Since the promulgation of Cambodia's liberal new Investment Law in August 1994, foreign direct investment projects valued at more than US $2billion have been approved by the Council for the Development of Cambodia (CDC) -- the Royal Government's One Stop Service investment agency.
Cambodia is now open for business with an investment law which offers overseas and local companies attractive and competitive incentives.
Cambodia's Investment Law offers:
Cambodia qualifies for GATT, Generalized System of Preferences (GSP) and this status has been granted by 26 countries, including the European Union, Japan, Canada, Scandinavia, and Australia.
Cambodia hopes to secure the Most Favored Nation Status (MFN) with the United States in the very near future.
The Council for the Development of Cambodia is a One Stop Service investment centre, established in 1994 by the Royal Government of Cambodia, which provides local and overseas investors with a fast-track route to new business opportunities in this ever-ch anging and dynamic country. The CDC, in guaranteeing to evaluate investment applications for all projects except those involving natural resources in 45 days or less, offers the speediest and most efficient response in the region. The application procedures are user-friendly, easy to understand and free of unnecessary red tape. The CDC is also empowered to grant important duty and tax exemptions, process company registrations, visas and work permits, and provide potential investors with economic and social data.
The CDC comprises two important executive board: The Cambodia Investment Board (CIB) deals with all private sector applications. Led by Secretary General Vichit Ith-the author of the country's new Investment Law-the CIB is a one stop service for private investment. The Cambodia Rehabilitation and Development Board, headed up by Secretary General Chhieng Yannara, deals with infrastructure planning and all public sector projects. The CRDB also liaises with aid bodies and the many non-governmental organizations workin g for a better Cambodia.
For more information, please contact the CDC Information Desk.
Tel: (855) (23) 50428 Fax: (855) (23) 361 616 or 360 60
Nation Religion King
From The Secretary General
INFORMATION TO INVESTORS
The Board welcomes all the potential investors to come and invest in Cambodia and our staff stands ready to facilitate your endeavor in this respect.
In order for the Board to take into consideration your investment proposal, kindly submit the following documents:
Upon reception of the above, the Board will render its decision within 45 days at the latest. Our Information Desk is at your disposal for any questions that you may have.
From The Secretary General
ANNOUNCEMENT
The Board has the pleasure to inform potential investors that it has started its operation since Monday, August 8, 1994.
Our new and speedy approval procedure aims at facilitating private investments in the Kingdom. Indeed, we shall process and decide on the approval of investment projects within 45 days*.
Our young and dedicated staff and I stand ready to provide investors with all the required information and guidance.
Vichit Ith
* Except for major infrastructure projects where more time is needed due to their technical characteristics. All projects which create local value-added and bring in actual technical expertise are considered investment projects (trading activities are not considered as investment).
Government Palace, Sisowath Quay, Wat Phnom, Phnom Penh, Cambodia
Tel: (855) (23) 50 428 Fax: (855) (23) 361 616
Seven good reasons:
The promulgation of our new investment law means Cambodia now offers the best business incentive package in Southeast Asia; making the Kingdom's outward-looking economy a very attractrive place to invest. The following are the highlights of the new law :
The establishment of the Council for the Development of Cambodia (CDC) allows investors to deal with just one government body, a "One Stop Service" investment centre that provides the speediest approval response in the region.
The CDC provides information and application documents, evaluates and processes investment applications in less than 45 days. The CDC also grants customs duties and tax exemption, registers the company, issues visas and work permits, and facilitates oth er downstream administrative procedures.
Industrial Zones are being developed in the capital, Phnom Penh and the main deep-water port, Sihanoukville. Investment in these zones will qualify investors for additional incentives.
Cambodia has a population of 9 million people, of which 51% are in the 'working age" group. Our labour force is hard working and motivated.
Labour costs are low compared with other Asian countries and our natural resources-especially oil and minerals-are only now being discovered.
As part of the Greater Mekong Sub-regional Economic Group, Cambodia is ideally placed to take advantage of the area's fast-developing consumer markets.
Cross-border movement of goods will further boost trade when Cambodia becomes a member of the Association of Southeast Asian Nations (ASEAN).
Promises for one billion US dollars in foreign aid have already been made...a vote of confidence by the international community in the future of Cambodia.
But, just as importantly, since the new government came to power in September 1993, the Kingdom has attracted over 200 million US dollars in private sector investment.
Build-Operate-Transfer (BOT) projects have been approved for a second international airport and a new power generation plant to serve Phnom Penh. The telecommunications network is being upgraded to meet international standards. Roads, too have been imp roved...the bridge connecting the capital with Highway Six-the road that leads to the T hai border-has been rebuilt and Highway Four connecting Phnom Penh with the main port of Sihanoukville is currently being repaired.
Cambodia qualifies for the GATT, Generalized System of Preferences (GSP) and this status has already been granted to the Kingdom by the European Union, Japan, Scandinavia, Canada and Australia.
We are also discussing Most Favored Nation Status (MFN) with the United States of America.
We believe Cambodia's free market economy has enormous potential for far-sighted investors. The new investment law is the first step to realizing that potential.
If you'd like to know more about investing in Cambodia,
write to us at the address below,
or fax us at (855) 23 61616 or (855) 23 60606 and we'll send you
a copy of the new investment law, plus all relevant information.
Download an investment project application (Microsoft Word 5) from the Cambodian Investment Board.
Download a Company Registration Form.