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Wednesday, April 27, 2011

Prime Minister's Message...

Prime Minister's Message...

Cambodia has gone through a rapid transition; starting from scratch after the civil war to the current situation in which the country enjoys peace, political and macro-economic stability and social progress. This favourable environment is a prerequisite for the future growth and prosperity of Cambodia.

Based on this solid foundation, Cambodia has integrated itself into the region and the world and engaged in both bilateral and multilateral cooperation, with special emphasis placed on establishing political, economic, cultural, trade and investment ties.

The Royal Government of Cambodia welcomes public private partnerships in Cambodia; the government pays great attention to the business environment and promoting private sector competitiveness. The Royal Government considers the private sector to be the engine of growth, with its own role that of strategist and manager of the development, to ensure stability, transparency and predictability.

In this spirit, in 1999 the Royal Government initiated a dialogue mechanism – the Government-Private Sector Forum (G-PSF) – whose role it is to provide a forum for consultation with the private sector on new initiatives of the government, and to provide a mechanism to address issues faced by the private sector in its operation.

The Government-Private Sector Forum is held twice a year under my chairmanship and its deliberations are considered akin to an enlarged cabinet meeting. Since its inception, the Forum has been convened 14 times. Through this mechanism, the Royal Government has resolved many business and investment issues and I strongly encourage investors in Cambodia to participate actively in this dialogue mechanism.

Cambodia has opened its economy for Foreign Direct Investment (FDI) in all sectors including banking, insurance and telecommunications. Unlike in other countries, investors in Cambodia are allowed to control 100 per cent of the shareholding, without local participation requirement.

We are strongly committed to pursuing our efforts to improve the investment environment in order to make Cambodia an attractive FDI destination within the region. Indeed, the economic development of the country requires the concerted efforts of the government, the business community and development partners. Along with our efforts to provide an enabling environment by focusing on the streamlining of legal and administrative procedures, the reduction of business transaction costs and the fight against corruption, the Royal Government has recently adopted concrete measures and made further efforts aimed at attracting FDI.

The Royal Government has embarked on multiple reform programmes including public financial management, governance on land management, public administration, and legal and judiciary procedures. Concerning the latter, the Royal Government has achieved encouraging progress, and numerous trade and investment related laws have been adopted and implemented.

We recognise that still more needs to be done and we are fully aware that many challenges are ahead of us, but our successful past experience tells us that Cambodia is moving in the right direction. Lessons drawn from our past shortcomings will help us to overcome the obstacles and challenges in our journey towards a better future.

Cambodia offers many investment opportunities in sectors such as agriculture, agro-industries, infrastructure, labour intensive industries, export oriented industries, oil and gas, mining and tourism.
As an agricultural country, Cambodia welcomes investment in infrastructure, technological transfer and technical assistance in order to improve agricultural productivity. To avoid food shortages in the future, technology will play a crucial role as it leads to the improvement of agriculture productivity.

Cambodia is self-sufficient in rice and exports it surplus, but our nationwide fertile land has not been used to its maximum potential yet. With sufficient investment to improve agriculture productivity, Cambodia can become a key rice supplier for the region and the world.

Despite remarkable progress, more attention also needs to be given to the strengthening of partnerships in energy development and tourism development in order to overcome the challenges of the global financial crisis. Cambodia welcomes investment in the energy sector to secure the pace of economic development both within the country and the region.

Cambodia is busy reconstructing and improving its transportation networks, providing clean water supplies, improving electricity supplies, and developing its nationwide telecommunications network. None of which would be possible without foreign investors and the assistance of our development partners.

To promote the tourism sector in the face of the global financial and economic crisis, I have made recommendations in relation to boosting market research and advertising, improving visa procedures and transportation, strengthening the development of human resources, and improving the environment of key tourist locations. We are also striving to develop tourism by organising more tourism, cultural, sport and religious events such as the Johnnie Walker Cambodian Open - an international golf tournament held annually in Cambodia, Angkor Wat International Half Marathon, and a triathlon. Cambodia is also hosting the Asean Tourism Forum in 2011.
The launch of direct flights from the Philippines to Cambodia in early 2010; increasing the number of Bangkok to Siem Reap flights; a visa exemption agreement between Cambodia and Thailand; the adoption of a single visa policy; the restoration of the Poipet to Siem Reap road (used by many tourists and freight companies travelling from Thailand to Siem Reap); are all initiatives that will bring about a huge increase in the number of tourists visiting Cambodia over the coming years.

With overland border crossings in mind, I would like to appeal to the officials stationed at all border checkpoints to better facilitate the journeys and transportation of tourists. Obviously, past experience indicates that easing transportation by land is very important to attracting more tourists and trade, especially during a period of crisis.

Cambodia welcomes the concept of Asean Connectivity. The completion of physical infrastructure such as road, rail, air and sea linkages within the Asean region which runs through Cambodia, Laos, Vietnam and Myanmar is vital, because the appraisal of this connectivity will bring benefits to all member states of Asean by boosting trade, investment, tourism and regional development. Narrowing the development gap should remain our top priority in order to ensure the complete realisation of Asean integration.

Cambodia has developed from ground zero to a country that enjoys peace and security, and an investor friendly outlook. Prosperity still eludes us, but through the strength and determination of the Cambodian people, combined with the assistance of our development partners and sound leadership, Cambodia has risen from the abyss; and the favourable environment we enjoy today is a prerequisite for the future growth and prosperity of this Kingdom.

Prime Minister Samdech Hun Sen

Source: Invest in Cambodia, http://www.investincambodia.com/default.htm

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