Energy minister Keo Rattanak speaks at the May 20 inauguration of a new cement factory in Kampong Speu province. STPM
The growth of mining exploration and business activities in Cambodia contributed to the government collecting nearly $100 million in non-tax revenue from the mining sector in 2024, a major 79% increase over 2023, according to Minister of Mines and Energy Keo Rattanak.
Speaking at the May 20 inauguration ceremony of a new $250 million cement factory in Kampong Speu province’s Oral District, Rattanak reiterated that peace has created a favourable environment for national development — including in the mining sector.
He noted that although the Kingdom’s mining sector is still in its early stages, the country has made significant progress by attracting both local and foreign investors, generating substantial new sources of income for the government.
He added that Cambodia now has numerous mining sites supplying domestic demand and exporting mineral products abroad.
Rattanak explained that in Kampong Speu province, non-tax revenue – such as fees and permits – from the mining sector amounted to over $5 million in 2024, and around $1 million in the first quarter of 2025, with 1,900 direct jobs created from 74 mining operations.
According to the 2025 national budget, the Cambodian government aims to collect 31,598 billion riel (around $7.9 billion) in national revenue, comprising, 26,418 billion riel ($6.6 billion) from tax revenue, 3,971 billion riel ($992.75 million) from non-tax revenue, and 1,209 billion riel ($302.25 million) from other income sources.
Hong Vanak, an economist at the Royal Academy of Cambodia, told The Post on May 20 that the increase in revenue reflects a rising level of mining operations, both in terms of the number of operations and the returns gained by investors. He believed that conducting further exploration and operations in line with legal frameworks will help ensure sustainable revenue growth.
“When revenue increases, it gives the government more capacity to invest in public infrastructure, human resources, healthcare, technology and more,” he explained.
“The government could potentially collect even more tax revenue if business classification updates become more clear and transparent,” he added.
