Ministries and other national bodies

Ministry of Economy and Finance

Construction suffers from low growth

In the light of COVID-19, however, the sector is estimated to have suffered negative rate growth of 5.3 percent in 2020 and is expected to hit a growth rate of 3.3 per cent next year, according to an updated report by the Ministry of Economy ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50736882/construction-suffers-from-low-growth/

Electronic tax filing for medium and large payers

The General Department of Taxation (GDT) has officially now put into operation an electronic filing system for all medium and large taxpayers starting from early this month, according to a senior official of the department. ...

Sok Chan
https://www.khmertimeskh.com/50730465/electronic-tax-filing-for-medium-and-large-payers/

Road tax on vehicles gears up next month

The General Department of Taxation (GDT) has announced that the window for paying vehicle tax will be from next month until November. The deadline for paying not later than Nov 30 or vehicle owners will face a penalty charge. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50727329/road-tax-on-vehicles-gears-up-next-month/

Etiqa Insurance to get foothold in nation

Cambodia’s Ministry of Economy and Finance has granted a business licence to Etiqa Insurance & Takaful, a leading insurance provider in Malaysia, paving the way for the firm to tap into the Kingdom’s nascent insurance market, the company announced. ...

Chhut Bunthoeu
https://www.khmertimeskh.com/50726930/etiqa-insurance-to-get-foothold-in-nation/

Tax breaks to boost securities sector

The Ministry of Economy and Finance issued an announcement on the implementation of guidelines on withholding tax for investors in the securities sector to promote the development of stocks in the Kingdom. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50723348/tax-breaks-to-boost-securities-sector/

No loans from $100 million financing scheme

The government’s new $100 million Small and Medium Enterprise Co-Financing Scheme has yet to approve any applications, receiving only some ínquiries pending approval, according to a bank representative. ...

Sok Chan
https://www.khmertimeskh.com/50719826/no-loans-from-100-million-financing-scheme/

EU offers grant for Kingdom’s Covid-19 fight

EU Ambassador to Cambodia Carmen Moreno applauded the country’s efforts to control the Covid-19 crisis and said the EU is transferring a €56 million ($66.7 million) grant to help restore the economy, said a Ministry of Economy and Finance press release. ...

Niem Chheng
https://www.phnompenhpost.com/national/eu-offers-grant-kingdoms-covid-19-fight

Gov’t adhoc group to aid poor

The Ministry of Economy and Finance has created an adhoc working group to manage social support mechanisms to help impoverished people and marginalised groups during the fight against Covid-19. ...

Long Kimmarita
https://www.phnompenhpost.com/national/govt-adhoc-group-aid-poor

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

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