Economic policy and administration

Extolling forecasts that Cambodia’s economy will maintain its 7 percent growth rate this year, Prime Minister Hun Sen yesterday reiterated a past prediction that the country would reach upper-middle income status by 2030 and become a high-income country in 2050 – though one expert said ...

As part of ongoing government efforts to modernize and streamline the country’s tax system, 43 tax agent licenses were awarded yesterday. The 43 companies are now legally recognized as offering tax declaration services to the public and private sectors. Eighteen had previously been doing this work ...

The country’s Small and Medium Enterprises (SMEs) have been urged to register with the Ministry of Industry by early next year, in order that government policy intended to aid competitiveness can be more effective. ...

reah Sihanouk provincial authorities have ordered a casino that operated in Sihanoukville shut down after it failed to renew its operating licence, local media reported yesterday.​ ...

The Ministry of Commerce has extended the deadline for companies to re-register their businesses online for a third – and “final” – time, giving companies until December 31 to complete the online registration before penalties kick in, according to a document posted yesterday on the ...

Fewer than half of Cambodia’s 42,000 registered businesses have met the government’s deadline for reregistering online, prompting the Ministry of Commerce to consider another extension, a spokeswoman said on Tuesday.​ ...

The government will not increase the rate for income tax and other taxes for the next two years, but will instead concentrate on expanding the base for tax collection, taking into account that there are still many individuals and businesses that do not pay tax ...

Cambodia’s first independent association for promoting intellectual property (IP) is seeking closer cooperation with government agencies to help the private sector better understand IP, its benefits and the importance of registering their products. ...

A civil society organisation has raised concerns about the proposed Regional Comprehensive Economic Partnership (RCEP), claiming that one provision of the sweeping trade agreement would limit the Kingdom’s ability to draft socially beneficial policies. ...

A new report by market research firm TNS identifies five triggers that acted together as catalysts for the dramatic changes in consumer behaviour that led to China’s “explosive” e-commerce growth, and suggests other Asian economies could be on the same trajectory. ...

The two-day official state visit to the Kingdom, that started yesterday, by Vietnam’s new President Tran Dai Quang marks a new milestone for bilateral trade and investment between the two close neighbors that would also have a multiplier effect of attracting overseas capital into the ...

A South Korean phone-based money transfer company has partnered with Wing Specialized Bank to tap into remittance services for Cambodians living and working abroad. ...

The Cambodian Federation of Employers and Business Associations (CAMFEBA) yesterday launched an ASEAN Economic Community (AEC) guidebook aimed at providing employers with practical recommendations to help businesses better understand the dynamic regional changes of integration. ...

Elections are due in the Cambodia Rice Federation (CRF) for the second term of its president and council of board members. The elections come at a crucial time as the government considers an emergency loan request from the CRF to help protect the rice sector ...

Integrating Asian economies through a proposed regional partnership and other trade deals is vital for achieving sustainable growth, Cambodia’s public works minister said on Monday. ...

German-backed online job recruitment portal Everjobs officially announced plans yesterday to conduct its first career fair in Cambodia. The company, which entered into Cambodia a year ago, joins the ranks of numerous online job portals aiming to dominate the recruitment market.   ...

The American coffee franchise giant Starbucks opened its second outlet in Cambodia at Aeon Mall yesterday. ...

The Cambodia Chamber of Commerce has discussed the possibility of establishing arbitration and a mediator to solve commercial conflicts in Cambodia’s business community, where every conflict now ends up in the court system. ...

Cambodia is a major player in ASEAN for realizing China’s Belt and Road Initiative, which Chinese President Xi Jinping proposed last year to connect China to neighboring countries and the world, Chinese officials said.   ...

Newly appointed Minister of Commerce Pan Sorasak issued a shot across the bow yesterday at individuals and companies that infringe on the intellectual property of other firms, warning his ministry was ready to take action against violators. ...

The World Bank on Monday said it still predicted strong growth from the Cambodian economy—led by garment exports—and only a moderate cooling over the next few years despite a “faster than expected” slowdown in China, Cambodia’s biggest foreign investor.   ...

Demand for seafood throughout the Kingdom has slowed as a result of warnings issued by Prime Minister Hun Sen and the Ministry of Environment to avoid coastal seafood consumption this past weekend, due to a massive algal bloom off the coast of Kep province. ...

Prince Finance Plc is moving to support the efforts of the National Bank of Cambodia (NBC) to promote the use of the riel by using the domestic currency in all transactions, fees, loans and staff salaries, the microfinance institution’s managing director, Hon Sorachana, told a ...

The president of the Cambodia Rice Federation (CRF) has asked the government for an emergency loan of $20 million to $30 million, saying it is necessary to prevent the collapse of the rice sector. ...