PHNOM PENH: Cambodia is keen to attract more foreign investors, as foreign investment is crucial to boost the kingdom's socio-economic growth and reduce poverty, officials and experts said on Saturday (Sept 19).
Yun Heng, deputy secretary-general of the Cambodian Investment Board at the Council for the Development of Cambodia, said that key target sectors include electrical and electronic equipment manufacturing, processing industries, car tire production, special economic zones and mega-infrastructure projects such as roads, ports, airports and renewable energy.
On the sidelines of a dialogue on Cambodian development and investment opportunities, Heng urged more foreign businesses to enter the market, highlighting the country's open legal framework and competitive incentives.
Looking ahead, Heng noted that the South-East Asian nation is particularly eager to attract foreign capital into high-tech fields, such as electronic components and automotive assembly, as well as agriculture and solar energy.
Thong Mengdavid, deputy director of the China-Asean Studies Centre at the Cambodia University of Technology and Science, said that new foreign capital is crucial for delivering essential technology, infrastructure, and job opportunities.
Kha Leng, a secretary of state at the Ministry of Commerce, highlighted that businesses investing in the kingdom can leverage significant trade advantages, including the Regional Comprehensive Economic Partnership and Cambodia's bilateral free trade agreements with China, South Korea, and the United Arab Emirates.
"Since Cambodia needs investment in all areas, we welcome all investors," she said. "I believe they will find more opportunities to expand here in Cambodia than in developed nations." - Xinhua
