Cambodia and France continue work on Double Taxation Agreement |
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GDT Officials of the Ministry of Economy and Finance holding a virtual meeting with French counterparts in Phnom Penh, on Friday, January 3. Photo courtesy: Khmer Times |
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Cambodia and France look to strengthen trade ties through a double tax agreement.
The General Department of Taxation (GDT) of Cambodia and France’s Ministry of Finance have concluded the third round of discussions on a potential Double Taxation Agreement (DTA) between the two countries. The talks, conducted via video conference, were co-chaired by officials from both sides, who expressed a strong commitment to expediting negotiations for the DTA.
Cambodia is actively negotiating DTAs with several countries to strengthen its investment climate by reducing double taxation and boosting cross-border trade. The country already has agreements with nations such as Singapore, China, and Thailand. France, one of Cambodia's largest trade and investment partners in Europe, plays a key role in this strategy.
Many French companies, ranging from multinational enterprises like Vinci and Total Energies to small and medium-sized businesses, have established operations in Cambodia. In 2024, bilateral trade between Cambodia and France reached $467 million. This robust trade relationship underscores the importance of the DTA in further enhancing economic ties between the two nations. |
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Vietnam amends power development plan to support rooftop solar |
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Workers install solar panels. Photo courtesy: Tien Phong (Vanguard) newspaper |
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Rooftop solar and renewable energy in focus for government of Vietnam.
Vietnam’s Ministry of Industry and Trade is drafting amendments to the Power Development Plan VIII (PDP VIII), focusing on expanding rooftop solar (RTS) power, alongside LNG-fired power and waste-to-energy projects. The amendments aim to further promote rooftop solar power – particularly in industrial parks – in line with the recent Decree 135/2024, which allows operators utilising RTS systems producing 1,000kW and more to sell excess electricity to Vietnam Electricity (EVN) at the average rate of the previous year.
The amendments also include drafting terms to support the rapid growth of rooftop solar installations. Additionally, the ministry plans to increase floating solar projects, prioritising hydropower reservoirs with available grid connections. The amendments reflect a commitment to enhance solar energy alongside other renewable sources. |
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Ministry of Commerce developing FTA portal |
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A digital portal for FTAs could increase the impact of these international trade agreements. |
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Digital portal for FTAs hoped to streamline business processes and improve trade.
The Cambodian Ministry of Commerce is developing an FTA portal to assist businesses in navigating and benefiting from the country's various free trade agreements (FTAs). This online platform will provide crucial information such as rules of origin, export registration procedures, and access to certificates of origin. The development of the FTA portal aligns with the government's efforts to modernise public services through automation, enhance trade relations, and become key player in regional logistics.
Cambodia currently benefits from FTAs with countries like China, South Korea, the UAE, and through the Regional Comprehensive Economic Partnership (RCEP). These agreements play a significant role in boosting Cambodia's exports and attracting foreign investment and the development of the FTA portal would further expand their positive economic impact.
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We have been informed that a number of individuals in our network have received emails claiming to be from EuroCham representatives. Please pay special attention to emails claiming to sell EuroCham's contact list, as these scams have been specifically reported.
All official emails from EuroCham will be sent from the “@eurocham-cambodia.org” domain. Do not reply to emails claiming to be EuroCham from other domains. |
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"The launch of the bi-annual Cambodia-Europe Public Private Sector Dialogue at the Council for the Development of Cambodia in September 2024 has already yielded tangible progress" |
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Executive Director Martin Brisson at EuroCham offices in Phnom Penh. |
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This week Senior Communications Officer Stew Post sat down with EuroCham Executive Director Martin Brisson. With extensive experience in the Cambodian business community – Mr. Brisson served as Executive Director of the French Chamber of Commerce and Industry (CCIFC) for 3.5 years – he is responsible for the day-to-day operations of the European Chamber.
Their conversation touched on 2024's achievements in advocacy, networking and membership as well as looking forward to the new year, including the upcoming Annual General Meeting in March.
Follow the link below to read the full interview.
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On November 6th, Cambodia's Garment, Footwear, and Textile (GFT) sector reached a record export value of $13.74 billion, with growth driven by HS codes 61, 62, and 42. The sector saw 23.8% growth, fuelled by stable global garment demand and factors such as geopolitical shifts and de-risking from China, Bangladesh, and Myanmar. Cambodia's competitiveness, particularly in sustainability and factory improvements, also contributed to this growth.
The US remains the largest market, with a 38% increase in exports, while Spain surpassed Germany as the top European market. Looking ahead to 2025, early signs are positive, with a 33.6% rise in raw material imports, suggesting continued growth and value-added production. |
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Bumrungrad Health Briefs #52: Accuracy Matters: The importance of Precise diagnostics When it comes to your health, precision is everything. A health check-up isn’t just a routine task; it’s a vital opportunity to uncover potential issues early and take proactive steps toward better health. At Bumrungrad International Hospital, we understand the profound importance of accurate diagnostics, which is why we’ve built our reputation on delivering precise, reliable results that you can trust. What sets Bumrungrad apart is our unwavering commitment to excellence. Our hospital meets the highest international standards, with accreditations from the Joint Commission International (JCI), the College of American Pathologists (CAP), and the International Organisation for Standardisation (ISO). |
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EuroCham statement regarding the Ministry of Mines and Energy's revised regulations on REC & RTS |
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The Cambodian Ministry of Mines and Energy in January issued revisions to regulations published in April 2024 regarding the use of rooftop solar systems (RTS) as well as its intentions to launch a renewable energy credit (REC) system. RTS Fees The published RTS compensation charge to be paid by private operators installing RTS systems – starting from 3.7 c/kWh up to 6.7c/kWh – is high and might disincentivise the installation and use of privately owned Solar Power Generation sources in commercial, industrial and large residential applications. Solar energy is produced at a cost of 3.8c/kWh, significantly below the commercial cost of 13.7c/kWh paid by factories. A compensation tariff should ideally reflect the cost of maintaining the grid and the integration of RE sources into it. High charges act as a barrier to private investment in RTS and prevent the broader adoption of RE technologies, especially in industrial and commercial ventures.
