Sun Chanthol urges EU representatives to encourage investors to come to Cambodia

Sun Chanthol urges EU representatives to encourage investors to come to Cambodia

Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia, continued to ask EU representatives to encourage more European investors to come to Cambodia, as the number of European investors is still small.

He made the request during a working meeting with Peteris Ustubs, Director for the Middle East, Asia, and Pacific in the Directorate-General for International Partnerships (DG INTPA), and Igor Driesmans, Ambassador of the European Union to Cambodia, and colleagues on March 11, 2024.

During the meeting, Deputy Prime Minister Sun Chanthol thanked the European Union for its support for development assistance and bilateral cooperation with the Royal Government of Cambodia.

Investment cooperation between Cambodia and the European Union is still small, in the amount of about $540 million from 62 investment projects from 1994 to the present. In such a situation, the Deputy Prime Minister informed the EU representative about Cambodia’s position, welcomed all investors to invest in all sectors, and encouraged investment in some areas. He added that Cambodia has already received investors from countries including the United States, Korea, Japan, China, and many other countries. Cambodia wants investors from Europe to invest in Cambodia more.

Chanthol briefed EU representatives on the government’s national development plans to support the private sector, including in the areas of infrastructure, construction of national roads, expressways, airports, and ports, and in particular, the Comprehensive Master Plan on the Cambodian Transit and Logistics System 2023-2033, which has 174 projects that private companies from the European Union can examine for the feasibility of investment.

Peteris Ustubs took this opportunity to congratulate the excellent results on national development gained from Cambodia’s efforts. He also mentioned the investment attractiveness that Cambodia can organise in the 27-nation European Union, and he encouraged Cambodia to select key priority areas to present to investors.

Peteris Ustubs also noted the EU’s current focus on green development projects and technology. Fresh News

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