A concept drawing of an agro-industrial park planned for development in Cambodia. Supplied
The leadership of the Zhengzhou Agricultural Development Group, based in China’s Henan province, has expressed interest in investment opportunities in Cambodia, particularly in the development of agro-industrial parks.
Zhou Fuqiang, chairman of the Standing Committee of the People's Congress of Zhengzhou City, welcomed a Cambodian delegation led by Sun Chanthol, first vice-president of the Council for the Development of Cambodia (CDC), to the city, during a March 17 official visit.
He explained the potential of Henan Province and the development work of the Zhengzhou Agricultural Development Group, particularly in the establishment of agro-industrial parks located in a special economic zone near Zhengzhou International Airport.
“The development group may be interested in exploring the feasibility of investments in Cambodia in the near future,” he told the CADC delegation.
Chanthol highlighted the numerous benefits Cambodia offers to investors, especially from China.
The benefits include peace and political stability, macroeconomic stability, a youthful labour force which is open to new training and a favourable geographical location for global transportation.
“Beyond all these factors, foreign investors in Cambodia also receive support from the government for the growth of the private sector through the government-private sector forum, flexible and favourable investment laws, comprehensive transport infrastructure and better integration of the country and region,” explained Chanthol.
“With its ideal geographical location, Cambodia is expected to become a future hub for economic development in the region,” he added.
Hong Vanak, director of International Economics at the Royal Academy of Cambodia, told The Post on March 18 that diplomatic relations, geographical conditions, investment laws, and export market factors with favourable tax incentives from multiple countries have encouraged more Chinese investment in Cambodia.
He noted that at present, Chinese capital is present in almost every sector, from small businesses to large factories and enterprises which employ modern technology.
“If Cambodia can attract more Chinese investors to invest in special economic zones and agro-industrial parks, it will attract even more foreign investors, especially Chinese nationals,” he said.
To enhance attraction and create a favourable environment for Chinese investors, the CDC now has a dedicated China Desk to provide advisory services to Chinese investors.
