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Cambodia calls for more foreign investment
Sok Chenda Sophea, Minister attached to the Prime Minister and Secretary-General of the Council for the Development of Cambodia (CDC), yesterday encouraged private sector representatives in Asean, especially investors from Italy, to invest in the Kingdom.
He urged them to learn more about the investment potential and opportunities in Cambodia and to take advantage of the many agreements the country has signed, especially the Regional Comprehensive Economic Partnership Agreement (RCEP), which came into force in early 2022.
He made the remarks while speaking at the sixth Asean-Italy High-Level Dialogue on Economic Relations at the Mandarin Oriental Hotel, Kuala Lumpur, at the invitation of the European House-Ambrosetti.
Dato Sri Mustapa Mohamed, Minister in the Prime Minister’s Department (Economy) of Malaysia; Cheuy Vichet, Cambodian Ambassador to Malaysia; Lorenzo Tavzzi, partner and in charge of International Development of the European House-Ambrosetti; Michelangelo Pipan, Vice-President of the Asean-Italy Association and about 300 representatives of Italian companies and companies in the Asean region attended the forum.
Sophea said that after the advent of Covid-19, the current trade and business had changed compared to the previous period. The Royal Government of Cambodia, headed by Prime Minister Hun Sen, has worked to revitalise the economy by introducing a number of key policies, such as the new investment law and the strategic framework and programme for restoring and promoting Cambodia’s economic growth by living with Covid-19 in line with the new normal trajectory.
Through the implementation of new investment laws that has provided many benefits to foreign investors and a number of agreements that have entered into force, such as the Cambodia-China Free Trade Agreement and, in particular, the RCEP, he encouraged private sector representatives who attended the forum to study investment opportunities in Cambodia.
Delegates shared common views on seizing opportunities for strengthening cooperation and trade and investment relations between Italy and Asean, especially in the current context that countries in the world are recovering and boosting their respective economic growth after the outbreak of Covid-19 was relief, a press release said.
Meanwhile, Mustapa Mohamed congratulated Cambodia on its success in combating Covid-19 as well as achieving three percent economic growth in 2021 when many countries in the region and world posted negative economic growth.
Source: https://www.khmertimeskh.com/501107942/cambodia-calls-for-more-foreign-investment/