The WorldBridge Group has hosted the first-ever ‘Cambodia Night’ investment event at the annual Davos World Economic Forum in Switzerland.
The event was attended by Ministers, CEOs from multinational companies, and global policymakers and featured welcoming remarks delivered by Neak Oknha Sear Rithy, followed by the keynote from the guest of honor, Prime Minister Hun Sen.
This year’s Davos forum marked the first time a Cambodian company has become a WEF member at the Associate Partner level the economic forum brings together over 2,500 global leaders.
Invited guest were able to sample food prepared by celebrity Cambodian chefs Kimsan Pol and Kimsan Sok, who are best known for their modern interpretations of traditional Khmer cuisine at Sombok Restaurant in Phnom Penh.
Showcasing Cambodia to the world
Speaking the event Prime Minister Hun Sen stated: “As Cambodia is assuming its role as the Chair of ASEAN in 2022, this is the first time for Cambodia to host the Cambodia Night at the World Economic Forum Annual Meeting,” Prime Minister Hun Sen said.
“This event will showcase to investors and tourists about Cambodia’s past achievements, potential investment opportunities, culture, traditions, food, and its other potentials,” he added.
Neak Oknha Sear Rithy the Chairman of WorldBridge Group added: “The World Economic Forum is a gathering of global importance. We are proud to help share Cambodia with these leaders and attest the fact that Cambodia is a great place for investment and business.”
The Cambodian Chamber of Commerce (CCC) has set high expectations that in 2022, the growth of foreign investors wishing to invest in Cambodia will be more than in 2021.
This expectation comes as the chamber claimed that Cambodia’s vaccinated population was close to achieving its goals across the country and the trade agreements with a number of major countries had entered into force.
New investment law ready to go
Speaking to Cambodia Investment Review Worldbridge Group spokesperson Mr. Allen Dodgson Tan said there was substantial interest from the attendees in learning more about the investment incentives in Cambodia.
“The night was a great opportunity for international investors to learn more about Cambodian culture as well as the fantastic investment opportunities on offer in conjunction with the new law on investment being implemented,” Tan said.
The new law implemented by the Council for Development in Cambodia has been welcomed by the international business community and aims to increase capital inflow and encourage economic diversification of the local economy.
The law also provides incentives to prioritized sectors to foster development in science and technology, job creation, skills training, research, innovation, and small and medium enterprises. To read more about the new law on investment click here.