Cambodia invites Indian investments in agriculture, IT and infrastructure

BUSINESS NEWS
Cambodia invites Indian investments in agriculture, IT and
infrastructure


By Indian Express
Sunday December 9, 04:03 AM
Cambodia has invited Indian investments in manufacturing, services,
infrastructure and human resources development and said it would
export to India some agricultural products in which it is
competitive.

Speaking at an interaction with the Indian industry here on Saturday
jointly hosted by the apex bodies, FICCI, Assocham and CII, Cambodian
prime minister Samdech Akka Moha Sena Pai Techo Hun Sen said, "We are
strongly determined to attract as much as possible foreign direct
investment (FDIs), including that from India."

He said under the new policy private investors investing in
infrastructure development have the option to build-operate-transfer
(BOT) and Build-operate-own (BOO). Foreign investors can do business
with or without Cambodian partners. In case of local partnership, the
level of equity would be decided by the foreign investor.

On the issue of the ownership of the land, Sen clarified that the
right has been reserved for Cambodian citizens, the foreigners can use
land through lease contracts for a period up to 99 years.

The Cambodian prime minister called for attracting investments in agro-
business, manufacturing, services, tourism, human resources
development, hardware and software, roads, bridges, seaports,
airports, railways, power, clean water supply, irrigation, development
and transfer of knowledge and technology, telecommunications,
information technology.

He said, "Cambodia has comparative advantages and potentials in
agriculture and agro-industry, labour-intensive industries,
processing, tourism, mining and in some sections of manufacturing and
services sectors¿ At the same time promising future from
commercialisation of oil, gas and other mineral resources has opened
up new economic opportunities and hope for Cambodia to become a new
development zone in the region."

At present India-Cambodia bilateral trade is less than $50 million,
with balance tilted in favour of India. Cambodian exports to India are
negligible. Cambodia is a member of the Asean group, with which India
is planning to sign a free trade agreement.

The Cambodian prime minister praised spirit of cooperation expressed
by the Indian prime minister Manmohan Singh at the 6th Asean-India
Summit in Singapore last month.

"I am hopeful that India will positively consider our request to
provide assistance in IT, where it is known for its expertise," the
Cambodian prime minister said.

Minister of state for communications and IT Shakeel Ahmed said that
cooperation between the two countries in human resources development
and It was necessary due to the presence of skilled manpower in both
the countries.

He said that India had launched a plan to ensure 1,00,000 boardband
.

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