Solutions sought for Central Highlands firms in Cambodia

Enterprises in the Central Highlands region were offered a chance to meet and share the difficulties they are facing in operating in Cambodia on September 15.

According to the Steering Committee for the Central Highlands Region, there are now 45 firms in the region and southern Binh Phuoc province – mainly involved in rubber planting, wood processing and mining – running business in Cambodia’s northeast provinces with a total registered capital of 23 trillion VND (1.01 billion USD).

Most firms agreed that the legal environment is not favourable, as preferential policies for investors have not been implemented well and administrative procedures are relatively complicated.

Double taxation is also a disadvantage for them, they said, adding that weak infrastructure hinders trade exchange.

They proposed the Vietnamese Government, ministries and sectors design and issue mechanisms relating to foreign currency and credit while continuing to simplify paperwork to reduce the time spent on applying for investment licenses to Cambodia.

They also suggested the Government work with the Cambodian side to carry out specific regulations on labour cooperation, double taxation avoidance and decrease of visa fees for Vietnamese labourers working on projects in Cambodia.

Permanent Deputy Head of the steering committee Tran Viet Hung said that the proposals will be submitted to the Government and ministries to work out appropriate solutions.

The committee also asked for strengthened senior meetings and visits and the establishment of working groups to inspect the implementation of cooperation projects, he added.-VNA