Commerce Minister: Cambodia is an open economy with great incentive policies
In the evening of 14th February, 2017, at the cocktail reception of Cambodia International Business Summit 2017 organized at the InterContinental Hotel, H.E. PAN Sorasak, Minister of Commerce, informed international and national businesspeople that Cambodia offers many competitive investment incentives to investors.
“Although Cambodia is a small economy, the Royal Government of Cambodia has a clear vision and been formulated a number of policies that provide the most competitive advantages compared to countries in the region,” said H.E. PAN Sorasak. “Both foreign and local investors are treated equally under our investment law”, he added.
H.E. Minister further mentioned that Cambodia’s young and dynamic work force together with abundant natural resources, pro-business government, strategic geographical location and preferential trading arrangements with major trading partners as well as countries in the region, Cambodia is one among the best places to invest and do business.”
In line with Cambodia’s Industrial Development Policy (IDP) 2015-2025, the Royal Government of Cambodia had defined a new strategic framework to diversify trade and economic growth of Cambodia. The IDP aims at sharping the kingdom’s competitiveness and decreasing dependence on traditional sectors such as garment, tourism and agriculture, while encouraging more foreign direct investment for value-added segments of agribusinesses, food processing, component assembly, and light manufacturing.
This year summit has provided investors and entrepreneurs an exciting opportunity to broaden business network with a relaxing and cordial atmosphere to discuss and explore potentials for investment as well as to conduct business matching in order to promote the investment in Cambodia and boost the national economy.