Ministries and other national bodies

Ministry of Economy and Finance

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/

Cambodia-U.S. trade Up 18 percent in first five months

Bilateral trade between Cambodia and the U.S. was recorded at $2,488.3 billion in the first five months of this year, a year-on-year increase of 18 percent. Statistics from the U.S. Census Bureau, from January to May, the Kingdom exported $2,363 million worth of products to ...

Chea Vannak/AKP
https://www.khmertimeskh.com/50748234/cambodia-u-s-trade-up-18-percent-in-first-five-months/

Credit guarantee system approved in principle

MINISTER of Economy and Finance Aun Pornmoniroth approved in principle the concept of strategic framework for establishing the Credit Guarantee Corp Cambodia, according to a statement from the Ministry of Economy and Finance (MEF). ...

Sok Chan
https://www.khmertimeskh.com/50748173/credit-guarantee-system-approved-in-principle/

Shared ministry database to speed up online business registration

Interior Minister Sar Kheng has recommended the creation of a sub-decree to formally connect the interior ministry’s General Department of Identification (GDI) and the Ministry of Economy’s Cambodia Data Exchange Platform (CamDX) databases after a successful pilot of the scheme. The announcement came at a ...

Khmer Times Staff
https://www.khmertimeskh.com/50745177/shared-ministry-database-to-speed-up-online-business-registration/

Ministry: New measures to help SMEs

To solve the current issues faced by small and medium enterprises (SMEs) in the Kingdom, the Ministry of Economy and Finance (MEF) has issued two main measures. Secretary of State at the MEF and Secretary-General of the Committee on Economic and Financial Policy Phan Phalla ...

Sok Chan
https://www.khmertimeskh.com/50744867/ministry-new-measures-to-help-smes/

Ministry works on digital agriculture challenge

The Ministry of Economy and Finance (MEF) together with the Techo Startup Centre and relevant stakeholders yesterday launched an inception workshop to disseminate information about a rural challenge and to discuss expectations of its intended digital platform under the Sustainable Assets for Agriculture Markets, Business ...

Sok Chan and Jason Boken
https://www.khmertimeskh.com/50744903/ministry-works-on-digital-agriculture-challenge/

Exclusive ADB may offer more than $1.5b in new funding

Khmer Times can report that the Asian Development Bank (ADB) is proposing to provide $1.5211 billion of new funding in its updated Cambodia country operations and business plan (COBP) 2021-2023. ...

Harrison White
https://www.khmertimeskh.com/50744668/exclusive-adb-may-offer-more-than-1-5b-in-new-funding/

Royal Group inks $35 million road deal on Koh Rong

Royal Group Koh Rong Development Company and Sinohydro Corporation Limited reached a $35 million deal on Tuesday to build a 70km road on Koh Rong Island. The road will be 8m wide and is expected to take 16 months to complete, according to the plan ...

May Kunmakara
https://www.phnompenhpost.com/national/royal-group-inks-35-million-road-deal-koh-rong

Gov’t collects $1.68B in tax revenue

The General Department of Taxation (GDT) collected $1.68407 billion in tax revenue in the first half of this year, up $181.68 million or 12 per cent compared to the same period last year, it said in a press release. Issued at a meeting on the ...

Hin Pisei
https://www.phnompenhpost.com/business/govt-collects-168b-tax-revenue

Government dips into its reserves

The government says that it has been withdrawing $1 billion from its savings to support spending in the fight against COVID-19 and to sustain, boost and restore the economy at a time national revenue is expected to drop from 20 percent to 30 percent, according ...

Sok Chan
https://www.khmertimeskh.com/50743333/government-dips-into-its-reserves/

Widening foreign debt sources to boost economic growth

Having been criticised for its position toward China, the world’s second largest economy, from where most of its foreign debt has come for years, Cambodia is now more likely to change its foreign loan sources to boost economic growth. ...

Sorn Sarath
https://www.khmertimeskh.com/50744111/widening-foreign-debt-sources-to-boost-economic-growth/

Council of Ministers approves draft law on state assets

The Office of the Council of Ministers has approved the draft law on Control, Use and Management of the State Assets, which aims to ensure that state assets are preserved for the common interests of the country and the people. The Ministry of Economy and ...

Ben Sokhean
https://www.khmertimeskh.com/50741610/council-of-ministers-approves-draft-law-on-state-assets/

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/

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