The consultations, held in Phnom Penh, were attended by over 80 representatives from various government agencies, small and medium-sized enterprises (SMEs), large corporations, and industry chambers. The workshops were facilitated by the ADB Office of the General Counsel’s Law and Policy Reform Program.

During the event, MOC Secretary of State Excellency Chea Ratha and Legal Affairs Department Director Excellency Sam Chetra expressed their appreciation for ADB’s timely support in developing the CETS. They highlighted the scheme’s importance in bolstering Cambodia’s e-commerce ecosystem and enhancing the competitiveness and reputation of local e-commerce businesses.

ADB’s Country Director for Cambodia, Ms. Jyotsana Varma, emphasized the critical role of an e-commerce trustmark in fostering consumer confidence. She explained that such a scheme can help ensure the security of online transactions, promote ethical business practices, and protect consumer rights. Varma further noted that the CETS is particularly valuable for SMEs seeking to expand both domestically and internationally.

Cambodia’s E-commerce Landscape

According to the International Trade Administration (ITA), digital expenditures in Cambodia have been steadily increasing. In 2021, digital expenditures as a share of consumer spending per capita reached 6 percent, nearly matching the Asia-wide average of 7 percent.

E-commerce, e-travel, e-services, and digital media markets contribute to these digital expenditures. In 2021, Cambodia’s e-commerce market generated $970 million, accounting for a substantial 88.6 percent of its total digital expenditure. The fashion sector was the largest segment within the e-commerce market, with revenue reaching $264 million.

The e-commerce market is expected to continue growing at a rate of 16.4 percent per annum, reaching a market volume of $1.8 billion by 2025. This growth is indicative of the increasing popularity and adoption of online shopping in Cambodia.

The post ADB, MOC Collaborate on Cambodia’s E-commerce Trustmark Scheme first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

During the meeting, the Prime Minister expressed optimism that Cambodian entrepreneurs will use the Alibaba e-commerce platform to take full advantage of the international market.

The Prime Minister welcomed Alibaba’s cooperation with Cambodian companies and enterprises to bring Cambodian products and services to the global market. He also expressed optimism that Cambodian entrepreneurs would use the Alibaba e-commerce platform to take full advantage of the international market.

Ms. Wen Jia thanked the Prime Minister for taking the time to meet with her and to witness the signing ceremony of a Memorandum of Understanding between the Ministry of Commerce of Cambodia and Alibaba of China. The MOU will allow Cambodian products to be directly sold in the Chinese market as well as in ASEAN countries through the Global e-Commerce Platform – eWTP Platform.

Ms. Wen Jia added that the signing of the MOU has also received support from Samdech Techo Hun Sen in the past, and this achievement is in line with the digital economy in the first phase Pentagonal strategy of the Royal Government of Cambodia of the Seventh mandate.

She also briefed the Prime Minister on the progress of Alibaba, which now has a total of approximately 1.3 billion customers worldwide. She also mentioned that the company already sells Cambodian products on its e-commerce platform, such as rice and fruit. Alibaba also has an electronic platform for Chinese people to apply for Cambodian visas, and this service has received high interest and the number of applicants has increased significantly.

The post Cambodian PM optimistic about Alibaba E-Commerce platform first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The Minister made this statement during a discussion on the results of tax collection in April and the first four months of the year, as well as the future plans and strategies of the General Department of Taxation.

The collection of value-added tax from e-commerce transactions has become a substantial source of revenue for Cambodia, with more and more businesses registering and fulfilling their tax obligations.

Since the Royal Government implemented the collection of value-added tax from e-commerce in April 2022, 69 companies in the e-commerce field, including major international companies such as Facebook (Meta), Google, and Amazon, have already fulfilled their tax responsibilities.

The department is pleased with the progress made thus far in terms of tax revenue generation and plans to develop additional strategies in the future to streamline the process further. The General Department of Taxation is gearing up to tackle the challenges associated with the rapidly-evolving e-commerce landscape, aiming to ensure that the country continues to benefit significantly from e-commerce transactions in the years to come.

The post E-commerce tax revenue hits $26 million in four months first appeared on Estatedia | Economy & Real Estate Media in Cambodia.