Cambodia Holds Investment Forum
On January 22, 2015, the Ministry of Commerce of Cambodia in partnership with International Chamber of Commerce of Switzerland hosted an investment forum with over 100 investors from Asia, Europe, Switzerland and the U.S.
The forum entitled “New Era of Opportunity, Growth, Changes, and ASEA Integration” aims to expand various sectors with special highlights on Cambodia’s economic capacity and investment opportunities. During the investment forum, it was announced that Cambodia is set to implement the Industrial Development Policy. This initiative aims to develop policies on foreign investment as it is seen as a sustainable driving force of the country’s economy.
The country has also been reforming in preparation for industrial development. Its workforce is generally made up of young labor, and the country has a good economy with stable politics, and sustainable economic growth per year.
In his opening speech at the forum, Prime Minister SamdechTecho Hun Sen of Cambodia has stated that Cambodia is also keen on amending laws on taxation and investments. It has also improved reforms on governance strengthening for more reliable, efficient, and responsive state institutions.
Tonle Sap Road to be Paved
An estimated 1,200 kilometers of roads within nine provinces around Tonle Sap will be paved in a $121 million project. This was announced by the Ministry of Rural Development to alleviate the rural farmers’ way of living and to minimize migration.
The dual bituminous surface treatment will be used to construct the roads as this considered more durable and long lasting. Five-hundred kilometers of road has already been constructed previously, and with this 1,200-kilometer addition, rural areas will now be connected to provincial towns.
New Village Movement Selects 30 Villages as Part of its Pilot Project
A pilot project based on the New Village Movement of South Korea has selected 30 villages in Cambodia to participate in a rural development program. These villages can be found in the provinces of Kampong Speu, TbaungKhmum, and Takeo. This project is in coordination with the Korea International Cooperation Agency (KOICA) and Cambodia’s Ministry of Rural Development.
In line with this, the Ministry of Rural Development has allocated 5 hectares of land in the province of TbaungKhmum for the construction of the project. Ms. BaekSook-hee, KOICA Cambodia representative, promised to ask the assistance of Korean experts to study in detail the various rural development policies of Cambodia.