New Draft Law on Investment Discussed

The Council for the Development of Cambodia (CDC) is collecting inputs for the new draft law on investment elaborated in response to regional context and the country's real needs.

The new draft law on investment was discussed in a consultation meeting held here early this week under the chairmanship of H.E. Sok Chenda Sophea, Minister attached to the Prime Minister and CDC Secretary General, with the participation of 70 representatives of private sector, development partners, research institutions and legal advisory firms, according to a news release of CDC.

H.E. Sok Chenda Sophea underlined the efforts of the Royal Government of Cambodia in improving business environment in the country, and the necessity of having an attractive, comprehensive and highly competitive law on investment.

So far, he pointed out, CDC has got some inputs from Japan International Cooperation Agency (JICA), the Organisation for Economic Co-operation and Development (OECD), and the International Finance Corporation (IFC).

The current Law on Investment entered into force in 1994 and was amended in 2003 in accordance to the economic and social evolution at that time.

Source: Agency Kampuchea Press

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