Phnom Penh (FN), Oct. 6 – Cambodian prime minister Hun Sen mentioned that in October 2021, Cambodia enacted the Law on Investment of the Kingdom of Cambodia, a new investment law in order to promote investment attraction in the kingdom.
The premier spoke at the opening of Cambodia Outlook Conference 2022 under a theme “Revitalising Cambodia: Sustaining Development after COVID19”, held on Thursday (Oct 6) in Phnom Penh.
“In the context that many countries around the world continue to suffer from the outbreaks, the RGC has been trying to transform the crisis into opportunities, by accelerating in-depth reforms to improve the business climate and strengthen Cambodia's competitiveness. For instance, in October 2021, Cambodia enacted the Law on Investment of the Kingdom of Cambodia, a new investment law, that sets out specific and clear incentives and protections for investors, in order to promote investment attraction in Cambodia,” the premier underscored.
“In addition, the Royal Government has also set out and has been promoting the implementation of policies and strategies for the development of key sectors such as garments, automobiles, electronics, agriculture, tourism, posts, energy efficiency, and so on,” the premier continued.
Within the framework of international trade, Cambodia has become a signatory to (1). The Regional Comprehensive Economic Partnership (RCEP) Agreement, the largest free trade agreement in global history, (2). Cambodia-China Free Trade Agreement, and (3) Cambodia-Korea Free Trade Agreement.
Samdech added, for the way forward, in a situation full of complexity and high uncertainties, the RGC will prioritize building national economic resilience, as set out in "the Strategic Framework and Programs for Economic Recovery in the Context of Living with COVID19 in a New Normal 2021-2023".