Ministry of Economy and Finance

Even if current levels of spending on climate change adaptation are maintained, rising temperatures in the Kingdom will continue to impact economic performance, reducing the country’s GDP by almost 10 percent by the year 2050, a report released Tuesday has found. ...

The General Department of Taxation collected more than $761 million in taxes during the first three months of the year, a slight increase of about 10 percent compared to the same period in 2017. ...

City Hall issued a statement on Wednesday dismissing information that civil registration certificates, including ID cards, would include fees after the national election in July and asked authorities to find and punish those who spread the false information. ...

The government has issued a new warning to telecommunications companies that have yet to deliver outstanding payments to the Kingdom’s ministries, giving regulators until the end of the month to settle their debts. ...

Cambodia has signed a double taxation agreement with Vietnam that protects each country’s nationals from dual taxation, according to a news release from the General Department of Taxation released on Tuesday. The agreement was signed on Saturday on the sidelines of the Greater Mekong Subregion ...

Cambodia should continue to see steady economic growth at about 7 percent this year despite potential investor caution that could arise ahead of July’s national election, officials from the Ministry of Economy and Finance (MEF) said on Wednesday. ...

According to the latest forecast from the International Monetary Fund (IMF), Cambodia economy will grow by 7 percent this year on the back of higher public spending and steady growth in construction and tourism. The IMF’s forecast is slightly higher than the figure released by the ...

Tax on nearly 6,000 vehicles across the country has not been paid on time as required, according to an inspection by the Ministry of Economy and Finance’s General Department of Taxation. A press release by the GDT signed on March 16 and released yesterday said the ...

The Cambodia Securities Exchange (CSX) yesterday officially launched a website and an app to help investors and the public achieve a better understanding of the stock market.​ ...

The government will begin to pay out of pocket for severance wages for labourers at abruptly shuttered factories whose owners have fled, effectively enacting a pro-worker policy without further burdening private businesses – albeit at the risk of discouraging good corporate citizenship, experts say. ...

When government-aligned Fresh News reported on Sunday that bilateral trade between the US and Cambodia had increased to $3.46 billion last year, up more than 8 percent from the year before, they weren’t using Cambodian government data. Nor was the state-run Agence Kampuchea Presse using government ...

The Ministry of Economy and Finance held a workshop yesterday to finalise a draft on a sub-decree managing non-tax revenue sources, part of the government’s attempt to improve its revenue collection. ...

Interior Minister Sar Kheng on Monday said the Cambodian government could not afford more passport printing machines to speed up the process of documenting the hundreds of thousands of citizens working abroad, predominantly in Thailand. ...

The government plans to reduce its foreign debt and raise capital through the issuance of bonds, a representative of the Ministry of Economy and Finance has unveiled. “Increasing local borrowing instead of foreign borrowing will improve the country’s trade balance and current account,” said Vong Seyvisoth, ...

The government has created a new interministerial committee to manage the activities of international NGOs, with an Interior Ministry official yesterday saying the body was intended to monitor organisations’ compliance with the controversial NGO Law. ...

The Japanese government on Tuesday pledged to donate two patrol boats to the General Department of Customs and Excise. The announcement was made in a meeting between Economy Minister Aun Ponmonirath and Iizuka Atsushi, director-general of Japan’s Customs Bureau. ...

The Asian Development Bank (ADB) yesterday signed a $180 million package of loans and grants to Cambodia that are meant to improve the country’s roads, water supply and small-scale farms. One $70 million loan will go towards improving 147-kilometres’ worth of flood-prone stretches of National Road ...

The Securities and Exchange Commission of Cambodia (SECC) has decided to slash transaction fees on derivative trading, a move the SECC claims will help spur future trades. ...

The government and the Global Fund have signed a grant agreement worth more than $55 million to implement anti-AIDS and tuberculosis programmes in Cambodia from 2018 to 2020. ...

The Cambodian government recently laid out the framework for the creation of a National Council of Logistics, a specialised interministerial team designed to tackle the high costs of the Kingdom’s logistics sector to promote the efficient flow of exports, according to a royal decree issued ...

The Ministry of Economy and Finance (MEF) recently decided to shrink the tax burden for local microfinance institutions (MFIs) by lowering withholding tax on interest from loans acquired from abroad from 14 to 10 percent, a move that the government claims will keep the massive ...

The government plans to borrow an additional 1 billion through Special Drawing Rights (SDR), or $1.4 billion, to meet its planned budget for next year, bringing the total national debt to $7.6 billion by the end of 2018 compared to the current level of $6.2 ...

An inter-ministerial joint working group yesterday said it would continue its work on resolving land disputes for 540 families battling sugarcane companies in four provinces. ...

The government has borrowed $732.06 million in the form of concessional loans from development partners (DPs), amounting to 74.83 percent of the debt ceiling of Special Drawing Rights (SDR) approved by the National Assembly last year, according to the latest report on Cambodia’s public debt. ...