Cambodia has high expectations that the newly launched Cambodia Investment Project Management System (cdcIPM) will significantly enhance the potential to attract more foreign and local investments.

In the first 11 months of 2024, 379 projects were approved, totalling approximately $6 billion – 129 more than in 2023, when the total value was $4.9 billion.

The cdcIPM system was officially inaugurated on November 27 in Phnom Penh, with the participation of Deputy Prime Minister Sun Chanthol, first vice-president of the CDC, as well as senior officials from ministries, institutions, diplomatic representatives, national and international organisations and the private sector.

It is a new digital platform developed by the CDC to allow investors to submit their applications anytime and from anywhere, making the process smoother, reducing time delays, ensuring transparency and contributing to the development of a digital economy and e-government initiatives.

The new system will streamline the registration of qualified investment projects (QIP) by shifting away from paper documents, which will reduce the need for face-to-face interactions between financiers and government officers, making the investment environment more trustworthy for both locals and foreigners.

Chanthol stated that the system would make the investment process more convenient for investors in Cambodia.

He noted that the implementation of the new registration system aligns with the government’s objective to provide convenience and attract investment, as well as provide information to financiers.

He emphasised, “This system is easy for users to input information, submit investment requests and track the progress of their applications in real time. Investors can monitor all steps and know where their forms are, avoiding the problem of lost documents.”

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Reporter: Hin Pisei

Publication date: 28 November 2024

Source: The Phnom Penh Post