Home » NBC and US-ASEAN Business Council Discuss Collaborative Ventures and Investment Prospects

NBC and US-ASEAN Business Council Discuss Collaborative Ventures and Investment Prospects

by Surya Narayan
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Dr. Chea Serey, the head of the National Bank of Cambodia (NBC), recently held a meeting with the US-ASEAN Business Council (US-ABC), focusing on collaborative business initiatives and the investment landscape for prominent American corporations. The assembly saw participation from high-level executives of major companies, including VISA, Mastercard, and Ford.

The dialogue centered around the progression of business activities, hurdles encountered, and NBC’s vision for economic and financial sector advancement. Dr. Serey shared insights into the robust prospects of Cambodia’s economy, highlighting the growth avenues and obstacles within the financial sector, along with the country’s key economic potentials.

Further, Dr. Serey elaborated on the Royal Government of Cambodia’s (RGC) policies aimed at attracting investments and encouraging the usage of the local currency, the riel, in economic transactions. The growth of the banking and electronic payment systems, which have seen a significant surge, was also a topic of discussion, with Dr. Serey extending gratitude to the American companies for their pivotal role in the digital transformation of payment systems and the banking sector’s evolution.

Dr. Serey emphasized NBC’s efforts in enhancing the financial ecosystem’s transparency and fostering interconnected payment systems regionally. She urged American corporations to consider increasing their investments in Cambodia, citing the nation’s promising prospects in manufacturing, tourism, agriculture, and finance, and expressed confidence in the country’s future economic growth and development.

In a related event on Wednesday, the US-ABC met separately with Prime Minister Hun Manet and Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC), to discuss investment opportunities. The RGC reassured American businesses of its cooperation with the CDC, particularly through the Qualified Investment Project Registration (QIP Online) platform, designed to streamline the investment proposal process for investors.

The US-ABC delegation sought support from Chanthol in easing the investment, trade, and business operations of American companies in Cambodia. The Deputy Prime Minister assured them of CDC’s commitment to facilitating investments through the QIP Online system, highlighting the Kingdom’s investment-friendly laws that welcome investors from all nations, including the US, China, Thailand, and Japan.

Source: Khmer Times

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