Cambodia seeks more investment from Europe

Even though Cambodia has attracted more European investors, the number of their investment projects in the country is still small, said Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia.

In a meeting with Peteris Ustubs, Director for Middle East Asia and the Pacific of the General Department of International Partnership (DG INTPA) of the European Union, and Igor Driesmans, Ambassador of the European Union to the Kingdom of Cambodia, Chanthol apprised the European Union about Cambodia’s stance, which remains welcome and encourages all investors to invest in all sectors.

“Cambodia has already received investors from countries including the United States, Korea, Japan, China and many other countries. Cambodia wants more European investors to invest in Cambodia,” he said.

On his part, Peteris Ustubs suggested that Cambodia organize visits to the 27-nation European Union to promote and attract investors, in which he encouraged Cambodia to select key priority areas to present to investors.

Peteris Ustubs also spoke about the EU’s focus on green and technology development projects.

Since the new Royal Government took office, it has ensured administrative sustainability.

During these six months, Cambodia received 172 investment projects, both domestic and foreign, with an investment capital of nearly $4 billion, Prime Minister Hun Manet said early in March.

Premier Hun Manet added that those projects will create 190,000 jobs for the citizens. The Prime Minister also unveiled that an interested Chinese project, worth more than $1 billion, wanted to invest in establishing a tire manufacturing plant in Cambodia.

“Some people said that Cambodia is only attracting investment from China or one specific country. I denied. We attract investments from every country and welcome everyone,” he said.

Cambodia attracted an investment of $1.3 billion in the first two-month period of this year, according to a CDC report, citing that China was the leader in foreign direct investment (FDI) to the Kingdom, accounting for about 39 percent of total investment capital.
 

Source:Khmer Times