Phnom Penh, 5 April 2023 (TDI): Cambodia has drawn more investments from Indonesia. It has urged them to take advantage of fresh investment opportunities as a result of the development of investment attraction policies stated in the investment law.
Minister Delegate to Prime Minister, Sok Chenda Sophea, along with the Secretary General of the Council for Development of Cambodia (CDC) made remarks at the meeting.
A delegation from the Indonesian Chamber of Commerce and Industry (ICCI) led by M. Arsjad Rasjid P.M., Chairman of ICCI and Chairman of the ASEAN Business Advisory Council 2023 also joined the discussion.
Through the ASEAN-led mechanism, Sok Chenda Sophea urged Indonesian investors to invest in Cambodia to take advantage of new investment opportunities under the development of investment attraction policies stated in the investment law of Cambodia.
According to a statement released by CDC, the government’s highest decision-making body for large-scale investments, the meeting with the KADIN delegation was held to discuss work related to Indonesia’s 2023 chairmanship of the ASEAN-BAC.
Chenda Sophea emphasized that adhering to a spirit of unity could help with the response and prevention of a variety of challenges as well as the realization of many shared achievements.
The ASEAN framework has been a major driving force for discussion and collaboration among countries and other partners.
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As of March 2023, the Council for the Development of Cambodia had received 22 investment proposals from Indonesia totaling about US$69 million, with an emphasis on business, agriculture, and services.
According to him, this cooperation could help the ASEAN Economic Community (AEC) achieve its goals of creating a single market and a significant manufacturing hub for the world’s supply chain.
The agenda of discussion includes the Southeast Asian bloc’s top private sector body, as well as improving bilateral cooperation between the two countries.
The ICCI Chairman stated his readiness to encourage Indonesian investors to make direct investments, joint ventures with local businesses, or public-private partnerships in Cambodia’s key sectors.