Looking Back: 2020
The COVID-19 pandemic has undoubtedly affected and changed the way we perform work and conduct business transactions. In 2020, the Royal Government of Cambodia ("RGC") has issued several regulations and granted tax exemptions to mitigate the public health and economic consequences of the pandemic.
Meanwhile, the RGC still continues to work on the regulatory developments regardless of the COVID-19 pandemic implications. Some of the key developments involve the evolvement toward E-Government such as putting in place online platforms for business registration and/or approval, the adoption of regulations that strengthen the licensing requirements for telecommunications business operations, and the enactment of the law on commercial gambling.
Gazing Into: 2021
The new draft Law on Investment has been prepared and is aimed to be adopted in 2021. The draft law will further address RGC’s international obligations towards investors by way of multilateral and bilateral agreements (which contain provisions on national treatment, most-favoured nation treatment, and investment guarantee), rights and obligations of investors, the strengthening of the one window services (i.e. elimination of approval processes, reduction of registration time, putting in place online platforms), the determination of the industries subject to incentives, and real tax incentives and additional investment incentives.
In addition, the following draft laws are in the pipeline:
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Draft law on commercial contract;
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Draft law on cybercrime; and
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Draft law on competition.
Full Report
Click on the link below for the full report which provides summaries of the key legal and case law developments related to the above areas:
