PHNOM PENH: German investors are satisfied with Cambodia's investment environment which to them is very open and favorable.

The satisfaction was underlined by a German business delegation led by H.E. Frank-Walter Steinmeier, President of the Federal Republic of Germany during a meeting here at the Peace Palace on Feb. 15 with Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, according to H.E. Eang Sophalleth, Assistant to the Cambodian Premier.

The German business delegation also expressed their interest to invest in the fields of vehicle manufacturing, construction materials and machinery, wastewater treatment system, and renewable energy technologies.

For his part, Samdech Techo Hun Sen informed the delegation of the favorable investment environment in Cambodia, especially the policy allowing foreigners to fully own a company without having a Cambodian partner and authorizing the use of foreign currencies for wages and transactions so that investors/businessmen do not lose their benefits due to foreign exchange.

Samdech Techo Prime Minister extended a welcome to all German investments, particularly environment-friendly and carbon-neutral investments.

He also encouraged the German investors to consider the Plus One formula, i.e. if Germany invests in a country, it should consider investing in Cambodia as well. He took an example of a company investing in Thailand and Cambodia. When Thailand faced COVID-19 and the flood crisis, the company turned its production to Cambodia in order to meet the orders.