Labor Minister Ith Samheng yesterday asked the European Chamber of Commerce in Cambodia (EUROCHAM) president Tassilo Brinzer to help attract more investors to Cambodia.
During the meeting at the Ministry of Labour, Samheng spoke about the progress of cooperation between the government and EUROCHAM in the fields of employment, vocational training and the investment sector.
He said that due to the COVID-19 pandemic, the Cambodian economy has been severely affected, especially in terms of employment, in the tourism sector and in the export of products, adding the government has worked to address these issues by re-diversifying the economy.
Samheng requested that EUROCHAM cooperate with the ministry to participate in the implementation of Cambodia’s national policies.
“The ministry welcomes investment by members of the European Chamber in Cambodia,” he said.
According to the Labour Ministry, because the EU has a free trade agreement with Vietnam, European factory owners there can open branches in Cambodia to create new jobs and increase productivity for exports to Europe.
Brinzer agreed and confirmed that he will attract investors who are members of the European Chamber of Commerce in neighbouring countries such as Thailand and Vietnam to invest more in Cambodia while the investment climate is strong.
He also pledged to ensure better working conditions and quality products in Cambodia so that exports to the European Union, the United States and other countries meet the necessary standards.
EUROCHAM’s two-year strategic plan is to work on encouraging more European investors to Cambodia, as it is a potential investment destination in the region, Brinzer said.
The Ministry of Labour said the two sides have agreed to further strengthen cooperation to achieve better economic growth in Cambodia, despite the effects of EBA or COVID-19, and they are close to overcoming those obstacles.
EUROCHAM was established in 2011 by the French, German and British trade associations. There are more than 350 members and six branches throughout Cambodia, including 11 countries from the European Union.
The main activity of EUROCHAM is to promote, support and represent its members in dialogue with the government to facilitate the business environment and investment opportunities in Cambodia.