TITLE

Corruption Sees FDI Falling

PUB. DATE
August 2005
SOURCE
Asia Monitor: South East Asia Monitor Volume 1;Aug2005, Vol. 16 Issue 8, p6
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The article reports on the decline in foreign direct investment (FDI) into Cambodia by 8.4% in 2004. Government officials refused to explain the reasons behind the fall in FDI from US$230 million last year to US$251 million in 2003. However, in a news conference, the outgoing U.S. ambassador to Cambodia, Charles Ray, said that corruption and legal risk were the main reasons for decreasing FDI. One factor behind the drop in FDI last year was the expiry of the Multi-Fibre Arrangement (MFA). Under the protection of the MFA, Cambodia's garment sector grew from nothing in the mid-1990s to an industry which employs more than 250,000 in 2004.
ACCESSION #
17651093

 

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