Cambodia to apply laws on special economic zones
The Cambodian government is working on new laws to regulate special economic zones (SEZs) and investments, Prime Minister Hun Sen said.
The entrance of the Sihanoukville Special Economic Zone (Source: https://www.khmertimeskh.com/)Hanoi (VNA) – The Cambodian government is working on new laws to regulate special economic zones (SEZs) and investments, Prime Minister Hun Sen said.
Speaking at the 14th Cambodia Import Export One Province One Product Exhibition in Koh Pich on December 15, Hun Sen said the new laws are expected to attract investment to the country by providing incentives, enhancing transparency, and promoting fair competition.
The objective is to establish a transparent, favourable and effective regulatory framework to promote investment and modernisation, and enhance industrial productivity, he noted.
According to a recent report by the Council for the Development of Cambodia (CDC), there are 18 active SEZs in the country, most of them are in border areas with Vietnam and Thailand.
The Khmer Times quoted Vice General Secretary of CDC Chea Vuthy as saying that investment flows have significantly contributed to expanding the country’s economic growth to 7 percent, and created about 15,000 jobs per year.
According to data from the Cambodian Ministry of Commerce, the 18 SEZs’ export value hit 1.4 billion USD in 2018, up 18 percent year-on-year./.
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