H.E. Dr. OH Myung, former deputy prime minister of the Republic of Korea, has spoken highly of peace, political stability and no major natural disasters such as earthquake, volcanic eruption, etc. in Cambodia.
H.E. Dr. OH Myung lauded the favourable conditions for investment in Cambodia while leading a Korean industrial delegation to pay a courtesy call on Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen, at the Peace Palace in Phnom Penh this morning, according to H.E. Eang Sophalleth, Assistant to the Premier.
The former Korean DPM added that Cambodia-Korea Free Trade Agreement (CKFTA) is another impetus for Korean investment in Cambodia.
But, he underlined, the problem is that Korean investors have not yet known clearly about the investment situation in Cambodia.
For his part, Samdech Techo Hun Sen thanked H.E. Dr. OH Myung for the evaluation of Cambodia’s situation, asking the Korean side to encourage more investors to the Kingdom.
CKFTA, comprehensive partnership in the ASEM framework, authorisation of full foreign ownership of companies, use of U.S. dollar, raw materials like cashew, rice, rubber, cassava, and young labour force are among the favourable conditions for investment in addition to peace, political stability and no major natural disasters as mentioned by H.E. Dr. OH Myung.
Samdech Techo Hun Sen also suggested the Korean side to boost investment in processing and high-tech industries in Cambodia.
Source: Agency Kampuchea Press