Cambodian to have bright future<\/p>\n
PHNOM PENH (Reuter): Cambodia's First Prime Minister Prince
\nNorodom Ranariddh said yesterday 28,000 jobs had been created by
\nnew foreign investment in his country since August and more
\ninvestment was being planned.<\/p>\n
\"I think the future of Cambodia is very bright. I sign every
\nweek more than 10 investments,\" Ranariddh told diplomats,
\ngovernment ministers and foreign businessmen at the inauguration
\nof a Malaysian-owned garment factory.<\/p>\n
More than US$2 billion of investments have been made since the
\ncountry's parliament adopted a foreign investment law last
\nAugust, he said.<\/p>\n
\"This law has been well received by national and international
\ninvestors,\" he said.<\/p>\n
\"Five months after this law (was) passed by the National
\nAssembly more than $2 billion of invested capital has been
\ncommitted which will create more than 28,000 jobs for the people
\nof Cambodia,\" he said.<\/p>\n
He promised to eliminate the red tape that delays foreign
\ninvestment.<\/p>\n
Chia Weng Leong, group financial controller of Cambodia
\nGarments Ltd., which invested $8 million in the factory, also
\npraised the new investment law.<\/p>\n
\"There's a better law now giving more benefit to foreign
\ninvestors,\" he told reporters. \"Now you can see everything is so
\nmuch better.\"<\/p>\n
His factory, which will export garments to Canada, Australia
\nand the United States, employs more than 800 Cambodians and the
\nwork force was expected to rise to 1,500 by June, he said.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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