While Cambodia has adopted a competitive investment strategy, it lags behind Asia-Pacific countries in terms of investment facilities and other factors, the World Bank reported Wednesday.
Cambodia is one of the more open countries to foreign investment, but its roads, ports and other infrastructure are not developed, according to the “Investing Across Borders” annual report.
“It’s a showcase to attract more foreign direct investment,” said Ngoun Meng Tech, secretary general of Chamber of Commerce of Cambodia.
Cambodia’s economy has struggled since the 2009 recession, and foreign investment has fallen from $1.2 billion in the first six months of 2009 to $1.1 billion for the same period this year. Experts say the country must now find ways to compete in a different global economy.
In Cambodia, it takes 86 days and 10 procedures to open a business, compared to other East Asia-Pacific countries, where the average is 68 days and 11 procedures, the World Bank reported.
Related posts:

1. Vietnam investment takes off in Cambodia; some wary (Reuters)
2. East Asia Welcomes US Engagement In The Region (Bernama.com)
3. Mekong Sub-region nations vow to develop infrastructure (Xinhua)
4. World Bank predicts 4.4-per-cent growth for Cambodia this year
5. Foreign tourists to Cambodia increase by 10.55 pct in first 4 months (Xinhua)
6. Cambodian PM predicts GDP growth of 5 pct this year [-Cambodia's economy according to Hanoi PhD Hun Xen?] (KI)
7. Banking System Shows Signs of Recovery (KI)
8. Asean: Bad for the region (Bangkok Post)
9. Cambodia receives $1.1 billion in aid pledges from donors for 2010 (Khmerization)