NBC, US-ABC explore business ventures, investment opportunities

NBC, US-ABC explore business ventures, investment opportunities

Dr Chea Serey, Governor of the National Bank of Cambodia (NBC) met with the US-ASEAN Business Council (US-ABC) on Thursday and exchanged views on the business ventures and investment potential of large US companies.

The executives who attended the meeting included representatives from VISA, Mastercard, Ford and many other US companies.

The meeting discussed business progress, challenges and perspectives of NBC on economic and financial sector development.

Serey apprised the US-ABC delegation about the positive outlook of the Cambodian economy, growth and challenges in the financial sector as well as the main potential of the Cambodian economy.

She also informed the delegation about the investment attraction policy of the Royal Government of Cambodia (RGC) and the promotion of the use of the riel in economic activities.

The discussion highlighted the growth of the banking and payment system, in which electronic payments have grown rapidly, and thanked the relevant US companies for their contribution to the digitalization of the payment system and in the development process of the banking sector.

NBC has contributed to improving the transparency of the financial environment and connected payments in the region, Serey underlined.

The Governor encouraged US companies to invest more in Cambodia in a situation where the nation has a lot of potential, including manufacturing, tourism, agriculture and finance, with high optimism for future economic growth and development.

Earlier on Wednesday, the US-ASEAN Business Council separately met with Prime Minister Hun Manet and Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of CDC and evinced interest in exploring investment opportunities in the Kingdom.

The Royal Government of Cambodia (RGC) assured the American companies to work closely with the Council for the Development of Cambodia (CDC) through the Qualified Investment Project Registration (QIP Online), an online platform created to enable investors to submit investment proposals.

The US-ABC delegation requested Chanthol to facilitate the existing and upcoming investments, trades and business operations of US firms in the Kingdom to which the Deputy Prime Minister responded to the readiness of the CDC through the QIP Online, a system created to facilitate investors fairly.

He informed the delegation on the direction of diversifying investment portfolios from other countries, as the Kingdom has investment laws that are open to all investors, whatever race or nation they came from such as the US, China, Thailand or Japan firms. khmertimeskh

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