[:km]By Siv Meng
Phnom Penh: A senior official of the Cambodia Chamber of Commerce expressed appreciation for the Royal Government’s policy of reducing the relevant institutions and implementing various procedures, which will help accelerate the private sector and provide more convenient, especially attract more investors.
Okhna Lim Heng, vice president of CCC, said at the meeting of the Legal and Corporate Governance Tax and Governance Working Group Meeting of Government Forum in the morning of January 30, 2019 that, of course, relevant institutions and other enforcement procedures is the cause the loss of state revenue, and it has joined the largest contribution in the private sector and helps accelerate, provide easiness, and especially attract domestic and foreign investors.
“The meeting today has got a great result, so what the appreciation is that the government has put in place a number of policies that are part of helping the private sector to make a living, regardless of whether you are foreign or domestic investor,” Okhna Lim Heng said. In this regard, he said it is the best news for the private sector.
Deputy Prime Minister, Minister of Economy and Finance, Dr. Aun Porn Moniroth, said recently Samdech Techo Prime Minister has laid out a plan in the past and in the present, reforming two major parts to make friend inside and outside countries to strengthen Cambodia’s competitiveness as a way to promote and facilitate the ongoing practice.
He said that Samdech Techo’s measures include reducing electricity costs, canceling CO issuance for the country, cutting the role of the General Department of Camcontrol, cancellation of the KAMSAB Unit, solving private sector concerns and the introduction of the Ministry of Economy and Finance to The General Department of Taxation on the Online System for the Management of VAT. For the above procedures, the Royal Government has been implementing and preparing, in addition to the reforms that have been implemented, and subsequent adjustments.[:]
