Ruling Cambodian People’s Party (CPP) lawmaker Hun Many reassured investors yesterday, saying the government was focusing on ensuring a good investment climate in the country underpinned by social stability.
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Mr Many, the fourth child of Prime Minister Hun Sen, was speaking during the opening ceremony of Coca-Cola’s EKOCENTER in Boeung Thom commune in the outskirts of Phnom Penh and said there is a great need for collaboration between the government, foreign allies and the private sector.
“Cambodia has developed a lot from a macroeconomic perspective, but there is still a lot of work to do,” he said.
“As a nation, we are committed to ensuring investment security, stability and peace. The government will continue its work to build a better investment climate for foreign companies like Coca-Cola.”
Dana Bolden, the communications director of Coca-Cola’s Bottling Investment Group, said his company plans to broaden its operations in the kingdom.
“At Coca-Cola, we are committed to helping Cambodia develop and grow. We are expanding our investments in our business here and this contribution to building sustainable communities is an integral part of this investment,” he said.
“This EKOCENTER is a testament of the power of collaboration in what we call the Golden Triangle between government, NGOs and other private sector partners,” Mr Bolden added.
In December last year, Cambodia Beverage Company, part of The Coca-Cola Company, opened a new $100 million plant in the Phnom Penh Special Economic Zone.
Michael Newbill, the deputy chief of mission at the US Embassy in Phnom Penh, said Coca-Cola’s bottling plant is a sign the government has been successful in its efforts to attract foreign investment.
“That success has come through an open investment framework, modern special economic zones, improved tax administration and other business-friendly reforms,” he said.
“I believe other foreign investors will view Coca-Cola’s presence as a symbol of Cambodia’s potential and a sign that Cambodia is ready for business,” said the American diplomat.