Contract on Investment between Royal Government of Cambodia and Phea Pimex Co., Ltd
Published by: Open Development Cambodia
Data Resources (1)
Data Resource Preview - Agreement of investment between Royal Government of Cambodia and Phea Pimex Co., Ltd
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|Government Entity (multiple)||
|Access and use constraints||
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|Metadata Reference Information||
Metadata last updated on 2017-02-23. For inquiries contact:
Open Development Cambodia, Email: email@example.com, Website: https://opendevelopmentcambodia.net/ Address: 43 St. 208, Phnom Penh, Cambodia
|Signature date||June 12, 1998|
Royal Government of Cambodia, Ministry of Agriculture, Forestry and Fisheries (MAFF). #200, Norodom Blvd., Phnom Penh.
Phea Pimex Co. Ltd.
|Contract term unit||Years|
|Party's obligation in the implementation of the project||
• Rights and duties of Party A (Royal Government of Cambodia): Guarantee for the protection of the company's rights over the concession area and operation, facilitation of all the required paper work and operations, and adherence to the non-retroactive clause. •Rights and duties of Party B (Phea Pimex Co. Ltd.): The committed initial investment of US$ 12,000,000 in the first three years in infrastructure and operation of the paper production, monthly payment of royalty from the processing bamboo in according to the list of agreed royalty, tax payment in compliance with the country's investment laws, and additional payment of the land fees, if applicable.
|Job creation summary||
The company investor has to use Khmer workers only. According to the labour law, investment law, immigration law and other related laws, the recruitment of foreign workers is not allowed, except there is a lack of the local technical workers.
|Environmental protection obligation||
The investor will have rights to construct in the locations that limited by the company owner according to forest management's law.
|Fiscal duties summary||
The tax is according to investment's law and encouragement's law, which had confirmed in article 14 of Royal Government of Cambodia investment's law.
|Suspension and/or revocation or termination||
The contract can be terminated in the following cases: •A unilateral decision of the company to withdraw some parts or the entire project; in this case, the company is held responsible according to the investment laws • Company's failure in the contract implementation and other related decisions of the government within one year; except, there is a act of gods.
|Legacy reference document||Phea_Pimex_Co.Ltd__12.06.1998.pdf|
|Date uploaded||February 23, 2017, 02:55 (UTC)|
|Date modified||April 20, 2017, 01:18 (UTC)|