Sourced From: Confederation of Indian Industry
The Royal Government of Cambodia will invite Indian foreign direct investment (FDI) to Cambodia for economic take-off and transformation in Cambodia, said Mr. Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia at a business meeting organised jointly by the Confederation of Indian Industry (CII), The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Federation of Indian Chambers of Commerce and Industry (FICCI) , here on Saturday.
On the prospects of investment in Cambodia , the Prime Minister said that The Royal Government of Cambodia is supportive of the private sector and have created a favourable environment for the private sector to protect their investments and business activities in Cambodia. Cambodia important potential in agriculture and agro-industry, labour intensive industries, processing, tourism, mining and some sections of manufacturing and services, he said.
The Royal Government of Cambodia promotes Private Participation in Provision of Infrastructures, provides National Treatment and allows free movement of capital and foreign exchange, said Mr. Hun Sen. The foreign investor can do business with or without Cambodian partners and can decide on the level of equity, said the Prime Minister.
Dr Shakeel Ahmed, Minister of State for Communications and Information Technology, Government of India said that both India and Cambodia have young population who can contribute to the technological development and growth of the two countries. Indian IT companies have significant presence in Cambodia and can further initiate the ICT programs of the Royal Government of Cambodia, he said.
Speaking on India's achievements and plans in IT and Telecom, Dr. Ahmed said that the National E Governance Mission of India is an initiative to provide administrative services at the doorstep of every citizen. India is fast becoming the knowledge capital of the world and can cooperate with Cambodia in information and telecommunication sector, said the Minister.
Mr. P K Sandell, Chairman, Computers and Electronics Committee, ASSOCHAM , said that Cambodia offers tremendous investment opportunity along with growth prospect to Indian investors. India and Cambodia should identify and intensify the areas of trade, he said.
The Indian IT companies offer technology models that are suitable to Asian countries and can be fulfill Cambodia's requirements, said Mr. Sandell. Garments, fisheries, agriculture, food processing, tourism, education and infrastructure are the key areas of cooperation between the two countries, he added.
India – Cambodia relationship is the confluence of culture and religion, said Mr. D Datta, Chairman FICCI, India–Cambodia Joint Business Council, and Chairman and Managing Director, WAPCOS . New products and services should be identified to enhance the bi-lateral trade ties between India and Cambodia, he said. Indian companies should look forward to opportunities in water, power ansd infrastructure projects whereas Cambodian companies should open offices in India to explore new avenues, he added.
Mr. Sanjay Kirloskar, Chairman, CII- CLMV Country Committee and Chairman & Managing Director, Kirloskar Brothers Ltd. identified the areas to improve bi-lateral relations between India and Cambodia and said that barriers in services and commodity trade should be removed along with India's participation in infrastructure projects, including railways and energy projects in Cambodia.
Mr. Kirloskar said that cooperation should be enhanced in biotechnology, bioinformatics, broadcasting, communication, education, human resources and skill development. Other areas of collaboration can be generic pharmaceutical industry, traditional herbal medicines, tourism and manufacturing, he said.
On the prospects of investment in Cambodia , the Prime Minister said that The Royal Government of Cambodia is supportive of the private sector and have created a favourable environment for the private sector to protect their investments and business activities in Cambodia. Cambodia important potential in agriculture and agro-industry, labour intensive industries, processing, tourism, mining and some sections of manufacturing and services, he said.
The Royal Government of Cambodia promotes Private Participation in Provision of Infrastructures, provides National Treatment and allows free movement of capital and foreign exchange, said Mr. Hun Sen. The foreign investor can do business with or without Cambodian partners and can decide on the level of equity, said the Prime Minister.
Dr Shakeel Ahmed, Minister of State for Communications and Information Technology, Government of India said that both India and Cambodia have young population who can contribute to the technological development and growth of the two countries. Indian IT companies have significant presence in Cambodia and can further initiate the ICT programs of the Royal Government of Cambodia, he said.
Speaking on India's achievements and plans in IT and Telecom, Dr. Ahmed said that the National E Governance Mission of India is an initiative to provide administrative services at the doorstep of every citizen. India is fast becoming the knowledge capital of the world and can cooperate with Cambodia in information and telecommunication sector, said the Minister.
Mr. P K Sandell, Chairman, Computers and Electronics Committee, ASSOCHAM , said that Cambodia offers tremendous investment opportunity along with growth prospect to Indian investors. India and Cambodia should identify and intensify the areas of trade, he said.
The Indian IT companies offer technology models that are suitable to Asian countries and can be fulfill Cambodia's requirements, said Mr. Sandell. Garments, fisheries, agriculture, food processing, tourism, education and infrastructure are the key areas of cooperation between the two countries, he added.
India – Cambodia relationship is the confluence of culture and religion, said Mr. D Datta, Chairman FICCI, India–Cambodia Joint Business Council, and Chairman and Managing Director, WAPCOS . New products and services should be identified to enhance the bi-lateral trade ties between India and Cambodia, he said. Indian companies should look forward to opportunities in water, power ansd infrastructure projects whereas Cambodian companies should open offices in India to explore new avenues, he added.
Mr. Sanjay Kirloskar, Chairman, CII- CLMV Country Committee and Chairman & Managing Director, Kirloskar Brothers Ltd. identified the areas to improve bi-lateral relations between India and Cambodia and said that barriers in services and commodity trade should be removed along with India's participation in infrastructure projects, including railways and energy projects in Cambodia.
Mr. Kirloskar said that cooperation should be enhanced in biotechnology, bioinformatics, broadcasting, communication, education, human resources and skill development. Other areas of collaboration can be generic pharmaceutical industry, traditional herbal medicines, tourism and manufacturing, he said.
