Phnom Penh – Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen will today address the Cambodia China Business Forum and Financial Development Forum at Garden City Hotel in Phnom Penh, which will bring together leading business people and government leaders from Cambodia and China.
The forum, the first of its kind in Cambodia, is being organized by China’s leading private investment firm, China Minsheng Investment Group (CMIG), and Cambodia’s Ly Yong Phat Group (LYP Group), and came about following a meeting between the Cambodian Prime Minister and CMIG Chairman Dong Wenbiao in Phnom Penh in September.
The forum tagline, “Cambodia: The Kingdom of Opportunity Along The “One Belt, One Road”, underlines the commitment of the Royal Government of Cambodia, the Chinese government and private enterprises like CMIG to make progress in developing opportunities for Chinese investment in Cambodia, whose economic growth has been described as “Olympian” by the Asia Development Bank (ADB).
The presence at the forum of so many decision-making business leaders and officials from both China and Cambodia singles this forum out as a real opportunity to ramp up business and investment opportunities between the two countries.
During Chinese President Xi Jinping’s state visit to Cambodia in October he affirmed during a meeting with Prime Minister Hun Sen that China stood ready to participate fully in Cambodia’s economic development through economic cooperation and mutually beneficial investment as part of the “One Belt, One Road” initiative.
The forum is a further sign of a burgeoning Sino-Cambodian relationship that has already seen significant Chinese investment in projects like the Sihanoukville Port Special Economic Zone, a project underwritten by China’s Hongdou Group, a shareholder in CMIG.
Another CMIG-related Chinese firm, Fudian Bank, is also actively investing in Cambodia as part of the expansion of its wide geo-financial networks covering southeast Asia including Cambodia, Laos, Vietnam, Thailand, Malaysia and Singapore.
The forum is expected to attract hundreds of delegates from China – including over 300 guests from CMIG’s shareholder enterprises as well as representatives from the Asia Financial Cooperation Association (AFCA), the All-China Federation of Industry and Commerce (ACFIC), the China Council for the Promotion of International Trade (CCPIT).
Cambodian delegates are expected to include His Excellency Sok Chenda Sophea, Secretary General of the Council for the Development of Cambodia, His Excellency Chea Sophara, Minister of Land Management, Urban Planning and Construction and His Excellency Chea Chanto, Governor of the National Bank of Cambodia as well as leading Cambodian business people and associations. Discussions at the forum will focus on topics like China-Cambodia industrial and financial cooperation and will explore case studies of previous Chinese investments in Cambodia with a view to improving their efficiencies and benefits.
The forum is expected to culminate with a major signing ceremony featuring the inking of investment and cooperation agreement(s) between Chinese and Cambodian officials and businesses.