ID :
121377
Tue, 05/11/2010 - 12:02
Auther :
Shortlink :
https://oananews.org//node/121377
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CAMBODIA WELCOMES MALAYSIAN INVESTORS
From Jamaluddin Muhammad
PHNOM PENH, May 11 (Bernama) -- Cambodian Prime Minister Hun Sen Monday welcomed Malaysian investors to venture into areas which are yet to be fully capitalised in this country.
He said the areas included agriculture, agro-industry, infrastructure,
labour-intensive and export-oriented industries, oil and gas, mining and
tourism.
"Cambodia has opened its economy to all investors and treats both local and
foreign investors equally," he said during a Cambodia-Malaysia Business Forum at
a hotel here.
The country, Hun Sen said, has opened its economy in all sectors, including
banking, insurance and telecommunications in which 100 per cent foreign-owned
equity was allowed in such sectors.
"This openness has provided several Malaysian companies to pioneer
investments in banking and telecommunication sectors ahead of investors from
other countries," he said.
Tycoon Dr Chen Lip Keong who set up Naga World Hotel, Axiata in
telecommunications, Cambodia Utilities in power generation and Cambrew for
Angkor Beer were some of the Malaysian investors' success stories in investing
in this country, he added.
Hun Sen also announced at the forum that the National Bank of Cambodia
issued a letter of approval in principle for the establishment and operation of
the CIMB (Cambodia) Plc Bank, a subsidiary of CIMB Bank of Malaysia, on May 6.
The premier warmly welcomed this new investment and wished CIMB (Cambodia)
many successes in its operation in the future.
He thanked the Malaysian government and its people for their continued
support through training of Cambodian officials and sponsorship of the Smart
School Project for two high schools in Phnom Penh.
Hun Sen also thanked Malaysia for accepting Cambodian labour force totalling
25,449 workers in the country currently.
-- BERNAMA
PHNOM PENH, May 11 (Bernama) -- Cambodian Prime Minister Hun Sen Monday welcomed Malaysian investors to venture into areas which are yet to be fully capitalised in this country.
He said the areas included agriculture, agro-industry, infrastructure,
labour-intensive and export-oriented industries, oil and gas, mining and
tourism.
"Cambodia has opened its economy to all investors and treats both local and
foreign investors equally," he said during a Cambodia-Malaysia Business Forum at
a hotel here.
The country, Hun Sen said, has opened its economy in all sectors, including
banking, insurance and telecommunications in which 100 per cent foreign-owned
equity was allowed in such sectors.
"This openness has provided several Malaysian companies to pioneer
investments in banking and telecommunication sectors ahead of investors from
other countries," he said.
Tycoon Dr Chen Lip Keong who set up Naga World Hotel, Axiata in
telecommunications, Cambodia Utilities in power generation and Cambrew for
Angkor Beer were some of the Malaysian investors' success stories in investing
in this country, he added.
Hun Sen also announced at the forum that the National Bank of Cambodia
issued a letter of approval in principle for the establishment and operation of
the CIMB (Cambodia) Plc Bank, a subsidiary of CIMB Bank of Malaysia, on May 6.
The premier warmly welcomed this new investment and wished CIMB (Cambodia)
many successes in its operation in the future.
He thanked the Malaysian government and its people for their continued
support through training of Cambodian officials and sponsorship of the Smart
School Project for two high schools in Phnom Penh.
Hun Sen also thanked Malaysia for accepting Cambodian labour force totalling
25,449 workers in the country currently.
-- BERNAMA
