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Investment Law
Law on Investment of the Kingdom of Cambodia Promulgated by the National Assembly on August 4, 1994 and signed into law on August 5, 1994 by acting Head of State Chea Sim. Tentative government translation provided by Bretton G. Sciaroni, Esq.
Chapter 1: General Provisions
Article 1. This Law governs all investment projects of investors who are Cambodian citiens and/or foreigners within the Kingdom of Cambodia.
Article 2 An investor can be either a natural person or a legal entity.
Chapter 2: The Council for the Development of Cambodia
Article 3. The Council for the Development of Cambodia is the sole and one-stop service organization responsible for rehabilitation development and the oversight of investment activities. The Council for the Development of Cambodia is the Royal Government's "Etat-Major" responsible for the valuation and decisionmaking on all habilitation and development, and investment project activities.
Article 4. The Council the Development of Cambodia comprises the following two operational Boards:
1. The Cambodian Rehabilitation and Development Board;
2. The Cambodian Investment Board.
Article 5. The organization and functioning of the Council for the Development of Cambodia shall be covered by Sub-Decree.
Chapter 3: Investment Procedures
Article 6. Investors have to submit investment appliations to the Council for the Development of Cambodia for review and decision.
Article 7. The Council for the Development of Cambodia shall provide a response as to its decision to all investor/applicants within a minimum period of forty-five (45) days following the date of submission of the complete investment application.
Any Government officials who refuse to review and respond to an investor's application past the above mentioned period of time without proper justification shall be punished by law.
Chapter 4: Investment Guarantees
Article 8. Investors shall be treated in a nondiscriminatory manner as set by law, except for ownership of land as set forth in the Constitution of the Kingdam of Cambodia.
Article 9. The Royal Government shall not undertake nationalization policy which shall adversely affect private properties of investors in the Kingdom of Cambodia.
Article 10. The Royal Government shall not impose price controls on the products or services of investors who have received prior approval from the Government.
Article 11. In accordance with the relevant laws and regulations issued and published...