Hong Kong-based firm to expand investment in Cambodia

Hong Kong-based firm to expand investment in Cambodia

Sunwah Group, a Chinese company based in Hong Kong, has been investing in Cambodia since 1994, especially in export seafood processing. It is now planning to extend its investment in the Kingdom to five other key areas.

Jonathan K.S. Choi, Chairman of Sunwah Group, told Mr Hun Manet, Prime Minister of Cambodia, of his company’s plan during their meeting at the Peace Palace Monday.

The five key areas include the development of green special economic zones, construction of commercial buildings and condominiums, promotion of tourism sector, installation of electric vehicle (EV) charging stations, and construction of 5G telecommunication network, he pointed out.

For his part, Mr Hun Manet welcomed the investment expansion plan of Sunwah Group, reaffirming that the Royal Government of Cambodia will continue to pay attention to maintaining peace, political stability, and social order to increase investors’ confidence, thus ensuring a competitive and business environment in the country.

Moreover, the Royal Government has been working hard to promote the construction of connecting infrastructure such as expressways and deep-sea ports and has launched many new initiatives to support investment in Cambodia, such as a new model of special economic zones according to the type of industry and the needs of each country and the Plus-One Strategy.

Regarding the investment plan on Green Special Economic Zone development, EV charging stations, and 5G telecommunication network construction, PM advised the company to further its discussions with relevant ministries and institutions.

The Premier also stated that the Royal Government of Cambodia has paid attention to the use of clean energy.

Currently, Cambodia is using more than 60 percent of clean energy and will increase it to 70 percent by 2030.

For tourism, Mr Hun Manet emphasised that the Royal Government has introduced policies to support the tourism sector and direct flight expansion from countries in the region and the world.

Jonathan K.S. Choi is accompanied by representatives of more than 70 companies investing in various fields such as financial technology, digital, real estate, energy, tourism, etc.AKP khmertimeskh

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