PHNOM PENH: The Council for the Development of Cambodia (CDC) is developing a Three-Year Investment Promotion Strategy for Cambodia to foster an attractive investment climate and increase its competitiveness in Southeast Asia.
At the CDC’s headquarters in Phnom Penh on Dec. 18, H.E. Sun Chanthol, Deputy Prime Minister, First Vice President of CDC, chaired a high-level meeting on the development of the strategy, with the participation of Australian Deputy Ambassador Ms. Bridget Collier.
Under technical collaboration from Australia through the Cambodia-Australia Partnership for Resilient Economic Development (CAPRED) programme, the strategy will help guide Cambodia to create an enabling investment environment, attract and retain quality investors, increase FDI and diversify markets.
H.E. Sun Chanthol welcomed the collaboration with CAPRED and recommended the programme to prioritise seeking information on potential companies that wish to shift their production base to the ASEAN region, as well as conducting an in-depth study on strategies to support Cambodia’s agro-industrial sector, and a feasibility study to identify the logistics sector as an additional priority sector for the three-year investment promotion strategy.
For her part, Ms. Collier said that Australia through the CAPRED programme is proud to be supporting Cambodia’s investment and trade initiatives as the two countries collectively tackle emerging regional and global economic shifts. “This strategy will be an important step towards Cambodia’s resilient, inclusive and sustainable economic growth,” she underlined.