Meeting with the Ministry of Economy and Finance

Mr. CHHEAV Narath, Managing Director ING LAW and CoGen Consulting Group, EuroCham Board Member and Chairman of the Human Resources Committee attended the meeting with the Ministry of Economy and Finance on October 25, 2023.

Day 2 began with Secretary of State H.E. Ros Seilava and his delegation meeting at the Ministry of Economy and Finance. A number of issues were brought up, such as the need to crack down on illegal and counterfeit goods and cigarettes, as well as taxation and the high cost of energy, which is preventing more foreign investment. Increased taxes on specific goods, like those sold online, were also mentioned as a deterrent to more business.

External pressures will make it difficult for Cambodia to sustain its recent historic growth curve, but both sides were willing to work together to keep things moving in the right direction. A multifaceted strategic vision centered on economic diversification, regional connectivity, private sector collaboration, sustainability, and digitization was unveiled, along with incentives to help support the shift to green energy. Representatives from the health sector also indicated their desire to offer guidance and support regarding the NSSF.

Source: EuroCham Cambodia's Website