Germany Mulls Investing in Car & Construction Machinery Factory in Cambodia

• 16 February 2023
• Local News
• 21237 Views

The German business delegation has expressed interest in investing in several key sectors in Cambodia including automobiles, machinery, construction equipment, wastewater treatment system, technology, and renewable energy. 

According to a meeting with Cambodia Prime Minister Samdech Hun Sen on 15 February, the German business delegation also expressed satisfaction with the business environment in Cambodia and its favourable incentives. 

“Besides allowing 100% foreign-owned companies, Cambodia also allows the usage of foreign currency for salaries and other payments so that the investors can save costs on the exchange rate,” the PM said. 

PM Samdech Hun Sen also asked German investors to consider a plus formula, which means any time German firms invest in some neighbouring countries, they shall consider Cambodia as well at least as the backup. 

“Doing so will ensure a stable supply chain in case one of the based countries got into trouble just like COVID-19, the production can be shifted to Cambodia,” said PM Hun Sen. 

• Projects Development