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NEWS UPDATES Asean Affairs    July 31, 2017  











Deal gives UAE more confidence to invest

Fri, 28 July 2017

The Kingdom’s investment authority signed an agreement yesterday to promote and protect investments between the United Arab Emirates (UAE) and Cambodia, a move government officials hope will attract foreign direct investment from the oil-rich Gulf state, which currently stands at almost zero.

Sok Chenda Sophea, secretary-general of the Council for the Development of Cambodia, signed the bilateral investment protection agreement with Saif Alshamsi, the UAE ambassador based in Bangkok, Thailand.

Chenda Sophea said it “will send a positive message about Cambodia to UAE investors that are looking for business opportunities in Cambodia”.

“Currently, we do not have any UAE investment in Cambodia besides Emirates Airlines,” he said. “But by signing this agreement today I hope there will be more investment in the next three years.”

He added that UAE’s minister of foreign affairs will visit Cambodia this year with an accompanying business delegation.

Emirates Airlines expanded its presence in Cambodia after launching a daily passenger flight between Dubai and Phnom Penh, with a stopover in Yangon, on July 1. The airline’s passenger service follows its initial cargo freight operations that began in mid-2016 with a weekly flight.

Pressed on details of the agreement, Chenda Sophea explained it ensures that investors are protected by the rule of law and from any loss resulting from environmental impacts such as natural disasters.

This is the 28th bilateral agreement the Cambodian government has signed with other countries to promote and protect investments.




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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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