APD | Chinese-owned GuangBo Group plans to invest in stationery and sport products in Cambodia

By APD writer Kin Ratha

PHNOM PENH, April 10 (APD) - Cambodia’s Commerce Minister expressed his warm welcome and support for the investment project of Chinese investors from Shanxi Province, to build a factory for producing education stationery and sports in Cambodia to supply the local market and export to the major international markets.

At the meeting with Chinese business delegation led by Mr.Wang Liping, Chairman of GuangBo Group Co., Ltd. and Secretary of the Party Committee of the 12th National People's Congress with Mr. Pan Sorasak, Minister of Commerce of Cambodia at the ministry.

Mr. Pan Sorasak highlighted the potential of Cambodia's geographical position, Industrial Development Policy of the Plus One Project at the Special Economic Zone (SEZ) and other incentives from the government to foreign investors are the key factors.

Cambodia has 19 SEZs are operating to provide investors with a 9-year operating income tax exemption, the foreign investor can hold some 100% ownership, and also can be able to export to markets in the ASEAN region, the United States and European market with trade preferential schemes, he said.

Mr. Sorasak also inform Chinese businessmen about the efforts of the Royal Government to promote business and investment environment by reducing bureaucracy, development of physical infrastructure (airports, international ports and special economic zones), human resource training, the compilation and amendment of the new laws to support the private sector and strengthen Cambodia's competitive advantages.

Mr. Wang Liping and his colleagues thanked and appreciated Mr. Pan Sakhakak, who supported the investment project and shared important information on investment opportunities in Cambodia—“We pledge to expand investment to Cambodia in order to improve the two countries' trade ties under One Belt One Road in order to create jobs and income for Cambodians.”

(ASIA PACIFIC DAILY)