Fushun City Eyes Investment Opportunities in Cambodia

A delegation of Fushun city of China's Liaoning province, led by its party chief Mr. Lai He, has been on a visit in Cambodia to study the country's economic and commercial potentials.

The delegation was received here yesterday afternoon by H.E. Sam Sereyroth, Secretary of State for Commerce.

According to a news release of the Ministry of Commerce, H.E. Sam Sereyroth briefed his guests on Cambodia's investment potentials and opportunities, political and macro-economic stability, and its strategic location within the ASEAN region and at the centre of the Mekong region.

Cambodia, he continued, had diverse and young labour forces with 70 percent of its total population being under 35 years old. Its products are exported to ASEAN and regional markets which accounted for about 40 percent of the world population.

The commerce secretary of state further highlighted the country's openness for foreign direct investment with incentive policy like tax exemption on profits for nine years, on the import of equipment and raw materials for production, opportunity to use 100 percent of foreign capital as well as no control on prices of products and services and exchange rate.

Mr. Lai He thanked H.E. Sam Sereyroth for the information and told him about the situation and economic potential in Fushun with its leading heavy industrial sector and coal mining. He also supported and encouraged commercial cooperation between Fushun and Cambodia through organisation of trade fairs and forums to study each other's potential products and business environment.

Source: Agency Kampuchea Press