Phnom Penh (FN), Jul. 9 – Cambodian prime minister Hun Sen underlined that peace and stability are priorities for foreign investment in Cambodia despite world’s political and trade challenges.

The premier addressed in the cabinet meeting held online on Friday.

The premier highlighted that the draft law on investment is a legal basis for attracting and providing investors easy access to invest in Cambodia, according to government spokesperson Phay Siphan.

"Investors eye peace and stability before choosing Cambodia as an investment target regardless of current situation of global trade and politics,” Phay Siphan quoted the premier as saying.

In the first six months of 2021, Council for the Development of Cambodia (CDC) has approved 87 projects worth about $3 billion, which can create 50,029 jobs.

Although the number of investment projects approved by the CDC in the first half of 2021 has decreased significantly compared to the same period last year, an investment capital has increased about 12% thanks to some large investment projects.

In the first half of 2021, investment from China ranked the first, accounting for about 69% of total investment, while domestic investment ranked second with about 21% off total investment.

Phay Siphan underlined that the draft law on investment was guided by the Cambodian Industrial Development Policy 2015-2025. The study was carried out strictly by the CDC. Consultations were also held among representatives of the private sector and other stakeholders.

The draft law on investment is designed to create an open, transparent and predictable legal framework that is favorable for investment from both Cambodian and foreign individuals, with quality, efficiency and effectiveness to develop the socio-economic situation in Cambodia, he continued.
=FRESH NEWS