Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia has great potential for FDI

Cambodia has great potential for FDI

Cambodia has great potential for FDI

An assistant to former US president Bill Clinton said Cambodia has many potential areas for foreign direct investment (FDI) from many countries, including the US.

Karen Tramontano, founder, along with Clinton, and president of the Global Fairness Initiative and CEO at Blue Star Strategies, met with Deputy Prime Minister Sok An in Phnom Penh yesterday.

“Cambodia has much potential in the garment industry, agriculture, tourism, construction and others, attracting a lot of foreign direct investment.

“Cambodia has a very positive business climate and it is important to attract more foreign investment,” Ek Tha, spokesman for the Office of the Council of Ministers quoted Tramontano as saying.

According to Ek Tha, Sok An said Cambodia attracts because of two main reasons: political and macroeconomic stability.

“That’s why Cambodia can attract millions [of dollars] in investment.”

Sok An said the price of electricity in Cambodia will be much lower in the coming years as eight hydro-electric projects are being developed.

He said they will be completed soon.

Cambodia’s total exports to the US increased by 0.2 per cent over the first 10 months of 2012.

They totalled $2.296 billion compared to $2.291 billion in the same period of 2011, according to data from the US Department of Commerce.

Data from the Council for the Development of Cambodia showed Cambodia received $8.6 million in foreign direct investment from the US over the first seven months of 2012.

To contact the reporter on this story: May Kunmakara at [email protected]

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • China-Cambodia tourism forum held

    The Cambodian tourism sector must be prepared to welcome a growing number of Chinese tourists, as they lead the globe in the number of outbound travellers and were responsible for the most visitors to the Kingdom last year, the country’s tourism minister said on