Ministry of Economy and Finance

Representatives of Cambodia’s rice sector and the Ministry of Economy and Finance (MEF) met yesterday with the International Fund for Agricultural Development (IFAD) to discuss the implementation of a five-year program to promote the Kingdom’s agricultural products. ...

Banteay Meanchey provincial authorities have warned they will take legal action against those who continue to interfere in railway construction between Phsar Kandal commune and Poipet City by today’s deadline. ...

The government sold off more than 10,000 cubic meters of illegally logged wood in direct negotiations with private businessmen over the past two days, according to a Finance Ministry official, after abandoning efforts to auction it off due to a lack of interest. ...

The government has given up on trying to auction off the majority of 71,000 cubic meters of illegally logged timber seized by authorities earlier this year amid a persistent lack of interest from potential buyers. រដ្ឋាភិបាលបានបញ្ឈប់ការព្យាយាមលក់ដេញថ្លៃចំពោះឈើភាគច្រើននៃចំនួនសរុប ៧១ ០០០ ម៉ែត្រគូប ដែលបានមកពីការរឹបអូសដោយអាជ្ញាធរកាលពីដើមឆ្នាំនេះ ខណៈពេលដែលមានកង្វះខាតនៃចំណាប់អារម្មណ៍ពីអ្នកទិញ។  ...

Cambodia’s tax department collected $829 million in tax revenue during the first half of the year, 18 per cent more than during the same period a year earlier, led by surge in profit-tax revenue, according to government data released late on Tuesday.    ...

The Finance Ministry has rescheduled a trio of timber auctions that had been set to start today after a continued lack of interest from buyers, although bidding for a lot in Stung Treng province will go ahead on Wednesday as planned.   ...

In his speech to commemorate the 65th anniversary of the Customs and Excise Department, he said the proposal to privatize the collection of customs and excise duties was politically motivated to put pressure on the government.   ...

The Ministry of Economy and Finance announced on Monday that the government will block all illegal rice imports at its borders and limit legal rice shipments from Vietnam based on production cost. ...

Slashing unnecessary spending by ministries will allow the government to guarantee a monthly minimum wage of $250 for civil servants in time for the 2018 national election, a secretary of state at the Finance Ministry said on Tuesday.   ...

The government’s tax revenue collection rose to about 21.6 percent in the first five months of this year, compared with the same period last year, with some $708.2 million filling state coffers, according to the Ministry of Economy and Finance’s General Department of Taxation (GDT). ...

Officials have started to assess properties in Oddar Meanchey that will be flooded by an under construction dam, though the affected villagers remain in the dark about possible compensation. ...

The Ministry of Economy and Finance has announced the date of the auction for timber confiscated from logging companies by the National Anti-Deforestation Committee (NADC) earlier this year, inadvertently releasing the official names of seven previously unknown companies caught housing illegally logged wood. ...

Banks and financial institutions are urged to provide more support to small and medium enterprises (SMEs), especially those owned by women, as access to capital remains a major obstacle for their growth. ...

As Cambodia continues its battle against raging thunderstorms and stifling droughts, officials from a variety of ministries attended a three-day workshop last week on how to incorporate the wide-ranging effects of climate change into the national and provincial budgeting process.   ...

USAID and the US Treasury Office of Technical Assistance (OTA) have launched a joint initiative with the Ministry of Economy and Finance (MEF) to improve fiscal transparency and accountability in the management of public finances, according to a press release issued yesterday.   ...

Cambodia is hosting the two-day 19th ASEAN Valuers Association (AVA) Congress, the first time it has been held in the Kingdom. ...

Revenue from customs duties and excise tax grew by around 30 per cent to $472 million during the first quarter of the year ...

The Ministry of Economy and Finance (MEF) has denied media reports the government will issue dollar-denominated sovereign bonds using Bangkok-based Twin Pine Consulting as advisers to raise more money and reduce reliance on foreign loans. ...

Korea will provide a $13.3 million concessional loan to renovate the Stung Siem Reap Phase II flood mitigation project after a deal signed yesterday between the Ministry of Economy and Finance and the Korea Export and Import Bank. ...

On Monday, Prime Minister Hun Sen announced a new phase of the Public Financial Management Reform Program, a donor-assisted initiative established in 2004 to bolster the country’s ability to soundly manage its budget. In a speech at the launch event, he touted the government’s progress ...

The government will increase the special tax on alcohol and cigarettes produced locally, with the implementation of the new tax to be effective from April 1, a move that has concerned producers. ...

The National Police have sent a proposal letter to Interior Minister Sar Kheng, asking him to stop customs officials from fining or confiscating vehicles with police license plates after five police vehicles were stopped and forced to pay an import tax last year, causing an ...

Prime Minister Hun Sen told a summit on micro-finance development yesterday that stricter rules needed to be applied to organizations and institutions lending money as many people were being cheated, embezzled and losing their collateral to unscrupulous lenders. ...

Prime Minister Hun Sen yesterday said the government is now paying almost all civil servants’ salaries and collecting taxes using technology, rather than relying on officials to handle cash, which reduces corruption. ...