Phnom Penh (FN), Feb. 15 – Chinese ambassador to Cambodia Wang Wentian said that although the EU announced the partial removal of 20 percent of Everything But Arms (EBA) from Cambodia, it does not stop Chinese investors from doing business in Cambodia.

Chinese ambassador spoke in the press conference held at the embassy on Wednesday (Feb 15).

"The trade and investment cooperation between China and Cambodia are still great. Following a partial withdrawal of EBA from Cambodia, some Chinese enterprises have faced some challenges. However, more enterprises are coming to invest in Cambodia. Plus, the investment from China to Cambodia has increased annually," Ambassador Wang underscored.

According to the Cambodian secretary of state of the Ministry of Economy Vongsey Visoth, although Cambodia does not have EBA and GSP, its exports are still increasing. Without these preferences, Cambodia would not die, speaking in a public forum on macroeconomic management and budget law 2023, held on 25 January 2023.

Most of the kingdom's Foreign Direct Investment (FDI) inflow comes from Asia, especially China, which accounts for nearly 50 percent of total FDI.

Chinese invests mainly on manufacturing, finance, construction, real estate, and housing. Followed by Singapore (8.3%), South Korea (8.1%), Japan (5.9%), Thailand (4.4%), and Malaysia (3.8%).