Major US companies vow to boost investment activities

PHNOM PENH: ConocoPhillips, Ford, RMA Group, Pfizer, Visa, and Vriens & Partners have expressed their support for the Royal Government of Cambodia’s efforts and pledged to encourage more companies and US investors to invest in Cambodia. Furthermore, to transfer and share new knowledge and technology to promote the development and prosperity of Cambodia’s economy.

H.E Sun Chanthol, Minister of Public Works and Transport, met with a delegation from the US-ASEAN Business Council (US-ABC) led by Ambassador, Michael Michalak, senior vice president and regional director and member of US-ABC, on February 27, 2023.

The meeting was organized to discuss, exchange views, and match business between ASEAN member countries and the US in order to learn more about the ASEAN region’s trade and investment potential and opportunities, as well as to further strengthen and expand economic and trade cooperation in the future, with the goal of contributing to the economic recovery from the Covid-19 crisis.

Michael W. Michalak expressed gratitude for Cambodia’s progress and development, particularly in the field of transportation infrastructure, despite the Covit-19 epidemic.

In response, the minister stated that the development of transportation infrastructure and logistics remains the main strategy of the Royal Government of Cambodia to promote the national economy, to which Cambodian Prime Minister Samdech Techo Hun Sen pays close attention.

Cambodia is currently working on the Phnom Penh-Sihanoukville Expressway, the Phnom Penh-Bavet Expressway, which is scheduled to open in mid-2023, the Phnom Penh-Siem Reap Expressway, and the Phnom Penh-Poipet railway upgrade project, which will transform it into a high-speed railway. The Royal Government encourages the Ministry of Public Works and Transport to work with the Ministry of Economy and Finance to expedite and find investment partners for this project.

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