Sunday, June 4, 2023
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

Cambodia’s Draft Law on Investment nears final stage after Senate approval

September 21, 2021
in Business, Cambodia, National
0
Cambodia’s Draft Law on Investment nears final stage after Senate approval
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter

Cambodia’s Draft Law on Investment is heading to the final stage of approval after it was discussed and adopted by the Plenary Session of the Senate on Monday morning.

The draft now goes back to the National Assembly for a final vote and becomes law when the King signs the document.

The draft is made up of 12 chapters and 42 articles. A copy shared with Khmer Times says it is intended to establish “an open, transparent, predictable and favourable legal framework to attract and promote quality, effective and efficient investments by Cambodian nationals or foreigners for socio-economic development in the Kingdom of Cambodia.”

It would achieve those goals in four ways; by increasing competitiveness; modernising and increasing the productivity of local industries and strengthening regional and global connectivity; establishing an investment incentive regime that is transparent, predictable, non-discriminatory and competitive; and providing protection to investors’ rights in line with national interests.

Speaking after the Senate vote EuroCham Chairman Tassilo Brinzer said  adoption of the updated investment law would be an important step in Cambodia’s economic recovery. The European Chamber of Commerce advised the government on the draft law, which could continue to be modified by sub-decrees.

AmCham President Anthony Galliano said the time taken approving the draft law is understandable given the limitation the pandemic has placed on the government for assembly.

“Now the new incentives can be implemented and expectations are there will be an acceleration of foreign direct investment once the pandemic restrictions are relaxed and SMEs [small and medium-sized enterprises] can now welcome the tax exemption on VAT [value added tax] for any purchase of inputs by for the implementations of QIPs [qualified investment projects] that are made locally,” he said.  “I am encouraged by the progress made with Investment Law 2021, especially the new incentives and focus on 20 priority sectors and am now hopeful that the government will embrace the hard work underway with the Government Private Sector Forum Working Group D as work on the 2022 law approaches,” Galliano said.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: CambodiaCambodia’s Draft LawCambodia’s Draft Law on InvestmentDraft Law on Investment
Previous Post

Cambodia to host ASEM13 to strengthen multilateralism for shared growth

Next Post

National Bank of Cambodia (NBC) to auction $20 million on Monday

Related Posts

Chinese tiremakers bet on recovery via new plants in Cambodia

Chinese tiremakers bet on recovery via new plants in Cambodia

by Khmer Times
May 30, 2023
0
2

Manufacturers in China, the world’s largest producer and exporter of tires, are building factories abroad in an optimistic mindset to...

Cambodia Mekong River cruise business ‘slowly’ getting back on track

Cambodia Mekong River cruise business ‘slowly’ getting back on track

by Khmer Times
May 30, 2023
0
0

Mekong River cruise business is getting back on track, but at a slow pace, according to a prominent player in...

$2 million electric motorbike assembly plant in Cambodia by Verywords Co Ltd launched

$2 million electric motorbike assembly plant in Cambodia by Verywords Co Ltd launched

by Khmer Times
May 30, 2023
0
3

South Korean eco-friendly electric two-wheel vehicle supplier Verywords Co Ltd inaugurated its plant to assemble electric scooters in Kandal province,...

Most Popular

2 Chinese tourists’ naked bodies found in Bali hotel

2 Chinese tourists’ naked bodies found in Bali hotel

May 6, 2023
221
Oriental Bank Plc, new commercial bank in Cambodia, to enter market ventured by G Capital Bhd, Public Bank Bhd, E S Packaging

Oriental Bank Plc, new commercial bank in Cambodia, to enter market ventured by G Capital Bhd, Public Bank Bhd, E S Packaging

December 12, 2020
3.6k
Harry takes a seat at coronation, but no balcony appearance

Harry takes a seat at coronation, but no balcony appearance

May 8, 2023
6
Dara Sakor International Airport in Koh Kong province of Cambodia delayed due to unfinished construction

Dara Sakor International Airport in Koh Kong province of Cambodia delayed due to unfinished construction

May 19, 2023
5
China urges Australia to help find crew of capsized fishing boat

China urges Australia to help find crew of capsized fishing boat

May 19, 2023
4
Upside down flags: SEA Games organiser apologises for gaffe in opening ceremony

Upside down flags: SEA Games organiser apologises for gaffe in opening ceremony

May 8, 2023
4

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!