The Cambodia Development Council (CDC) spelt out elaborate plans to visit several European Union (EU) countries as part of its ongoing ‘Knock-on-Door’ mission to attract potential investors to the Kingdom.
The delegation aims to showcase Cambodia’s favourable investment climate and attract potential investors from the EU to explore opportunities in the Kingdom.
The information was shared during a meeting between Sun Chanthol, Deputy Prime Minister and First Vice-President of Council for the Development of Cambodia (CDC) and Matt Jackson, Head of UK-ASEAN business at KPMG recently.
“CDC is planning to make a Knock-on-Door mission to the United Kingdom and the EU countries soon to promote a favourable investment climate and attract potential investors,” Chanthol said.
The Council for the Development of Cambodia has been conducting a series of Knock-on-Door missions to several countries to promote Cambodia’s investment potential and opportunities, he added.
The CDC’s visit to the EU comes at a time when Cambodia is experiencing steady economic growth and increasing foreign investments.
In September, the first-ever Cambodia-Europe Public-Private Sector Dialogue was held at the Council for the Development of Cambodia (CDC) to create a robust mechanism for protecting European investments in Cambodia and promoting sustainable development.
The dialogue was held to ensure that the concerns and priorities of European investors for investing in Cambodia are consistently addressed, fostering transparency, accountability and effective problem-solving.
Igor Driesmans, Ambassador of the European Union to Cambodia, who took part in the dialogue, reaffirmed the EU’s commitment to Cambodia’s socio-economic development.
Chanthol assured the government commitment in fostering stronger trade ties with the EU. Continued efforts to improve trade facilitation, streamline regulations and enhance product quality are expected to further solidify the vital partnership.
“The Cambodia-EU Public-Private Dialogue reflects the Cambodian Government’s interest in listening to the concerns of European investors through the regular use of the official channels,” the CDC first Vice President said, adding, it was also to build trust among potential European investors who target Cambodia as their investment hub.
Cambodia’s export to the European Union (EU) continues to surge with export value to the bloc recording $2.9 billion in the first eight months of 2024, a year-on-year increase of 16.27 percent compared to the same period last year, according to a report from the Ministry of Commerce.
The Knock-on-Door mission is part of the CDC’s broader efforts to promote Cambodia as a preferred investment destination.
Last month, a delegation led by Chanthol wrapped up its knock-on-door mission in the United States, where they met with major American companies, particularly conducted a number of business forums and meetings promoting the Kingdom’s favourable investment climate to investors.
Source: khmertimeskh