Cambodia’s liquid waste management, especially in Phnom Penh, has been overlooked and neglected for decades. Such mismanagement resulted in serious negative impacts on the country. The most pressing challenge is related to the country’s drainage systems, wastewater treatment, and overall waste management.
On 26 December 2024, the National Bank of Cambodia (“NBC”) issued a Prakas on Transactions Related to Cryptoassets (the “Prakas”), becoming effective immediately and representing a step toward greater regulatory certainty on cryptoassets transactions with respect to the banking sector in Cambodia. Before the Prakas, the Securities and Exchange Regulator of Cambodia issued Guideline No.001/22 on Fintech Regulation Sandbox in Securities Sector.
On 31 October 2024, the Ministry of Economy and Finance issued Instruction No. 026 on Tax Incentives for Enterprises Involved in Art, continuing tax incentives and tax relief for businesses as follows:
HBS Law would like to inform every enterprise, including commercial enterprises, associations, and NGOs, that intends to employ foreign nationals in Cambodia in 2025 that, in accordance with Ministerial Proclamation No. 196 on Employment of Foreign Labour issued by the Ministry of Labor and Vocational Training (the “MLVT”) on 20 August 2014, the application period for the mandatory foreign employment quota 2025 is now open and will remain so until the end of November 2024.
On 7 August 2024, the Ministry of Commerce (“MOC”) and the Ministry of Post and Telecommunications jointly issued an Announcement on “Inclusion of Standardized QR Codes on Certificates of Incorporation, Which Can Be Verified through verify.gov.kh” to inform businesspersons that the MOC is now placing QR Codes on certificates of incorporation (“COIs”) issued by the MOC.
INSIGHTS
In August 2015 HBS Law revealed its new website. The rebrand is designed to reflect HBS Law's position as a leading Cambodian law firm with an Asian regional reach.
"We are increasingly working with clients who have a presence throughout the region, as well as with foreign investors coming into Cambodia," says Mr Ly, Managing Director of HBS Law. "We are proud to offer honest, balanced services to our clients, acting as trusted business partners to help them succeed."