PHNOM PENH: A Chinese firm, China MCC22 Group Corporation, has expressed interest in exploring investment opportunities in various sectors across Cambodia.
A delegation from the company, led by Mr. Guo KongSong, General Manager of the Department of Foreign Trade, met with H.E. Kong Vimean, Secretary General of the Council for the Development of Cambodia (CDC), at the CDC’s headquarters on November 7.
Mr. Guo KongSong highlighted the company’s keen interest in investing in Cambodia’s infrastructure construction, highway development, wastewater treatment systems, mining factories, industrial parks, construction material factories, and real estate.
In response, H.E. Kong Vimean warmly welcomed China MCC22 Group Corporation’s intention to invest in Cambodia. He reaffirmed the Royal Government’s open-door policy for investors from all sectors and reiterated the CDC‘s commitment to facilitating investment processes.
Cambodia’s investment landscape has shown promising growth, with investment projects amounting to US$3.76 billion in the first nine months of 2023, representing an 8.6% increase compared to the same period in 2022. These projects primarily originate from China, Malaysia, Singapore, and Vietnam.
In a recent development, Cambodian Prime Minister Hun Manet announced that the Royal Government has empowered provincial administrations to independently approve foreign investment projects valued at US$5 million or less, emphasizing the need for thorough due diligence in this process.
PM Hun Manet further stated that the national government is working on enhancing the capacities of sub-national authorities to effectively handle these responsibilities.
