PHNOM PENH: The Council for the Development of Cambodia (CDC), has officially launched the “Cambodia Investment Project Management (CDC) – cdcIPM)” to streamline the investment registration process in Cambodia.
The launch ceremony was held on November 27, 2024, under the chairmanship of Mr. Sun Chanthol, Deputy Prime Minister, First Vice President of the Council for the Development of Cambodia, and relevant parties.
Deputy Secretary-General of the Council for the Development of Cambodia, Mr. Heang Sotheayouth, said that the CDC Investment Project Management (cdcIPM) is a public system that is a technology platform that allows investors to apply for registration of qualified investment projects online.
He said, “We are launching the Cambodia Investment Project Management System, a technology platform that allows investors to apply for registration of qualified investment projects online from anywhere, including application, payment of fees, and obtaining a project registration certificate in digital format, and will connect with relevant ministries and institutions in the future.”
At the same time, Deputy Prime Minister Sun Chanthol stated that from now on, investors no longer need to submit documents to the Council for the Development of Cambodia, but can apply for investment applications online, which is the first phase.
He added, “For the second phase, the Council for the Development of Cambodia will organize a connection from the Cambodia Investment Project Management System to relevant ministries to connect the Cambodia Investment Management System to the systems of those ministries.”
Mr. Sun Chanthol stated that this is a system that provides convenience to investors so as to avoid complications and help facilitate investors in investing in Cambodia more easily.
Oknha Lim Heng, Vice President of the Cambodian Chamber of Commerce, expressed his full support for the system that has been put into use. He believes that this system will help facilitate the application and registration of investment projects, reduce irregularities, especially help facilitate investors from being complicated and increase investor confidence.
Base on the “Cambodia Digital Economic and Social Policy Framework 2021-20235” that was implemented by the Royal Government of the 6th Mandate of the National Assembly in 2021, the Royal Government of the 7th term of the National Assembly, under the wise and far-sighted leadership of Prime Minister Hun Manet and Chairman of the Council for the Development of Cambodia, has implemented the “Phase 1 Pentagon Strategy” by identifying five key priorities: people, roads, water, electricity, and technology.
In line with this strategy, the Council for the Development of Cambodia (CDC) has continued to strive to improve and enhance the provision of public services to investors by strengthening the capacity of officials and developing the cdcIPM system, a new digital technology system that allows investors to apply directly from anywhere and at any time, facilitating investment more easily, reducing time, ensuring transparency, security, and efficiency, as well as contributing to building a digital economy and society and a digital government in Cambodia.
The new system will accelerate the provision of Qualified Investment Project (QIP) registration services by moving from paper-based to a fully digital system, reducing the need for face-to-face meetings between investors and service providers, increasing convenience and making the investment environment in Cambodia more trustworthy for investors.
The cdcIPM system will not only provide separate investment project registration services, but will also become a potential single-entry technological ecosystem mechanism in the future, enabling the integration of the cdcIPM system and the member ministries and institutions of the CAC.
This means that in the next phase, the registration of investment projects will be a single-entry system for relevant ministries and institutions to receive information and documents, investor requests issued by the CAC, in order to speed up the relevant service delivery procedures and increase investor confidence in a transparent, efficient and sustainable manner.