Ministries and other national bodies
Ministry of Economy and Finance
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/
Road tax on vehicles gears up next month
The General Department of Taxation (GDT) has announced that the window for paying vehicle tax will be from next month until November. The deadline for paying not later than Nov 30 or vehicle owners will face a penalty charge. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50727329/road-tax-on-vehicles-gears-up-next-month/
Etiqa Insurance to get foothold in nation
Cambodia’s Ministry of Economy and Finance has granted a business licence to Etiqa Insurance & Takaful, a leading insurance provider in Malaysia, paving the way for the firm to tap into the Kingdom’s nascent insurance market, the company announced. ...
Chhut Bunthoeu
https://www.khmertimeskh.com/50726930/etiqa-insurance-to-get-foothold-in-nation/
Tax breaks to boost securities sector
The Ministry of Economy and Finance issued an announcement on the implementation of guidelines on withholding tax for investors in the securities sector to promote the development of stocks in the Kingdom. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50723348/tax-breaks-to-boost-securities-sector/
No loans from $100 million financing scheme
The government’s new $100 million Small and Medium Enterprise Co-Financing Scheme has yet to approve any applications, receiving only some ínquiries pending approval, according to a bank representative. ...
Sok Chan
https://www.khmertimeskh.com/50719826/no-loans-from-100-million-financing-scheme/
EU offers grant for Kingdom’s Covid-19 fight
EU Ambassador to Cambodia Carmen Moreno applauded the country’s efforts to control the Covid-19 crisis and said the EU is transferring a €56 million ($66.7 million) grant to help restore the economy, said a Ministry of Economy and Finance press release. ...
Niem Chheng
https://www.phnompenhpost.com/national/eu-offers-grant-kingdoms-covid-19-fight
Gov’t adhoc group to aid poor
The Ministry of Economy and Finance has created an adhoc working group to manage social support mechanisms to help impoverished people and marginalised groups during the fight against Covid-19. ...
Long Kimmarita
https://www.phnompenhpost.com/national/govt-adhoc-group-aid-poor
De-dollarisation is ultimate goal of the Royal Government
A question and answer session with Deputy Prime Minister and Minister of Economy and Finance Dr Aun Pornmoniroth in conjunction with the 40th anniversary celebrations of the reintroduction of the riel. ...
New tax rates announced for businesses and employees
The Ministry of Economy and Finance has revised the tax rates for all business owners and employees in Cambodia. Employers were instructed to deduct employee taxes according to the new rates from February onwards. Taxpayers have to submit the tax declaration by the 20th of ...
Voun Dara
https://www.phnompenhpost.com/national/new-tax-rates-announced-businesses-and-employees
Government pledges $2billion fund for economy
The government has announced they have prepared an emergency reserve fund of between $800million and $2billion to aid the Kingdom’s economic recovery in the wake of the COVID-19 outbreak. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50700267/government-pledges-2billion-fund-for-economy
$400 million to fight COVID-19
The Finance Ministry today reported the government has accumulated approximately $400 million in savings to be used during COVID-19 emergency cases in the Kingdom. ...
Sun Mesa
https://www.khmertimeskh.com/50699477/400-million-to-fight-covid-19