Cambodia, China Signs Investment and Economic Cooperation Agreement

Cambodia, China Signs Investment and Economic Cooperation Agreement

Cambodia and China have established a working group on investment and economic cooperation, tasked mainly to promote bilateral economic and trade relations, strengthen investment and economic cooperation.

The memorandum of understanding (MoU) on the working group establishment was signed here on Dec. 16 by Mr. Sok Chenda Sophea, Minister Attached to the Prime Minister, Secretary General of the Council for the Development of Cambodia (CDC), Mr. Sok Sopheak, Secretary of State at the Cambodian Ministry of Commerce, and Mr. Ren Hongbin, Vice Minister of Commerce of the People’s Republic of China.

Mr. Sok Chenda Sophea was optimistic that the MoU will boost bilateral investment and trade between the two countries in line with the agreement made by the two Heads of Government on Nov. 15, 2021.

He also briefed the Chinese side on the country’s promulgation of new Investment Law, resumption of business activities and post-COVID-19 economic recovery efforts, reflected by high vaccination rate and investors’ and tourists’ trust.

He also emphasized the achievement of investment cooperation between the two countries through a large amount of Chinese investment, making China at the top of the list of foreign investors in Cambodia, which will help promote and accelerate the Kingdom’s ability for socio-economic recovery after the COVID-19 crisis. AKP