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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.
Cambodia to apply laws on special economic zones ảnh 1The entrance of the Sihanoukville Special Economic Zone (Source: https://www.khmertimeskh.com/)

Hanoi (VNA) – The Cambodian government isworking on new laws to regulate special economic zones (SEZs) and investments,Prime Minister Hun Sen said.

Speakingat the 14th Cambodia Import Export One Province One Product Exhibition in KohPich on December 15, Hun Sen said the newlaws 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 effectiveregulatory framework to promote investment and modernisation, and enhanceindustrial productivity, he noted.

According to a recent report by theCouncil for the Development of Cambodia (CDC), there are 18 active SEZs in thecountry, 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 investmentflows have significantly contributed to expanding the country’s economic growthto 7 percent, and created about 15,000 jobs per year.

According to data from the Cambodian Ministry of Commerce, the 18 SEZs’ exportvalue hit 1.4 billion USD in 2018, up 18 percent year-on-year./. 
VNA
# Cambodian government#special economic zones#Hun Sen#industrial productivity#investment#Vietnamplus#Vietnam News Agency#Vietnam News
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