Stay up to date with legal developments in Cambodia.
On 1 September 2020, the Sub-decree on the Establishment of Credit Guarantee Corporation of Cambodia (“Sub-decree”) was issued. The Sub-decree established the Credit Guarantee Corporation of Cambodia (“CGCC”), which is mandated to provide professional credit guarantee in accordance with international standards. CGCC is set up to tackle the challenges faced by business entities in the credit market and to enhance financial inclusion.
On 1 October 2020, the Ministry of Commerce issued Notification No. 2963 on the Reservation of Company Name reducing the validity period of company name reservation from three months to two weeks. The company name reservation can be renewed once for another two weeks.
To implement the regulations in the telecommunications sector more effectively, the Telecommunication Regulator of Cambodia ("TRC") issued guideline No. 1606 dated 12 August 2020 on Strengthening Measures for Enforcement of the Law on Telecommunications ("Guideline"). The Guideline requires the telecommunication operators to comply with certain obligations such as timely self-declaration and payment of licence fees (allocated revenue), and contributing certain percentages of their gross annual revenue to prescribed funds.