Kingdom pushes for economic cooperation with Germany

Kingdom pushes for economic cooperation with Germany

Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC) on Wednesday met Dr Andrea Heilmaier, Deputy Governor of Nuremberg City and discussed means to boost trade connectivity, investment flow and business activities between the two countries.

Chanthol reached Germany on Wednesday after his two-day successful visit to Spain.

During the discussion, Chanthol told Deputy Governor Heilmaier about the Royal Government of Cambodia’s mission to urge investors across the European Union (EU) countries and update them of the potential scope of investment available in the Kingdom.

Chanthol said, “Germany is one of the major nations and RGC wanted to see more German investors in the Kingdom. Cambodia wants to enhance the bilateral relations between the two countries.”

Chanthol hoped that his visit would help build trust and confidence between the nations, and accelerate the establishment of joint economic cooperation especially on investment, trade and business cooperation.

Heilmaier responded positively by reaffirming the commitment to create economic cooperation between Cambodia and Germany, particularly with the Nuremberg City.

During the day, Chanthol also led the delegation to visit the Uvex headquarters.

The Cambodian delegation was warmly received by Claus-Jürgen Lurz, Chief Executive Officer of Uvex Safety Group in Nuremberg.

During the meeting, the Deputy Prime Minister apprised the Uvex CEO about the significance of the CDC that is officially mandated to guide and facilitate foreign investors, create a favourable investment environment and ensure the achievement of the projects.

Chanthol said, “In addition, RGC is striving to support investors in all priority sectors through the construction of the multipurpose infrastructures aimed to facilitate the transportation and logistics procedures.”

“With 60 percent population under the age of 35, pro-business government, economic and political stability and the investment laws which open for all investors fairly while also allowing foreigners to be wholly-owned shareholders [except land property], making Cambodia the most potential investment destination,” Chanthol said.

Noting the potential opportunities and commitment of the government, Lurz said that Uvex will consider expanding its investment and production in the Kingdom.

The Cambodian delegation comprised Suon Sophal, Deputy Secretary General of the Cambodian Investment Board of CDC, Hun Lak, Secretary General of the Cambodian Oknha Association (COA), Kuon Thida, President of Orienda International Hospital, Leang Pov, President of Khmer Beverages, Lim Socheat, Vice-President of Cambodia Chamber of Commerce and Peou Rithjayasedh, Deputy Secretary General of the Ministry of Economy and Finance.

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