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On Friday, September 17, the Ministry of Economic Development of Russia and the Ministry of Trade of Cambodia held the 2nd meeting of the Russian-Cambodian High-Level Task Group on promoting joint investment projects. The main objective of the Task Group is to search for promising investment projects and assist in their implementation. As a result of the event, the List of investment projects with a deadline for implementation until 2025 was adopted.
Within the Task Group meeting, five Russian companies presented their projects to potential Cambodian partners: KAMAZ (establishing truck assembly in Cambodia), Orenburg Minerals (production of building materials from chrysotile asbestos), Insiprom (installation of Russian-made incinerators for processing industrial and medical waste), Carboil (production of heat-insulating mixture from rice husk) and ELTEX (telecommunication equipment for building communication networks).
The event allowed for an open exchange of views between Russian business interested in entering the markets of Southeast Asia and representatives of the public and private sectors of the Kingdom, to discuss the practical possibilities of implementing the projects proposed for discussion, based on the current investment legislation of Cambodia, and potential difficulties.
“We are aimed at opening a new chapter in trade and investment cooperation with Cambodia and expect to use the format of the Task Group as a platform for investors from Russia and Cambodia, who are ready, with the assistance of the Ministry, to openly and substantively discuss specific projects,” said the Director of the Department Multilateral Economic Cooperation and Special Projects of the Ministry of Economic Development of Russia Natalya Stapran during the opening ceremony of the meeting.
The event was attended by over 80 representatives of Russian and Cambodian companies and organizations, including the heads of a number of sectoral ministries of the Kingdom.