Cambodia gives aliens guarantees<\/p>\n
PHNOM PENH (Reuter): Cambodia's top investment body, trying to
\nease concerns stirred up by a big British firm's frustrated exit
\nfrom the country, has assured foreign investors of the
\ngovernment's full cooperation.<\/p>\n
The Cambodian Development Council (CDC) also said in a
\nstatement that foreign investment proposals would be dealt with
\npromptly.<\/p>\n
In a statement dated Nov. 18 but received late on Friday, the
\nCDC rejected a report by Inchcape Import Testing Services that
\nthe lack of an administrative framework had forced the closure of
\nInchcape's Phnom Penh Liaison Office.<\/p>\n
Inchcape Testing Services closed down its Cambodian operation
\non Nov. 11.<\/p>\n
CDC said the Inchcape deal had been terminated by First Prime
\nMinister Prince Norodom Ranariddh because "it had been issued
\nincorrectly without the knowledge or authorization of the
\ncountry's Minister of Commerce."<\/p>\n
The statement promised that companies which followed correct
\nprocedures could be sure of "maximum cooperation from Government
\ndepartments."<\/p>\n
The Council pledged that all foreign investment applications
\nwould be dealt with within 45 days of receipt and that following
\nthe promulgation of the new Investment Law in August the CDC had
\napproved projects exceeding US$300 million.<\/p>",
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