I take great pleasure in introducing you to one of the pioneer Special Economic Zones in Cambodia: the Phnom Penh SEZ (PPSEZ). With its first class infrastructure which includes, inter alia, a reliable power supply, a waste water treatment facility, a fast telecommunications network, a "one-stop service" for your imports and exports activities. the PPSEZ has also been designed to occupy a strategic place in Cambodia's fast growing economy. Conveniently located in the heart of Cambodia at around 18 km from the Capital-city of Phnom Penh, just 8 km from the Phnom Penh International Airport and linked to the deep sea port of Sihanoukville by Highway #4 and by a railway line, PPSEZ is going to be the most convenient place for you to capitalize on the many opportunities offered by Cambodia.
Despite its limited domestic market of 13.5m people, Cambodia has emerged from decades of unrest and civil strife as one of the safest places and one of the fastest growing economies in the region. Last year's GDP growth of 13.1% has beaten all expectation. By optimizing its membership in ASEAN (1999) and in the World Trade Organization (2004), Cambodia has made tremendous efforts in quickly integrating its economy into the regional and global trading system. This is one of the 3 Least-Developed Countries (LDCs) in ASEAN that has been able to maximize its status as an LDC.
Cambodia's export products enjoy duty-free and quota-free (DFQF) treatment to the European Union (except for weapons and ammunition), to Canada (except for dairy products and eggs), to Australia, to New Zealand and to Norway. It also enjoys DFQF for more than 8,000 tariff lines of the USA, Japan, the Republic of Korea and China have also extended similar treatment for many products from Cambodia. ASEAN's original 6 members have also extended duty-free access to Cambodia products under the ASEAN Integration System of Preferences (AISP).
Therefore, producing in Cambodia for export to the above markets is the most economic way and the fastest way for you to propel your company's products to the world market.
The Council for the Development of Cambodia (CDC), chaired by H.E. Samdech Hun Sen, Prime Minister of the Royal Government of Cambodia, has 2 arms to deal with private investments:
- the Cambodia Investment Board (CIB) with its 24 provincial/municipal investment sub-committees(all equipped with “one-stop service”) responsible for investments in Cambodia, and
- the SEZ Committee with its “one-stop service” chaired by the Prime Minister himself, responsible for especially addressing investments in the Special Economic Zones (SEZ).
On top of this structure, your grievances and your concerns will also be addressed in a government-private sector forum held every 6 months under the chairmanship of the Prime Minister and with the presence and interaction of all members of the Royal Government.
With such a receptive Government, with a quite good political stability, with a quite good macro-economic stability, with a reasonably sound, transparent and predictable legalframework, and with such exciting trade preferences as offered to you in Cambodia, why not investing now?
The Japanese-designed PPSEZ is certainly a prime place for you to explore and to prosper. I am looking forward to welcome you to the Land of Angkor Watt, one of the Seven Wonders of the World!
