Cambodia allows foreigners to own property.
WARNING TO ALL FOREIGN INVESTORS:
YOUR RISKS ARE GREAT BECAUSE CAMBODIA REMAINS OCCUPIED BY VIETNAM IN VIOLATION
OF THE 10 UN RESOLUTIONS:
10 UN RESOLUTIONS,(1979-1988) VOTED BY 116 UN MEMBER COUNTRIES ,CALL VIETNAM TO
CEASE HER OCCUPATION OF CAMBODIA & REMOVE ALL HER TROOPS FROM THE COUNTRY, ARE
NOT RESPECTED AS OF TODAY.
President Reagan's address to the 43d Session of the United Nations General
Assembly in New York, New York,September 26, 1988.
"Mr. Secretary-General, there are new hopes for Cambodia, a nation whose
freedom and independence we seek just as avidly as we sought the freedom and
independence of Afghanistan. We urge the rapid removal of all Vietnamese troops
...."
As of today,Cambodia is still occupied by the Vietnamese troops despite the
call from the US president to Vietnam to cease her occupation of Cambodia since
1988.
Cambodia needs Independence from Vietnam and the Vietnamese invaders.
Vietnam must cease her occupation of Cambodia at once.
THE MOMENT , KING SIHAMONI STOPS COLLABORATING WITH THE CAMBODIAN ENEMIES(THE
VIETNAMESE OCCUPIERS) ALL KHMER COULD FIND INSTANTLY PEACE & JUSTICE.
THE CULPRITS ARE FMR KING SIHANOUK, QUEEN MONIQUE , KING SIHAMONI WHO CONTINUE
TO INFLICT AN UNENDING SUFFERINGS TO THE CAMBODIAN IN THIS WAY.
Bury
Fri, Dec 04, 2009
AFP
PHNOM PENH, CAMBODIA (AFP) - The Cambodian government on Friday approved a
draft law allowing foreign ownership of buildings such as apartments and office
buildings to boost economic growth, the country's cabinet said.
The draft law approved in a meeting chaired by premier Hun Sen was aimed at
"attracting investors, facilitating the growth of real estate market, and
pushing the development", a cabinet statement said.
But Information Minister and government spokesman Khieu Kanharith said
foreigners will be permitted to own only buildings and apartments, not the land
beneath them.
"We will allow foreigners to have ownership of buildings from the first
floor up," he told AFP.
The draft law is expected to be approved by Cambodia's parliament and senate,
and then will be promulgated by King Norodom Sihamoni.
The move comes after the private sector in recent years urged the government to
allow foreign ownership of properties such as apartments or factories, saying a
liberalised real estate market would spur the economy.
Under the current rules, foreign property investments can only be made through
the name of a Cambodian national, and many are unwilling to risk losing their
assets to potentially unscrupulous local partners.
The cash-strapped country's investment law was amended in 2005 to allow foreign
ownership of buildings, but the legislation had yet to be implemented and the
initiative floundered.
Despite current restrictions, billion-dollar skyscraper projects and sprawling
satellite cities promising to radically alter Phnom Penh have bloomed over the
past few years.
But many projects have been halted or slowed down as Cambodia has been buffeted
by the world financial crisis after several years of double-digit growth
fuelled mainly by tourism and garment exports.
The International Monetary Fund in September predicted Cambodia's economy will
contract 2.75 percent this year amid the slowdown.
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