Cambodia s Policy on Investment. Ratana PEN Heinrich Boell Foundation Cambodia

Transcription

1 Cambodia s Policy on Investment Ratana PEN Heinrich Boell Foundation Cambodia

2 Policy Framework for Investment in Cambodia 1. Investment Policy 2. Investment Promotion and Facilitation 3. Trade Policy 4. Competition Policy 5. Tax Policy 6. Corporate Governance 7. Policies for promoting responsible business conduct 8. Human Resource Development 9. Infrastructure and financial sector development 10. Public governance

3 Open Door Policy for Investment Liberal foreign investment regime 100% foreign equity ownership investments are allowed except the ownership of land Free remittance of foreign currencies abroad. No price controls on products or services Equal treatment of all investors No nationalization adversely affecting the property of investors No foreign exchange controls on current account transactions Clear Legal Framework for Investment

4 Private Sector Development Strategy Investment Climate: Amendment of Law on Investment (2003) and its sub decree 111 ANKr. BK (27 September 2005) Automatic approval One Stop Service Trade Facilitation : Single administrative document, Single Window, Risk Management (Sihanouvillle Port) Trade Sectoral Wide Approach (Trade SWAp) Government Private Sector Forum: Participatory approach

5 A ONE STOP SERVICE Information & Application Approval Customs Duty & Tax Exemption Visa & Work Permit Company Registration TOWARD EFFICIENCY IN CUSTOMER SERVICING

6 Investment Protection Agreements

7 Investment Priority Sectors Agriculture and Agro Industry Transportation and Telecommunication Sector Energy Sector Labor Intensive Industries and Export Oriented Industries Processing Industry Tourism Sector Human Resource Development Oil & Gas, Mining

8 Competitive Investment Incentives Corporate tax 20% Tax holidays: up to 9 years Full Import Duty Exemption Repatriation of profit (withholding tax) Reinvestment of earning (special depreciation)

9 Priority in Agriculture Development Create Agriculture Support and Development Fund of US$18 million; Rural Development Bank Zero tariff on importing agriculture materials such as seeds, fertilizers, pesticide and agricultural equipment etc.; and Planned further incentives for investment in processing facilities, rice milling for exports and investment in irrigation; Streamlined procedures to promote rice exports; Promoting farmer organization by setting up cooperatives; Seeds, fertilizers, agricultural extension, marketing Royal Decree NS/RK/0609/009 dated 20June 2009 decided as follows; QIPs in Agriculture and Agro Industry Sector shall receive the incentives of Priority period of tax holiday for 3 (three) years, which means Max.9years.

10 Natural Resource Land (economic land concession up to 99 year contract plantation, agro industry crop, etc.) Oil, Gas and Minerals (bauxite, gold, iron, manganese, phosphate rock, silica,...) Chinese, Vietnamese, Thailand, Korean, Australian and domestic

11 Legal Framework for Trade Law on Negotiable Instruments and Payment Transactions (2005) Law on the Adoption and Implementation of United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (2001) Law on the Management of Quality and Safety of Products and Services (2000) Law on the Amendments of the Law on the Commercial Regulations and Commercial Register (1999)

12 Legal Framework for Trade Law on Foreign Exchange (1997) Law on the Chamber of Commerce (1995) Law Bearing on the Commercial Regulations and Commercial Register (1995) Law in progress: Law on Establishing Commercial Court Law on Anti dumping, Countervailing Duty and Safeguard Regulations on Sanitary and Phyto sanitary Measures (SPS) Law on Business Association, Cooperatives Law on Competition (Final Draft)

13 Cambodia s Integration into World Market Access to US and EUROPEAN market since 1996 (mainly textile) Asean 1999 WTO 2004 Membership of GMS, MIGA, ICSID, WIPO, WCO and other international organizations

14 Thank you for your attention អរគ ណ