PM To Announce Long-term Economic Reform

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By Vutha

Phnom Penh: Prime Minister Hun Sun will announce to lay out a long-term economic reform aiming to strengthen the country without foreign pressure.

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PM Hun Sen has announced this on March 20 on his official Facebook page that on March 29, 2019, the Royal Government of Cambodia will announce a long-term economic reform to move forward and stay strong without foreign pressure.

“The reforms will not be affected by the external factors. But it will provide more favors and benefits to encourage the private sector and it is a good opportunity for both domestic and foreign investors and traders,” PM said.

The Royal Government of Cambodia has gradually reformed to facilitate the export of goods to Cambodia with fast transportation and low costs. It has removed Kamsab, CamControl and unnecessary scan of imported goods.

“However, in case that we suspect about the drug, it can be scanned and it needs to be quick and fast, so that it does not spend much time and money. For export, scans are only for the countries that require scans,” PM added.

Dr. Hong Vannak, an economic researcher at the Royal Academy of Cambodia, said the introduction of the new government reform would help to make progress in Cambodia and also contribute to the national financial benefits of developing it. Country and help people. Kamsab and CamControl the government has dissolved are the removal of import and export barriers and the investors are easy to do their businesses.

“Some countries around the world are also focusing on the areas that are barriers or bureaucracy and facilitate import and export as incentive for their investors,” he said. “From now, the government should also think of institutions that are overlapped to avoid barrier for investment, and wasting time and investors’ turnover to attract more investors into Cambodia”.

“The government will continue to consider other reforms to attract new capital through direct flow of investment into Cambodia, but if we do not have new investors, we do not have new money and no economic growth,” he added.

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