PHNOM PENH: A Chinese business delegation from the Danong Development Group this week visited Cambodia to explore investment opportunities in the agriculture sector.
The group, led by President Zhao Shujie, met with government officials and discussed plans to establish a vertically integrated agro-industrial complex in the country. The complex would include animal and crop breeding farms, grassland farms for animal feed, livestock farms, and cassava farms. All agricultural products from the complex would be sold in both the Cambodian and Chinese markets.
After meeting with government officials, the Chinese delegation visited Kompong Thom and Battambang provinces to assess other potential investment opportunities.
In a separate development, a group of Chinese investors led by Boris Xue, President of the Ningbo Chamber of Commerce, last week have pledged to return to Cambodia in August with over 40 investment companies.
The investors expressed optimism about the investment climate in Cambodia and said that they are interested in investing in the manufacturing industry, especially the production of fabrics and yarns, technology, trade, and real estate.
Mr. Lor Vichet, Vice President of the Cambodia-Chinese Commerce Association (CCCA), said that there are about 200 Chinese investment companies that are showing interest in the Cambodian market this year.
He urged Cambodia to attract more investors with well-known companies in the tourism, hospitality, manufacturing, and technology sectors. By attracting these types of investors, Cambodia can create even more jobs and opportunities for its people, and further develop its economy.
Last year, domestic investment accounted for 53.54% of total investment, while Foreign Direct Investment made up the remaining 46.46%. China stood out as a significant foreign investor, contributing 42% of the total.