The talks between Chinese economic and commercial counselors to ASEAN countries and private entrepreneurs were held in Nanning on September 20. Wu Guoquan, economic and commercial counselor of the Embassy of China in Cambodia, introduced Chinese-funded enterprises’ investment in Cambodia to the private enterprises and encouraged them to invest in Cambodia.
According to the statistics of the Ministry of Commerce by 2018, the investment of Chinese-funded enterprises in Cambodia surpassed RMB 8.2 billion. Coupled with the amount of offshore renminbi investment, investment amount reached RMB 17 billion. Wu Guoquan said that Cambodia has stable political climate and a vibrant economy. China and Cambodia have good relations. At the same time, the Cambodian economy has taken off and is picking up speed. The sound economic and trade cooperation between China and Cambodia brings more opportunities for Chinese enterprises to invest in Cambodia. Cambodia’s tourism sector is thriving. China is the largest source of tourists to Cambodia, with 1.3 million Chinese tourists visiting Cambodia in the first half of this year, accounting for 40% of foreign tourists to Cambodia in the first half of the year. In recent years, the hottest investment sector in Cambodia is real estate. The price of some properties in Siem Reap, Phnom Penh and Sihanoukville Port exceeds US$10,000 per square meter, and the land price in big cities is US$2800-3000 per square meter on average. Moreover, Chinese companies have invested in seven projects in the energy sector in Cambodia, with an investment in excess of RMB 3 billion. The installed capacity of 10 hydro stations and one nuclear power plant accounts for 93% of the total installed capacity in Cambodia. Innovative technology, export-oriented industries, tourism, and deep processing of agricultural products have become the pillar industries in Cambodia. Cambodia is becoming the fertile ground for Chinese private enterprises “going global”.
Zhou Haijiang, Chairman and CEO of Hodo Group, which invests in Cambodia, was invited to share the experience in building Sihanoukville Autonomous Port. He said, “A decade ago, Cambodian Prime Minister Samdech Hun Sen proposed to building Sihanoukville Port Special Economic Zone into the ‘Shenzhen’ of Cambodia. Nowadays, seismic changes have occurred in Sihanoukville Port Special Economic Zone. To date, the Special Economic Zone creates nearly 30,000 jobs. More than 160 enterprises from many countries and regions have settled in the zone, and the local people now enjoy vastly improved living standards. Private enterprises present here are invited to invest in Cambodia.” (Liao Zongyu, Ouyang Yutian)