Why Chinese investors fancy Cambodia?
Source: CAEXPO Wechat Time:2018-01-08 16:05:43
Nguon Syvatha, Consul-General of Cambodia in Nanning, Guangxi Zhuang autonomous region, said at the recent ASEAN investment promotion (Cambodian agriculture) that more and more Chinese companies are investing in Cambodia with the development of the Belt and Road.
Cambodia’s unspoiled conditions are one of the most important factors in attracting Chinese investors. The country’s fertile but cheap land and suitable climate are abundant natural resources with great potential in agricultural development. At present, Cambodian pure natural green products are strongly competitive in international markets.
The Cambodian government has set up several special economic zones in which Chinese and other foreign companies can invest. Local governments have also launched a series of preferential policies for foreign investors, such as exemption from local participation and a nine-year tax holiday when setting up a new company.
Financial services are also provided to Chinese businesses. At present, a total of 17 banks in Cambodia offer exchange services, especially for the Renminbi, bringing more facilities to local Chinese companies.
Now, the Sihanouk Port in Cambodia has opened numerous routes to several Chinese ports, which have greatly contributed to economic and trade cooperation between China and Cambodia as well as the global economy.
The Consul-General also said that Cambodia has become an important destination for Chinese foreign investment, and the two countries have achieved fruitful results in infrastructure, transportation, electric power, industrial parks, agriculture, and other fields of cooperation.