Legal Update: The Amendment of Annex 1 (Negative List) of Sub-Decree No. 139 ANKr.BK
Subject: Investment
Applicable Industries: All corporate

The Royal Government of Cambodia issued Sub-Decree No. 86 ANKr.BK on June 6, 2025, which introduced revisions to Sub-Decree No. 139 ANKr.BK, issued on June 26, 2023, regarding the Kingdom of Cambodia's Law on Investment.

In particular, Annex 1 (Negative List) under Section C—which deals with Investment Activities or Investment Activity Categories in the Industrial Sector—is addressed by this modification. The "Manufacturing and/or Assembly or Installation of Electronic Cigarettes and All Types of Similar Electronic Smoking Devices" is specifically covered under the recently inserted clause C.12.15.

The government's strategic policy to regulate sensitive industries, particularly those that may have an impact on public health and safety, is reflected in this regulatory evolution. It highlights Cambodia's continuous efforts to make sure that foreign investment flows in line with responsible investment guidelines and national development priorities.