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Chinese delegation scopes out Kingdom

Chinese delegation scopes out Kingdom

A group of Chinese entrepreneurs are on a four-day visit to the Kingdom to explore investment opportunities to expand their presence in the country.

Organised by Tianxia Chaoshang Economics (TXCS), the group is by Li Songjian, the chairman of Mingyuan Group Limited.

On Monday the participants attended TXCS’ fifth annual conference in the capital where they heard from Sok Chenda Sophea, secretary-general of The Council for the Development of Cambodia (CDC) and Pung Kheav Se, the president of the Federation of Khmer-Chinese in Cambodia.

Speaking at the forum, Chenda Sophea said Cambodia is the most open and liberal country where investors can jump into any sector without capital control, and take money out of the country without restrictions.

He said the recent influx of mainland capital is not surprising as both China and Cambodia have a long history of diplomatic ties, as well as more flights between the two nations bringing in tourists.

“Five years ago, there were only about five flights per week connecting China and Cambodia, but now there are about 88 flights per week.

“When countries are more connected by air, water and land, this will not only help accelerate tourism but also push many other sectors,” he said.

Chenda Sophea told the Chinese delegation that there are at least 80 high-rise building projects in the capital, and most of them are funded by investors from China.

The group consists of 42 investors from 35 Chinese enterprises spanning the real estate, agriculture, technology, healthcare and biotech industries.

After arriving on Sunday the group is scheduled to meet with Prime Minister-designate Hun Sen on Tuesday.

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