Cambodia is an open economic country with the best investment protection policy in the region, affirmed Minister of Commerce H.E. Pan Sorasak at a meeting here yesterday afternoon with a visiting delegation of the U.S.-ASEAN Business Council.
H.E. Minister also laid stress on the 100 percent foreign ownership policy and the non-discrimination against cross-border trade of Cambodia.
Besides, he informed his guests about the Royal Government of Cambodia (RGC)'s Rectangular Strategy, Phase IV, which focuses on reform to ensure socio-economic development with equity, and about the progress of e-commerce law drafting process.
Special characteristics of Cambodia, including its geographical location � in the heart of ASEAN � industrial development policy, young labour force, special economic zones, and Plus One project which give high flexibility to investors to use Cambodia's territory as a production base for export to international markets under different Generalised System of Preferences (GSP) provided by its partner countries, were highlighted on the occasion by H.E. Pan Sorasak.
H.E. Minister answered to all questions and requests from the delegation, and promised to help coordinating all issues so as to achieve a win-win situation for all, that is, investment to earn profits and equitable distribution of growth, reduction of negative impacts on environment, and ensuring of sustainable development in line with the Rectangular Strategy, Phase IV.
Mr. Michael W. Michalak, Senior Vice President and Regional Managing Director for the U.S.-ASEAN Business Council, who led the visiting delegation, thanked H.E Minister for sharing the information, thanks to which his delegation learn more about the RGC's policy and vision as well as investment potentials in prioritised sectors such as economy, energy, environment, health infrastructure, culture, agriculture and human resource development.
Source: Agency Kampuchea Press