Cambodia Investment Review
The Phnom Penh Forum on “Belt and Road” Economic Cooperation was organized to facilitate the expansion of Chinese small and medium enterprises (SMEs) into Cambodia. The forum emphasized the importance of attracting transparent and high-quality investors, as Cambodia prepares for a ‘second and third wave of Chinese investment’ in the post-pandemic landscape.
The event was attended by a distinguished delegation comprising Chinese entrepreneurs, Cambodian political leaders, and business representatives from various countries. Entrepreneurs were also present at the forum with backgrounds in government departments, contributing their expertise in policy interpretation and government affairs relations to the discussions.
A platform for all entrepreneurs to communicate
Organized under the “Belt and Road” common development initiative, the “Belt and Road” Global Economic Cooperation Association focuses on exchanging information on economic projects and implementing project cooperation.
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The association’s purpose is “Interconnection, mutual benefit, joint consultation, joint construction, and win-win sharing.” It serves as a platform for entrepreneurs from different countries to communicate and is gradually advancing toward internationalization and globalization.
Cao Fang, Secretary-General of the United Nations consulting agency Global Alliance of Small and Medium Enterprises, led the “Thousands of Chinese Enterprises Entering Cambodia” campaign, hoping to introduce more Chinese entrepreneurs to Cambodia and help them find overseas opportunities.
In his speech, Cao Fang emphasized Cambodia’s appeal to entrepreneurs, stating, “Cambodia, as one of China’s friendly countries, offers integration into the international market, a government that respects entrepreneurs, geographical advantages, labor cost advantages, and appreciating housing prices. The crucial factor is Cambodia’s rapidly growing economy, known as the ‘new tiger of the Asian economy,’ which is attracting increasing investor attention.”
Assisting Chinese SMEs enter the Cambodian market
An industry panel discussion featured firms capable of assisting Chinese SMEs looking to enter the Cambodian market with reliable and knowledgeable partners, including market consultancy firm AquariiBD Cambodia and real estate and advisory firm Knight Frank Cambodia.
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Michael Tan, CEO of Aquarii, highlighted Cambodia’s investment potential: “In business investment decisions, it is crucial to consider the stability of the political environment. AquariiBD provides consulting services to foreign investors, helping them understand the market. I have confidence in Cambodia’s continued peace, political stability, socio-economic development trajectory, and other favorable factors and considerations.”
Ross Wheble, Country Director of Knight Frank Cambodia, added, “Knight Frank is one of the premier real estate agents in Cambodia. Our extensive knowledge of the Cambodian real estate market allows us to connect local and international real estate buyers and tenants with their ideal commercial and residential properties in Cambodia. We build long-term relationships, enabling us to provide personalized, clear, and considered advice on all areas of property in all key markets.”
Strengthening economic ties between China and Cambodia
Cambodia aims to continue promoting and diversifying its exports while capitalizing on existing opportunities and preparing for new market opportunities to strengthen competitiveness, particularly for exports to regional countries. These opportunities hold potential for local and foreign businesspeople and investors, especially Chinese entrepreneurs.
Read more: Investment flow continues to Cambodia’s agri-tech sector
The recently signed Action Plan on Trade and Economic Cooperation 2023-2024 is expected to promote the utilization of preferential arrangements granted by free trade agreements (FTA) and similar regional treaties, boosting trade and investment between Cambodia and China.
With the Phnom Penh Forum serving as a platform to strengthen economic ties and facilitate Chinese SMEs’ entry into the Cambodian market, the future looks promising for increased cooperation and investment between the two nations.
