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Hun Sen asks PRC garment investors not to leave Cambodia

27
Feb '20
Pic: Shutterstock
Pic: Shutterstock
Prime Minister Hun Sen recently again told Chinese garment sector investors not to relocate their businesses from Cambodia even after the Everything but Arms (EBA) deal with the European Union is partially withdrawn. He said he has also called on Beijing to raise investments in the country, particularly in science and technology, to boost the economy.

Chinese investment plays an important role in the country’s garment industry, representing almost 70 per cent of it, he said.

A free trade agreement (FTA) between Cambodia and China will be signed in November this year, a Cambodian newspaper report quoted the prime minister as saying.

Last October, the prime minister had met a delegation of business representatives from various Chinese provinces that have potential for Cambodia and were seeking business opportunities there. During the meeting, he had urged Chinese firms to continue business as usual regardless of the outcome of the EBA review.

The EBA is not a major concern now. The main concern is some factories in Cambodia will temporarily suspend operations because of the disruption in supply chain resulting from the coronovirus outbreak in China, he added.

Fibre2Fashion News Desk (DS)


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