Phnom Penh: The Council for the Development of Cambodia (CDC) is in the process of developing a Three-Year Investment Promotion Strategy aimed at fostering an attractive investment climate and enhancing the country’s competitiveness within Southeast Asia.
During a high-level meeting held at the CDC’s headquarters in Phnom Penh on December 18, Mr. Sun Chanthol, Deputy Prime Minister and First Vice President of CDC, led discussions on the strategy’s development, with notable participation from Australian Deputy Ambassador Ms. Bridget Collier.
The strategy is being developed with technical collaboration from Australia, facilitated through the Cambodia-Australia Partnership for Resilient Economic Development (CAPRED) program. Its primary objective is to guide Cambodia in creating an enabling investment environment that attracts and retains quality investors, increases foreign direct investment (FDI), and diversifies markets.
In his remarks, Mr. Sun Chanthol welcomed the partnership with CAPRED, emphasizing the need to prioritize research into potential companies interested in relocating their production bases to the ASEAN region. He also highlighted the necessity of conducting a comprehensive study to support Cambodia’s agro-industrial sector and a feasibility assessment to identify the logistics sector as an additional focus for the investment promotion strategy.
Ms. Collier expressed Australia’s pride in supporting Cambodia’s investment and trade initiatives through the CAPRED program. She stated, “This strategy will be an important step towards Cambodia’s resilient, inclusive, and sustainable economic growth,” underscoring the collaborative effort to navigate emerging regional and global economic shifts.
Source: CPP
