Chinese consortium explores opportunities in Sihanoukville

A delegation of Chinese companies on Tuesday announced its readiness to invest in internet-based services for Cambodia’s tourism sector, particularly in Sihanoukville.

Their intention to invest in the Kingdom was stated during a meeting between Wu Yunfu, chairman of China-based Internet Investment Holding Group Co., Ltd., and Yun Min, governor of Preah Sihanouk province.

Consortium, Sihanouk Ville
Consortium, Sihanouk Ville

Mr Wu told the Cambodian governor that the members of the Chinese delegation were looking forward to investing in Sihanoukville, adding that one of the main factors driving their interest in the Kingdom is the excellent relation between the Chinese and Cambodian governments.

“Sihanoukville is beautiful and interesting. It is well-developed and has special economic zones which makes it more attractive for investors. Many Chinese companies are interested in the province,” Mr Wu told Mr Min.

“I will urge our Beijing-based investment partners to put money in the province, and I will return again with investment plans for internet-based services for the province’s tourism industry,” he added.

Governor Yun Min welcomed Mr Wu’s enthusiasm for investing in the province, and told the consortium that Cambodian and China are strengthening ties thanks to Chinese President Xi Jinping’s Belt and Road initiative.

“The key factors that make foreign investors continue to seek business opportunities in this province are peace, stability, safety and strong economic potential,” Mr Min said, adding that other reasons to consider putting their money in the Kingdom include abundant natural resources and an improving transportation system that now includes a railway system connecting the country’s south with the capital.

“Over the last two years, Preah Sihanouk province has become an important destination for investors from various countries, particularly China,” he told the delegation, explaining that the sectors with the most potential in the province were textiles, tourism, construction and real estate.

He added that Sihanoukville has been chosen by the government to become a hub for multi-purpose special economic zones.

Source: KhmerTimeskh