A Cambodian transportation firm headquartered in Phnom Penh, CID Logistic Cois collaborating with Shanghai-based Shanghai Shunkai International Freight & Forwarding Co to establish a textile and dyeing factory in Cambodia.
In a delegation hosted by both the companies in Phnom Penh, LorTithChansopheak, Advisor to the Council for the Development of Cambodia (CDC), emphasisedon the Royal Government of Cambodia's (RGC) efforts to attract both international and domestic investors by offering favorable and incentivised investment regimes, particularly in priority sectors outlined in the 'Law on Investment of the Kingdom of Cambodia.'
The delegation’s said, its primary mission is to explore investment opportunitiesin Cambodia, specifically to establish textile and fabric dyeing factories in the country. This would help boost to national economic growth significantly besides attracting further foreign investments into the garment sector.
The delegation also indicated its intention to expand their investments in Cambodia, thereby strengthening bilateral relations between Cambodia and China. LorVichet, Vice President, Cambodia Chinese Chamber of Commerce (CCCA), citied tax policies, labor productivity and electricity costs as three major concerns that are crucial for foreign investors to enhance trade and export competitiveness regionally and globally.
