Prime Minister Hun Sen, in his capacity as the 2012 ASEAN chair, has
called for investors within the ASEAN member states as well as around the globe
to invest in Cambodia in various sectors, particularly agriculture, food
processing and manufacturing.
The premier made the appeal on
Saturday during the second day of the ASEAN Business and Investment Summits in
Phnom Penh, in which more than 900 business people, ASEAN delegates and
economists participated.
He said Cambodia has the most
open economic policy, compared to others in the region, by allowing investors
some tax incentives and the ability to enjoy free capital flow.
“Since 1993 Cambodia has tried to
set up an investment climate which is the most open in the region by providing
tax incentives for both local and foreign investors in order to open its
markets,” he said.
Cambodia’s minister of commerce
Cham Prasidh said that over the course of two days there would be a
business-to-business dialogue, a governments-to-business dialogue and an
international organisations and governments to business dialogue alongside the
21st ASEAN summit in Phnom Penh.
“The business summit will
certainly add a significant dimension to the ASEAN summit as it will provide a
platform for leaders and ministers to directly engage with business leaders,
and for business leaders to be better informed about the policy agenda and to
profile their interests,” he said.
Kith Meng, president of
Cambodia’s Chamber of Commerce and chair of the ASEAN Business Advisory Council
in 2012, said this is the right time for businesses to explore Cambodia, a
country of pro-business policy and economic stability.
“The business summit aims to
promote private sector growth in one of the most prosperous regions of the
world as well as realise the dream of an ASEAN economic community by 2015,” he
said.
Kith Meng said ASEAN sits at the
very heart of Asia. If ASEAN were a single country, it would be the world’s
ninth largest economy, with close to 10 per cent of the world’s population and
a GDP $1.9 trillion.
“ASEAN is both a market for the
developed world’s products and the location of their production facilities,” he
said.
May Kunmakara
Business & Investment Opportunities
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