Gov’t Encourages Local Investors to Invest More

January 16, 2019

By Kong Soriya
PHNOM PENH, Ministry of Economy and Finance’s senior official said that government is encouraging local investors to invest more in many sectors to help economic growth as the current figure investments in country are mostly foreigners.

Speaking at a public forum on Macroeconomics and 2019 Budgetary Management was held on the 15th January, Mr. Vongsy Visot, Secretary of State of the Ministry of Economy and Finance said that the government plans to expand the economic sector management through transparently and effectively. He adds that human resources and work forces only are not enough. So, we need to encourage more local investors as currently investment mostly are outsiders.

“In this mandate, the government is going to help and encourage more Cambodian investors and preparing a big budget to support the private sectors with a very clear plan and right policy” He said “In the last 10 years Cambodia, the government has been working on its 15 years economic development strategic plan with the right policies, Cambodian economy will growth rapidly”.

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“In Macroeconomic and 2019 Budgetary Management, the government continues focusing on 4 priority sectors such as; people, road, electricity and water and other works which are reflecting to the country’s demand” He said “Based on the macroeconomic policy and the principle of expanding the financial management, those tasks are responding to the government’s Rectangular Strategy-Phase IV.

The Cambodia’s Prime Minister Hun Sen, launched a campaign to enhance the country’s freedom through many key areas reforming. He also promised to promote friendship with other foreign countries crossing the world.

He also announced that he has already signed to withdraw all of the border officials and remains only customs and immigration official intent to reduce the export cost and help local businessmen to get a better profit from their businesses.

“A lot of border officials are not solution; it will spend higher cost on import and export.” He said “Cambodia’s economy cannot rely on one sector; we have a lot of sectors to support our economic growth.