Home » Cambodian Prime Minister and US Companies Aim to Boost Investment in Cambodia

Cambodian Prime Minister and US Companies Aim to Boost Investment in Cambodia

by Surya Narayan
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On February 28, 2024, Cambodian Prime Minister Hun Manet engaged in discussions with representatives from 17 US-based companies, showing a collective interest in augmenting investments within Cambodia. The dialogue was facilitated by a courtesy visit from Brian D. McFeeters, the Senior Vice President and Regional Managing Director of the US-ASEAN Business Council.

During the meeting, McFeeters and his delegation expressed their appreciation for the opportunity to discuss business prospects with Prime Minister Hun Manet. They lauded the considerable advancements Cambodia has made across various sectors. McFeeters conveyed that the US-ASEAN Business Council, representing leading companies from diverse fields such as technology, social media, tourism, finance, energy, and manufacturing, is keen on deepening its investment footprint in Cambodia. Notable companies under this umbrella include FedEx Express, Pfizer, MasterCard, Visa, Meta (Facebook), ADM, Chevron, and Manulife, all of which are exploring opportunities to expand their operations in the country.

Prime Minister Hun Manet welcomed the council’s interest and acknowledged the positive impact of their investments on Cambodia’s economic landscape. He commended the private sector’s pivotal role in fostering socio-economic growth and enhancing public-private partnerships.

Highlighting the Royal Government’s strategic initiatives, Prime Minister Hun Manet outlined the Pentagon Strategy-Phase I and the supportive investment policy framework. He emphasized the conducive investment climate in Cambodia, marked by political stability, social order, and attractive incentives for investors, including the development of specialized economic zones designed to meet the specific needs of various industries.

The Prime Minister encouraged the US-ASEAN Business Council to maintain its collaborative efforts with Cambodian government bodies, institutions, and other stakeholders. The aim is to devise and execute comprehensive action plans that will further promote investment in Cambodia’s private sector, contributing to the nation’s continued economic development and prosperity.

Source: Khmer Times

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