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Logo of Phnom Penh Post newspaper Phnom Penh Post - Singapore group eyes investments

Singapore group eyes investments

A delegation representing 21 companies from Singapore met government officials this week to discuss investments potentially worth hundreds of millions of dollars.

Delegation head Lawrence Leow, who is the deputy honorary secretary of the Singapore Business Federation, told the Post Thursday the group was looking at four key areas: tourism, agriculture, education and logistics.

"We see the progress, very steady progress in the country," he said. "The people are very warm, and the government is very helpful; I think it is good for foreign investments."

He said he could not speak for other investors, but that his company, the Crescendas Group, would invest between $30 million and $50 million in the tourism sector.

"It depends on the project but I will invest in Cambodia. I'm coming back very soon ... to continue my discussion," he said.

An official from the Center for the Development of Cambodia, the country's key investment body, said the centre briefed the delegation Wednesday about the local investment environment.

"They wanted to know about investment in Cambodia," he said. "We gave them a briefing about our investment law and our macroeconomic situation," was all the official would say. He declined to give his name.

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