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Chinese companies urged to consider investments in Cambodia

Chhut Bunthoeun / Khmer Times Share:
Commerce Minister Pan Sorasak addresses the audience during the event last week. Ministry of Commerce

The government last week urged companies from the Chinese provinces of Guangdong and Sichuan to consider investing in the Kingdom.

Speaking during a business forum held at Sokha Hotel Phnom Penh, Sam Sereyroth, state secretary of the Commerce Ministry, said Cambodia is one of the most attractive investment destinations in the region.

“We welcome all foreign investors and guarantee them that here they will enjoy peace, security, political stability, transparency, and accountability,” he told investors from Guangdong during the forum.

The business forum brought together 130 representatives from Guangdong-based companies and officials from the Cambodian Ministry of Commerce.

Guangdong, whose capital is Guangzhou, is a coastal province in Southeast China that borders Hong Kong and Macau.

“With more investment coming into Cambodia, our people will have access to more and better jobs,” Mr Sereyroth said.

“Cambodia is open to investment. The country also has a large and young labour force,” he said, adding that the agriculture, industry, technology, and health sectors are particularly attractive.

Last week, the ministry held a similar meeting with investors from Sichuan province. Jiang Xue Dong, Sichuan’s deputy governor, attended the event and pledged to encourage investors from the province to seek investment opportunities in the Kingdom.

Sichuan, located in the country’s southwest, is a landlocked province.

“Increasing investments to Cambodia is in line with the Belt and Road Initiative initiated by president Xi Jinping,” Mr Jiang pointed out.

According to the Ministry of Commerce, trade between Cambodia and China reached $6.4 billion last year, an increase of 15 percent compared to 2017. Chinese investors are involved in almost every economic sector in Cambodia, from energy to infrastructure, and from tourism to real estate and finance.

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