Background

Recognizing that the real economic growth necessary to achieve the country’s developmental goals lies in the development of a healthy private sector, the government undertook a program of reform to promote private sector investment. As part of this reform program, the Law on Foreign Investment in the Kingdom of Cambodia of 1994 established the Council for the Development of Cambodia (CDC). This law made the CDC the highest decision-making level of the government for private and public sector investment. It is chaired by the Prime Minister and composed of senior ministers from related government agencies. The Cambodian Investment Board (CIB) and the Cambodian Special Economic Zone Board (CSEZB) are the CDC’s operational arms for private sector investment. CIB deals with investment projects out of special economic zones (SEZs) and CSEZB takes charge of investment projects in SEZs. They review investment applications and grants incentives to investment projects meeting the requirements laid out in the 1994 Investment Law. This law streamlined the foreign investment regime and provided generous and competitive incentives for direct private sector investment.

Value

Strong client focus; cooperation within CDC and with other agencies; integrity and honesty; openness to new ideas; team work and communication.

Mission

In addition to reviewing applications for investment incentives, the mission of the Council for the Development of Cambodia (CDC) is to promote and facilitate foreign and local investments. In order to accomplish this goal, it is charged with several functions: ・ To provide information to potential investors; ・ To review investment applications and grant incentives; ・ To monitor investment projects after implementation. ・ To provide after-care service to investor in their project’s implementation ・ To provide a platform for private sector to participate in policy dialogue with the government through its bi-annual Government-Private Sector Forum

Vision

To be the Government Investment Promotion Agency with efficient and effective work and outputs, delivering benefits to the people of Cambodia through increased investment.

Goal

To manage the Cambodian Government’s private sector investment policy and help attract and retain productive private sector investment.