CDC Seeks to Attract More U.S. Investment

The Council for the Development of Cambodia (CDC) has sought ways to attract more U.S. investors and businesses to consider investment injection in the Kingdom.

The remarks were made by H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of CDC, while receiving a courtesy call from a delegation of the American Chamber of Commerce in Cambodia (AmCham Cambodia) led by its president Mr. Davin Barta in Phnom Penh on Thursday.

In the meeting, H.E. Sun Chanthol informed his guests of the CDC’s vision on the improvement of technology by modernising the Qualified Investment Project Registration System (QIP) in order to facilitate investors to apply for investment projects online.

CDC is planning to make visits to the U.S. to promote the Kingdom’s investment opportunities in order to attract more U.S. investment, he said.

Established in 1996, AmCham Cambodia has a total of 240 members of U.S. and domestic firms with main vision to promote trade, business and investment opportunities between the two
countries -Cambodia and the U.S.

The U.S. remained the biggest market for Cambodia’s export products. The Kingdom’s shipment to the U.S., US$8,897 million, accounted for 39 percent of the total export volume of US$22,644 million in 2023.

Cambodia’s main products exported to the U.S. are apparel, clothing accessories, leather, travel goods, handbags, electrical machinery and equipment, and footwear, while importing vehicles, machinery and mechanical appliances, medical instruments and pharmaceutical products from the U.S.

Firms like Ford, Coca-Cola, Tiffany and General Electric have recently placed investment in Cambodia.

Source: Agence Kampuchea Presse