China's Yunnan businesses seek investment in Cambodia

The Association for Economic Cooperation and Trade Promotion between Yunnan and Southeast and South Asia (ECTPA) on Friday signed an investor facilitation cooperation agreement with Chinese Chamber of Commerce in Cambodia, aimed to seek business opportunities in the country.

The agreement was signed by Jammy Gao, president of Chinese Chamber of Commerce in Cambodia and Wang Guoliang, vice chairman of the ECTPA.

Under the agreement, when there is an investment delegation from Yunnan province to seek investment opportunity in Cambodia or vice-versa, each party has obligation to assist and arrange meetings with local businesspeople or government officials in order to facilitate them in their investment seeking purpose.

Niu Shaoyao, chairman of the association, said that the delegation consisted of investors from 13 investment companies in Yunnan, which specialize in construction, mining, post express logistics, steel factory, real estate development, technology, and agriculture.

"Our visit to Cambodia is to explore investment opportunities," he said.

During the five-day visit, the delegation has met with Cambodia 's Second Vice President of the Senate Tep Ngorn and Deputy Prime Minister Men Sam On as well as some investors in Cambodia.

"We have learnt that Cambodia has huge potentials and its law is preferential for investors," he said. "Chinese investors in Cambodia have told us their successful experiences in their investments."

"I believed that during the visit, investors from Yunnan would be able to find good investment partners or favorable sectors in Cambodia for their future investment plans," he added.

Jin Yuan, economic and commercial counselor of the Chinese embassy in Cambodia, said during the signing ceremony that even though Cambodia is a small and poor country, but it is an attractive place for foreign investors for its rich natural resources and political stability and its emerging economy.

"It is an opportunity for investors from Yunnan province to do business in Cambodia," he said. "Moreover, the relation between Cambodia and China has reached the comprehensive strategic partnership of cooperation, which builds more confidence for Chinese investors in Cambodia."

The delegation arrived in Cambodia on Thursday after visiting Laos and Thailand for investment opportunity seeking.

Source: Xinhua