EuroCham is also concerned regarding competition and unfair market advantage. Setting the compensation charges at such a high level will discourage private investment and could be seen as anti-competitive and designed to protect Électricité du Cambodge’s market dominance. Cambodia’s Law on Competition was enacted to prevent actions that distort market competition, even if undertaken by a government-owned company. REC System Aside from a clear potential for “greenwashing,” EuroCham sees the potential for the use of RECs to create an imbalance in reporting. As wealthy companies and corporations buy RECs, they will claim the environmental benefits while the carbon footprint of electricity consumed by the general public and other businesses, who rely on the same grid and energy mix, appears higher as their energy consumption is now largely associated with fossil fuel generation, in stern contrast with the principle of fairness.
Consequently, large companies might purchase RECs to reduce their perceived carbon footprint, while smaller operators, schools, hospitals, small establishments etc. are forced to rely on fossil fuel-generated electricity.
Another challenge regarding the new REC scheme regards the revenues generated by the Government Authority, which should be re-invested fully in RE. A question of fairness RTS compensation fees were proposed to “equal the playing field”, ensuring that large operators with the capital to invest in RTS are not the only businesses able to take advantage of the reduced cost of solar energy.
However, this fairness argument against RTS falls flat when viewed alongside the proposed REC system. REC’s give big corporations an unfair advantage over small businesses in that they can simply purchase the perceived benefits of RE initiatives without implementing them, and without investing into RTS. At the same time, smaller companies looking to embrace RE are unable to claim cleaner energy in their operations as RECs absorb the larger share of available RE.
EuroCham stands with the RGC in its efforts to transition the Kingdom to RE, however, proposed structures are running counter to these important goals. The Chamber will continue to work with the RGC and is assembling a series of recommendations through its Sectorial Committees on both the RTS fee framework and the REC system. We invite companies with interest in the topic to join our efforts in the area. |
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Cheers to the New Year at SOSORO Museum! |
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Join EuroCham for this special chance to meet, mingle, and network, all against the fascinating backdrop of Phnom Penh's SOSORO Museum. Along with guided tours running from 5:30-6:00PM, the museum will stay open until 7PM, giving guests the opportunity to explore the exhibitions at their leisure. But that's not all. The evening will also feature:
- Delicious Food & Drinks: Savor a selection of culinary delights and refreshing beverages.
- DJ Entertainment: Relax and enjoy or dance along as DJ's set the mood.
- Exciting Lucky Draw: Stand a chance to win fantastic prizes
Don't miss this celebration of everything 2025 will hold! |
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Welcome to our newest Chamber members! |
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Cambodia Lifestyle is a destination management company dedicated to uniting Cambodia's tourism sector by consolidating information and promoting diverse travel experiences through an accessible platform. We aim to bridge the gap between iconic attractions, such as Angkor Wat, and lesser-known destinations, offering curated insights into the country's cultural, historical, and natural assets.
Focused on sustainable tourism, we support eco-friendly accommodations, locally-owned businesses, and community-based initiatives to promote responsible travel that uplifts local communities. Our platform enhances accessibility, helping travellers plan itineraries and book accommodations, while fostering a deeper connection with Cambodia's rich cultural heritage. |
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ASEAN's Unique Professional IMU University is a hybrid education ecosystem for leaders and entrepreneurs, guided by the principles of Flexibility, Practicality, and Prestige. Founded as SMEBi University in Myanmar with 8 physical campuses, IMU transitioned to Cambodia in September 2024 as International Management University (IMU). With a vision to expand across the ASEAN market, IMU bridges European executive education with the needs of the ASEAN region, integrating academic knowledge with real-world best practices by offering programs like the Online Executive MBA and PhD, aligned with academic excellence and real-world application. |
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At Serva Travel, we're more than just a travel company; we're a catalyst for positive change. As a leading sustainable experience-driven tour operator and destination management company in Cambodia and the Mekong region, we're dedicated to creating meaningful journeys that connect travellers with nature, diverse cultures, and local communities.
Our vision is to be the Leading Sustainable Destination Management Company in Luxury Travel and MICE Solutions in the Mekong Region. Our mission is to deliver Exceptional Travel Experiences that connect travellers to authentic cultures, stunning landscapes, and meaningful moments. |
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French comic book artist brings his knowledge and vision to Cambodia |
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Simon Hureau's colourful illustration and travel stories have brought him international acclaim. |
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Simon Hureau comes to Phnom Penh for art and writing conference.
Attending the prestigious École supérieure des arts décoratifs in Strasbourg, Hureau gained acclaim for his vivid water colour paintings. However, it is his illustrated stories, often touching on themes of travel and transformation, that have brought the Caen native international acclaim. His illustrated biography Sermilik: Where the Ice is Born tells the story of Max, who left his home of Marseille to live in the remote village of Tiniteqilaaq on the east coast of Greenland where he learned from the Inuit and embraced the beauty of the harsh environment. It won the Ouest-France Quai des Bulles Prize, in Saint-Malo in 2022.
Next week, Hureau will support the Chakto project at the French Insitute, an initiative which aims to boost local cultural and creative industries and encourage emerging Cambodian talents in 4 fields related to writing: cinema, books, dance and music. Fifteen Cambodians will be trained in the art of comic book writing with the support of Sipar, a local education NGO dedicated to expanding literacy and building an appreciation of literature and reading in Cambodia. |
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