PM highlights six benefits Cambodia offers to investors
Hun Manet, Prime Minister of the Kingdom of Cambodia, highlighted six tangible benefits that the Kingdom offers to investors at the Philippines-Cambodia Business Forum held this afternoon in Manila, the Philippines.
According to the Cambodian Premier, the six benefits include:
First, a Pro-Business Environment and Incentives: The Royal Government has implemented reforms, including streamlined regulations and generous tax incentives, to cultivate a business-friendly atmosphere. The Council for the Development of Cambodia (CDC) operates as a single point of contact for applications for the Qualified Investment Project (QIP), offering up to 15-year tax holidays, among other benefits.
Special investment programmes have been launched for Preah Sihanouk province and four northeastern provinces, providing unique incentives.
Second, Strong Public-Private Dialogue: Open communication between the government and investors is a key priority. The Government-Private Sector Forum, comprising 16 sector working groups, ensures that all challenges and concerns of the private sector are consistently heard and addressed.
Third, Strategic Location and Infrastructure Growth: Positioned at the heart of ASEAN, Cambodia provides unparalleled access to regional markets. Our substantial investment in infrastructure, especially logistics, transport, and efficient connectivity within Cambodia and the broader ASEAN region, reduces costs and optimises business operations.
Fourth, Regional and Global Market Access: As a member of ASEAN and a participant in RCEP, Cambodia provides unparalleled access to extensive regional markets. Cambodia’s bilateral FTAs with China and South Korea, along with our Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates, further enhance these advantages. Additionally, Cambodia and the Philippines should explore ways to optimise the significant untapped business and investment potentials, particularly the preferential market access offered by the FTAs to which both are parties, especially the ASEAN Trade in Goods Agreement (ATIGA) and RCEP.
We should leverage our respective comparative advantages on a mutually beneficial basis.
Referenced By : Khmer Time
