Government reveals new budget reform strategy
Prime Minister Hun Sen on Friday announced the government’s new strategy for budget reform aimed at enhancing the sound management of public funds. Dubbed ‘Budget system reform programme for 2018-2025’, the new blueprint for the country’s budgetary policy was presented to the public during the ...
Early data show decline in garment sector growth
The labour minister said on Monday that Cambodia’s garment sector grew by 4 percent last year to reach $7.6 billion, which would mark a slowdown in the growth rate compared to previous years. ...
India loan signed to fund dam in Kampong Speu
India’s state-owned Export-Import Bank agreed to loan $36.92 million to the Cambodian government to fund the development of a dam and reservoir in Kampong Speu province. ...
Tax exemption offered to SMEs
A two-year income tax exemption is being offered to small and medium-sized enterprises that register with the Ministry of Economy and Finance before the end of 2018. ...
Slowdown in services sector
A slow growth in tourism, and a slowdown in the logistics and real estate sectors could cumulatively have a knock-on effect that will threaten the overall growth of the country’s services sector, a report from the Ministry of Economy and Finance said yesterday. ...
Kingdom’s economy insulated: officials
Speakers at a government forum held yesterday on macroeconomic management and the 2017 budget law said Cambodia’s strong economic growth has been largely unscathed by China’s slowdown, though clouds were forming on the horizon. ...
$30B casino, theme park project mooted
MQ Technology Bhd, a Malaysian investment holding company, is looking to form a joint venture with a newly formed entity, Cambodian Resorts and Entertainment Co Ltd, to build a $30 million casino and theme park in Prey Veng province near the Vietnamese border, according to ...
Budget backed without support
Members of the ruling Cambodian People’s Party voted in the National Assembly yesterday to back a 2017 national budget that outlines spending of $5 billion, but opposition Cambodia National Rescue Party (CNRP) members refused to give it their support. ...
Another setback for online business registry
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 ...
ADB to muscle up its lending with pledge of $1B
Cambodia could receive over $1 billion in developmental aid and grant funding from the Asian Development Bank (ADB) in the coming four years as the multilateral financial institution consolidates its lending arms and scales up operations across the region – a move that some analysts ...
MFIs watch rice loans
The country’s financial institutions are closely monitoring loans that have been made to rice farmers, who say that this year’s fall in rice prices will affect their ability to make repayments, industry officials said yesterday. Last year, farmers were paid around 840 riel ($0.21) per kilogram ...
Rice millers can now get $20 mil
Rice millers in the country will now be able to access the government’s promised emergency loan of $20 million to purchase paddy rice from farmers in a bid to prevent rice prices from falling further, the Rural Development Bank (RDB) announced yesterday. Rural Development Bank CEO ...
Nagaworld reaches tax deal
NagaWorld, a subsidiary of a Hong Kong-listed NagaCorp, reached a deal with the Ministry of Economy and Finance to pay a new tax rate on their non-gaming operations, said a ministry official. ...
Joint online tax system
The Ministry of Commerce and the Ministry of Economy and Finance’s general taxation department plan to jointly operate an online business tax registration system in a bid to strengthen tax collection in the country and root out corruption. Sok Sopheak, under-secretary of state of the Ministry ...
FDI inflow seen as driving economic development
A modest increase in the inflow of foreign direct investment is a sign that Cambodia remains an attractive destination to investors, and will go a long way toward the country’s development, analysts said yesterday. Total capital inflow of foreign direct investment (FDI) to Cambodia amounted to ...
Drink a beer to save the planet
As a way to possibly boost funding for environmental protection in the Kingdom, Prime Minister Hun Sen yesterday floated the idea of an extra tax on cigarettes and alcohol. Speaking at a forum on the protection and conservation of natural resources in Phnom Penh, the prime ...
Regulators keeping a close eye on derivatives market
Cambodia’s capital market regulator held a forum yesterday on regulations and safeguards for the derivatives market, laying out the inherent risk and reward of the poorly understood financial instrument that has until recently operated with no oversight. ...
Loan for silos in limbo
There seems to be no definite period of when a $300 million loan from the Chinese government, to build large silos to store rice for milling, will be disbursed to the Cambodian government. ...
Exports to US rise over 9 percent last year
With the American economy expanding, Cambodia’s total export to the country increased slightly more than 9 per cent last year over 2014, the latest US trade data shows. ...
Minister of Economy and Finance talks 2016 budget
The National Assembly passed the government’s $4.3 billion budget for 2016 this week, which includes a plan to take on nearly $1 billion in foreign debt. The Post’s Siv Meng sat down with Aun Porn Moniroth, Minister of Economy and Finance, to discuss the revenue ...