Experts say the country must now find ways to compete in a different global economy.
The total amount of deposits in Cambodia’s 28 banking institutions recorded a jump in the first part of the year.
Dollarization attracts foreign investment, stabilizes the exchange rate and prevents devaluation of the riel.
Supporters say the investment agreements will increase free trade, transparency and competition and provide protections for investors.
Cambodia’s total tax revenue for 2009 was $1 billion, a low figure compared to other countries.
The center, due to be established this year, will resolve such disputes within crossing the current court system.
The World Economic Forum’s 2010 trade index report found that Cambodia slipped to No. 102 of 126 countries, down nine places from 2009.
Chevron, Bunge, ConocoPhillips, General Dynamics, General Electric, Johnson and Johnson, IBM, and JP Morgan will all take part.
Seeing Gulf Coast oil spill, environmental and other groups in Cambodia say the country needs to do more to safeguard its environment.
Cambodia is considering increasing formal diplomatic relations with Iran, including establishing an embassy in the capital Tehran.
The Economist Intelligence Unit estimated in April the riel would depreciate an average 1.3 percent in 2010 and 2011.
Officials say a lack of confidence from both local and foreign investors has stymied construction recovery.
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