April 26, 2011

U.S. Welcomes Investment Relations With Cambodia

A U.S. Embassy’s officer in Phnom Penh welcomed the progress of investment relations between Cambodia and the U.S.

Mr. Mark L. Wening, Public Affair Officer at the U.S. Embassy in Phnom Penh said the U.S. is encouraged by the economic growth that Cambodia has achieved in the last several years and the appreciative support that the Royal Government of Cambodia has provided to foreign investment.

He said there are a number of American firms successfully operating in Cambodia already and many more who are considering this market because of the attractive investment climate, relatively low cost of labor, and Cambodia’s strategic location in the heart of ASEAN.

We are hopeful that, as the rule of law is further strengthened in Cambodia, more foreign investment will flow into the country to support economic growth, he said.

During the first quarter of the year, American investment in Cambodia is number one among the foreign investors with approximately US$94 million.

In January, there were two American investment companies. The first one was Tower Master Company limited with its 90 percent share, other 10 percent from domestic investor and Malaysia investor with total investment capital US$101,674,000, and another company in manufacturing US$3.6 million.

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