Logo of Phnom Penh Post newspaper Phnom Penh Post - CDC set to launch advert blitz to lure investors

CDC set to launch advert blitz to lure investors

CDC set to launch advert blitz to lure investors

T HE Council for the Development of Cambodia (CDC) is about to launch a major international media campaign to promote investment.

The start of the drive is timed to coincide with the three-day World Economic Forum on Oct 12-14 in Singapore, to be attended by hundreds of top businessmen.

Full-page adverts trumpeting the Kingdom as a prime business opportunity are to be placed in a number of leading publications, including the International Herald Tribune, Time, Asian Wall Street Journal and The Economist.

The substance of the thrust is based around the passage of the Investment Law in August, which included a generous package of tax breaks.

Chanthol Sun, the CDC's secretary general described the law as a "breakthrough." He said: "We want to let the outside world know that Cambodia has a lot to offer the investor. We want to let it be known that our incentives are the most generous in the region, if not the world.

"We want to change Cambodia's image and create a whole new look, to leave the past behind for a bright new future."

The campaign - said by Chanthol to cost less than $1 million - has been approved by both Premiers. Prince Norodom Ranariddh, also the CDC's chairman, sees it as a way of countering the damage done to the country's image by reports on security problems.

It is being masterminded by the world's biggest advertising agency McCann Erikson, which this year set up an office in the capital. Chanthol refused to say what the content of the ads would be but promised a bold slogan which would "make people pay attention."

In addition to the media campaign, CDC executives are to tour the region to drive the message home at a series of seminars. They will include the showing of a new 10-minute CDC video to promote Cambodian culture and resources as well as highlight advantages for investors. The seminar tour will begin with a "networking breakfast" at the World Business Forum and will take in Seattle, Jakarta, Hong Kong, Taiwan and Korea.

The CDC is particularly keen to encourage investment in light industry such as garments and electrical component assembly, tourism, agriculture and aquaculture.

Chanthol said that within 10 days of the Investment Law being passed, businessmen from Sing-apore, Taiwan and Malaysia had submitted plans for10 investment projects totalling $40 million.

The projects, sited around Phnom Penh, have now all been approved. They include a glove-making factory and beverage company, which may export as well as serve the Cambodian market.

A 14-strong business delegation which visited last month was also highly impressed by investment opportunities, said Chanthol.

Among the projects they were interested in starting was canning agricultural products and exporting soy beans.

MOST VIEWED

  • Purging Sihanoukville’s past with a new masterplan

    Amid illicit activities, haphazard development and abandoned projects, the coastal city of Sihanouk province needs a reset to move forward. A new masterplan might be the answer to shake off its seemingly mucky image to become the Shenzhen of the south Gun toting, shootouts, police

  • Chinese may be first in tourism revival: PM

    Cambodia's tourism industry is gearing up to roll out the red carpet for Chinese travellers after Prime Minister Hun Sen on September 17 indicated that the Kingdom could soon throw open its doors to international holidaymakers vaccinated against Covid-19 – starting with guests from China. Cambodia Chinese

  • 'Pursue your goals, reach out to me': Young diplomat tapped as envoy to South Korea

    Chring Botum Rangsay was a secretary of state at the Ministry of Foreign Affairs and International Cooperation before being designated as the new Cambodian ambassador to South Korea. According to her official CV published on the foreign ministry’s website, she started her first government

  • Tourism concerns laid bare

    To ensure the success of plans to reopen the tourism market for international visitors, Cambodia must pay utmost attention to two primary determinants – the ongoing paradigm shift in domestic tourism services towards the ‘new normal’, and the factors influencing choices of destinations among foreign holidaymakers.

  • Covid jab drive for 6-11 age group to begin Sept 17

    Prime Minister Hun Sen has permitted Covid-19 vaccinations for over 1.8 million children aged 6-11 across the country from September 17 in order for them to return to school after a long hiatus. Hun Sen also hinted that vaccinations for the 3-6 age group will follow in

  • No ‘Crown Prince’ exists to buy France football club: ministry

    The Ministry of the Royal Palace has denied media reports that a Cambodian “Crown Prince” had purchased the AS Saint Etienne football club of France’s top-flight LIGUE 1 at the cost of €100 million ($117 million). In a press statement on September 19, the ministry stressed that Cambodia