On 6 March 2015, Cambodian government approved the Cambodian Industrial Development Policy 2015 – 2025 (the "IDP"). The IDP is adopted as a guide to promote the country’s industrial development that will help maintain sustainable and inclusive high economic growth through economic diversification, strengthening competitiveness and promotion of productivity.
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Prakas No. 005/15 SECC/P on Public Issuance of Equity Securities was adopted on 10 September 2015 to substitute Prakas No. 001/SECC/P dated 15 January 2010. The purpose of the new Prakas is to prescribe the procedure, mechanism, and approval for the issuance of equity securities in Cambodia pursuant to the Law on Issuance and Trading of Public Securities and the Sub-Decree on the implementation of the Law on Issuance and Trading of Public Securities. In contrast with Prakas No. 001/SECC/P, there have been some changes in relation to requirements of equity securities offerings, content and information in Disclosure Documents, documents attached to the application, and the fees related to the submission, registration, and extension of expiration of disclosure documents.
On 10 September 2015, Prakas No. 006/15 SECC/P on Implementation of Listing Rules was issued to replace Prakas No. 004/11 SECC/P dated 3 May 2011 and Prakas No. 001/12-1 SECC/P dated 17 April 2012. These Listing Rules were adopted to determine the principles necessary for the listing process in the Cambodia Securities Exchange in accordance with the Law on Issuance and Trading of Public Securities and other relevant regulations. The following are the contents of the Listing Rules:
- Requirements and Procedures for Listing Eligibility Review;
- Listing Requirements and Procedures;
- Conditions and Procedures of Official Delisting;
- Supervision of Listed Securities; and
- Listing Fee.
On 8 September 2015, the General Department of Taxation ("GDT") issued Notification No. 6682 GDT, which serves as a reminder about immoveable property tax payment for the year 2015. Immoveable property tax collection started at the beginning of 2015 and will end by 30 September 2015. This property tax collection is based on Article 9(2) of the Prakas No. 493 MEF.BrK, dated 19 July 2010, on Immoveable Property Tax Collection.
On 12 August 2015, the Law on Associations and Non-Governmental Organizations ("LANG") was promulgated by virtue of Royal Kram No. NS/RK/0815/010. LANG provides for two types of associations and non-governmental organisations: (i) local association or LNGO; and (ii) international association or INGO, and also sets out the registration procedure and general compliance obligations.
On 6 August 2015, the Royal Government of Cambodia issued Instructive Circular No. 07IC ("Circular") on the recognition of the exclusive rights for mark usage. The Circular requires the Ministry of Commerce ("MOC") to issue a Prakas to determine the detailed procedure on the recording and filing of power of attorney for importing goods tagged with exclusive rights.
The Circular also provides that certain goods, such as those imported for non-commercial purposes or for the purposes of local development, as well as duty free goods, shall not be governed by the provisions on the implementation of the recording and filing of power of attorney for importing goods tagged with exclusive rights.
On 24 July 2015, the Royal Government of Cambodia has adopted Sub-Decree No. 98 SD.BK on the management of the river basin. The competent National, Capital and Provincial Committees have been established. The policy, master plan and measures are set to achieve the effectiveness and sustainability of the development of the river basin.
On 22 July 2015, the Royal Government of Cambodia adopted Sub-Decree No. 94 SD.BK on the conditions and procedures to request for the corporation licenses in the road infrastructure sector. This Sub-Decree aims to raise the quality of the construction, renovation and conservation. The Ministry of Public Works and Transport has been mandated to issue such corporation licenses.
On 23 June 2015, the Ministry of Economy and Finance issued Prakas No. 682 MEF.P on the establishment and management of the Department of Large Taxpayers. This Prakas aims to establish the structure of the office of the Department, organize the roles and duties, and guarantee the quality and effectiveness of large tax collection.
