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Contract on Investment between Royal Government of Cambodia and Phea Pimex Co., Ltd

The Royal Government of Cambodia grants Phea Pimex Co. Ltd. rights over the bamboo concession with a land size of 300,000 hectares, located in Battambang (230,000 hectares) and Banteay Meanchey (70,000 hectares) provinces. The concession area in subject is granted with an exclusion of the non-forest and non-bamboo land, to exploit bamboo for producing papers and bamboo-related products, within a period of 25 years. A map of the concession area is attached in this contract.

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Agreement of investment between Royal Government of Cambodia and Phea Pimex Co., Ltd
 

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Additional Info

Field Value
Geographic area (spatial range)
  • Cambodia
Topics Concessions
Document type Contract
Contracting Parties
  • Phea Phimex Group Co. Ltd.
Government Entity (multiple)
  • Royal Government of the Kingdom of Cambodia
Disclosure Mode Other
License CC-BY-SA-4.0
Copyright Yes
Access and use constraints

By accessing this website or database, users agree to take full responsibility for reliance on any site information provided and to hold harmless and waive any and all liability against individuals or entities associated with its development, form and content for any loss, harm or damage suffered as a result of its use.
Version / Edition 1
Language of document
  • English
  • Khmer
Province(s)
  • Banteay Meanchey
  • Battambang
Metadata Reference Information

Metadata last updated on 2017-02-23. For inquiries contact:

Open Development Cambodia, Email: contact@opendevcam.net, Website: https://opendevelopmentcambodia.net/ Address: 43 St. 208, Phnom Penh, Cambodia
Signature date June 12, 1998
Contact

Royal Government of Cambodia, Ministry of Agriculture, Forestry and Fisheries (MAFF). #200, Norodom Blvd., Phnom Penh.

Phea Pimex Co. Ltd.
Adress: #17 Road No.55 Sangkat Chaktomok, Khan Daunpenh, Phnom Penh. Tel: (855) 919 436; Fax(855-23) 723 133.
Granted area 300000
Contract term 25
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)