Cambodia 'encouraging' foreign investors
AAP
Cambodia is undertaking steps to make business easier for foreign investors, Cambodian prime minister Hun Sen said.
Mr Hun Sen told a business investment lunch that initiatives to encourage foreign investment include the removal of overlapping approvals, implementing a single administrative document and harmonising VAT, income tax and company registration.
He said his government will create manufacturing bases outside the capital Phnom Penh and ensure stronger economic links between the cities and the rest of the country.
"Administrative formalities and inspections will be reduced to a minimum level, thus allowing firms to save time and money," Mr Hun Sen said in a speech that was broadcast live in Cambodia.
He welcomed the investment in Cambodia of ANZ Banking Group which teamed up with Cambodian mobile phone company Royal Group to establish a joint venture bank in Cambodia.
BHP Billiton is also mining for bauxite in Cambodia.
Mr Hun Sen said ANZ had introduced 21st century banking technology to Cambodia.
"ANZ Royal is a good example of how this sort of Cambodia-Australia partnership can work well, with mutual respect and regard for the value of what each party brings to the relationship," Mr Hun Sen said.
After 12 months, ANZ Royal is No.2 in customer deposits, has 20,000 customers with the most ATMs in the country.
Mr Hun Sen said his government also wanted foreign investment which can help solve its water irrigation difficulties, upgrade and build new infrastructure such as rail roads, bridges and airports as well as develop oil and gas reserves.
"Cambodia's economic outlook is good. We will make utmost efforts to ensure double digit growth for the next five years to come," Mr Hun Sen said.
He said oil and gas exploration would open up new economic opportunities for Cambodia.
"We are committed to use these resources responsible for social and economic development in order to achieve the Millennium Development Goals and ensure sustainable development."
The president of the Cambodia Chamber of Commerce, Neak Okhna Kith Meng, said Australia contributed just $US15.5 million ($A20.67 million) to Cambodia's $US2.5 billion ($A3.33 billion) imports in 2005.
He said Cambodia exported $US3 billion in goods last year with only $US3.2 million directed to Australia.
"These figures provide all Australians with another business reason to investigate the opportunities Cambodia can offer," Mr Meng said.
Mr Hun Sen told a business investment lunch that initiatives to encourage foreign investment include the removal of overlapping approvals, implementing a single administrative document and harmonising VAT, income tax and company registration.
He said his government will create manufacturing bases outside the capital Phnom Penh and ensure stronger economic links between the cities and the rest of the country.
"Administrative formalities and inspections will be reduced to a minimum level, thus allowing firms to save time and money," Mr Hun Sen said in a speech that was broadcast live in Cambodia.
He welcomed the investment in Cambodia of ANZ Banking Group which teamed up with Cambodian mobile phone company Royal Group to establish a joint venture bank in Cambodia.
BHP Billiton is also mining for bauxite in Cambodia.
Mr Hun Sen said ANZ had introduced 21st century banking technology to Cambodia.
"ANZ Royal is a good example of how this sort of Cambodia-Australia partnership can work well, with mutual respect and regard for the value of what each party brings to the relationship," Mr Hun Sen said.
After 12 months, ANZ Royal is No.2 in customer deposits, has 20,000 customers with the most ATMs in the country.
Mr Hun Sen said his government also wanted foreign investment which can help solve its water irrigation difficulties, upgrade and build new infrastructure such as rail roads, bridges and airports as well as develop oil and gas reserves.
"Cambodia's economic outlook is good. We will make utmost efforts to ensure double digit growth for the next five years to come," Mr Hun Sen said.
He said oil and gas exploration would open up new economic opportunities for Cambodia.
"We are committed to use these resources responsible for social and economic development in order to achieve the Millennium Development Goals and ensure sustainable development."
The president of the Cambodia Chamber of Commerce, Neak Okhna Kith Meng, said Australia contributed just $US15.5 million ($A20.67 million) to Cambodia's $US2.5 billion ($A3.33 billion) imports in 2005.
He said Cambodia exported $US3 billion in goods last year with only $US3.2 million directed to Australia.
"These figures provide all Australians with another business reason to investigate the opportunities Cambodia can offer," Mr Meng said.
6 comments:
when procedure in place , ah pra chang shout red-tape, bureaucracy, when it is remove, pourk ah pra chang shout again that the gov is selling Cam. In short ah pra chang do whatever it can to block development of Cam.
Kent
To 9:38PM
What are you talking about?
What about ah pra chang want AH HUN SEN to pass anti-corruption law? How many more years?
Ah pra chang want to welcome all kinds of development! But to kick poor Cambodian people off their land for development without proper compensation is no way to develop a country! What kind of a fucken up development is this when poor Cambodian people are pushed further and deeper into poverty?
With all the developments going on in Cambodia right now, Cambodian people are being paid for a penny on a dollar! These poor Cambodian people couldn't even afford the basic necessity of life from their earning such as clean water, shelter,doctor visit, put their children through school, and travelling between city or town because there is no mass transit!
I said just pass the fuken anti-corruption law so that Cambodian people can afford some of the basic necessity of life such as clean water, decent shelter, school become more affordable for children, and people can afford to travel easily by mass transit between cities and towns to promote economic activities.
Re: Kent@9:38PM & anon@11:02PM
Thanks Anon@11:02 PM. I am with you.
As for "Kent", you deserve more credit than that Kent, simply because evidentially you're pro-Viet and pro-ah-Chhk'aer HUN SEN and his cronies. If Kent doesn't know by now that the current HANOI's sattellite regime in P. Penh is not by KHMER and for KHMER, Kent is blind and can continue to make more of the same statement if not worse.
If I may, Kent, understand that this is not a classic case of "Damn we do, Damn we don't" or "Catch 22" for ah Chhk'aer Hun Sen regime...it's a clear case of the VIET-HUN SEN regime vietnamizing, annexing Cambodia and cleansing the native Khmer race.
the true native Khmer will suffer to no end, while no one even dares touching those so-called Viet-Khmer anywhere in the country. Have a pleasant one!
10/13/06
AK4AnetKhmer
NOT VIET-KHMER, IS VIET-CAMBODIA
AH SCHIKER YOUN-VIET-MINH-VIET NAME MOMIS IS GAINNING FROM AH HUN SEN DEVELOPMENT NOT THE ORDINARY KHMER AND CAMBODIAN!
You guys went totally out of my topic.
Kent
Post a Comment