Cambodia devoted to globalisation and fair, open trade: Hun Sen

Prime Minister Hun Sen yesterday said that Cambodia is fully committed to working with the international community to ensure fair and open trade, as well as maintain regional and global peace, security and stability.

The Cambodian premier was speaking at the World Investment Forum, held in Geneva, Switzerland.

Mr Hun Sen said Cambodia believes globalisation promotes economic growth and reduces poverty, and said his government is committed to enhancing global interconnectedness.

He said there is now an anti-globalisation movement generated by growing inequality among countries, creating distrust among governments and a fear of worldwide integration.

He called on all heads of state to work to protect the current global investment climate and geo-political stability, and build trust in the global financial system and the industrial sector.

“As a member of the United Nations, Cambodia is ready to work with relevant stakeholders to safeguard a free and fair trade system, and maintain regional and global peace, security and stability.

“At the same time, I would like to invite leaders, investors and companies to join us as investment partners to contribute to the development of Cambodia and to global growth,” Mr Hun Sen said.

He assured investors that Cambodia boasts a favorable investment climate, which, he says, has been achieved by ensuring peace, security, political and macroeconomic stability, as well as improving the legal and institutional framework.

“I fully support international policy that promotes regional and global investment, and call on development partners to provide technical assistant to least developed countries in order to support the effective formulation and implementation of growth-oriented policy,” the premier said.

He explained that Cambodia is now developing its vision and strategy to boost foreign direct investment (FDI) in the country.

This strategy, he said, is based on expanding the production base, building soft and hard infrastructure, reducing the cost of electricity, facilitating trade, developing the country’s human capital, embracing new technologies, improving the financial sector, and reforming the legal system and the country’s institutions.

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