Fujian investors eyeing P Sihanouk province
Fujian investors eyeing P Sihanouk province
Investors from Fujian, China have expressed interest in investing in Cambodia, especially in Preah Sihanouk province, as the two countries’ trade volume steadily increases.During a meeting with Minister of Industry and Handicraft Cham Prasidh on Thursday in Phnom Penh, Fujian Provincial Federation of Entrepreneurs and Enterprises deputy secretary-general Wei Zheng said the association is eyeing potential areas for investment.
These include electricity, mining and energy, infrastructure, ports, environment, telecommunications, electronics, banking, education and special economic developments.
Prasidh said political stability, economic growth and good Sino-Cambodian relations have made the Kingdom an attractive destination for investment.
He noted that Chinese President Xi Jinping’s Belt and Road Initiative has also contributed in attracting Chinese investors to Cambodia.
“I welcome China’s desire to invest in Cambodia, and further encourage others from Fujian province to consider Preah Sihanouk province, which the government considers a multi-purpose special economic zone,” Prasidh said.
He said Prime Minister Hun Sen will soon attend the inauguration of a $150 million road infrastructure expansion project in Preah Sihanouk province.
China remains Cambodia’s largest source of foreign direct investment (FDI) since 2013, investing in key Cambodian sectors including garments, construction, electricity, rice milling, agribusiness, mining and energy, coal and tourism, Minister of Commerce Pan Sorasak said in September.
Ministry of Commerce data shows that Chinese investment in Cambodia continues to grow every year, with FDI reaching $3.594 billion last year, while the volume of trade between the two countries was worth around $6.457 billion.
