The Council for the Development of Cambodia (CDC) has announced a new service that aims to facilitate imports for investment projects, according to an announcement issued on Monday.
The National Single Window will examine import applications by private companies transparently and efficiently, CDC said.
Cambodia Chamber of Commerce vice-president Lim Heng said the new system will manage data on imported goods transparently and will help keep undesired goods out of the country.
“The National Single Window makes it easy for companies to import goods for investment purposes. Imports for investment purposes are not subject to tax. The new system will make it easier to decide who pays taxes and who doesn’t,” he said.
According to a report by the National Bank of Cambodia, last year the Kingdom imported $1.5 billion worth of construction materials, up 50 per cent from 2018. The Kingdom imported about $500 million worth of steel.
Last year, the Ministry of Land Management, Urban Planning and Construction granted permission for 4,446 construction projects, worth some $9.353 billion, on a total area of 18.54 million square metres. Last year there were 2,867 construction projects on 11.42 million square metres, worth around $5.228 billion.