CCIED and GDT Enhance Efforts on Informal Economy Development

Phnom Penh: H.E. Hem Vanndy, Minister of Industry, Science, Technology and Innovation, convened with H.E. Kong Vibol, Minister Delegate Attached to the Prime Minister and Director General of the General Department of Taxation (GDT), to evaluate progress and strengthen collaboration on the National Strategy for Developing the Informal Economy. According to Agence Kampuchea Presse, the meeting, which took place at the GDT headquarters, also concentrated on preparations for the upcoming historic Joint Session of the National Assembly, Senate, and Government on June 2-3, 2025. This session will address key topics such as the informal economy, social protection, and agriculture, as noted by the Ministry of Industry, Science, Technology and Innovation (MISTI). H.E. Hem Vanndy, who also serves as Chairman of the Committee for Coordinating the Implementation of the Economic Development of the Informal Economy (CCIED), acknowledged the strides made by GDT in executing key measures under the national strategy. These include tax incentives and relief for informal economy players, particularly small and medium enterprises. He urged GDT to broaden the promotion of these benefits to ensure that informal businesses are aware and can fully utilize them. H.E. Kong Vibol pointed out GDT's recent accomplishments, such as the completion of its new headquarters and advancements in the digital transformation of tax administration. He also discussed progress and challenges in executing the national strategy. GDT expressed full support for integrating the informal economy, committing to work alongside the CCIED and MISTI to advance and implement tax incentives that facilitate the growth and formal transition of informal businesses. Additionally, both parties agreed to enhance collaboration on nationwide SME data integration, aligning with broader economic development objectives.