AmCham In The News

CDC improves QIP application process for foreign investors
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Sun Chanthol, Deputy Prime Minister and First Vice President of the CDC, noted during a meeting with a delegation from the American Chamber of Commerce in Cambodia (AmCham Cambodia) last week, that the CDC’s improvements of the technology surrounding the QIP registration system will better facilitate US and other international investors to apply for potentially-qualified investment projects in the Kingdom from their home nations, removing physical barriers for QIP applications.
AmCham Cambodia to strengthen and expand cooperation with Royal Government
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The American Chamber of Commerce in Cambodia (AmCham Cambodia) is committed to further strengthening and expanding its cooperation with the Royal Government of Cambodia. The commitment was made known here at the Peace Palace yesterday when Dr. Hun Manet, Prime Minister of Cambodia, received Devin Barta, President of AmCham Cambodia, and his colleagues.
Cambodia’s Trust sector attracts $1.27B, on fast growth since 2021
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Cambodia’s relatively new Trust market is growing fast and has so far attracted investments worth $1.27 billion, according to Sok Dara, Director General of the Trust Regulator, yesterday.Addressing a seminar on ‘Emerging Business Opportunities in the Trust Sector,’ organised by the Law Committee of the American Chamber of Commerce (AmCham), the Director General said that the number of Trusts registered has reached 810 since the Trust Regulator (TR) was established in 2021.
GDT Engages with Cambodia’s Leading Business Chambers on Pressing Taxation Concerns
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In a move that underscores the commitment to fostering improved relations between Cambodia’s public and private sectors, the General Department of Taxation (GDT) of the Ministry of Economy and Finance recently convened with prominent representatives from the American Chamber of Commerce in Cambodia (AmCham) and the European Chamber of Commerce in Cambodia (EuroCham) on 5th October 2023.
GDT eyes over $4 billion in tax revenue next year, says Vibol
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The General Department of Taxation (GDT) is targeting $4.162 billion in 2024, which is a 20 percent increase from the target set for the current year, according to Kong Vibol, Minister Attached to the Prime Minister and Delegate of the Royal Government In-Charge as Director-General of the GDT. Addressing the AmCham’s Tax Forum organised by AmCham Cambodia under the theme ‘Understanding the New Tax Updates and Solving Common Tax Issues’ at Raffles Hotel Le Royal yesterday Vibol said, “During the current year, the GDT has been able to accomplish 93.71 percent of the set target in the January-November period (11 months) despite speculations about the economic downturn. The GDT continues to play a key role in collecting taxes since ensuring social equity is one of the key principles of taxation.”
AmCham honours CSR efforts with awards
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Companies that made significant impacts with their Corporate Social Responsibility (CSR) programmes in Cambodia were honoured with awards by the American Chamber of Commerce (AmCham) on Wednesday night. At the CSR Excellence Awards Dinner, held at Fairfield by Marriott Phnom Penh, some 36 companies vied for the awards in five different categories — Social Impact, Digital Inclusion, Financial Literacy, Law (for pro-bono work) and Education. Gracing the occasion was Patrick Murphy, the US Ambassador to Cambodia, who in his keynote address, praised AmCham for its efforts to support the CSR initiatives from the private sector in Cambodia. “The American Embassy is happy to coordinate with AmCham in these initiatives,” he said.