The Vice-Chairman of the CDC Leads a Delegation to Qingdao, Shandong Province, China

H.E. Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia (CDC), pays a four-day visit to Qingdao, Shandong Province, China, from January 5 to 8, 2024, accompanied by the leaders of the Cambodian Oknha Association.

The visit aims to mobilize and persuade Chinese investors to invest in Cambodia, which is a quote from "knock on the door of Chinese investors to come to Cambodia."

On the first day of the trip, Chanthol leading an official delegation visited the Sailun Group Co Ltd (Sailun Group) guided by Yuan Zhong Xue, Board Member of NRC and Chairman of Sailun Group in Qingdao city, China. 

During the meeting, Yuan divulged the company’s keenness to further strengthen cooperation with the Royal Government of Cambodia (RGC), especially on the investment in Cambodian national rubber and the construction of rubber processing plants as well as building industrial parks in the Kingdom.

Chanthol appreciated the existing investment of the Sailun group in Cambodia’s tire production and encouraged all investors who are keen on expanding their production chain in the Kingdom.

He told the investors that the RGC welcomes more international investment in various sectors which is in line with the Industrial Development Policy 2015-2022, efforts to promote the Kingdom to become a high-income country in 2050 by shifting to high technical resources and implementing digitalisation across the country.

“Cambodia is completely peaceful under the leadership of former Prime Minister Hun Sen and the continued efforts of Prime Minister Hun Manet which allowed the nation’s economy to grow about seven percent annually before Covid-19 took over in late 2019. Despite all the challenges, the Kingdom’s economy still increased by 5.3 percent last year and is estimated to reach 6.3 percent by the end of 2024,” Chanthol said. He added that 60 percent of Cambodian’s total population are young people aged under 25 which is the most important factor in human resources management that would help further boost the economy in line with the priorities sector of RGC including the promotion of roads, electricity, water, human resources and technology.

For Cambodia's infrastructure, there are roads connecting the whole country, there are roads connecting to neighboring countries, Phnom Penh-Sihanoukville Expressway, Phnom Penh-Bavet Expressway, Phnom Penh-Siem Reap-Poipet Expressway,  Phnom Penh-Sihanoukville Railway Upgrading Project, Phnom Penh-Poipet Railway Improvement Project, Phnom Penh-Bavet New Railway Study Project, Sihanoukville Deep Water Port Construction Project, Kampot Port Construction Project, Koh Kong Port Construction Project, Funan Techo Canal Project, and the master plan for logistics.

The Deputy Prime Minister further stated that the Royal Government considers the private sector as an important partner, including the establishment of 14 working groups from the public and private sectors to work together to solve problems of the private sector. Cambodia has an investment law that encourages all investors to invest in Cambodia, including the Council for the Development of Cambodia, which attracts, facilitates and maintains all investment projects in the Kingdom of Cambodia.