AFD Invests US$1 Billion in Cambodia in Past 30 Years

The Agence Française de Développement (AFD) marks this year the 30th anniversary of its presence in Cambodia and in the past 30 years, it has invested some US$1 billion in the Kingdom’s priority sectors such as culture, renovation of ancient temples, clean water, agriculture, energy and so on.

The information was shared by visiting AFD’s CEO, Mr. Rémi RIOUX while paying a courtesy call on Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, here at the Peace Palace this afternoon, according to H.E. Eang Sophalleth, Assistant to the Cambodian Premier.

Mr. RIOUX also informed Samdech Techo Hun Sen of the opening of AFD’s technical branch in Cambodia and its plan to increase assistance to the Kingdom along with its support on electrical network for renewable energies.

Besides, he sought the Prime Minister’s recommendations for the AFD’s work orientation in Cambodia.

In reply, Samdech Techo Hun Sen asked AFD to continue focusing on priority areas it is working on in Cambodia, including human resource development, clean water, and infrastructure (road and electricity).

He briefed the AFD delegation on Cambodian agricultural policy aiming to promote rice processing for export while facing the lack of rice milling and storage facilities, as well as to boost the processing industry and technology industry.

The Premier also laid stress on Cambodia’s Law on investment which is very favourable, i.e. foreign investors can invest 100 percent in Cambodia without local partnership, and foreign currencies can be used for staff’s salaries, and encouraged more investment in agriculture and industries.

Source: Agency Kampuchea Press