PHNOM PENH: According to an AKP release, Chinese delegations from Hubei Provincial Federation of Industry and Commerce, Beijing International Economic Management Technology Promotion Association, and Zhongke Beifang Co., Ltd. have been visiting Cambodia to explore investment opportunities.
On December 17th, at the Council for the Development of Cambodia (CDC) headquarters in Phnom Penh, H.E. Chea Vuthy, Secretary General of the CDC’s Cambodian Investment Board (CIB), separately received the three Chinese delegations.
During the meetings, H.E. Chea Vuthy highlighted the favorable and open investment climate in Cambodia, emphasizing that it welcomes investors from all countries without discrimination.
He noted that China has consistently been the top source of foreign direct investment in Cambodia for the past decade. He pointed out that many large Chinese companies are investing in Cambodia in sectors beyond traditional industries like garment and footwear, such as tire manufacturing, electronic equipment assembly, and furniture manufacturing, which utilize modern technology and generate higher added value.
The CIB Secretary General encouraged the Chinese delegations to consider investing in the development of special economic zones and in agricultural processing for export to the Chinese market.
H.E. Chea Vuthy expressed optimism that more Chinese investors will choose to invest in Cambodia, contributing to the diversification of the Cambodian economy and market expansion. He emphasized that this will further strengthen the “Diamond Cooperation” between the two countries.
The Council for the Development of Cambodia (CDC) approved 43 investment projects worth $939 million in November 2024. These projects are expected to create approximately 39,000 jobs. Of the total, 32 projects will be located outside special economic zones, while 11 will be within special economic zones.