PHNOM PENH: A group of Chinese investors led by Boris Xue, President of the Ningbo Chamber of Commerce, have pledged to return to Cambodia in August with over 40 investment companies.
The investors met with H.E. Chea Vuthy, Deputy Secretary General of the Cambodian Investment Board (CIB), and the Cambodian Special Economic Zone Board (CSEZB) at CDC’s headquarters in Phnom Penh on Tuesday.
During the meeting, the Chinese investors expressed their commitment to contributing to the smooth development of Cambodia-China diamond cooperation through investment in the manufacturing industry, especially the production of fabrics and yarns, technology, trade, and real estate.
They also encouraged Chinese investors in Ningbo to study the current laws and regulations related to investment, opportunities, and the investment climate in Cambodia.
His Excellency expressed his confidence that the delegation will seize the maximum opportunities from investing in key areas where Cambodia has potential through direct or indirect investment, joint ventures with local enterprises, or public-private partnerships.
He said that the delegation’s visit would contribute to the strengthening of Cambodia-China ties led by the two countries leaders.
Xue expressed optimism about the investment climate in Cambodia and said that the 40 companies will come to explore the real investment potential in the country in mid-August.
Last year, local investment accounted for 53.54% of total investment, while Foreign Direct Investment made up the remaining 46.46%. China stood out as a significant foreign investor, contributing 42% of the total.
