Beijing Scitech Holdings Eyes Investment in Cambodia’s Crude Oil Refining Sector

• 7 May 2025
• Local News
• 1594 Views

In a significant step towards bolstering economic ties, Beijing Scitech Holdings Co., Ltd. has expressed interest in investing in Cambodia’s crude oil refining industry. This was discussed during a meeting held between Prime Minister Hun Manet and the company’s chairman of the board, Mr. Zhu Yujiang.

During the meeting, Mr. Zhu Yujiang commended Cambodia’s rapid development across various sectors and acknowledged the strengthening relationship between China and Cambodia. He highlighted the company’s ambition to explore opportunities in crude oil refining and the production of processed products derived from refining residues.

“This investment is expected to not only enhance socio-economic development but also increase productivity within Cambodia’s manufacturing sector,” Zhu noted.

In response, the Prime Minister reiterated Cambodia’s welcoming stance toward foreign investments. He emphasised the government’s commitment to creating favourable policies that encourage investment in the supply chain, a pivotal strategy for boosting local production of semi-finished and finished goods aimed at both domestic use and export.

The Prime Minister concluded the meeting by urging potential investors to explore the vast opportunities within Cambodia’s supply chain and to engage with relevant ministries and institutions to maximise their investment potential.

This development underscores Cambodia’s attractiveness as an investment destination, particularly in sectors that promise both economic growth and enhanced industrial capabilities.

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