A delegation of major Austrian companies has reportedly expressed strong interest in exploring investment opportunities and establishing long-term partnerships with Cambodia.
The Cambodia–Austria Business Forum was held at the Council for the Development of Cambodia (CDC) headquarters, this morning, March 17.
Andreas Sumper, deputy head of mission at the Austrian embassy to Cambodia, led a delegation from 19 major Austrian companies to the forum, which was also attended by CDC first vice-president Sun Chanthol.
Also in attendance were representatives from numerous Cambodian government institutions, along with the Cambodian Oknha Association and the Cambodia Chamber of Commerce.
According to the CDC, the Cambodia–Austria Business Forum formed a key part of the largest-ever trade mission by Austrian companies to Cambodia.
The forum was organised to provide Austrian investors with deeper insights into Cambodia’s investment climate and market environment, while facilitating high-level discussions with relevant ministries and institutions. According to the CDC, it is expected to lay the foundation for the creation of new business partnerships in Cambodia.
Chanthol told the visiting Austrians that Cambodia is one of the most dynamic and forward-looking investment destinations in Southeast Asia.
With highly favourable investment laws, strong government attention to the private sector, macroeconomic stability, a young workforce, rapidly developing interconnected infrastructure and the Royal Government’s firm commitment to combating online scam crimes, Cambodia offers an increasingly attractive environment for foreign direct investment, he noted.
Members of the visiting delegation expressed their appreciation to the CDC leadership and Cambodia’s private sector for their excellent cooperation and warm support during the mission.
“This business forum is expected to serve as an important step in transforming discussions into concrete bilateral business-to-business (B2B) partnerships,” said a CDC statement.
“Through close cooperation between the CDC and the Austrian embassy, both sides are confident that more Austrian companies will establish a presence in Cambodia, contributing significantly to the modernisation of industry and to inclusive and sustainable economic growth in the country,” it added.
Sam Soknoeun, a member of the Cambodia Chamber of Commerce who attended the forum, told The Post on March 17 that the Austrians showed genuine interest in investing directly in Cambodia due to the country’s favourable investment law and other supporting factors. Cambodia is currently considered one of the most attractive destinations for foreign direct investment in the ASEAN region.
“I am optimistic that in the near future there will be Austrian companies investing directly in Cambodia,” he said.
According to Soknoeun, the companies operate in a wide range of sectors, including construction, railway development, services and technology manufacturing.
On March 4, during a meeting with Senate president Hun Sen, Katharina Wieser, the newly appointed Austrian ambassador, pledged to further strengthen relations and cooperation, particularly in trade and investment. She also noted that representatives from Austrian companies would soon travel to Cambodia to explore opportunities for direct investment or partnerships with local investors.
