PHNOM PENH: Prime Minister Samdech Moha Borvor Thipadei Hun Manet this morning said that the provincial administrations will gain more rights on foreign investment.
Addressing the inauguration ceremony of the new head office building of the Ministry of Interior in Phnom Penh, Samdech Thipadei Hun Manet said the Royal Government now authorizes each provincial administration to make their own decision on all foreign investment worth from US$5 million down, but they must also pay high attention to this important role.
Samdech Thipadei Hun Manet added that the Royal Government at the national level is preparing to strengthen the capacity and to make sure the readiness of the sub-national level to do this works effectively.
In the first nine months of this year, Cambodia has attracted US$3.76 billion in investment projects, up 8.6 percent compared to the same period in 2022. These projects are mainly from China, Malaysia, Singapore, and Vietnam.
