Ministry of Economy and Finance

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 ...

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. ...

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. ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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. ...

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 ...

A construction team composed of 200 workers from China has arrived in the Kingdom to begin work on an expressway that will connect Phnom Penh and Sihanoukville, with the groundbreaking ceremony expected before the end of March. ...

Government officials and private sector leaders on Friday reiterated their calls for all small and medium-sized enterprises to join the regulatory fold. Public officials and representatives of employers’ organisations assured business owners that the recently announced tax incentives are not a “trap” and that registering ...

The recent gains in the global price of oil will not affect plans for the development of the Apsara oilfield, according to a representative of the company that holds the rights to the area. ...

Cambodia and China yesterday signed three agreements on mine clearing, a transportation master plan and renovation of the Royal Palace building in Siem Reap province. The signings came amid the launch of a big finance project to improve education in Cambodia. ...

The government yesterday released sub-decree No 72 to enhance efficiency and transparency in the management of non-tax revenue. The new regulation sets the mechanism to be followed when collecting, recording and monitoring non-tax revenue, including income collected from ministries, public institutions, province-level administration and state ...

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 ...