Right time to invest in Kingdom, DPM Chanthol tells Japanese

Right time to invest in Kingdom, DPM Chanthol tells Japanese

The Council for the Development of Cambodia (CDC) in collaboration with the Japan External Trade Organisation (JETRO) yesterday organised an investment forum in Tokyo to attract Japanese investors to explore opportunities in the Kingdom.

Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of CDC on Tuesday led a high-level delegation to promote investment potential to the Japanese businessmen. He was accompanied by Suon Sophal, Deputy Secretary General of Cambodia Investment Board (CIB) and Tuy Ry, Ambassador of Cambodia to Japan.

On Wednesday, the ‘Japan-Cambodia Investment Forum’ was held at the ASEAN-Japan Centre (AJC) in Tokyo.

Chanthol apprised the positive investment environment in the Kingdom, including political stability, the macroeconomic situation, the dynamic young workforce, especially the government that tends to support foreign business growth, attractiveness and favourable investment regimes and the interconnected infrastructure that has been developing to be more interface.

He said, “It is very hard for businessmen to invest in a country where the inflation rate is going up and down like a yo-yo. But in Cambodia, we do have a low inflation rate plus the proactive government ready to support them.”

He emphasised that our [government] job is to facilitate the private sector and not to become their manager. We consider them as the engine of the Kingdom’s economic growth.

The Deputy Prime Minister recommended that before investing in any country, businessmen must review the investment law and see if the law was designed to protect their investment.

Rather than talking good about the Law on Investment of Cambodia, he suggested investors go through it as CDC has translated it into many languages.

Chanthol expressed optimism that the investors and businessmen who participate in the workshop will take time to visit Cambodia, bringing the investment climate in the Kingdom to share with the Japanese business community.

During the forum, the private sector highlighted the ease of doing business in Cambodia including the diversification of investment activities that are full of opportunities and the proactive policy support from the government on renewable energy, sub-sectors, green production chains and the digital economy that align with the regional and global trading trends.

The workshop saw the presence of Masahiro Imamura, Chairman of the Japan-Cambodia Friendship Parliamentary League, Susumu Kataoka, President of the Japan External Trade Organization, Yasuji Komiyama, Deputy Director-General for Trade Policy of the Ministry of Economy, Trade and Industry (METI) and representative from the private sector, a total of 150 attendees.

On the occasion, the Deputy Prime Minister was honoured to open a business matching programme between the Cambodian Oknha Association (COA) and the Japan-Cambodia Association (JCA). He also gave an interview to The Nihon Keizai Shimbun (The Nikkei), Japan’s leading financial newspaper. (khmertimeskh)

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