Environment

EnvironmentAccording to the Washington-based Heritage Foundation, Cambodia is ranked 68th out of 157 countries, for economic freedom, higher than it neighbors, Vietnam, Thailand and Malaysia. In 1999, it joined the Association of Southeast Asian Nations (ASEAN), a group of ten countries with a total population of 550 million. The China- Asian Free Trade Area which comes into effect in 2010 will create a trading block of 1.7 billion.

Cambodia’s economic growth rate, according to the World Bank, has averaged 9% per annum over the past few years and reached a record high of 9.5% in 2007. This was largely driven by high export growth, healthy tourist receipts and a robust construction industry coupled with reliable banking institutions.

EnvironmentThere is still much work to be done, especially with regard to infrastructure. However, the conditions are in place for sustained growth. The relationship between government, donors and civil society has been significantly strengthened by regular dialogues between government and the private sector through formal working groups. Labor costs remain competitive and productivity is on the increase.

Rules governing trade have become easier and more liberal. Since Cambodia joined the World Trade Organization (WTO) in 2005, it has committed itself to a wide range of reforms and adopted a wide range of new laws to facilitate trade.

Investors in Cambodia can set up 100% foreign-owned investment projects and repatriate their funds. There is contractual freedom and investors are afforded protection against nationalization.




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