Vientiane (FN), Oct. 11 – Cambodian Prime Minister Hun Manet stated that Cambodia is one of the most liberalised economies in the world and the first countries in the region to open almost all sectors to foreign investments.

The premier spoke on Friday (Oct 11) during the 2024 ASEAN Business & Investment Summit in Vientiane, Laos.

"Cambodia is one of the most liberalised economies in the world. Foreign investors can set up their investment projects with 100 per cent foreign ownership in most sectors without local participation requirements. The only exception is land ownership," Samdech Thipadei underscored.

Samdech Thipadei Hun Manet underlined that in fact, Cambodia was among the first countries in the region to open almost all sectors to foreign investments in 1994. Foreign investors can repatriate their profits freely to their home country.

Samdech Thipadei continued, on top of that, through the new Law on Investment, Cambodia offers generous and sophisticated investment incentive schemes, together with improved facilitation services by simplifying registration procedures and providing a wide range of after-care services to investors.

Premier Hun Manet added that this year, the Royal Government has also introduced a Special Program to Promote Investment in Preah Sihanouk Province 2024, offering procedural facilitation and special benefits to investors beyond the Law on Investment.

At the same time, Samdech Thipadei also instructed relevant authorities to formulate a special program to incentivise investment in the north-eastern province bordering Laos and Vietnam.

The special program is expected to include public infrastructure development projects and generous incentive to boost further investment confidence in the region that has been relatively less connected and less developed, the premier added.
=FRESH NEWS