Cambodia & Investment: CDC and relevant institutions discuss new investment project application

A discussion was held between the Council for the Development of Cambodia (CDC) and relevant government institutions regarding a new investment project application (IPA). The objective of this discussion was to examine the possibility of enhancing the convenience for investors who are interested in investing in Cambodia.

The discussion was spearheaded by H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the CDC, and attended by H.E. Mrs. Cham Nimul, Minister of Commerce; H.E. Kong Vibol, Minister Attached to the Prime Minister and Director General of the In attendance were representatives from the Ministry of Economy and Finance's General Department of Taxation, H.E. KUN Nhem, Minister Attached to the Prime Minister and Director General of the Ministry of Economy and Finance's General Department of Customs and Excise, and numerous other senior officials and representatives from relevant government ministries and institutions.

The meeting, held at the CDC's headquarters on 12 August, also sought to facilitate the relevant ministries and institutions in the management and enhancement of the efficacy of updating investment-related data through IPA between the CDC's system and those of the ministries and institutions concerned.

In his remarks, H.E. SUN Chanthol expressed gratitude for the active idea sharing among the participating ministries and institutions and their support for the implementation of the Royal Government of Cambodia (RGC)'s strategic plans to enhance the efficiency of attracting investors and stimulate the national economy, particularly through the utilisation of digital technology to facilitate investor attraction.

The meeting reached a consensus on the necessity of developing the CDC's new technological system in accordance with the Law on Investment of Cambodia. Furthermore, the participants pledged to collaborate closely in IPA, with the objective of providing maximum convenience for all investors in Cambodia. This collaboration is intended to facilitate the achievement of the RGC's vision of transforming the country into an upper middle-income economy by 2030 and a high-income nation by 2050.