Cambodian PM encourages Chinese entrepreneurs to invest more in Cambodia

PHNOM PENH, Aug. 28 (Xinhua) — Cambodian Prime Minister Samdech Techo Hun Sen on Tuesday encouraged Chinese entrepreneurs to invest more in Cambodia, saying that their investments were vital for the socio-economic development and poverty reduction of the country.

Hun Sen made the remarks during a meeting with a 42-member business delegation of the Tianxia Chaoshang Economic Conference led by Li Songjian, chairman of Mingyuan Group Limited, according to Sry Thamarong, a minister attached to the Cambodian prime minister.

The prime minister informed them about the four priority sectors — human resource, road, water, and power — that the government has mainly focused on, and encouraged them to invest in these sectors.

He also encouraged them to invest in setting up universities.

Hun Sen also praised China for its “no strings attached” aid and investments in the development of infrastructures such as roads and bridges, and hydropower plants in Cambodia.

“China is a friend whom we can trust,” Thamarong said. “China helps us sincerely and its assistance has never had any strings attached.”

China is currently the largest source of both foreign direct investment and tourists to Cambodia.

Thamarong said the kingdom had attracted fixed asset investment of about 19 billion U.S. dollars from China from 1994 to date.

For tourism, Cambodia received over 1.2 million Chinese tourists in 2017, and was expected to greet up to three million in the next few years, he said.