Cambodian and Chinese officials signed a memorandum of understanding (MoU) between the Council for the Development of Cambodia and the Ministry of Commerce of the People’s Republic of China.
The MoU on the investment and economic cooperation was signed in a video conference on the afternoon of December 16, with the participation of the Secretary General of the Council for the Development of Cambodia (CDC), Sok Chenda Sophea and the Deputy Minister of Commerce of the People’s Republic of China, as well as the Secretary of State for the Ministry of Commerce, Sok Sopheak.
The representatives of all parties present at the signing reaffirmed their commitment to jointly promote the “Belts and Roads” Initiative in conjunction with the Cambodian Industrial Development Policy 2015-2025.
All parties will also jointly promote economic and trade relations as well bilateral strengthening of investment and economic cooperation in various fields and improving investment cooperation mechanisms of the Commission on China-Cambodia Economic and Trade Cooperation.
Secretary General Sophea highly appreciated the MoU and expressed strong optimism that it would boost bilateral investment and trade between the two countries.
He also highlighted the promulgation of the new Investment Law of the Kingdom of Cambodia on October 15, while Cambodia is in the process of launching business activities and economic recovery efforts.
The Secretary of State also highlighted the substantial cooperation financing from Chinese partners through development assistance, which has contributed significantly to the process of building physical infrastructure and is a prerequisite for Cambodia’s socio-economic development.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.