PHNOM PENH, June 23 (Xinhua) -- Cambodian Prime Minister Hun Manet said Tuesday that tax incentives for domestic cement manufacturers will be extended for two years until the end of 2028, said a news release from his spokesperson's unit.
Hun Manet revealed this during a meeting with Cambodia Cement Manufacturing Association (CCMA) Chairman Vinh Huor at the Peace Palace in Phnom Penh, the press release said.
He praised the CCMA's success in stabilizing the domestic cement supply and reaffirmed the government's commitment to implementing policies that support both local and foreign investors in Cambodia.
The prime minister said that the success of Cambodia's existing businesses strongly encourages new investment, advising cement companies to focus on high product quality and fair pricing to boost competitiveness and secure long-term consumer trust.
Vinh Huor said that CCMA member companies have invested approximately 1.2 billion U.S. dollars, achieving a combined annual production capacity of around 12 million tonnes of cement.
CCMA member companies supply 8 to 9 million tonnes of cement to the domestic market annually, Vinh Huor said, adding that around 85 percent of the raw materials are sourced locally. ■
