GASME News

"Thousands of Chinese Enterprises Entering Cambodia" Officially Launched in Phnom Penh

On April 2, 2023, the launching ceremony of "Thousands of Chinese Enterprises Entering Cambodia" jointly sponsored by the Global Belt and Road Economic Cooperation Federation Association (GEC), Global Alliance of SMEs (GASME), the Global Alliance of Business Organizations and other institutions were held at the Sofitel Hotel in Phnom Penh, the capital of Cambodia.

The aim of "Thousands of Chinese Enterprises Entering Cambodia" is to help increase the international development potential of Chinese enterprises and to promote the economic development of Cambodia.

Cambodian Deputy Prime Minister Yim Chhaily attended the event and warmly congratulated "Thousands of Chinese Enterprises Entering Cambodia" on behalf of the Royal Government of Cambodia. In his speech, Deputy Prime Minister Yim Chhaily pointed out that the Cambodian government encourages and supports the continuation of this event in Cambodia, because such an event reflects that solid diplomatic relations between the Kingdom of Cambodia and the People's Republic of China have been strengthened since 1958. With the coordination and cooperation of GEC, GASME and other institutions, this will be an important force in promoting Chinese enterprises' investments in Cambodia. It is a bridge not only for cooperation in the field of commerce and trade between the two countries, but also to connect cultural exchanges in the economic, social, cultural, tourism and other fields of the two countries. Over the past 20 years, Cambodia has achieved economic growth of over 7% annually, which is closely related to the active investments made by Chinese enterprises in Cambodia. Cambodia has many advantages: for example, all investment fields are fully open to investors; Among the approximately 15 million people in the country, about 72% are young and middle-aged laborers under the age of 35; It is located at the center of the ASEAN region which is becoming an Asian factory and in a rapidly growing and highly connected Mekong River basin, and its goods have received the most favored nation treatment on tariff from a considerable number of countries; And most importantly, there are many favorable conditions brought by the comprehensive political stability and peace of the Kingdom of Cambodia. The Cambodian government has identified four priority areas, namely the development of talent, roads, electricity, and water conservancy, in order to meet the needs of Cambodia's development in the new stage. These include the development of human resources, the improvement of the quality of science and technology education, the intensive management of agriculture, the improvement of public health services and social welfare guarantees, and the construction of the digital network, power energy, and transportation connectivity, and the management of natural resources and urbanization, in order to keep up with the fourth Industrial Revolution and ensure that Cambodia can successfully protect the environment and achieve sustainable development.

At the launching ceremony, Frank Cao, Secretary-General of GASME and Co-chairman of GEC, delivered a speech, in which he introduced that the reason for launching "Thousands of Chinese Enterprises Entering Cambodia" is based on the following considerations: first, Cambodia is one of China's most friendly countries. Second, Cambodia is a market economy country that is fully in line with international standards, with equal market access standards for all industries. Third, Cambodia is a model of a "service-oriented government" among Southeast Asian countries. Fourth, Cambodia is located at the center of the ten ASEAN countries with excellent geographical advantages. As an important node of the Belt and Road, Cambodia is an ideal bridgehead for foreign enterprises to expand the ASEAN market. The completion of the Trans-Asian Railway will make Cambodia even more powerful. Fifth, the labor cost advantage is huge. Cambodia's demographic dividend has not yet manifested, and more than half of the population in the country is under the age of 35. Sixth, compared with Southeast Asian countries such as Singapore, Thailand and Vietnam, Cambodia's real estate is still at a low-price stage and has enormous development potential. Seventh, the value of entrepreneurs is highly respected in Cambodia and they have a high social status. Eighth, there are many cultural similarities between the two countries. Both China and Cambodia believe in Buddhism, with rice as their main food and their peoples have similar ways of thinking. All these have greatly brought China and Cambodia closer together. From the above, it can be seen that Cambodia's business environment is outstanding in ASEAN countries and even the world, making Cambodia one of the most popular investment destinations in the world. GASME will join hands with GEC and integrate high-quality global resources, deeply drive investment and trade facilitation to jointly promote the economic development of Cambodia and other countries along the Belt and Road as well as the realization of the UN 2030 sustainable development goals.

Cambodian Deputy Prime Minister Yim Chhaily, Dith Tina, Minister of Agriculture of Cambodia, Chea Se, Secretary of State of the Ministry of Tourism of Cambodia, GASME Secretary-General Frank Cao, Shen Baian, GEC Vice Chairman and Chairman of the Cambodian Association, Xu Feng, GEC Full-time Vice Chairman and Secretary General, Sun Peng, Executive Chairman of GEC Cambodian Association, Chen Yuanfen, Vice Executive Chairman of Boao Confucian and Entrepreneurship Forum Council, and other guests went on the stage to launch "Thousands of Chinese Enterprises Entering Cambodia". More than 380 heads of business associations and entrepreneurs from all over Asia witnessed this sacred historical moment.

During this visit to Cambodia, Secretary-General Frank Cao led the first delegation of "Thousands of Chinese Enterprises Entering Cambodia" to attend the first "Belt and Road" Economic Cooperation (Phnom Penh) Forum, visited the Ministry of Tourism of Cambodia and the Ministry of Land Planning and Construction of Cambodia, inspected Cambodia's Sihanoukville Special Economic Zone and residential construction in Phnom Penh and Sihanoukville, and conducted face-to-face in-depth discussions with the Cambodian side on issues related to Chinese enterprises' investments in Cambodia.

On the afternoon of April 2, the first "Belt and Road" Economic Cooperation (Phnom Penh) Forum was held and international interviews, industry interviews and investment interviews were conducted at the forum. During the investment interviews, five Chinese entrepreneurs including Chen Yuanfen, Vice Executive Chairman of Boao Confucian and Entrepreneurship Forum Council and Chairman of Yunnan Zangyi Cultural Communication Co. Ltd., Chen Jiang, Vice Chairman of the Belt and Road International Cooperation Committee of GASME and Chairman of Qiangniu International Holdings Co. Ltd., Xu Jinhua, Vice Chairman of the Belt and Road International Cooperation Committee of GASME and Chairman of Xian Zhuziyue Cultural Development Co. Ltd., Chen Jun, General Manager of Ningbo Zhimaohui E-commerce Co. Ltd., and Zheng Jiashui, Consultant of Anhui Jingyimen Technology Development Co. Ltd., went on the stage for interviews.

On the evening of April 4, Secretary-General Frank Cao, Shen Baian, GEC Vice Chairman and Chairman of the Cambodian Association, Xu Feng, GEC Full-time Vice Chairman and Secretary General of GEC Cambodian Association, and other officials in charge of the association also had dinner with Cambodian Deputy Prime Minister Men Sam An, who spoke highly of "Thousands of Chinese Enterprises Entering Cambodia" and encouraged more Chinese entrepreneurs to invest in Cambodia.

This event is jointly organized by Boao Confucian and Entrepreneurship Forum Council, Anhui Alumni Association of Tsinghua University, Yunnan Confucian and Entrepreneurship Culture Research Institute and other organizations.