Cambodia is one of the most free and open economies in Asia, re-emphasised Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, while presiding over the opening ceremony of the Global Chinese Economic & Technology Summit (GCET) at Sofitel Phnom Penh Phokeethra this morning.
In his keynote address, Samdech Thipadei Hun Manet reaffirmed that Cambodia is open to all businesses and investments, and raised some key factors that make Cambodia an attractive destination for investments such as peace and stability, strategic location in ASEAN, supporting policies, and open and flexible investment law which provides tailored incentives for businesses and investments.
“We offer 100 percent foreign ownership. There is no restriction on remittances of profits and capitals, which is different from some other countries in the region,” he said.
The Premier also laid stress on Cambodia’s free trade agreements with ASEAN, China, Korea as well as the Regional Comprehensive Economic Partnership (RCEP), which open opportunities and access to a wider market, as well as young and dynamic labour force, infrastructure connectivity and the Kingdom’s commitment to sustainable energy and digitalisation.
“The key actor in boosting the economic growth is not the government, but businesspersons and investors. The government’s role is creating an inducive environment for businesses. […] I truly believe that the success of investors is also the success of the government,” Samdech Thipadei Hun Manet underlined.
The Global Chinese Economic & Technology Summit (GCET), formerly known as the World Chinese Economic Summit, is a premier international forum dedicated to enhancing economic and business connections between China, ASEAN, and the global Chinese diaspora. The Summit also facilitates cross-cultural learning and exchange between Eastern and Western perspectives.
Since its inception in 2009, the Summit has been hosted in various cities including Kuala Lumpur, Melbourne, London, Melaka, Penang, Chongqing, Beijing, Shenzhen, Hong Kong, and Macao.
The rebranding to the Global Chinese Economic & Technology Summit reflects the growing significance of technology – especially digital and green innovations – as key drivers of future economic growth. It also addresses the need to tackle global challenges such as climate change, sustainability, and geoeconomic shifts.
GCET is committed to strengthening international cooperation and technology partnerships, while championing the 4P’s: Planet, People, Prosperity, and Partnerships.
