Cambodia issues decree to facilitate loans for investors
The Cambodian government has issued a sub-decree allowing investors to use long-term leases and rights to economic land concessions on state properties as collateral when applying for bank loans, local media reported Saturday.
According to a copy of the sub-decree signed by Prime Minister Hun Sen, investors and companies are also able to transfer these concessions or long-term leases to other interested parties, the Cambodia Daily newspaper said.
"Investors have the right to pawn or transfer long-term leases or economic land concessions including buildings and other properties that they have invested in on the land," the sub-decree stated.
The sub-decree acts as a safety net for land concession holders by allowing them to sell the rights to concessions that they can no longer afford to operate, Chan Tong Yves, secretary of state for the Ministry of Agriculture, was quoted by the newspaper as saying.
In Channy, president of Acleda Bank, said that although the new sub-decree could help investors in applying for loans, other documents proving the investors' capital are required.
Source: Xinhua
According to a copy of the sub-decree signed by Prime Minister Hun Sen, investors and companies are also able to transfer these concessions or long-term leases to other interested parties, the Cambodia Daily newspaper said.
"Investors have the right to pawn or transfer long-term leases or economic land concessions including buildings and other properties that they have invested in on the land," the sub-decree stated.
The sub-decree acts as a safety net for land concession holders by allowing them to sell the rights to concessions that they can no longer afford to operate, Chan Tong Yves, secretary of state for the Ministry of Agriculture, was quoted by the newspaper as saying.
In Channy, president of Acleda Bank, said that although the new sub-decree could help investors in applying for loans, other documents proving the investors' capital are required.
Source: Xinhua
8 comments:
This is a systematic destruction of Cambodian credit to the future. Hun Sen is doing this to allow all his friends to suck more monies for their own individual and it show a sign of final grab and flee. Areak Prey
This is outrageous! I have never see such an economic system in anywhere in the world! Even in some of the most advance economic system in the most industrial countries and there is no such system!
This is the final day countdown for AH HUN SEN Vietcong puppet and please enjoy while you can because once you wake up from having all the fun and you will be crying and begging for forgiveness!
This is great, our investors need all the help they can get.
On top of that, we need more tax incentive program to compete for business around the globe. Don't worry too much about the tax revenue at this point. As the unemployment rate drop to a certain level, people will be well paid; and thus, boost up the revenue... . Look at it as an investment from the part of the government for the future of our people.
Yeap, yeap...always one twisted mind amongst the crowd: 4:39PM's Hun Sen crew...lol!
No, My mind is strait like an arrow. You see it twisted because your mind is twisted, just like everything you do come out all twisted.
This is what happened when a person accept PhD from Vietnam -- nothing can be good! Ah Hun is .... up!
Wrong, PhD from Vietnam makes true winners.
this robery see what the motherfuckers robe the country?
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