The Hindu : National : Cambodia invites Indian investments

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Sunday, Dec 09, 2007
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Cambodia invites Indian investments

Special Correspondent

NEW DELHI: Cambodia on Saturday asked India Inc. to avail of the investment opportunities it offered in the fields of agriculture, IT and infrastructure particularly in view of the liberal policy structure that allowed foreign firms to independently conduct business at a lower cost.

“We have adopted a liberal policy structure for economic development. We provide national treatment to foreign firms under which they enjoy the same rights as domestic investors,” Cambodian Prime Minister Hun Sen said addressing the captains of Indian industry at a session organised by apex industry chambers here.

On a four-day visit to India, Mr. Sen said firms could set up shop in Cambodia on their own and need not partner with a local company as his country is promoting private participation in industrial and services sector.

Also in case of local participation, the foreign investor can choose the level of equity it wants to hold, he added.

Identifying areas which had potential for beneficial investments, he said, “there is a huge potential for Indian firms to invest in sectors such as agriculture, food processing, tourism, mining, manufacturing, services and natural resources.”

Observing that his country has streamlined procedure to facilitate private investment in key sectors besides reducing cost of doing business, he emphasised that Cambodia is keen to attract as much foreign direct investment as possible from countries like India. This is important for the development of Cambodia, he said.

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