PHNOM PENH: A high-level Cambodian official expressed optimism about attracting Indian investment across all sectors during a business matching program held on March 13, 2024.
H.E. Suon Sophal, Deputy Secretary General of the Board of Investment at the Council for the Development of Cambodia (CDC), participated as a speaker in the event co-organized by the Indian Embassy, Indian Chamber of Commerce, and a chemicals industry association. The program aimed to connect Cambodian businesses and investors with Indian companies, fostering collaboration and business networks.
H.E. Sophal highlighted his satisfaction with the program, particularly the focus on India’s chemical industry, which supplies essential materials for factories. He viewed this as a strong indicator of Indian businesses’ growing interest in investing in Cambodia and contributing to the development of its industrial sector.
Furthermore, he expressed optimism about Cambodia’s potential to become a premier location for investment across various sectors. He emphasized the country’s advantages, including Cambodia’s economic growth is projected to reach 6.6% in 2024, the Cambodian government is actively working to simplify investment procedures, enhance investment facilitation mechanisms, and adopt international best practices. The country also offers competitive incentive packages to attract foreign investment and the government provides ongoing support services to investors.
The event proved to be a valuable platform for fostering collaboration. It was attended by H.E. Devyani Khobragade, the Indian Ambassador to Cambodia, representatives from relevant Cambodian ministries, and approximately 80 participants from the Cambodian and Indian private sectors.