1 October 2014
Minister
of Environment said the Royal Government of Cambodia (RGC) has decided to
reduce the investment duration on economic concession land from 99 to 50 years.
This is
the RGC’s new principle, but for any companies that have already signed the
contracts, the investment duration remains 99 years, against 50 years for new
contracts, said H.E. Minister at a press conference held here yesterday
afternoon at the Ministry of Environment. “If a company performs well in the
40th or 45th year, it can apply for an extension or whatever to the RGC at that
time.”
Meanwhile,
he also announced the ministry’s decision to remove economic concession land
from eight companies with a total area of some 12,000 ha as there has been no
development on the land.
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