Logo of Phnom Penh Post newspaper Phnom Penh Post - Kampong Speu governor courts investors in Hong Kong

Kampong Speu governor courts investors in Hong Kong

Content image - Phnom Penh Post
Kampong Speu provincial governor Vei Samnang speaks about his province’s achievements in an annual meeting in early March. VEI SAMNANG VIA FB

Kampong Speu governor courts investors in Hong Kong

Kampong Speu provincial governor Vei Samnang has pledged to attract more investment to his province. Samnang announced that he would lead a provincial delegation to Hong Kong later this month to discuss business opportunities in the Kampong Speu.

He believed that the visit would attract foreign investors to open factories in the province, creating jobs and boosting the local economy.

“We have already received the approval of the prime minister to make the trip. We want to impress the peace we enjoy in Cambodia as a sound reason to invest,” he said.

“They dare not invest in countries that are experiencing political instability, even if labour costs are low. Our wages may be slightly higher, but this is offset by how stable the Kingdom is,” he added.

He said provincial authorities at all levels had always made it easy for domestic and international investors to take advantage of the benefits of doing business in Kampong Speu.

“Our close proximity to the Preah Sihanouk port makes the province an excellent location to build new factories. I expect that our trip will reap significant rewards,” he added.

“More factories and large enterprises create more jobs for our people and generate decent income for their families. This also contributes to a reduction in poverty and reduces illegal migration,” he continued.

Cambodia Chamber of Commerce (CCC) vice-president Lim Heng said Kampong Speu is ripe for investment, as it is close to the capital and also to the Kingdom’s flagship deep-water port.

“In addition, the province seldom experiences natural disasters,” he added.

He explained that as the investment in factories and enterprises in the province had grown, the province had experienced a labour shortage.

“I think several workers factories in Phnom Penh or nearby provinces have temporarily closed due to the international economic downturn. Those workers should relocate to Kampong Speu and look for new positions,” he said.

Samnang said the province has more than 380 medium- and large-scale factories, which employ a total of over 15,000 workers.


  • Tensions high ahead of historic Kun Khmer match up

    The long-awaited November 5 matchup between Kun Khmer legend Prum Samnang and Myanmar-Canadian boxer Dave Leduc has become the most anticipated fight of the year. The Wurkz Sena Kun Khmer promotion, which will be held at the Town Arena at Chip Mong 271 Megamall, will see six

  • Manet: Cambodia safe for travel

    Prime Minister Hun Manet acknowledged that Cambodia and China have cooperated to tackle internet scamming, fraud and other cross border crimes, but insisted that the “Kingdom of Wonders” is completely peaceful and safe. He welcomed tourists to come and explore its rich heritage. During a

  • UNESCO formally list Battambang gastronomy

    Battambang, renowned for its cultural heritage, has achieved a significant milestone as the first Cambodian municipality to join the UNESCO Creative Cities Network (UCCN). The UCCN unites nearly 300 cities prioritising creativity and cultural industries in local development plans and international cooperation. On World Cities Day,

  • Cambodia pivots to solar, wind energy

    Cambodia is planning a move towards solar and wind energy to meet its rising power demands, according to Minister of Mines and Energy Keo Rottanak. On the sidelines of the Singapore International Energy Week event held recently, Rottanak emphasised the urgency of diversifying Cambodia’s

  • Angkor causeway symbol of Cambodia-Japan ties

    In a historic moment marking another milestone in the 70-year-long diplomatic relations between Cambodia and Japan, King Norodom Sihamoni celebrated the formal inauguration of a causeway located to the west of the world-renowned Angkor Wat. While presiding over the November 4 ceremony, the King emphasised the

  • Manet calls for Cambodia’s railways to get back on track

    Prime Minister Hun Manet has instructed the relevant authorities to expedite studies into upgrades to the Phnom Penh to Preah Sihanouk railway line. He suggested that the maximum speed on the line should be increased to 80km/h, in order to expedite the transportation of