Germany Eyes Stronger Economic Ties, Commits to Promoting More Investment in Cambodia

(Phnom Penh): Deputy Prime Minister Sun Chanthol, First Vice Chairman of the Council for the Development of Cambodia (CDC), on Wednesday (Jun. 3) welcomed a delegation from the German Bundestag, led by Thomas Rachel, Member of the Committee on Economic Cooperation and Development, alongside Stefan Messerer, German Ambassador to Cambodia. This visit took place during the delegation's official trip to Cambodia from 1-3 June. During the constructive discussions, Sun Chanthol expressed his gratitude for the enduring friendship and strong cooperation between Cambodia and Germany, emphasising collaboration at both the governmental and interpersonal levels. He also acknowledged the continued support from the German government and its citizens in fostering Cambodia's socio-economic development. In response, the German delegation expressed appreciation for the opportunity to exchange perspectives and deepen their understanding of Cambodia's open investment policies. They commended Cambodia's substantial progress across various sectors and valued the candid discussions on several strategic matters. Key topics addressed included the upcoming commune and national elections, Cambodia's adaptation to global changes, the promotion of women's leadership in the public sector, and the Royal Government's strategies to attract foreign direct investment (FDI). Sun Chanthol talked about why Cambodia is a good place to invest. He mentioned the country's stable government, strong economy, efforts to train its people, and changes to make it easier to do business. He further articulated the advantages of Cambodia's investment law, which provides substantial incentives, robust investor protections, and effective channels for addressing private sector concerns, facilitated by platforms such as the Government-Private Sector Forum (G-PSF), the Public-Private Sector Dialogue (PPSD), and the Public-Private Sector Breakfast Briefings. He also highlighted Cambodia's strategic infrastructure development projects, notably the expansion of the Sihanoukville Deep-Sea Port and the Funan Techo Canal project, both of which are expected to significantly reduce logistics costs and enhance the nation's competitiveness in the region. In conclusion, both parties reaffirmed their commitment to strengthening bilateral relations. Both sides expressed their dedication to collaborating closely to encourage a greater influx of German investment into Cambodia, which is expected to yield mutual benefits for both countries and their citizens.=FRESH NEWS