AFIEC aims to harness resources for Svay Rieng
THE newly established Association of Foreign Investment Enterprises in Cambodia (AFIEC) will play an important role in mobilising members and resources, as well as providing consultation to support investment activities, not only aiding the growth of its members but also yielding benefits for Svay Rieng and its people, according to a highlevel official in the province.
Provincial governor Peng Posa made the remarks in the presence of senior officials from the Council for the Development of Cambodia (CDC) and numerous foreign investors from special economic zones (SEZs) in Svay Rieng province, which shares its border with Vietnam, during a December 16 event celebrating the inauguration of the association.
“On behalf of the provincial
council, the provincial board of governors would like to express our full welcome and support for the initiative that has led to the formation of the association in Svay Rieng.
“The association is a vital mechanism for mobilising resources, providing consultation
and supporting investment activities and businesses. It plays a crucial role in fostering development and delivering benefits to the people of Svay Rieng province as a whole,” Posa said via the provincial administration’s social media post on December 17.
He said the provincial authorities are ambitious and always welcoming of investments in the province, adding that they are prepared to facilitate, support and cooperate to provide warmth, trust, security and safety, and to create favourable conditions for all companies and investors.
According to the governor, the province currently has nine operational SEZs with over 150 factories (including 276 companies, enterprises and other establishments), employing nearly 90,000 people. This generates a direct income for workers totalling about $284 million per year, significantly contributing to economic growth, improving livelihoods and alleviating local poverty.
Hong Vanak, an economics researcher at the Royal Academy of Cambodia (RAC), acknowledged on December 17 the importance of foreign investors forming an association.
He noted that it contributes to strengthening country-tocountry and people-to-people relationships, in addition to past fruitful cooperation between the Cambodian and Chinese governments.
He added that the group has facilitated cooperation and investment in target provinces like Svay Rieng, leading to growth and advantages for the people and the economy.
“The association is set to bolster the connections within Svay Rieng province. Ideally, the association will utilise Svay Rieng as a developmental model. With active involvement from members, it is poised to not only advance the target provinces but also establish a replicable [framework]. The effort will significantly enhance the local culture, benefit the people and boost investment. I have firm belief in this vision,” he said.