Logo of Phnom Penh Post newspaper Phnom Penh Post - Fujian investors eyeing Preah Sihanouk province

Fujian investors eyeing Preah Sihanouk province

Content image - Phnom Penh Post
Minister of Industry and Handicraft Cham Prasidh meeting with Fujian Provincial Federation of Entrepreneurs and Enterprises deputy secretary-general Wei Zheng on Thursday. Ministry of Industry and Handicraft

Fujian investors eyeing Preah Sihanouk province

Investors from Fujian, China have expressed interest in investing in Cambodia, especially in Preah Sihanouk province, as the two countries’ trade volume steadily increases.

During a meeting with Minister of Industry and Handicraft Cham Prasidh on Thursday in Phnom Penh, Fujian Provincial Federation of Entrepreneurs and Enterprises deputy secretary-general Wei Zheng said the association is eyeing potential areas for investment.

These include electricity, mining and energy, infrastructure, ports, environment, telecommunications, electronics, banking, education and special economic developments.

Prasidh said political stability, economic growth and good Sino-Cambodian relations have made the Kingdom an attractive destination for investment.

He noted that Chinese President Xi Jinping’s Belt and Road Initiative has also contributed in attracting Chinese investors to Cambodia.

“I welcome China’s desire to invest in Cambodia, and further encourage others from Fujian province to consider Preah Sihanouk province, which the government considers a multi-purpose special economic zone,” Prasidh said.

He said Prime Minister Hun Sen will soon attend the inauguration of a $150 million road infrastructure expansion project in Preah Sihanouk province.

China remains Cambodia’s largest source of foreign direct investment (FDI) since 2013, investing in key Cambodian sectors including garments, construction, electricity, rice milling, agribusiness, mining and energy, coal and tourism, Minister of Commerce Pan Sorasak said in September.

Ministry of Commerce data shows that Chinese investment in Cambodia continues to grow every year, with FDI reaching $3.594 billion last year, while the volume of trade between the two countries was worth around $6.457 billion.

MOST VIEWED

  • US imposes sanctions on Oknha Pheap and Kun Kim

    The Ministry of Foreign Affairs and International Cooperation expressed strong dismay on Monday over the designation of Cambodian tycoon Oknha Try Pheap and General Kun Kim under the US’ Global Magnitsky Act. “It is very disturbing when the public figures of a country become the

  • Rights Day forum denied in Sihanoukville

    The Preah Sihanouk provincial administration last Saturday denied the request of land communities for a public location in the province to celebrate International Human Rights Day 2019 as the administration had already held forums to discuss land issues. However, the land community representatives said they would

  • Gov’t approves $9B worth of building projects in 2019

    The government has approved more than $9 billion this year for capital investment in the construction sector, a nearly 80 per cent increase on last year, with most of the growth coming from projects in Sihanoukville, according to Minister of Land Management, Urban Planning and Construction Chea

  • Mother, daughter killed in hotel fire

    The bodies of a mother and daughter were found locked in an embrace after they were killed in a hotel fire in Phnom Penh at around 3:30am on Wednesday at the Phkar Chhouk Tep 2 Hotel and Restaurant in Phsar Doeum Kor commune, in the capital’

  • PP residents urged to use public transport

    Minister of Public Works and Transport Sun Chanthol has urged Phnom Penh residents to use the capital’s existing public transport services rather than private vehicles, as it is leading to increased traffic congestion. He also called for the city’s public bus system to

  • Kingdom calls on Japan to increase number of direct flights to Siem Reap, Phnom Penh

    Cambodia is requesting Japan to increase the number of direct flights from Japanese cities and provinces to Phnom Penh and Siem Reap, so as to contribute to increasing cooperation and tourist numbers between the two countries. During the opening ceremony of 3rd Japan Travel Fair