A representative of the Chinese company Jiangxi Provincial Building Material Group has indicated that the company is interested in investing in a cement plant in Cambodia.
On 29 August, company president Wensheng Chen led a Chinese investment delegation to Cambodia with the objective of studying the investment environment and opportunities in the country. They held discussions with leaders and officials from the Council for the Development of Cambodia (CDC).
“The purpose of our current visit to Cambodia is to gain a deeper understanding of the investment environment in the Kingdom,” said Wenshen according to the press release of the CDC.
Chea Vuthy, Secretary General of the CDC’s Cambodia Investment Board, welcomed the proposed investment, stating:
“It will contribute to the development of Cambodian industry, particularly the construction sector but the company has to consider contributing to environmental protection through the use of modern technology and clean energy.”
During the meeting, Vuthy outlined the role and responsibilities of the CDC in attracting private investment and highlighted the rapid growth of Chinese investment into Cambodia. He added that Cambodia currently has open, transparent and predictable investment laws and regulations, due to the favourable factors of peace and political stability.
The CDC statement indicates that in the period from September 2023 to August 2024, the CDC approved 391 new and expanded projects, representing a total investment of over $7.5 billion and the creation of approximately 340,000 jobs. During this period, investment from China accounted for 60% of the total investment, while domestic investment accounted for 32% of the total.
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