Kampong Speu seeks Chinese investment boost in agriculture

THE National People’s Congress of China (NPC) has encouraged Chinese investors to explore five investment opportunities in Kampong Speu province, including tourism, agriculture, agro-industry, aquaculture and general industry, according to Kampong Speu governor Vei Samnang.

Samnang made the remarks after a recent meeting with Lou Quinjian, chairman of the Chinese parliament’s Foriegn Affairs Committee, as reported by the provincial administration.

Samnang emphasised that the province is ripe for investment in the five highlighted sectors and is actively welcoming investors.

He noted that Kampong Speu is home to almost 400 factories which employ over 160,000 workers.

“Among the 394 factories, which include garment, footwear, consumer goods and travel products, 90 per cent have Chinese investment. This is also true in industries like agriculture and agro-industry,” he stated.

Samnang anticipates a continued influx of Chinese investment in 2024, particularly to his province.

Lou highlighted Beijing’s sizable investor population of about 20 million during the discussion. Recognising

Kampong Speu’s potential, he encouraged Chinese investors to identify priority areas for investment.

He also urged the provincial administration to ensure adequate manpower and resources to facilitate the process and pledged to attract as many Chinese investment companies as possible to the province.

Ky Sereyvath, director of the Royal Academy of Cambodia’s Institute of China Studies, noted that seizing opportunities and welcoming foreign investors is highly beneficial for economic development.

“These development projects are beneficial for Kampong Speu, and it is hoped that they will materialise to bolster the province’s economy. It is crucial that all projects under consideration also factor in environmental implications,” he stated.

He said that Chinese investment has been instrumental in the country’s development, notably in the garment sector, significantly improving the lives of people in many provinces.

Sereyvath added that the continuing arrival of Chinese investors in various sectors presents an opportunity for each Cambodian province to leverage its unique potential.