EU will spend $3.9 million to market investment in Cambodia

European Union flags fly in front of the European Commission headquarters in BrusselsThe European Union will spend 3 million euros ($3.9 million) on a programme to encourage small and medium enterprises to invest in Cambodia.
Speaking at a conference on September 16 in Phnom Penh, EU Ambassador to Cambodia Jean-Francois Cautain 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 per cent 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,” Cautain said.

“So I think there is room for improvement when it comes to businesses here in Cambodia.”

Curtain added that a larger presence from European businesses would help create greater competition and a more sustainable business environment.

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.

“Especially for small and medium enterprises, we usually see Cambodia as a very faraway country with a different way of doing business, and we are unable to approach the market because mostly they don’t know how to do it,” he said.

Menanteau said that the grant would allow EuroCham to boost Cambodia’s image in both in the EU and in ASEAN, where many European investors were already well established.

“They [European businesses] don’t know what kind of businesses opportunities are represented here,” he said.

The EuroCham chairman said that his organisation would focus on attracting European SMEs looking to invest in value-added manufacturing, as well as in sectors such as hospitality and tourism, where European firms already have some presence.

The grant would strengthen EuroChams ability guide firms on how to do business in Cambodia, Menanteau said.

 



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The European Union will spend 3 million euros ($3.9 million) on a programme to encourage small and medium enterprises to invest in Cambodia. Speaking at a conference on September 16 in Phnom Penh, EU Ambassador to Cambodia Jean-Francois Cautain 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 per cent of total FDI in ASEAN countries are coming from European Union investors. If we look at Cambodia it...

European Union flags fly in front of the European Commission headquarters in BrusselsThe European Union will spend 3 million euros ($3.9 million) on a programme to encourage small and medium enterprises to invest in Cambodia.
Speaking at a conference on September 16 in Phnom Penh, EU Ambassador to Cambodia Jean-Francois Cautain 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 per cent 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,” Cautain said.

“So I think there is room for improvement when it comes to businesses here in Cambodia.”

Curtain added that a larger presence from European businesses would help create greater competition and a more sustainable business environment.

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.

“Especially for small and medium enterprises, we usually see Cambodia as a very faraway country with a different way of doing business, and we are unable to approach the market because mostly they don’t know how to do it,” he said.

Menanteau said that the grant would allow EuroCham to boost Cambodia’s image in both in the EU and in ASEAN, where many European investors were already well established.

“They [European businesses] don’t know what kind of businesses opportunities are represented here,” he said.

The EuroCham chairman said that his organisation would focus on attracting European SMEs looking to invest in value-added manufacturing, as well as in sectors such as hospitality and tourism, where European firms already have some presence.

The grant would strengthen EuroChams ability guide firms on how to do business in Cambodia, Menanteau said.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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