PHNOM PENH: The city of Qingdao in China's Shandong province is committed to encouraging more Chinese investors to invest in Cambodia and strengthening cooperation in different fields with the Kingdom.

H.E. Wang Luming, Chairman of the Standing Committee of the Qingdao People's Congress, expressed his stance in favor of investment promotion and increased cooperation during his meeting late last week in Qingdao with H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC).

Executives of large companies in Qingdao, who wish to learn about investment opportunities in Cambodia, were also present on the occasion.

H.E. Wang briefed the Cambodian DPM on the potential of his city, such as economic and industrial activities as well as the importance of research and development.

For his part, H.E. Sun Chanthol emphasized the close and solid friendship between Cambodia and China which had enhanced their cooperation and brought numerous investments to Cambodia. China ranks first in foreign investment in the Kingdom, he stressed.

At the initiative of Cambodian Prime Minister, Samdech Moha Borvor Thipadei Hun Manet, and Chinese President H.E. Xi Jinping, he added, the year 2024 was designated as the Year of People-to-People Exchange aimed at boosting the growth of Chinese tourists to Cambodia.