Cambodia establishes special economic zone in Preah Sihanouk
Cambodia has decided to establish a special economic zone in Preah Sihanouk province in an attempt to attract investment and develop its economy as the ASEAN Community forms by the end of this year.
Central area of Preah Sihanouk province (Source:Internet)
Cambodia has decided to establish a special economic zone in Preah Sihanouk province in an attempt to attract investment and develop its economy as the ASEAN Community forms by the end of this year.
According to the Council for the Development of Cambodia (CDC)’s General Secretary Sok Chanda Sophia, the province will be developed to become a driving force for the country’s industry since it is a convergence of all favourable conditions for economic development and investment attraction.
Cambodia has so far set up 30 special economic zones nationwide, but only 13 of them are operating with 215 companies in the fields of electronic assembling, garment and footwear.
Insufficient capital and underperforming infrastructure have hindered the operation of most of the economic zones.
Xavier Forneris, investment specialist from the World Bank, said the Cambodian government should focus on retaining investors after their initial capital flow into the country to ensure stable and sustainable foreign investment.
According to a statistic from the CDC, total investments in the country hit 3.9 billion USD in 2014, with China, Malaysia and Japan being the three biggest investors with 953 million USD, 85 million USD ๊and 67 million USD, respectively.-VNA
The flow of foreign direct investment in Cambodia dropped by 50 percent in the first six months of 2009 compared with the same period last year, local officials have said.
Vietnam ’s Five Star International Group is planning to build a 65-million-USD fertiliser plant in Cambodia , Vietnam ’s trade mission in Cambodia said.
Leaders of the southern Kien Giang province and Cambodia’s Preah Sihanouk province have signed an agreement on multifaceted cooperation in the 2013-2014 period.
The National Assembly of Cambodia on April 3 ratified a protocol on the investment promotion and protection agreement between the governments of Cambodia and Vietnam.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Central area of Preah Sihanouk province (Source:Internet)
