PHNOM PENH: On the morning of May 25th, 2023, the Council for the Development of Cambodia (CDC) and the Cambodian Oknha Association (COA) signed a Memorandum of Understanding aiming to promote and enhance trade and investment activities in the Kingdom of Cambodia.

The MoU was signed by H.E. Sok Chenda Sophea, Minister Delegate to the Prime Minister and Secretary-General of the CDC, and Oknha Ly Yong Phat, President of the COA.

Oknha Ly Yong Phat and his associates expressed their pleasure in reaching this agreement, stating that it marks a significant milestone in fostering closer public and private sector relations that are vital for the country's economic growth and development.

The primary goal of this partnership is to help Cambodia become a high-income country by 2050.

H.E. Sok Chenda Sophea, Minister Delegate to the Prime Minister and Secretary General of the CDC expressed his satisfaction with the MoU's signing, acknowledging the challenging task of carrying out the action plan set by this partnership.

However, he conveyed his optimism that CDC and COA would successfully perform together based on the partnership principle. The Minister also encouraged COA to participate in crucial dialogues with other domestic and foreign business associations.