24 May 2016
CAMBODIA: Investors and Officials Face Greater Scrutiny in Corruption Clampdown
CAMBODIA: Meetings between government officials and would-be investors are to face greater scrutiny following growing fears of collusion and corruption. Under a new regime mandated by the Council for the Development of Cambodia (CDC), far stricter records will be kept of meetings between the two parties.
With the rules specifically applying to visitors to the CDC’s Phnom Penh headquarters, any investors holding meetings with either the Cambodia Investment Board or the Cambodia Special Economic Zone Board will have to register prior to any such session. This will require them to produce their passport (or a similar official document), while a number of details of their meeting – including its purpose and participants – will also be officially recorded. The visitor’s identity documents will be retained for the duration of the meeting.
The new rules follow the arrest of a CDC employee on corruption charges in early May after he solicited a US$1,000 bribe from an unnamed company on a tax-related issue.