A senior official of the Council for the Development of Cambodia (CDC) has requested a Canadian international trade delegation to help promote Cambodia’s investment potential and opportunities among Canadian investors and businesspeople, and to consider the possibility of investing in renewable energy and agro-industry sectors.
H.E. Chea Vuthy, Secretary General of the CDC’s Cambodian Investment Board, made the request while he was receiving here late last week the Canadian delegation, led by Mr. Paul Thoppil, Canada’s Indo-Pacific Trade Representative, to discuss Cambodia’s investment environment and ways to promote bilateral trade cooperation between the two countries.
H.E. Chea Vuthy briefed his guest about Cambodia’s favourable investment environment as well as the law on investment which establishes an open, transparent, and predictable legal framework to attract and promote quality, effective and efficient investments.
For his side, Mr. Paul Thoppil thanked H.E. Chea Vuthy for the detail information
, and informed him about Canada’s Indo-Pacific Strategy, stressing that Canada wishes to see Cambodia play a key role in this strategy.
The Canadian side also acknowledged Cambodia’s high potential including peace, political and economic stability, openness of investment incentives, and young labour force, but laid stress on the necessity to promote Cambodia to the Canadian business community by mentioning the success of Canadian investment in Cambodia such as ABA Bank and Manulife insurance company.
Besides, he insisted on the importance to conclude the negotiations on ASEAN-Canada Free Trade Agreement, which will contribute to attracting Canadian investment to Cambodia.
H.E. Chea Vuthy reaffirmed the CDC’s readiness to cooperate with the Canadian side on the promotion of Cambodia as an attractive investment destination. He added that on Sept. 26, 2024, H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of CDC, would lead a delegation to Canada to promote Cambodia’s investment potential and
opportunities to the Canadian business community.
Source: Agence Kampuchea Presse