The Minister of Interior, Sar Sokha strongly believes that the Chief Executive of the Hong Kong Special Administrative Region (HKSAR) of China will further promote investment and economic development in Cambodia’s priority sectors as the country aims to achieve a high-income status by 2030 and 2050.
He made this statement on the occasion of receiving a courtesy call from John KC Lee, Chief Executive of the HKSAR, on Wednesday at the Ministry.
Sokha said that based on the long-standing political and diplomatic ties for thousands of years, Cambodia and China have become steel friends under the Diamond Cooperation, which promotes development in all fields, especially industry and trade, textiles and clothing, agro-industry, financial services, transportation, logistics, innovation, technology, and tourism, as well as cooperation in the management of security, public order, and the fight against terrorism and crime.
He considered these proud achievements are inseparable from the state-to-state policy, good relations, and good cooperation between the governments of the two countries, which has created a favourable investment environment, mutually benefitting both parties.
After taking office, Prime Minister Hun Manet paid two visits to China, during which the two governments signed cooperation documents in key areas, including investment, e-commerce and digital infrastructure, energy, and green development, as well as designating 2024 as a year of people-to-people exchanges.
To promote investment, Sokha said that the Government has implemented laws and regulations, such as the Law on Investment and Public-Private Partnerships, to promote investment. They also implemented preferential tax policies in infrastructure, roads, and building construction, fostering a better security environment for national and international investors.
The Minister firmly believes that “Lee will further encourage investment and economic development in Cambodia’s priority sectors, while Cambodia is striving to strengthen itself to achieve its 2030 vision of becoming a high-middle-income-country and a high-income country by 2050.”
With this, Lee said that he and his delegation will continue to explore the possibility of increasing investment in Cambodia, as well as help promote and mobilise other partner investors to explore potential opportunities and invest in Cambodia.
