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Cambodia and Germany Join Forces to Boost Bilateral Investment

Phnom Penh: In a strategic move to enhance bilateral relations and cooperation, Cambodia and Germany have pledged to work together to attract investment from both nations. This commitment was expressed during a meeting between Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), Mr. Sun Chanthol, and the visiting German delegation. The delegation included Mr. Johannes Steiniger, Member of the German Bundestag, Dr. Stefan Heck, Chairman of the Christian Democratic Union (CDU) Marburg-Biedenkopf, and representatives from Konrad-Adenauer-Stiftung (KAS) Cambodia, at the CDC headquarters in Phnom Penh on February 14.

During the discussions, Mr.Sun Chanthol highlighted Cambodia's achievements in development, underscored by a period of full peace, political stability, macroeconomic steadiness, improved life expectancy, and a reduction in poverty rates through enhanced access to education, clean water, electricity, health services, social infrastructure, and overall better living conditions.

Emphasizing the Royal Government of Cambodia's (RGC) vision to transform the nation into a high-income economy by 2050, the First Vice President of CDC underscored the crucial role of CDC in drawing more investors to Cambodia. This effort is supported by an investment law that provides a welcoming environment for all investors and the collaboration with 15 working groups of the Government-Private Sector Forum (G-PSF) to address investors' issues and concerns.

Furthermore, Mr. Sun Chanthol pointed out that to bolster investment affairs, the RGC has significantly invested in physical infrastructure and launched the Comprehensive Intermodal Transport and Logistics Master Plan (CIT-MP) 2023-2033, aimed at reducing transport and logistics costs.

The German representatives lauded Cambodia's progress across various sectors and stated that the visit aims to further cement the bilateral cooperation between the two countries.

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