Kingdom of Cambodia
Nation Religion King 

Royal Government of Cambodia
Council for the Development of Cambodia
No. 748/00 CDC                                                                                                         Phnom Penh, March 15, 2000
 

SARACHOR NERNOAM (CIRCULAR)
ON PROCEDURES FOR NON-PERFORMING INVESTMENT ENTERPRISES
 

Previously, the CDC had noticed that some Investment Enterprises which were granted investment approval from CDC have not implemented their activities as stated in the approved project. Meanwhile, CDC had also issued numerous notifications requiring these Investment Enterprises to provide details of their non-performance. However very few enterprises have been forthcoming. 

In order to ensure transparency and the soundness of future investment activities, the CDC hereby issues the following measures for approved Investment Enterprises which have not performed prior to the entry into force of Anukret No. 88/ANK/BK of December 29, 1997 on the Implementation the Law on Investment of the Kingdom of Cambodia: 

1.   a non-performing Investment Enterprise shall submit to CDC/CIB proper reason detailing  the cause of the non-performance. Any Investment Enterprise failing to provide such information shall be subject to the revocation of investment privileges and incentives and the removal from the CIB’s investment list pursuant to specified procedures. 

The CDC/CIB shall issue a 30 days notice. In the event of a non response, a reminder notice shall be sent providing notice for another 15 days. Thereafter, a 15 days final warning letter shall be sent by the CDC. Upon the expiry the above periods, the CDC shall proceed to revoke the investment privileges and incentives and subsequently remove automatically the Investment Enterprise from the CIB’s investment list. 

2.   In the event the Investment Enterprise wishes to reinstate its activities, it shall do the followings:

• provide further information as required by CIB.

• pay an Application fee of USD500.00 (Five Hundred US dollars) or USD 1,000.00 (One Thousand US dollars) as required under Anukret 88/ANK/BK of December 29, 1997.

• maintain a deposit in the CDC account at the National Bank of Cambodia in accordance with the rates as stipulated under Anukret 88/ANK/BK of December 29, 1997, Chapter 2, Article 7, Paragraph 1.7.

The CIB shall be responsible for informing all Investment Enterprises and Departments under its jurisdiction in order to ensure effective implementation of this Sarachor. 

Senior Minister
Minister of Economy and Finance
and acting Vice-Chairman of CDC

Keat Chhon