By John Le Fevre, Establishmentpost.com
Cambodia’s Minister of Commerce Sun Chanthol has signaled the aggressive approach his country is taking in attempting to lure foreign direct investment (FDI) in a punchy interview with CNBC’s Squawk Box on the side lines of the 18th Credit Suisse Asian Investment Conference in Hong Kong.
In a smoothly delivered exchange with Squawk Box anchor Bernie Lo, Mr Chanthol, a graduate of the Wharton School of Business (University of Pennsylvania), succinctly highlighted the major advantages Cambodia offered, particularly over its neighbour Thailand, where FDI in the first two months of this year fell by 72.58 per cent YoY from to just Bt 17 billion (US$ 521.893 million) this year (See: Destructive Drought Cuts Swathe Through Thailand Agricultural Sector).
Addressing the gripes of many existing and potential Thailand foreign investors Mr Chanthol effortlessly rattled off: “Cambodia provides the investor with:
Political stability
Macro economic stability with high-growth
Low inflation
A stable exchange rate
Low debt to GDP rate
An investment law that provides very generous investment incentives
No exchange control
No alien business law – every economic sector is open to foreign investors
Foreign investors can own 100 per cent of their business or enter into joint ventures
Money can be easily transferred into or out of the country
A young, dynamic, and hard working work force with a nation-wide average age of 24.1 years ensuring another 30 years of a productive work force
Strategically located in the heart of Asean” (read more).
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