Legal Updates for October 2020

Sub-decree on the Establishment of Credit Guarantee Corporation of 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.

Shorter Validity Period For Company Name Reservation in the Single Portal

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.