18 September 2014
The
European Union will spend €3 million ($3.9 million) on a program to encourage
small and medium enterprises to invest in Cambodia.
EU
Ambassador to Cambodia said the five-year grant to be managed by EuroCham would
be used to market Cambodia as an investment destination for European businesses
and to strengthen advocacy to create a favourable business environment in the
Kingdom. “I think that 24% of total FDI in ASEAN countries are coming from
European Union investors. If we look at Cambodia it is only 2 per cent coming
from European Union investors.”
EuroCham
chairman Emmanuel Menanteau said Europe’s proximity to Southeast Asia and lack
of knowledge of Cambodia’s business climate meant European businesses had a
much smaller presence here than countries like China, Japan and South Korea.
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