Law on Investment.
Country
Type of law
Legislation
Abstract
This Law aims to establish an open, transparent, predictable and favorable legal framework to attract and promote quality, effective and efficient investments by Cambodian nationals or foreigners. The Law governs all Qualified Investment Projects, Expanded Qualified Investment Projects and Guaranteed Investment Projects registered with the Council for the Development of Cambodia or Municipal-Provincial Investment Sub-Committees. Only Qualified Investment Projects are entitled to the benefits subject to the scope of this Law. In this Law, “Qualified Investment Project” or “QIP” refers to an investment project that has received a registration certificate from the Council for the Development of Cambodia or a Municipal-Provincial Investment Sub-Committee; "Export Qualified Investment Project" refers to a QIP that sells or transfers any proportion of its products to purchasers or recipients outside the Kingdom of Cambodia.
The Council for the Development of Cambodia (CDC) shall be established as an executive body acting as the “Etat-Major” and One-Stop Service of the Royal Government of Cambodia responsible for overseeing and managing development cooperation, private investment, and special economic zones. The State shall not undertake any nationalization actions which may affect the assets of the Investors in the Kingdom of Cambodia, and shall not undertake any expropriation which may affect an approved Investment Project or undertake any measures similar to expropriation, except for the purpose of public interest and that such expropriation shall meet the following conditions: 1. Non-discrimination; 2. Fair and just compensation; and 3. Compliance with the laws and procedures in force for expropriation. Investors' ownership of land for the purpose of implementing Investment Projects is granted only to persons of Cambodian nationality in accordance with the laws and regulations in force. Investors have the right to use land through economic land concessions or perpetual leases or leases for a fixed duration in accordance with the laws and regulations in force.
The Law further makes provisions, inter alia, for: investment incentives, employment practices, disputes and dissolution.
The Council for the Development of Cambodia (CDC) shall be established as an executive body acting as the “Etat-Major” and One-Stop Service of the Royal Government of Cambodia responsible for overseeing and managing development cooperation, private investment, and special economic zones. The State shall not undertake any nationalization actions which may affect the assets of the Investors in the Kingdom of Cambodia, and shall not undertake any expropriation which may affect an approved Investment Project or undertake any measures similar to expropriation, except for the purpose of public interest and that such expropriation shall meet the following conditions: 1. Non-discrimination; 2. Fair and just compensation; and 3. Compliance with the laws and procedures in force for expropriation. Investors' ownership of land for the purpose of implementing Investment Projects is granted only to persons of Cambodian nationality in accordance with the laws and regulations in force. Investors have the right to use land through economic land concessions or perpetual leases or leases for a fixed duration in accordance with the laws and regulations in force.
The Law further makes provisions, inter alia, for: investment incentives, employment practices, disputes and dissolution.
Attached files
Web site
Date of text
Repealed
No
Source language
English
Legislation Amendment
No