Cambodian PM Pledges Tax Incentives, Streamlining to US Firms to Boost Investment

Cambodian Prime Minister Hun Manet, speaking on July 22, highlighted the government's policies and measures to support the success of investors in Cambodia. He emphasized the implementation of incentive policies, tax exemptions, institutional reforms, and the simplification of procedures to facilitate business operations for investors and maintain Cambodia's competitiveness regionally and globally. The remarks were made during a meeting at the Peace Palace with a delegation from the US-ASEAN Business Council (USABC), led by its President and CEO, former Ambassador Brian D. McFeeters. The delegation comprised companies investing in potential sectors such as automotive, agricultural machinery, healthcare, energy, pharmaceuticals, food processing, retail, banking, and finance. The USABC delegation expressed its intention to further strengthen and deepen trade and investment relations with Cambodia. They thanked the Cambodian government and relevant ministries for their consistent support and cooperation with American investing companies in Cambodia, affirming that these companies will continue to foster relationships, expand investments, and seek new investment opportunities. The delegation also informed the Prime Minister about the social contributions made by American companies investing in Cambodia, particularly in sectors like healthcare, education, and SME development, as well as human resource training. They reaffirmed their commitment to strengthening their partnership with Cambodia to continue contributing to the country's socio-economic development. Prime Minister Hun Manet expressed gratitude to the American investing companies for their trust and investment in Cambodia, noting their contributions not only to the country's socio-economic development but also to the enhancement of bilateral relations and cooperation. He welcomed the commitment of American companies to continue fostering relationships, strengthening, and expanding their investments, as well as seeking new investment opportunities in potential sectors. The Prime Minister underscored the Cambodian government's commitment to maintaining a highly favorable and competitive investment environment for all investors. He encouraged the USABC delegation to continue engaging with relevant ministries and institutions to seize opportunities for further investment expansion in Cambodia.