S'pore investors wanted

Monday, July 26, 2010

Jul 26, 2010
By Janice Heng
Straits Times (Singapore)

PM Hun Sen promises conducive business environment

VISITING Cambodian Prime Minister Hun Sen and Prime Minister Lee Hsien Loong reaffirmed on Monday their countries' close ties and agreed that both sides could explore new areas of cooperation, including tourism.

They also exchanged views on developments in the region and reaffirmed the two countries' close cooperation in Asean and other international and regional fora.

Mr Hun Sen is in Singapore on a three-day official visit, his first since 2000. He and his wife called on President S R Nathan and Mrs Nathan at the Istana.

Addressing Singapore businessmen at a luncheon yesterday hosted by Trade and Industry Minister Lim Hng Kiang, Mr Hun Sen said Cambodia was eager to welcome investors from the Republic. 'I am personally committed to assure you of a conducive and friendly business environment,' he said.

He highlighted his government's efforts to encourage foreign investment. For instance, the banking sector has been strengthened, with the Cambodia Stock Exchange due to begin operation in the middle of next year.

In his speech, Mr Lim said economic relations between the two countries 'are warm and growing stronger all the time'. Singapore's investments in Cambodia last year were US$278 million (S$380 million), an eight-fold increase from the year before. Singapore is Cambodia's eighth-largest foreign investor, with cumulative investment of US$604 million between 1994 and last year.


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