Prominent Cambodian-based investors are joining forces to shed light on the Law on Trust and advertise the Kingdom’s investment environment, to make up for missed opportunities due to the Covid-19 pandemic as the local outbreak remains under control.
A memorandum of understanding (MoU) was signed to this effect on May 27 by Cambodian Investment Management, a company that has overseen many joint ventures and provides multiple services in the Kingdom; Prince Trust, a member of Prince Holding Group; and real estate website Realestate.com.kh.
Cambodian Investment Management CEO Anthony Galliano said that under the MoU, the three companies would come together to guarantee the safety and security of investors based in the Kingdom.
“The message is: ‘Come to invest in Cambodia,’” Galliano said, taking the opportunity to share his success in running businesses in the Kingdom since 2009. Cambodian Investment Management entered Cambodia in 2009 as a “little baby” with only two staff members, he said.
“Cambodia is open for business, one of the most attractive investment destinations in the world, with one of the best economic growth records,” Galliano added.
At the MoU singing, Michael Chiam, board director of Prince Trust, one of Cambodia’s largest business groups spanning across real estate development, financial services and consumer services, said: “We established Prince Trust to assist foreign investors looking to venture into Cambodia by promoting trust law.
“Together with the strong credibility and market awareness of Cambodian Investment Management and Realeastate.com.kh, we will be able to leverage on our respective competitive strengths in addressing the needs of foreign real estate investors looking into Cambodia,” he said.
The trust law was promulgated on January 2, 2019 by Royal Decree No NS/RKM/0119/002, less than a full year before the emergence of Covid-19, which plunged the world into unprecedented crises and dysfunction.
