Hun Sen: Kingdom favourable for investment
The Cambodia-Sri Lanka Business Forum which was held on Wednesday served to enhance trade and economic relations between the two countries.
The forum was attended by Prime Minister Hun Sen and Sri Lankan President Maithripala Sirisena apart from private sector representatives from both countries.
Speaking at the forum, Hun Sen highlighted the Kingdom’s potential for foreign investors. “I assure all investors that Cambodia’s environment is favourable for investment. There is peace, security and political stability here, as well as microeconomic stability and a solid legal framework.
“I encourage Sri Lankan investors to hold more discussions with Cambodian businessmen and representatives of relevant ministries to explore the investment potential and opportunities in Cambodia, and also decide on investing,” he said.
He said from 2014 to last year, the Council for the Development of Cambodia (CDC) approved a total of 959 projects worth $23 billion, and that in the first half of this year, it had approved a total of 153 projects worth $5.2 billion – an increase of 48 projects compared to the same period last year.
The bilateral trade volume between Cambodia and Sri Lanka in 2016 was nearly $10 million. Of that, Cambodia imported nearly $4 million and exported more than $5 million.
However, the trade volume between the two countries fell to just nearly $4 million last year.
Cambodia imported goods from Sri Lanka such as wheat flour, advertising materials, plastic products, cotton woven fabrics, gauzes, weaving lines, ropes and cables. The Kingdom exports to Sri Lanka include beer, processed food, rubber, cotton embroidery and weaving fabrics.