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| Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen and Chinese enterpreneurs pose for a group photo. Photo: China Minsheng Investment Group |
Cambodia-China investment forum kicks off in Phnom Penh
Leading government and business figures to meet in Phnom Penh to discuss Chinese investment in Cambodia and sign cooperation and investment agreements
| 2 December 2016
Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen
addressed the Cambodia China Business Forum and Financial Development
Forum at Garden City Hotel in Phnom Penh, which will bring together
leading business people and government leaders from Cambodia and China.
The
forum, the first of its kind in Cambodia, was organized by China's
leading private investment firm, China Minsheng Investment Group (CMIG),
and Cambodia's Ly Yong Phat Group (LYP Group), following a meeting
between the Cambodian Prime Minister and CMIG Chairman Dong Wenbiao in
Phnom Penh in September.
Cambodian
Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen addressed the
Cambodia China Business Forum and Financial Development Forum at Garden
City Hotel in Phnom Penh. Photo: China Minsheng Investment Group
Chinese ambassador to Cambodia Xiong Bo. Photo: China Minsheng Investment Group
CMIG Chairman Dong Wenbiao. Photo: China Minsheng Investment Group
The
forum's tagline, "Cambodia: The Kingdom of Opportunity Along The "One
Belt, One Road", underlines the commitment of the Royal Government of
Cambodia, the Chinese government and private enterprises like CMIG to
make progress in developing opportunities for Chinese investment in
Cambodia, whose economic growth has been described as "Olympian" by the
Asia Development Bank (ADB).
The presence at the forum of so many
decision-making business leaders and officials from both China and
Cambodia singled this forum out as a real opportunity to ramp up
business and investment opportunities between the two countries.
During a state visit to Cambodia in October, Chinese President Xi Jinping affirmed during a meeting with Prime Minister Hun Sen that China stood ready to participate fully in Cambodia's economic development through economic cooperation and mutually beneficial investment as part of the "One Belt, One Road" initiative.
The forum also signifies a burgeoning Sino-Cambodian relationship that has already seen significant Chinese investment in projects like the Sihanoukville Port Special Economic Zone, a project underwritten by China's Hongdou Group, a shareholder in CMIG.
Another CMIG-related Chinese firm, Fudian Bank, is also actively investing in Cambodia as part of the expansion of its wide geo-financial networks covering southeast Asia including Cambodia, Laos, Vietnam, Thailand, Malaysia and Singapore.
The forum attracted hundreds of delegates from China - including over 300 guests from CMIG's shareholder enterprises as well as representatives from the Asia Financial Cooperation Association (AFCA), the All-China Federation of Industry and Commerce (ACFIC), the China Council for the Promotion of International Trade (CCPIT).
Cambodian delegates included His Excellency Sok Chenda, Secretary General of the Council for the Development of Cambodia, His Excellency Chea Sophara, Minister of Land Management, Urban Planning and Construction and His Excellency Chea Chanto, Governor of the National Bank of Cambodia as well as leading Cambodian business people and associations.
Discussions at the forum focused on topics like China-Cambodia industrial and financial cooperation and explored case studies of previous Chinese investments in Cambodia with a view to improving their efficiencies and benefits.
The forum was expected to culminate with a major signing ceremony featuring the inking of investment and cooperation agreements between Chinese and Cambodian officials and businesses.
ABOUT CHINA MINSHENG INVESTMENT GROUP
China Minsheng Investment Group (CMIG) is a leading international private investment group founded in Shanghai on August 21, 2014 with registered capital of 50 billion yuan.
The joint establishment of CMIG by 59 renowned private enterprises was initiated by the All-China Federation of Industry and Commerce (ACFIC) and approved by the Chinese State Council.
CMIG has identified its strategic direction of "integration of industry and finance," and is building a sound global industrial financial platform by expanding complementary businesses in industry and finance.
