Prime Minister Hun Manet (right) greets Mehmet Celepoglu, Executive Vice President for Oceania and Southeast Asia, TotalEnergies, at the Peace Palace in Phnom Penh, on Wednesday. KT/Tep Sony
A multinational energy company with a global presence in various energy sectors, Wednesday praised the Royal Government of Cambodia’s (RGC) efforts in reforming tax policies and promoting transparency and competition.
Mehmet Celepoglu, Executive Vice President for Oceania and Southeast Asia at TotalEnergies, led a delegation to pay a courtesy visit to Prime Minister Hun Manet at the Peace Palace, on February 26.
During the meeting, Celepoglu thanked the Premier for the opportunity to discuss future cooperation plans, highlighting a successful international operations and positive business performance in Cambodia.
He also shared the company’s vision for the future, emphasising the importance of continued collaboration for mutual growth and development.
Celepoglu praised the Kingdom’s favourable investment climate and expressed interest in the comprehensive policies and initiatives introduced by the Royal Government under Prime Minister Hun Manet’s leadership.
He specifically highlighted the tax reform program, noting its critical role in promoting transparency and ensuring fair competition in creating a conducive environment for sustainable business growth in Cambodia.
Mr Hun Manet expressed appreciation for TotalEneriges’ contribution to the Kingdom’s socio-economic development.
Regarding tax reform, the Premier briefed the policies and incentive packages introduced by the Royal Government to foster growth, emphasising that these measures are crucial in ensuring a favourable investment environment, benefiting both international and domestic investors.
“The efforts are focused on encouraging investment in Cambodia, ensuring the success of businesses and enhancing the country’s competitiveness both regionally and globally,” he added.
Mr Hun Manet urged to maintain close collaboration with relevant ministries and institutions to address challenges and ensure future success.
Speaking to Khmer Times, Mean Sovannarith, Co-Founder and CEO of DeGrand Realty Co Ltd, noted that Cambodia’s rules, regulations and tax policies are particularly attractive to investors, regardless of race or nationality, especially under the leadership of Prime Minister Hun Manet.
He pointed out that the government has introduced numerous incentive packages aimed at encouraging investment not only in the energy sector but also across various industries, including construction, real estate and automotive.
Sovannarith noted that, as CEO of a real estate company, he has observed growing interest from international investors in the Kingdom’s tax and incentive policies.
“Many of these investors are now planning to expand their business in the country, seeing it as a promising destination for long-term growth and development,” he added.
