The Ministry of Commerce issued Prakas No. 290 dated 9 October 2020 on the Issuance of Permit or License for E-Commerce (“Prakas”). This follows the issuance of Sub-Decree No. 134 dated 27 August 2020 on Determination of Type, Formality and Procedure of the Issuance of Permit or Licence for Intermediaries and Online Services Providers via Electronic Platform and Its Exception. The Prakas sets out the process and formalities required for the issuance, extension and amendment of information on the Permit or Licence for E-Commerce.
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.