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Industrial policy to be released next week

The government will next week release its Industrial Development Policy (IDP) that aims to keep the economy on its high-growth trajectory, a senior official confirmed yesterday.

The IDP, first announced by Prime Minister Hun Sen in March, establishes a set of goals aiming to broaden Cambodia’s economic base, by promoting foreign investment into industries such as auto parts and electronicsmanufacturing as well as agro-business and food processing.

“After we implement the policy, attracting investors is one of our main purposes,” Heng Sok Kung, secretary of state at the Ministry of Industry and Handicrafts, said yesterday.

Sok Kung said the policy, which has been adopted by the Council of Ministers and will be released August 26, aims to address shortages in infrastructure and human resources.

“Together with new investor law. which will be amended soon, with this policy we hope we will be able to attract large investors to Cambodia,” he said.

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