Thailand
Cambodia – CDC: Improve infrastructure to draw investment to border
The Council for the Development of Cambodia (CDC) has urged relevant parties to increase efforts to attract more foreign investors to border areas.
CDC secretary-general Sok Chenda Sophea said to achieve this, it is necessary to develop infrastructure there such as special economic zones (SEZ), connect them to the power grid and identify attractive industry sectors.
Speaking at an inter-ministerial/institutional meeting in Banteay Meanchey province on Monday, he said: “Encouraging investment by easing trade and logistics at border areas is crucial to attracting investors.
“I urge all stakeholders to step up their efforts to facilitate the operation of current investment projects which are aimed at attracting more foreign investors to Cambodia’s border areas.”
Banteay Meanchey provincial governor Um Reatrey told The Post on Monday that due to its favourable geographical location near Thailand’s seaports, the province possesses a high potential for investment.
“Developing and increasing investment in border areas is crucial to boosting economic growth and helping to curb Cambodians working abroad,” he said.
Reatrey said provincial authorities have made adequate preparations for investors – setting up training facilities and short courses for workers and security guards, providing administrative convenience for investors and preparing the labour force.
Ly Kimhong, the brand manager at Poipet Oneang SEZ, which currently has four factories operating with some 7,000 workers, welcomed more investments in border areas, saying it will help create jobs while facilitating the transport of goods.
“Even as of these last two years, border areas here in Poipet town have developed very quickly, they have to be made more attractive to investors,” Kimhong said.
He said the government opening more border checkpoints and improving infrastructure would help to boost the economy in border areas.
Cambodia Freight Forwarders Association president Sin Chanthy said border development is part of the Cambodia Industrial Development Policy 2015-2025.
“It would be great if border areas were developed. More investment would improve the logistics sector.
“I would also like to see goods transported via rail from Thailand and to Sihanoukville’s international seaport while avoiding the use of lorries and helping to reduce road congestion,” he said.
Source: https://www.phnompenhpost.com/business/cdc-improve-infrastructure-draw-investment-border