Cambodia, The U.S. To Continue Promoting Economic And Investment Cooperation

date_range 24-Jun-2024
visibility 12

Phnom Penh, June 24, 2024 --

Cambodia and the U.S. will continue to promote their bilateral economic and investment cooperation by working together to improve investment environment to attract more American investors.

The commitment was made during the meeting here this morning between Deputy Prime Minister H.E. Sun Chanthol, First Vice President of the Council for the Development of Cambodia (CDC), and H.E. Andrew Herrup, Chargé d’affaires at the U.S. Embassy in Cambodia.

In the courtesy meeting, H.E. Andrew Herrup mentioned the possibility of both countries to work together to address some of the concerns to create a more attractive environment for more investors from the U.S.

Besides, he expressed positive interest on the Cambodian DPM's visit to the European Union in order to attract more investment.

For his part, H.E. Sun Chanthol was pleased with this positive impression and briefed his guest on the fruitful results of his “Knock on the Door” mission to the EU on June 9-18, 2024.

The CDC first vice president stressed the possible collaboration between the CDC and the U.S. Embassy to explore the possibility of facilitating investment promotion events in the U.S. through the organisation of business forums and knocking on the door of companies that aim to expand regional production and supply chains.

In addition to efforts to mainstream awareness of investment-related laws and regulations, H.E. Sun Chanthol suggested the establishment of a joint mechanism for regular dialogue on investment affair to enable Cambodia to resolve the concerns of American investors more quickly.

The U.S. remained Cambodia’s biggest market, accounting for 39 percent of the Kingdom’s total exports worth US$22.64 billion in 2023.

The country mainly imports clothing, footwear, travel goods, and agricultural products from Cambodia.