Ministries and other national bodies

Ministry of Economy and Finance

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

AIIB provides CFOCN $75M loan for fibre optic network

The Asian Infrastructure Investment Bank (AIIB), which is a Chinese initiative, has provided its first loan of $75 million to Cambodia Fiber Optic Communication Network Co Ltd (CFOCN) to improve the Kingdom’s internet speed and quality, an AIIB statement said. ...

Thou Vireak
https://www.phnompenhpost.com/business/aiib-provides-cfocn-75m-loan-fibre-optic-network

Kingdom, China ink contract for rice storage facilities, drying silos

Cambodia signed an engineering, procurement and construction contract on the “Promotion of Paddy Production and Rice Exports Project” with Chinese state-owned company CITIC Construction Co Ltd to build rice storage facilities and drying silos in strategic locations in the Kingdom, the Ministry of Economy and ...

Hin Pisei
https://www.phnompenhpost.com/business/kingdom-china-ink-contract-rice-storage-facilities-drying-silos

Sihanoukville wastewater plant upgrades receive greenlight

The inter-ministerial committee responsible for developing drainage and water treatment systems has agreed to proceed with an infrastructure project to provide Preah Sihanouk province’s Sihanoukville with the capacity to treat up to 30,000 cubic metres of wastewater per day. An agreement was made during an ...

Pech Sotheary
https://www.khmertimeskh.com/50607407/sihanoukville-wastewater-plant-upgrades-receive-greenlight/

World Bank to provide $1 billion in assistance, Ministry says

The World Bank will approve the disbursement of $1 billion to Cambodia to develop priority sectors in the next five years, according to the Ministry of Economy and Finance. The announcement was made by a World Bank delegation during a recent meeting with Acting Minister of ...

Chea Vannak
https://www.khmertimeskh.com/50605107/world-bank-to-provide-1-billion-in-assistance-ministry-says/

New airport study set for 2019

A feasibility study on the construction of a new airport in the Kingdom will be launched later this year, according to a Ministry of Tourism spokesman on Monday. The plan was approved last week in a meeting held by the Ministry of Economy and Finance ...

Cheng Sokhorng
https://www.phnompenhpost.com/business/new-airport-study-set-2019

Tax, customs revenue hits $1.68B this year

Cambodia collected some $1.68 billion in revenue from customs and taxation during the first three months of this year, said Prime Minister Hun Sen. Speaking recently at the 18th Government-Private Sector Forum, he said revenue from the Kingdom’s customs fees accounted for about $668 million ...

Hor Kimsay
https://www.phnompenhpost.com/business/tax-customs-revenue-hits-168b-year

Digital economy needs 10 years

Cambodia’s digital economy remains at a nascent stage and will need at least 10 years to grow and aim for a technology-driven economy, said Minister of Economy and Finance Aun Pornmoniroth. Speaking at the national consultation workshop on Policy and Direction of Cambodia’s Digital Economy ...

Hor Kimsay
https://www.phnompenhpost.com/business/digital-economy-needs-10-years

Cambodia’s tax revenue enjoys rise once again

The General Department of Taxation (GDT) collected over $2 billion in tax revenue last year, up 13.37 per cent from the same period in 2017, according to a statement released by the department on Tuesday. At the December 2018 tax collection revenue meeting, General Department ...

Post Staff
https://www.phnompenhpost.com/business/cambodias-tax-revenue-enjoys-rise-once-again

Ministry approves computer budget for schools

The Finance Ministry has approved a budget for the Education, Youth and Sport Ministry to spend on computers and printers for public schools. Finance Minister Aun Pornoniroth in a letter on Friday said the budget is to facilitate a part of the Education Ministry’s reform ...

Pech Sotheary
https://www.khmertimeskh.com/50572826/ministry-approves-computer-budget-for-schools/

Kamsab removed from ports as Kingdom braces for loss of preferential trade access

The Cambodian government has begun a series of reforms intended to strengthen economic independence and promote business in the Kingdom, as they prepare for the possible loss of preferential trade access to the EU and US in the coming months. Prime Minister Hun Sen on ...

Hin Pisei
https://www.phnompenhpost.com/business/kamsab-removed-ports-kingdom-braces-loss-preferential-trade-access

Number of factory openings up last year

Last year saw a notable increase in the number of factory openings, with 178 new plants coming online, 28 more than in 2017, according to the Ministry of Industry and Handicrafts. ...

Chea Vannak
https://www.khmertimeskh.com/50569629/number-of-factory-openings-up-last-year/

Economy grew 7.3 pct in 2018: Ministry

On the back of strong growth in the garment, construction and hospitality sectors, the national economy expanded by 7.3 percent last year, according to the Ministry of Economy and Finance. Presenting on the ministry’s latest report during a public forum on macroeconomic management and the ...

Chea Vannak
https://www.khmertimeskh.com/50569205/economy-grew-7-3-pct-in-2018-ministry/

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