Money sent back by Cambodian migrant workers in 2020 is projected to decline to $1.4 billion because of COVID-19, according to a World Bank report. The report, called “Migration and Development Brief Phase II”, released on Thursday, shows formal remittances to East Asia and the Pacific region are projected to fall by 10.5 percent in […]
Read MoreAt a time when many small and medium enterprises (SMEs) across Cambodia are either closing down or struggling to remain open, Kampot remains positive as more local investment keeps the coastal town booming. Multiple new businesses are popping up around the town of Kampot, ranging from bars, restaurants, guesthouses and even adventure tour companies. However, […]
Read MoreCambodia exported 209,819 tons of dry rubber in the first nine months of 2020, up 21 percent compared to the same period last year, said a General Directorate of Rubber report. The kingdom earned gross revenue of $271 million from exports of the commodity during the January-September period this year, up 17 percent over the […]
Read MoreProperty insiders have welcomed the General Department of Taxations (GDT) decision to delay the enactment of “prakas 346” (the 20 percent capital gains tax on individuals) until 2022 just two weeks after it was approved by the Prime Minister on Oct 9. After its approval earlier this month, the industry had been preparing for the […]
Read MoreCambodia officially launched on Wednesday a central bank-backed digital currency that draws on blockchain technology designed by a Japanese company. The e-money “Bakong”, an initiative of the National Bank of Cambodia, joins a very small group of digital currencies backed by central banks that have gone fully operational. Bakong, which supports transactions in the dollar […]
Read MoreThe Cambodian government has revised its target for year-on-year fiscal revenue growth to 0.3 percent of gross domestic product (GDP), down from the planned 0.5 percent increases as outlined in the original Revenue Mobilisation Strategy 2019-2023. The revised figure means the government’s fiscal revenue target will be 18 percent of GDP for the 2021 tax […]
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