Frameworks on AIPs reviewed to boost investment, export

The Royal Government aims to provide a unified structure for creating a conducive environment for investment in agro-industrial parks by defining support measures and conditions for park development projects.

High-level government officials, key stakeholders from the private sector and developing partners have reviewed and discussed the strategic framework for the development of agro-industrial parks (AIPs) to boost investment and export.
The 4th consultative meeting was chaired by Ros Seilava, Secretary of State of the Ministry of Economy and Finance and Chairman of the Agro-Industrial Park Committee in Cambodia, with participation from representatives from relevant ministries and institutions who are members of the agro-industrial park committee, representatives from the Australian Embassy in Cambodia, and many other stakeholders.

The Royal Government has launched the Agro-Industrial Park Development Framework with the aim of promoting the development of agro-industrial parks through key support measures to attract investment in agro-industrial parks and establish value chains, anticipating positive consequences for socio-economic development in the medium and long term.
The framework aims to provide a unified framework for creating a conducive environment for investment and the operation of Agro-Industrial Parks by defining support measures and conditions for park development projects, as well as institutional and coordination mechanisms to ensure effective implementation.

Additionally, the framework focuses on providing additional special incentives beyond those provided in the current Law on Investment of Cambodia and other necessary facilitations to serve priority policy objectives.

The meeting stated that additional updates were necessary to ensure the document is comprehensive and fully aligned with current economic shifts, read the statement issued upon the meeting.

“The meeting was convened to review, discuss, and provide input on the revisions to the framework document for the development of agro-industrial parks in Cambodia, which were submitted for approval by the government, but due to delays, additional revisions are required to make them more comprehensive and complete,” read the statement.

The establishment of an agro-industrial park in Cambodia is designed to adhere to key principles, including economic alignment, increasing value-added by boosting agro-processing production chains with market and economic potential, and creating positive impacts and supporting the development of industry and SMEs in Cambodia.

To foster economic growth and enhance export capabilities, the government last July announced the establishment of agro-industrial zones in Battambang, Banteay Meanchey, and Pursat provinces. The initiative is part of a broader strategy to strengthen Cambodia’s agro-industrial sector by creating a supportive policy framework and infrastructure.

Source: Khmer Times