All-China Federation of Industry & Commerce (ACFIC) Interested to Invest in Cambodia
A delegation of ACFIC led by Mr. Sun Anmin met H.E Nguon Meng Tech, director general of Cambodia Chamber of Commerce (CCC), at the head office on May 31, 2010. The purpose of the visit was to gain understanding on investment environment and business potentials in Cambodia, and to establish cooperation with CCC. Mr. Sun Anmin said that Chinese government encourages and supports the overseas investment. ACFIC interests in investing in Cambodia. ACFIC delegations have visited some Chinese enterprises in Cambodia, especially the ones in Sihanoukville. Now, the delegation would like to know more about Cambodia.
H.E Nguon Meng Tech, director general of Cambodia Chamber of Commerce, said that 80% of land in Cambodia are available for agriculture-related investment such rubber and cassava plantation. The land concession in Cambodia is obtained from the government for the duration of 75 to 99 years. Currently, the priority sectors of the royal government are (1) agriculture, (2) tourism, (3) small scale manufacturing, and (4) construction. For agriculture sector, if the investors register through Special Economic Zone (SEZ), they get 100% tax free. Today, there are over 20 SEZ’s throughout Cambodia. At SEZ investors could get one stop service for their investment application. Additionally, one of favorable incentive policies for investors is that Cambodia put no restriction on profit. Investors could bring home all money they made here. H.E Nguon Meng Tech encouraged the Chinese investors to invest in Cambodia. He briefed the delegation on the overview of CCC and its roles and responsibilities. And said, CCC is pleased to help and support them in any ways possible. ACFIC and CCC considered this meeting as a starting point for further cooperation.