CMIG's focused areas in industry include new energy, home-based care for the elderly, construction industrialization and general aviation, among others.
CMIG will fully utilize its integrated resources and capital strength to prioritize target industries to carry out strategic investments, build a sustainable and strategic business model, transfer traditional excess capacity to advantageous industries and boost China's economic transition and development.
CMIG is also focused on establishing a full-licensed financial holding group with core operations in traditional businesses such as insurance, banking, leasing and asset management coupled with Internet finance.
Committed to the "Two Pronged Strategy" synergetic development, with a focus on the "Belt and Road Initiative", CMIG is actively promoting the "integration of industry and finance" and expanding its business at home and overseas.
Through expedited development of global investment and asset management capabilities, CMIG will be able to establish a global industrial-financial platform that leads Chinese private investment and boosts China's economic transition and upgrade.
CMIG has set the goal of becoming a premier world-class investment group.
During a state visit to Cambodia in October, Chinese President Xi Jinping affirmed during a meeting with Prime Minister Hun Sen that China stood ready to participate fully in Cambodia's economic development through economic cooperation and mutually beneficial investment as part of the "One Belt, One Road" initiative.
The forum also signifies a burgeoning Sino-Cambodian relationship that has already seen significant Chinese investment in projects like the Sihanoukville Port Special Economic Zone, a project underwritten by China's Hongdou Group, a shareholder in CMIG.
Another CMIG-related Chinese firm, Fudian Bank, is also actively investing in Cambodia as part of the expansion of its wide geo-financial networks covering southeast Asia including Cambodia, Laos, Vietnam, Thailand, Malaysia and Singapore.
The forum attracted hundreds of delegates from China - including over 300 guests from CMIG's shareholder enterprises as well as representatives from the Asia Financial Cooperation Association (AFCA), the All-China Federation of Industry and Commerce (ACFIC), the China Council for the Promotion of International Trade (CCPIT).
Cambodian delegates included His Excellency Sok Chenda, Secretary General of the Council for the Development of Cambodia, His Excellency Chea Sophara, Minister of Land Management, Urban Planning and Construction and His Excellency Chea Chanto, Governor of the National Bank of Cambodia as well as leading Cambodian business people and associations.
Discussions at the forum focused on topics like China-Cambodia industrial and financial cooperation and explored case studies of previous Chinese investments in Cambodia with a view to improving their efficiencies and benefits.
The forum was expected to culminate with a major signing ceremony featuring the inking of investment and cooperation agreements between Chinese and Cambodian officials and businesses.
ABOUT CHINA MINSHENG INVESTMENT GROUP
China Minsheng Investment Group (CMIG) is a leading international private investment group founded in Shanghai on August 21, 2014 with registered capital of 50 billion yuan.
The joint establishment of CMIG by 59 renowned private enterprises was initiated by the All-China Federation of Industry and Commerce (ACFIC) and approved by the Chinese State Council.
CMIG has identified its strategic direction of "integration of industry and finance," and is building a sound global industrial financial platform by expanding complementary businesses in industry and finance.
CMIG's focused areas in industry include new energy, home-based care for the elderly, construction industrialization and general aviation, among others.
CMIG will fully utilize its integrated resources and capital strength to prioritize target industries to carry out strategic investments, build a sustainable and strategic business model, transfer traditional excess capacity to advantageous industries and boost China's economic transition and development.
CMIG is also focused on establishing a full-licensed financial holding group with core operations in traditional businesses such as insurance, banking, leasing and asset management coupled with Internet finance.
Committed to the "Two Pronged Strategy" synergetic development, with a focus on the "Belt and Road Initiative", CMIG is actively promoting the "integration of industry and finance" and expanding its business at home and overseas.
Through expedited development of global investment and asset management capabilities, CMIG will be able to establish a global industrial-financial platform that leads Chinese private investment and boosts China's economic transition and upgrade.
CMIG has set the goal of becoming a premier world-class investment group.
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