EuroCham continues to work on new draft Law on Investment
- 28 October, 2020
- Posted by: EuroCham Cambodia
On 28 October 2020, EuroCham representatives participated in the Government-Private Sector Working Group D (GPSWG-D) meeting which was co-chaired by His Excellency Dr AUN Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance and His Excellency Bretton SCIARONI, President of the International Business Chamber of Cambodia. The purpose of this meeting was to gather input from all relevant ministries, business chambers, and private companies on the new draft Law on Investment which is scheduled to be finalised by the end of November this year.
The forthcoming Law on Investment aims to attract and promote investment in the Kingdom of Cambodia by providing, amongst others, a stable legal environment and a wide range of competitive benefits for investors. Moreover, the Law provides an opportunity to fully embrace in the legislation environmental, energy and climate targets.
As a representative of the European private sector in Cambodia, EuroCham welcomes the preparation of this new law. We are grateful to actively participate along with the consultative processes and to be able to voice the interests of our members. The new law will be a salient factor in maintaining and attracting investment in Cambodia, helping to overcome the negative effects of the COVID-19 global crisis and the partial withdrawal of the EBA-scheme. We will continue our work on this important step towards an even stronger investment environment in Cambodia, together with our partners and the Royal Government.