Overview
Cambodia's rich forest resources, timber reserves of more than 1100 million cubic meters, more than 200 kinds of wood types, rich in teak, rosewood, ebony, rosewood and other precious tropical forests. Cambodian fisheries resources are also rich in Southeast Asia, Tonle Sap Lake is the largest natural freshwater fisheries.
Cambodia beam transport to the main road and inland water transport. King Harbor is an important foreign trade port beam, the railway only in Phnom Penh - Battambang and Phnom Penh - Sihanoukville two. Road, rail has been a long-term war seriously damaged, in urgent need of repair and reconstruction.
The new Government of the Kingdom of Cambodia was founded, committed to the development of national economy and improving people's lives and practices a free market economy and promote private economic development, the initial economic recovery. At present, apart from a small number of industrial enterprises is still subject to government control, most of the other enterprises have been leased or sold to the private sector. In 1997, the impact of the Asian financial crisis, the inflation rate beam Cambodia rose to 9.2% in Cambodia and the U.S. dollar currency exchange rate fell to 3500:1 from 2700:1. As of the end of that year, the Cambodian foreign debt of about 1.3 billion U.S. dollars, 263 million U.S. dollars of foreign exchange reserves.
Cambodia's agricultural output value of the gross national product accounted for 46%, the main agricultural products are rice, cassava, corn and other cash crops are rubber, pepper, cotton, brown sugar, soybean, tobacco and cannabis and a variety of tropical fruits. Weak industrial base in Cambodia, the original number of mainly small-scale industrial processing, assembly industries, over a long period of war, at present most of the aging plant equipment, technological backwardness, lack of raw materials, spare parts and capital are also desperately short of electricity, not for production. But in recent years, foreign investment in Cambodia to build a number of large textile and garment (the garment industry in Cambodia in 1997 the output value of industrial output value accounted for 51%), wood processing and building materials enterprises.
Cambodia's main export goods include: wood, rubber, rice, clothing, agricultural products and aquatic products. Singapore, Thailand, Hong Kong, China, Vietnam, Malaysia, Cambodia and China are major trading partners at present.
"Investment Law of the Kingdom of Cambodia," the main content
Promulgated in August 1994 the "Kingdom of Cambodia Investment Law", in order to provide a range of foreign investment on favorable terms and the necessary legal protection.
1, the application procedures for investment
Cambodia Development Board is responsible for the restoration, development and investment management sector, the Committee set up under the rehabilitation and development, the Cambodian Investment Committee two bodies. Beam Cambodia Development Board is responsible for receiving and reviewing investment applications submitted by investors. The Council received information from a complete application from the date of the investment must be made within 45 days of the decision.
2, investment protection
In addition to the Constitution of the Kingdom of Cambodia, the provisions relating to land ownership does not apply to foreign investors, all investors, regardless of nationality and of all ethnic groups, are equal before the law. No damage to the Government of the Kingdom of the nationalization policy of the interests of investors. Has been approved for investment projects, the Government of the Kingdom do not price their products or services to manage the price. According to the law and the National Bank of Cambodia, published by the relevant provisions of Government of the Kingdom of the banking system to allow investors to buy foreign exchange from abroad for the liquidation of its
Debt-related investment activities. Over the liquidation include the following: payment of imports and loans together with interest even abroad; to pay various expenses, costs of taxation and management services; the transfer of profits; will be remitted to foreign investment capital.
3, investment incentives
The Royal Government of Cambodia to encourage investment in the following key areas: pioneer industries or high-tech industries; to the industry to create employment opportunities; to increase exports of the industry; the tourism industry; agro-industry products processing industry; the construction of infrastructure and energy production; the development of the provinces and rural and environmental protection industries as well as the establishment of a special development zone in accordance with the law of investment.
Preferential policies to encourage investment in whole or in part is exempted from tariffs and other tax. The main incentives are as follows:
- Net profit for the application of preferential tax rate (9%), but does not include the country's natural resources, forests, oil, gold and precious stones, such as the exploration and exploitation of profits tax, such tax will be provided for other laws.
- Based on the conditions of each investment and the Government of the Kingdom of the Cabinet incentives Act, profits from the first run of the year can be exempted from profit tax for up to 8 years. Such as a loss of 5 consecutive years, its loss will be allowed to offset profits. If investors reinvest their earnings, their earnings may be exempt from tax.
- The allocation of investment earnings, whether abroad or in the allocation of Cambodia, are not taxed.
