Economy and Finance
Property-based tax revenue more than doubles in 2019
Stamp duty and property rental tax revenue for 2019 increased more than 111%, compared to 2018, according to a report by the General Department of Taxation. According to a statement released on 21 January, the General Department of Taxation in 2019 collected total tax revenue of more than US$2.8 billion, exceeding the initial plan by […]
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Ministries vow to resolve stamp tax jam
The Ministry of Economy & Finance and the Ministry of Land Management, Urban Planning and Construction have agreed to resolve the slow process of land title transfers and registration under the zero-percent stamp tax category, following more than 13,000 documents having been stuck at the tax administration. According to a press release from the General […]
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Mine Exploration License Opens for Public Bidding
Ministry of Mines and Energy announced it opens for application for public bidding on the mine exploration licenses in eight areas. According to announcement dated on January 10, the eight areas cover cumulatively 1,390 square km in provinces of Stung Treng, Preah Vihear, Kompong Thom, Siem Reap, and Mondulkiri. The ministry stated local and international […]
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Cambodia’s economic growth expected to reach 7% in 2020
Cambodia’s economic growth is projected to reach around 7% by 2020 due to growth in exports, foreign investment inflows, tourism, and construction and real estate, sectors which are expected to enjoy continued growth. In a macroeconomic and banking progress outlook for 2019 and 2020 released on 02 January, the National Bank of Cambodia projects that […]
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Foreign condo transfers rise again in Thailand
Foreign condominium purchase transfers in Thailand showed a 1.8% year-on-year rise in the first three quarters of 2019 with Chinese investors leading the way accounting for almost 58% of all transfers. The majority of the transfers were the result of off-plan purchases made over one year ago and the rise in transfers reflects the strong […]
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Construction projects increase by 55% in 2019
4,446 projects construction projects were approved in 2019, a 55% increase compared to 2018, while investment totalled US$9.3 billion, representing a year-on-year increase of 78%. The annual report from the Ministry of Land Management, Urban Planning, and Construction showed that construction projects nationwide were built over 18.5 million square metres, a 62% increase compared to […]
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Land Management Ministry to collect revenue from electronic cadastral information service
The Ministry of Land Management, Urban Planning and Construction will collect revenue from an electronic-based cadastral information service, for which the revenue will be registered as income for the national budget. According to the inter-ministry prakas on providing electronic-based cadastral information service dated on 24 December, the procedure for collecting income will be announced later […]
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Premier Hun Sen pushes for more SEZs along border
The Head of the Royal Government of Cambodia has pushed for the establishment of more special economic zones on the border with Vietnam in order to attract more investment from Vietnam in Cambodia. The establishment of SEZs has been pushed after Cambodia has already established special economic zones in Bavet town Svay Rieng province and […]
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Poipet PPSEZ Opens Officially
The Poipet PP Special Economic Zone (Poipet PPSEZ), a wholly-owned subsidiary of the Phnom Penh Special Economic Zone, was officially opened for operation on 9 December in Poipet city, Banteay Meanchey province. The launch ceremony was held at the same time as the official opening of Japanese firm Sumitronics which has invested in the zone. […]
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Government official, winners of SCG contractor competition 2019 call on young people to consider skills training
Phnom Penh, Nov 28, 2019 – Expert official and award-winning local builders from the annual SCG contractor competition 2019 have encouraged young people to pursue technical and vocational training for skills currently on high demand in the job market, including in construction sector. Mr. Hing Sideth, director general of TVET general department of the ministry […]
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