cellcard cellcard

Chinese firms given floor to discuss investment in Cambodia

Chea Vannak / Khmer Times Share:
Members of the Chinese delegation visiting Cambodia. KT/Chor Sokunthea

With Chinese public and private investment in the Kingdom at an all-time high, Chinese businesspeople yesterday gathered in Phnom Penh to ask questions directly to high-ranking Cambodian officials.

The event, organised by the Tianxia Chaoshang Economic Conference Investment, was attended by more than 42 Chinese businesspeople from a wide array of economic sectors, including real estate, finance, agriculture, information technology and healthcare.

They took the opportunity to inquire about the government’s investment policy, barriers to trade, and utility costs, among others.

Sok Chenda Sophea, secretary general of the Council for the Development of Cambodia, gave a speech in which he outlined the main incentives the Kingdom offers to Chinese investors.

“As Chinese businesses, you can invest in any sector with minimal restrictions,” Mr Chanda Sophea said.

“In other countries in the region, economic sectors are only partially open. You may, for example, only be able to own 49 percent stake in a bank. In Cambodia, however, you can have full ownership of the business, with few requirements.”

Li Songjian, head of the delegation of Chinese businesspeople, said China is looking for investment opportunities in the Kingdom that promote the country’s development.

“Cambodia’s peaceful and stable society and the fast pace of its economic development are attracting more and more investors to the country every year,” Mr Li said.

“Through this visit, I hope to deepen my understanding of Cambodia and Phnom Penh, find good investment projects and cooperation models, and contribute to the economic development of Cambodia and the promotion of economic and trade exchanges between our countries,” Mr Li added.

Pung Kheav Se, chairman of the Federation of Khmer Chinese in Cambodia, said the conference was a success, with Chinese investors attaining a better understanding of Cambodia’s regulations and investment opportunities.

“It enabled entrepreneurs from both countries to learn more about the other country. I believe that future iterations of the event will further promote cooperation and communication between both sides,” he said.

The Chinese delegation will meet today with Prime Minister Hun Sen at the Peace Palace.

Trade between Cambodia and China was worth 5 billion last year, a 21 percent increase compared to 2016.

Previous Article

May: Brexit not end of the world

Next Article

Surgeon taps into robotics for higher accuracy at Thailand’s Bumrungrad International Hospital