PM Hun Sen Facilitates UAE Investment in Cambodia’s Thriving Oil Sector

• 9 June 2023
• Local News
• 1243 Views

In a significant development for Cambodia’s burgeoning oil and gas industry, Samdech Hun Sen, PM of Cambodia, has successfully attracted investors from the United Arab Emirates (UAE) to explore investment opportunities within the country’s oil and gas sector.

During an insightful dialogue with dedicated garment workers in Kampong Chhnang province on June 9, PM Hun Sen revealed his discussions with the UAE Minister of Foreign Trade, held the previous day on June 8, where he highlighted Cambodia’s immense potential for investment across various sectors.

PM Hun Sen emphasized the appeal of Cambodia’s agricultural processing industry, particularly in the realms of rice, cashew, and rubber.

“We are attracting UAE investors to invest in agricultural processing, such as rice, cashew, and rubber, and to consider other investment opportunities, including oil,” he said.

Additionally, he urged UAE investors to consider exploring other lucrative opportunities, notably the country’s oil sector, where their extensive experience and expertise can contribute to its growth and development.

In recent news, KrisEnergy, a Singapore-based company, filed for bankruptcy regarding the Apsara oil field in the Khmer basin, located in the Gulf of Thailand. As a proactive response, the Cambodian government has been actively engaging investment firms to evaluate potential ventures in the oil sector, signaling a favorable environment for international stakeholders. (Read more)

The PM’s endeavors to attract UAE investment in Cambodia’s oil sector not only demonstrate the nation’s commitment to fostering strategic partnerships but also showcase the government’s unwavering dedication to capitalizing on untapped opportunities for economic growth and sustainable development.

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