Minister of Tourism Hout Hak and a delegation from the US-ASEAN Business Council (USABC) have concluded that Cambodia is a country with rich tourism potential and attractive investment opportunities.
Both parties have agreed to cooperate to promote Cambodia more widely to attract more tourists and investors from the US to visit and explore investment opportunities, according to the tourism ministry.
Hak met with a delegation from the USABC, led by ambassador Ted Osius, senior vice-president and regional managing director, on December 1. The meeting was also attended by representatives from several major American companies that are members of the council.
According to the ministry, the meeting participants discussed cooperation and investment opportunities in various sectors, including tourism and hospitality.
“This was a new, additional step forward in cooperation between the Cambodian Ministry of Tourism and the US-ASEAN Business Council, bringing positive results and new opportunities for the development of the Kingdom’s tourism sector,” said Hak.
Osius praised Cambodia’s rapid development in a short period, comparing the current situation to when he first visited Cambodia in 1996, said the ministry.
He also mentioned the satisfaction of American investors who are currently investing in the Kingdom, and he is further exploring the real situation and additional investment opportunities from the Royal Government of Cambodia.
The December 1 meeting was attended by representatives from ConocoPhillips, Marriott International, Mastercard, Visa, Ford & RMA, Coca-Cola and Vriens & Partners, who have chosen to invest millions of dollars in Cambodia.
The tourism minister considered these companies’ investments as a strong demonstration of confidence in the government’s leadership.
He also emphasised to the delegation the guarantees of peace, political stability, improved public order and incentives for investors put in place by the Royal Government of Cambodia. All of these aim to provide confidence to foreign investors to invest in Cambodia.
USABC is a group of major American companies operating in the ASEAN region. Established in 1985, the council is headquartered in Washington D.C. and has offices in several major cities in ASEAN.
American member companies of the Council include Abbott, ConocoPhillips, Marriott International, Mastercard, Visa, Meta, 3M, Ford & RMA Cambodia, Manulife, Coca-Cola, Plug and Play and Vriens & Partners.
