Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC) Monday called on relevant ministries to examine the possibility of optimising the Investment Project Application (IPA) by reconciling data with the CDC’s new system to improve convenience in attracting investors.
Addressing an inter-ministerial meeting to design a new system known as the IPA aimed at facilitating investors by integrating data-sharing systems between CDC and relevant ministries and institutions, Chanthol said the participation from inter-ministerial-institutions reflected the active performance in supporting the implementation of the strategic plan of the Royal Government of Cambodia (RGC) under the leadership of Prime Minister Hun Manet to efficiently attract investors aimed at boosting national economic growth, especially the exploitation of digital technology to facilitate in attracting investment.
Among those present on the occasion include Cham Nimul, Minister of Commerce (MoC), Chea Vuthy, Secretary General of the Cambodian Investment Board (CIB) of CDC, Kong Vibol, Minister attached to the Prime Minister and Delegate of the Royal Government in charge as Director General of the General Department of Taxation (GDT), Kun Nhem, Director General of the General Department of Customs and Excise (GDCE), Hor Sam Ath, Director General of the General Department of Digital Technology and Education of the Ministry of Interior.
Based on the CDC announcement, the meeting was organised to discuss and examine the possibility of promoting convenience for investors, especially to support the relevant ministries and institutions in managing and optimising the investment data by establishing the interconnection data with the CDC system.
The CDC announcement further said that all participants in the meeting exchanged views and agreed to support the design of the new CDC system following the ‘Law on Investment of the Kingdom of Cambodia’.
The relevant ministries and institutions committed to cooperate closely in the reconciliation of the data sharing system to push for maximum convenience for investors who wish to invest in Cambodia, the statement added.
Lor Vichet, Vice-President of Cambodia Chinese Commerce Association (CCCA) told Khmer Times, “Generally investors have three major concerns such as tax policies, labour productivity and export procedures which are the key factors to increase trade competitiveness regionally and globally.”
The economy of Asia will account for almost two-thirds of global economic growth. Cambodia needs a consistent flow of direct investments from multiple national and international investors to accelerate and diversify the national economy, serving the growing consumer markets of Asia, Europe and North America, he said.
https://googleads.g.doubleclick.net/pagead/ads?client=ca-pub-7981514788931893&output=html&h=280&slotname=4059842397&adk=134774828&adf=4070826611&pi=t.ma~as.4059842397&w=750&abgtt=1&fwrn=4&fwrnh=100&lmt=1723604764&rafmt=1&format=750×280&url=https%3A%2F%2Fwww.khmertimeskh.com%2F501540956%2Fgovt-calls-for-integrating-investment-data-into-cdc-system%2F&fwr=0&rpe=1&resp_fmts=3&wgl=1&uach=WyJXaW5kb3dzIiwiMTAuMC4wIiwieDg2IiwiIiwiMTI3LjAuMjY1MS45OCIsbnVsbCwwLG51bGwsIjY0IixbWyJOb3QpQTtCcmFuZCIsIjk5LjAuMC4wIl0sWyJNaWNyb3NvZnQgRWRnZSIsIjEyNy4wLjI2NTEuOTgiXSxbIkNocm9taXVtIiwiMTI3LjAuNjUzMy4xMDAiXV0sMF0.&dt=1723605072447&bpp=4&bdt=1315&idt=276&shv=r20240812&mjsv=m202408130101&ptt=9&saldr=aa&abxe=1&cookie=ID%3D4e6643967a8de2c3%3AT%3D1709085897%3ART%3D1723604948%3AS%3DALNI_MY8_1qBrY0M5DtuOkF7oEqQXJMk1g&gpic=UID%3D00000d1b2e9e831c%3AT%3D1709085897%3ART%3D1723604948%3AS%3DALNI_MZ7H9gctC-Gca3NI6lQo1RgC0aB0A&eo_id_str=ID%3D86805d0503405703%3AT%3D1709085897%3ART%3D1723604948%3AS%3DAA-AfjaRpnAeGsavC65xlRTp6qAR&prev_fmts=0x0&nras=1&correlator=679641720075&frm=20&pv=1&u_tz=420&u_his=1&u_h=864&u_w=1536&u_ah=824&u_aw=1536&u_cd=24&u_sd=1&dmc=8&adx=351&ady=2348&biw=1841&bih=935&scr_x=0&scr_y=0&eid=44759875%2C44759926%2C44759837%2C31085990%2C44798934%2C95334529%2C95334828%2C95337869%2C31086115%2C31084184%2C95339232%2C31084488%2C95336266%2C31078664%2C31078668%2C31078670&oid=2&pvsid=1058129725395183&tmod=1797741897&wsm=1&uas=0&nvt=1&ref=https%3A%2F%2Ft.co%2F&fc=1920&brdim=0%2C0%2C0%2C0%2C1536%2C0%2C1536%2C824%2C1860%2C935&vis=1&rsz=%7C%7CeEbr%7C&abl=CS&pfx=0&fu=128&bc=31&bz=0.83&psd=W251bGwsbnVsbCxudWxsLDNd&nt=1&ifi=2&uci=a!2&btvi=1&fsb=1&dtd=288
Vichet further said that the initiative to establish the IPA system, a new technology project by the RGC, will streamline the processes of application, documentation and tax procedure for investors, boosting export and import activities for the benefit of Cambodia’s economy as a whole.
