Tokyo, Japan (FN), Oct. 9 - Cambodian Prime Minister Hun Sen told Japanese investors that Cambodia welcomed all Japanese investments and provided every investor with favorable investment, particularly peace, political and macroeconomics stability, speaking at the Japan-Mekong Business Forum on "Asia's New Value Chain Hub", held in Tokyo on Tuesday.
"On behalf of the Royal Government of Cambodia, I welcome all the wise decisions of all investors, who have chosen Cambodia and those are keen to select Cambodia as an investment target," said the premier.
Prime Minister Hun Sen appealed to Japanese investors who had not come to Cambodia to learn about the potential and investment opportunities in Cambodia and decided to invest for the best interests from Cambodia’s achievements supported by the Japanese government.
According to the Strongman of Cambodia, investors should invest in Cambodia for six reasons, such as:
First, the absolute peace and political stability of Cambodia which led to the average economic growth of 7% per annum over the past two decades. Last week, the International Monetary Fund (IMF) predicted that Cambodia's economy will grow at a rate of 7.25% in 2018. Through impressive economic growth and reforms, Cambodia has taken a bold step towards sustainable development goals.
Second, Cambodia is strategically located in the ASEAN region, which has become "Factory of Asia”; Cambodia is also at the center of the Mekong Region - a region of great economic growth and connectivity. The shift of economic growth to Asia, in particular East Asia, continues to be a "golden opportunity" for Cambodia to develop and modernize her manufacturing and service industries with other countries in the region.
Third, Cambodia is enriched with young and potential labor force, in which 35-year-old group account for 72% of the total population. The increase of the middle-class population that will create opportunities for Cambodia to achieve high growth for the next three decades.
Fourth, Cambodia has opened up its economy for all investors without discrimination. Cambodia provides 100% investment on sectors, including banking, insurance and telecommunications. Cambodia still has tremendous potential for the development the financial sector, including increasing the depth of financial intermediation, improving the insurance industry, and developing the securities market.
Fifth, manufactured goods in Cambodia are not only supplied for Cambodia market with just over 15 million people but can supply to the Mekong Sub-region with about 250 million customers and to ASEAN market with approximately 630 customers, most importantly to Regional Comprehensive Economic Partnership Agreement (RCEP) with a population of approximately 3 billion.
Sixth, Cambodia has been integrating and connecting with the major economies in the country and in the region, which will create a vibrant logistics system and enhance regional competitiveness as a driving force for Cambodia to move forward and play important role in joining and complementing each other in the spirit of win-win with other countries in the Mekong region to make the region a new gathering area of the value chain of dynamic Asia. More than ever before, since the entry into the ASEAN Economic Community in December 2015, Mekong countries have made their integration more intimate and are turning the region into "Factory of Asia”.
=FRESH NEWS
