Green development gets boost in Cambodia, says CDC

Green development gets boost in Cambodia, says CDC

The Council for the Development of Cambodia (CDC) said a meeting was held on Tuesday to promote green investment.

In view of rapid climate change and interest in the investor community towards greener investments, Sun Chanthol, Deputy Prime Minister and Vice President of Cambodia Development Council held a meeting with companies. Some of these companies are members of the Association of Enterprise to Protect the Environment in Cambodia, led by John Yu, President, Golden Integrity International Investment Group.

Companies that have shown interest in investment opportunities in Cambodia include Golden Integrity International Investment Group, King City International Investment, Shingtak Footwear, Guangzhou New Shingtak, HKZQ Energy and Technology, Guoao Environment Protection Engineering, and Taiwan Dongguan Trade Association.

The meeting which saw the attendance of companies from China and Singapore was focused on investment opportunities in the green sector. The CDC in its statement said that Cambodia is looking to offer incentives to investors in priority sectors like green investment.

CDC also said the government is keen on investment in infrastructure projects including national roads, highways, new international airports and deepwater ports.

This meeting objective also falls in line with Cambodia’s desire to build a “green ASEAN” by increasing environmental sustainability and addressing climate change. To build a resilient and inclusive future, the CDC in the past has met with organisations like the Organisation for Economic Cooperation and Development (OECD) and Southeast Asia Regional Programme (SEARP).

Cambodia wants to turn carbon neutral and towards that end framed policy post covid. Termed 3Rs – recovery, reform and resilience – the country framed a strategic policy to rehabilitate and stimulate Cambodia’s economic growth. Some of those policies have paid dividends, and the government now expects the economy to grow at 6.6 percent.

In one of its policy documents, the government has said that it will focus on the “development of human resources, SMEs and MSMEs, integration of climate change resilience, and promotion of green economic development.”

Cambodia’s new Law on Investment has identified 19 sectors that are key priority, including environmental protection, biodiversity, green energy, circular economy, and technology for climate change mitigation. khmertimeskh

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