In cooperation with ASEAN-Japan Center, Japan International Cooperation Agency (JICA), and Japan External Trade Organization (JETRO), Council for the Development of Cambodia (CDC) successfully held a seminar to promote foreign direct investments in Cambodia. The seminar started at 13:30 (Japan time) and ended at 16:20 at Osaka Granvia Hotel located in the center of Osaka city, Japan. The seminar was chaired by H.E Mr. SOK Chenda Sophea, Minister attached to the Prime Minister and Secretary General of CDC.
Approximately 150 representatives from different Japanese companies, ranging from the medium ones to the giant ones.
H.E SOK Chenda Sophea, along with experts from JICA and JETRO, and representatives of AEON Mall, Co., Ltd, Sumi (Cambodia) Wiring Systems Co., Ltd., SWANY Corporation and Yusen Logistics Co., Ltd, made presentation on investment environment and opportunities in Cambodia. In his presentation, the Secretary General explained to the Japanese business people that there are a number of reasons for Japanese companies to consider investing in Cambodia in comparison to its neighbors. He pointed out that Cambodia’s open economy, sound macroeconomic environment, competitive investment incentives, one-stop window and service, low labor costs, strategic location of Cambodia, preferential trading status that Cambodia gets from other countries and its access to ASEAN and the world’s markets made Cambodia the most appropriate country for Japanese investments.
The Secretary General also put emphases on three main advantages that Japanese investors can take into account and invest in Cambodia. These advantages include: (1) investments incentives provided under Cambodian investment law and regulations, (2) assurance of equal treatment on national and foreign investments, and (3) preferential access of Cambodian-made products to the world’s markets that include the US markets, European Union’s markets and of course the ASEAN’s ones.
Under the investment law of Cambodia, all investors, without any distinction between national and foreign ones, are equally treated and protected. The law requires no local equity participation; thus, foreign investors can put up to 100% of their capital in an investment project. The law guarantees the non-control on the pricing of the products and services made and provided by any company, as well as the assurance that there is no restriction on forex convertibility and the free remittance of foreign currencies abroad.
In addition to the guaranty provided by Cambodian investment law as listed above, the investors may also enjoy up to 9 years of tax holidays and full import duty exemption provided by the government of Cambodia.
It is noticeable that since second half of 2011, Japanese investments in Cambodia have sharply increased, meanwhile more investors are interested in visiting Cambodia to seek for the investment opportunities. Giant Japanese companies such as AEON Co., Ltd and Sumi (Cambodia) Wiring System Co., Ltd have already located their businesses in Cambodia. The recent boom of Japanese investments in Cambodia proves that the decade-long concerted effort of the Royal Government of Cambodia, led by Samdech Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, with their Japanese counterpart have now borne fruits.
In his capacity as the Secretary General, Mr. SOK Chenda Sophea claimed that CDC is committed to providing the best services to all investors to ensure their satisfaction to the maximum level.