Chinese team looks to invest in Cambodia

Chinese team looks to invest in Cambodia

A group of visiting Chinese investors and businessmen from Shandong province, China, recently evinced interest in potential investment opportunities in Cambodia.

The Chinese delegation, composed of representatives from dozens of Chinese firms, attended a meeting on March 8 in Phnom Penh on building cooperation and exchanged views regarding the development of an ‘Industrial Corridor’ and ‘Fish and Rice Corridor’.

The meeting was organized in collaboration with the Council for the Development of Cambodia (CDC), the Foreign Office of Shandong Province, the Cambodian Chamber of Commerce, and the Cambodian-Chinese Association in Cambodia.

The meeting aimed to promote bilateral economic relations between Cambodia and China, especially trade and investment cooperation in agriculture, industry and manufacturing of mechanical equipment and electronics, the main sectors of Shandong province.

Chinese investors could bring knowledge, skills and technology, especially in agriculture, agro-industry, aquaculture, processing industry and marine industry to increase value, Chea Vuthy, Secretary General of the CDC’s Cambodia Investment Board (CIB) said.

“The two countries’ ties, upgraded to a ‘bilateral Diamond Hexagon cooperation,’ will enable further political, economic and security in the new era,” Vuthy said.

The meeting also confirmed that senior officials of the Ministry of Commerce of the People’s Republic of China will visit Cambodia in the near future to discuss the establishment of an industrial park to promote the processing of local raw materials and semi-finished products for tyre factories in Cambodia.

It may be recalled that Deputy Prime Minister Sun Chanthol signed the MoU with Yuan Zhongxue, director of China’s National Engineering Research Center for Rubber and Tires (NERCRAT) in January to pave the way for major investments in tyre projects in Cambodia. khmertimeskh

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