Investment in Cambodia

Wed, 07 Dec 1994 | Source: REUTERS

PHNOM PENH (Reuter): The Cambodian government is on the verge of approving foreign investment projects worth about US$20 million, the spokesman for the Cambodian Development Council (CDC) said yesterday.

CDC press office chief Dale Lawrence said the government was expected to approve the investment deals soon but gave no further details on the projects.

The CDC, which oversees all foreign investment, has reported wide business interest in war-torn Cambodia since MPs approved a generous investment law in August. The law includes nine per cent corporate tax and land leases of up to 70 years.

Cambodian Prime Minister Prince Norodom Ranariddh, who also heads the CDC, has said contracts signed under the investment law could top $800 million by the end of the year.

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