com/business/govt-raise-20-more-tax-revenue

Climate change to delay Kingdom’s ascent to middle-income economy

Climate change will slow down Cambodia’s economic growth progressively over the next decades and delay the country’s graduation to middle-income economy by one year, recent government reports show. The ministries of Economy and Finance and Environment on Friday launched two research papers: ‘Addressing Climate Change Impacts ...

Sok Chan
https://www.khmertimeskh.com/50648301/climate-change-to-delay-kingdoms-ascent-to-middle-income-economy/

World Bank approves $1 billion in development assistance

The World Bank has officially approved the disbursement of $1 billion to develop priority sectors in Cambodia, the Ministry of Economy and Finance announced Monday. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50643974/world-bank-approves-1-billion-in-development-assistance/

Infrastructure overhaul coming to Sihanoukville

The Ministry of Economy and Finance has highlighted three urgent measures to solve infrastructure woes in Preah Sihanouk province, which is facing challenges amid rapid development. The ministry highlighted measures focusing on roads and drainage systems in the province following a meeting with the Cooperation Committee ...

Sok Nalik
https://www.khmertimeskh.com/50638481/infrastructure-overhaul-coming-to-sihanoukville/

Committee to manage criminal seizures formed

The ministries of Economy and Finance, and Justice have established a committee to manage property seized from crime, a document signed by the respective ministers said. The “Managing Committee of Confiscated Property” is to handle the sale of items transferred from the courts after a ...

Niem Chheng
https://www.phnompenhpost.com/national/committee-manage-criminal-seizures-formed

Tax collection rises 66% in H1

The General Department of Taxation (GDT) collected more than $1.5 billion in tax revenue in the first six months of this year, up 66 per cent from the same period last year, according to a report released by the department on Wednesday. ...

Thou Vireak
https://www.phnompenhpost.com/business/tax-collection-rises-66-h1

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