Chinese Firms Express Interest in Investing in Sihanoukville, Cambodia
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A delegation of 17 Chinese industrial firms, led by Shen Mingrong, Chairman of Zhenjiang ZhoungChao New Material Co Ltd, recently met with Prime Minister Hun Manet to discuss their interest in transforming Preah Sihanouk province into a ‘Multi-Purpose Model Special Economic Zone’ (SEZ). The meeting centered around expanding investments, attracting new business ventures, and contributing to the socioeconomic development of Cambodia in line with the government’s policies and strategies.
The industrial enterprises represented in the delegation specialize in various sectors such as finance, textiles, information technology, energy, real estate, rural development, insurance, and environmental management. They are also involved in producing diverse products, including paper and metal. The Chinese delegation expressed eagerness to understand Cambodia’s policies concerning international investment, management and return of investment, workforce management, and promotion of green energy and infrastructure networks.
Prime Minister Hun Manet reassured the delegation that the Royal Government of Cambodia (RGC) maintains an open and flexible policy, fostering close relations with all nations to facilitate a competitive business environment and provide a favorable investment platform. He highlighted the RGC’s focus on human resources development through educational reforms, particularly in vocational and technical training, as well as ongoing efforts to enhance upskilling and reskilling programs.
The RGC has implemented policies to support free capital flow, enabling investors to easily transfer funds in and out of the country through cross-border payment systems. Additionally, Cambodia is committed to increasing the use of clean energy, aiming to reach 70% clean energy consumption by 2030. Presently, the nation already utilizes approximately 60% clean energy sources.
The 17 industrial enterprises that engaged with the Prime Minister include companies such as Yongsheng Holding Co Ltd, Chinese Investment in Cambodia Association, Sabrina Fashion Industrial Corp, Titan Stone Real Estate Group, Qingdao Huatong State-Owned Capital, Guangdong Huate Gas Co Ltd, Titan Stone Life Insurance Group, China Everbright Environment Group Limited, Nam Liong Group, Shanghai Shirong Paper Industry Co Ltd, Qingdao Huijun Environment Energy Engineering Co Ltd, Informaxx International Investment Co Ltd, R&F Properties HS (Cambodia) Co Ltd, Shanghai Celefit Limited, Alliance Promised Land, and Zhongda United Holding Group Co Ltd.
This meeting highlights the Chinese firms’ keen interest in investing in Sihanoukville, Cambodia, and signifies the potential for further economic growth and opportunities for both countries.
Source: Khmer Times
