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Korea intends to transform Phnom Penh into a green metropolis as Seoul

  • The Cambodian economy is predicted to rebound with 5.6 percent growth by 2022.
  • The growth rate will be 6.6 percent in 2023 and 7.6 percent in 2024.
  • After seeing Cambodia’s potential and growth, a Korean corporation intends to share its previous successful experience and contribute to Cambodia’s goal of transforming Phnom Penh into a green metropolis similar to Seoul.
  • In response, the Minister voiced his support for these commercial ventures that would help to improve the environment in Phnom Penh.

PHNOM PENH: After seeing Cambodia’s potential and continuous progress, a Korean corporation wishes to utilize its previous successful experience and contribute to Cambodia’s goal of transforming Phnom Penh into a green metropolis similar to Seoul.

H.E. Pan Sosak, Minister of Commerce, stated on April 1 at a working discussion with Korean investors to understand the business environment and potential in Cambodia via the harsh measures put in place, particularly the economic recovery strategy of Cambodia’s Royal Government.

The Cambodian economy is predicted to rebound with 5.6 percent growth in 2022, 6.6 percent growth in 2023, and 7 percent growth in 2024, which is excellent news for the business sector.

Mr. Sim Sok Kheng, Secretary of State of the Ministry of Commerce and Chairman of the Trade Negotiation Committee of the ASEAN-Cambodia Free Trade Agreement and the Cambodia-Korea Free Trade Agreement, also briefed the gathering on Cambodia’s economic growth and the Kovid-19 scenario at the time. Cambodia has a lot of trade possibilities and commercial chances.

At the same time, a representative from Techcross Water & Energy of Korea made a presentation on the company’s history, vision, and goal of investigating commercial prospects in Cambodia with an emphasis on the environment, such as water supply systems, wastewater treatment systems, energy recycling systems, and so forth. Given Cambodia’s potential and continued expansion, the firm wishes to leverage its previous successful experience and contribute to the implementation in Cambodia of turning Phnom Penh into a green metropolis similar to Seoul.

In response, the Minister voiced his support for these commercial ventures that would help to improve the environment in Phnom Penh and directed the company to collaborate with local partners and necessary authorities to ensure the project’s success. The minister also urged Korean investors, particularly significant Korean corporations, to increase their investments in Cambodia.

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