17 Chinese Firms Seek Clarity on Investment Policies from Cambodian Prime Minister

• Sommana Yan
• 1 April 2024
• Uncategorized
• 1754 Views

Mr. Shen Mingrong, Chairman of Zhenjiang Zhoung Chao New Material Co., Ltd., alongside representatives from 17 Chinese industrial enterprises, expressed keen interest in expanding their investments in Cambodia. They sought clarity on three key policies from PM Hun Manet, according to result of the pivotal meeting between the two parties held on 27 March 2024.

During the meeting, Mr. Shen Mingrong underscored his determination to bolster investment and attract new investors to Cambodia, thereby contributing to the nation’s socio-economic development. He introduced a diverse array of 17 specialised enterprises spanning sectors such as textiles, information technology, finance, energy, and real estate, highlighting the potential for growth and collaboration.

Of particular significance was Mr. Shen’s direct request to PM Hun Manet for insights into Cambodia’s investment policies, including management protocols, skilled labour management, and green energy strategies.

In response, PM Hun Manet assured Mr. Shen and the delegation of Cambodia’s commitment to enhancing skills training programs to meet the demands of industrial companies and the labour market. Moreover, he emphasised Cambodia’s policy of facilitating the free flow of capital, enabling seamless capital transfers through cross-border payment systems. Additionally, PM Hun Manet outlined Cambodia’s strides towards green energy adoption, with plans to increase clean energy usage to 70% by 2030.

This exchange signifies a crucial step towards fostering stronger economic ties between China and Cambodia, paving the way for mutually beneficial investments and sustainable development.

• Cooperation and networking