German firms seek to invest in Kingdom

May 14th at 10:16
14-05-2024 10:16:36+07:00

German firms seek to invest in Kingdom

With the Cambodian economy poised for over six percent growth this year with support from a proactive government, a visiting German delegation is keen on investing in several key projects including construction, tourism, water supply, recycling, green investment, information technology, and industrial structure.


Nut-Un Voanra, Deputy Secretary General of the Cambodian Investment Board (CIB) of the Council for the Development of Cambodia (CDC) received the delegation of 30 German businessmen and investors led by Alexander Ziehe, President of the German Business Association (GBA) and Peter Kompalla, Chief Representative of the German Chamber of Industry and Commerce (AHK) in Vietnam.

The meeting organised on Friday at the CDC aimed to strengthen the German business network with the Royal Government of Cambodia (RGC) as well as to seek more investment opportunities in the Kingdom.

Voanra warmly welcomed all the delegates who spent time examining and witnessing the real situation of the progress of the socio-economic development in the nation and its investment potential.

He shared with the German delegation the macroeconomic situation, investment laws and sub-decrees, priorities sectors, incentive framework and policies, registration and facilitation, the development of special economic zones (SEZs), key infrastructure and logistic projects especially the readiness of the CDC and RGC to provide proactive support to foreign investors.

The German business delegation expressed pleasure in better understanding the leadership structure and the important roles of the CDC, as well as the investment situation and opportunities in the country.

They were also interested in the Kingdom’s priority projects such as construction, tourism, water supply, recycling, green investment, information technology and industrial structure.

The Deputy Secretary-General also took the chance to brief the delegation on the prospects of attracting more German investment to Cambodia in the near future. He also thanked the German investors for coming to visit both CDC and the Kingdom.

According to CDC, the delegation that visited Cambodia was also engaged in business and investment activities in Vietnam in the fields of manufacturing, technology, hospitality, education and services.

Further, they also aimed to explore the potential and investment opportunities in the Kingdom, the statement added.

Ly Khun Thai, Vice President of the Cambodia Chamber of Commerce (CCC) told Khmer Times that Germans generally invest in projects that have a clear master plan such as a suitable location for the project implementation, the competitive market in the industry and research on future risks.

He emphasised that domestic businessmen who want to operate their business along with Germans should prepare a clear development plan so that foreigners have the confidence to cooperate and invest in those projects.




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