- Imports of construction materials, means of production, a variety of materials, semi-finished products, raw materials and spare parts required are those who belong to the following investment projects are exempted from its 100 percent tariff and other tax: accounting for more than 80% of products for export and investment projects published in the Cambodia Development Council, giving priority to the development of the special investment zone (more than two types of exemption from import tax for the period and investment must always be the responsibility of the contract and investment by the deadline set by the book in line), tourism industry, labor-intensive industries ,
Processing industries and home industries, infrastructure construction and energy production (the above four categories of investment preferential import duty exemption is limited to the production of plant stage and the beginning of the first year).
- Exports, exemption from export duties.
- Allow the following identity of the Kingdom of Cambodia for foreigners to stay: business and professional management staff, technical staff, professional and technical workers as well as the development of the Council of Cambodia, according to immigration law and labor law approved by the relevant provisions of the spouse of the above-mentioned persons and other family members .
4, Cambodia Development Board for its approval and investment incentives, may not be transferred or sold.
5, land ownership and use. For investment in land ownership, must be nationals of Cambodia investor-owned natural or legal persons. Corporate membership of Cambodia Cambodia investors who refers to individuals or legal entities share in the investment business more than 51% of the shares of legal persons. But investors may be long-term leases, use of land. Term of up to 70 years can apply for an extension of the expiration.
6, the use of labor. Investors in Cambodia with its labor law and immigration law, freedom of choice and the employment of foreign nationals or staff in Cambodia. However, employment of foreign investors, employees must meet the following conditions: Cambodia, it is difficult to recruit citizens of good character, talent and expertise of staff; investors who have an obligation to give to the Cambodian regular and appropriate training; staff to enhance the quality of Cambodian nationality, to enable them to attain senior positions; foreign staff after tax, will be allowed through the banking system in Cambodia achieved its income abroad.
7, other provisions. Investors who wish to end its investment activities in Cambodia, or in person must be submitted by registered letter notify the Cambodian Development Council. The letter must be from the investors or companies autographed Plenipotentiary, and the reasons for the end of the investment.
If not through legal proceedings to dissolve the company or companies, investors in the Cambodian Development Council to provide its creditors, the prosecution and the economy the Ministry of Finance documents to prove that all the debt problem has to settle before the law are not allowed in accordance with the formal dissolution of the business of its enterprises.
Be allowed to formally dissolve the business when the investors of surplus property can be transferred abroad or in the use of Cambodian territory. Tax as it was duty-free import of goods the import of equipment using elapsed 5 years, investors must pay taxes in accordance with existing laws.
As of the end of 1996, Cambodia approved a total of 3.36 billion U.S. dollars of foreign investment, the larger investment in the country region: Malaysia, Singapore, France, Taiwan, the United States, Thailand, China and so on.
Cambodia on China's enterprises to carry out the recommendations of the processing trade
Cambodia has entered over a period of peace is restored, the Government is cutting the army, a large number of veterans into the labor market, the Government needs to create more job opportunities. After long-term war-torn Cambodia, the new Government of the Kingdom is committed to developing the national economy and improving people's lives, political stability in Cambodia after the war, joining the ASEAN, China friendly for Chinese enterprises to enter the Cambodian market to provide a good opportunity.
1, superior natural conditions in Cambodia, a large number of idle land, agriculture, extensive management, lack of agricultural technology. I can make use of China's agricultural technology, machinery and equipment and management experience, play to our strengths, in rice, rubber, cassava, sugar cane and sugar, such as the establishment of cooperation with Cambodia, and in agricultural development based on the development of processing industries.
2, start-up clothing, shoes, plastics, toys, daily necessities, such as assembly of agricultural machinery processing enterprises, as well as forest products, aquatic products processing enterprises, both inside and outside sales in Cambodia.
3, the market contracted labor service cooperation has broad prospects. In the international community for their help and support of Cambodia is to rebuild the country. Western countries and Southeast Asian countries into the Cambodian market is. China's enterprises can make use of international organizations and funds, I open up aid to Cambodia Cambodia contracting labor market.
4, the tourism industry is the Cambodian government give priority to the development of the industry. Investment in Cambodia, catering, hotels, tourism prospects processing supplies.
5, I engage in trade with Cambodia, Hong Kong or Singapore to be transferred from the ship, the higher freight. The proposed business before the goods sent to Vietnam Ho Chi Minh City, and then crossing by land or by river to the Cambodia-beam, can reduce the freight charges by around 60%.
6, do a good job in Cambodia in particular, Chinese partners credit partners, it is recommended solely out more and less engaged in the joint venture.
7, some unscrupulous traders in Cambodia often used T / T, I trust the long-term fraud or bilk money owed. China's business and trade letters of credit clearing in Cambodia, it is best used by a third country bank confirmed the payment.