Cambodian PM Offers Tax Breaks to Factories Hit by Coronavirus, EU Tariff Losses

Cambodian Prime Minister Hun Sen promised on Monday to give tax breaks to garment factories hit by supply chain disruptions from the coronavirus epidemic and higher tariffs after the European Union (EU) withdrew trade preferences over human rights.

He also pledged to give hotels and guesthouses a tax exemption for four months to help offset losses to the tourism sector caused by the new coronavirus strain that has killed more than 2,500 people, mostly in China, and spread to about 28 other countries and territories.

Travel restrictions and quarantines in China, the manufacturing engine that powers much of the world, hit movement of goods, with the lack of supplies reverberating throughout the global supply chain.

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