Economy

Yunnan businesses seek investment in Cambodia

(Xinhua)
Updated: 2010-12-25 10:01

PHNOM PENH, Cambodia -?The Association for Economic Cooperation and Trade Promotion between China's?Yunnan province?and Southeast and South Asia (ECTPA) on Friday signed an investor facilitation cooperation agreement with Chinese Chamber of Commerce in Cambodia, aimed to seek business opportunities in the country.

The agreement was signed by Jammy Gao, president of Chinese Chamber of Commerce in Cambodia and Wang Guoliang, vice-chairman of the ECTPA.

Under the agreement, when there is an investment delegation from Yunnan province to seek investment opportunity in Cambodia or vice-versa, each party has obligation to assist and arrange meetings with local businesspeople or government officials in order to facilitate them in their investment seeking purpose.

Niu Shaoyao, chairman of the association, said that the delegation consisted of investors from 13 investment companies in Yunnan, which specialize in construction, mining, post express logistics, steel factory, real estate development, technology, and agriculture.

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"It is an opportunity for investors from Yunnan province to do business in Cambodia,"?said Jin Yuan, an?economic and commercial counselor of the Chinese embassy in Cambodia.

"Moreover, the relation between Cambodia and China has reached the comprehensive strategic partnership of cooperation, which builds more confidence for Chinese investors in Cambodia," Jin added.?

The delegation arrived in Cambodia on Thursday after visiting Laos and Thailand for investment opportunity seeking.