Cambodia opening its doors to investment

With GDP growth averaging around 9% for the past decade, Cambodia is certainly attracting interest from potential investors. It has possibly the most investor-friendly environment in Asean with no exchange controls, no restrictions on repatriation of profit, and no discrimination between foreign and local investors. Moreover, corporate income tax is 20% and there are tax holidays of up to nine years. Foreigners can also take out leases on land for up to 99 years and foreign companies can buy land. For Thai investors, the interest so far has been in Cambodia’s growing footwear and garment industry. This is Cambodia’s biggest employer and key export earner and there are over 300 garment or textile factories. Low wages – about one-third the level of Thailand’s – are a big attraction for investors, even though the minimum wage for garment workers in Cambodia rose from $61 a month to $66 earlier this year. Cambodian garments and footwear also enjoy favourable tariff-free access to markets in the United States and Europe…

http://www.bangkokpost.com/business/economics/311715/cambodia-opening-its-doors-to-investment