Wensheng Chen, president of Jiangxi Provincial Building Material Group, addresses an August 29 meeting at the Council for the Development of Cambodia (CDC) in Phnom Penh. CDC
Chinese company Jiangxi Provincial Building Material Group has expressed interest in investing in a cement plant in Cambodia, with a Cambodian official saying it will contribute to the development of the Kingdom’s construction industry.
On August 29, company president Wensheng Chen led a Chinese investment delegation to study the investment environment and opportunities in Cambodia. They met with leaders and officials from the Council for the Development of Cambodia (CDC).
“The company is an investment company in the cement industry in China, and the purpose of our current visit to Cambodia is to learn more about the investment environment in the Kingdom. We are considering establishing a cement factory in Cambodia,” an August 29 statement from the CDC quoted Wensheng as saying during the meeting.
Chea Vuthy, secretary-general of the CDC’s Cambodia Investment Board (CIB), welcomed the proposed investment, saying: “It will contribute to the development of Cambodian industry, especially the construction sector.”
He suggested that the company should consider contributing to the reduction of environmental pollution through the use of modern technology, as well as the use of clean energy.
“The CIB’s management and officials look forward to providing all possible arrangements for the company to invest in Cambodia,” the statement said.
During the meeting, Vuthy highlighted the role and responsibilities of the CDC in attracting private investment and emphasised the rapid growth of Chinese investment flow into Cambodia.
He added that Cambodia currently has open, transparent and predictable investment laws and regulations, due to the favourable factors of peace and political stability.
According to the CDC report, in the year from September 2023 to August 2024, the CDC approved 391 new and expanded projects, amounting to over $7.5 billion in investment, which created approximately 340,000 jobs.
Throughout this period, investment sources from China ranked first, contributing 60% of the total investment, while domestic investment accounted for 32% of the total,” it noted.
