
21 Sept 2024
At the forum, six major business associations in Shenzhen including AITFM have co-founded a global alliance which aims to provide on-the-ground support services for companies in the Guangdong-Hong Kong-Macao Greater Bay Area to invest and develop internationally.
On September 20th 2024, the China-Cambodia (Shenzhen) Investment and Trade Exchange Conference, hosted by the Shenzhen Government Procurement Association and the Cambodian Investors Association Alliance, was held in Shenzhen. More than 300 representatives from Chinese and Cambodian political and business circles attended the event. Representatives from Huawei, BYD, and China's top 5 airlines, including Air China and China Southern Airlines, were also present. During the conference, the Greater Bay Area Industry Going Abroad Alliance, with the Association of Innovative Technology Finance and Marketing (AITFM) as a founding member, was officially established, and relevant Chinese and Cambodian business associations and enterprises signed cooperation agreements.

This year marks the 66th anniversary of the establishment of diplomatic relations between China and Cambodia. With the implementation of the China-Cambodia Free Trade Agreement (CCFTA) and the Regional Comprehensive Economic Partnership (RCEP), policy dividends are gradually being released. According to Cambodian statistics, China has maintained its position as Cambodia's largest trading partner for 12 consecutive years. In 2023, China's cumulative investment in Cambodia reached $3.24 billion, accounting for 66% of total investment. China is the largest export destination for Cambodian rice, bananas, and longan, with about 30% of Cambodian rice and the vast majority of Cambodian bananas and longan being exported to China. This year, Cambodian pepper, edible aquatic animals, and wild aquatic products have been exported to China, and both sides have signed a protocol on the export of Cambodian coconuts to China, accelerating the entry of high-quality agricultural products such as bird's nests and cooked meat products into the Chinese market. China and Cambodia also have close cooperation in infrastructure, electricity, healthcare, education, and training.

Feng Qiang, President of the Shenzhen Government Procurement Association, stated that the trend of Chinese enterprises going abroad is unstoppable. As a hub-type service platform in the field of government procurement, the association has a responsibility to pave the way for enterprises in the Greater Bay Area. It will continue to implement the consensus reached by the leaders of the two countries and the deployment of the Shenzhen Municipal Party Committee and Municipal Government to serve enterprises going abroad, promote the internationalization of enterprises with high-quality services, explore the potential of trade cooperation, expand investment cooperation in the field of government procurement, and promote more Greater Bay Area projects to land in Cambodia and Southeast Asia, injecting Shenzhen's energy into the China-Cambodia community of shared future.

Duke Li Kuntai, economic adviser to the prime minister of Cambodia and Chairman of the Cambodian Investors Association Alliance (CCIA), introduced that Cambodia has made remarkable achievements in infrastructure, agriculture, manufacturing, and tourism in recent years. The Cambodian government has implemented reforms and increased efforts to attract foreign investment, providing good opportunities for Chinese enterprises to enter the Cambodian market. China and Cambodia can also cooperate in people-to-people exchanges and technology transfer, sharing experiences through training and exchanges to help enhance the competitiveness of Cambodian enterprises and achieve common development.

The newly established Greater Bay Area Industry Going Abroad Alliance is composed of 6 major business associations, including the Shenzhen Government Procurement Association, and dozens of enterprises. It aims to implement the "Belt and Road" initiative and the "going abroad" of Greater Bay Area enterprises, play a bridging role, provide one-stop customized overseas service support for Greater Bay Area enterprises, and assist enterprises in overseas investment and landing.

During the conference, several experts delivered speeches on various subjects, including investment opportunities and company structures. They discussed the advantages of investing in Cambodia, such as the favorable business environment, attractive tax incentives, and the availability of a young and skilled workforce. The experts also shared insights on the most suitable company structures for foreign investors, taking into account factors such as the nature of the business, the level of foreign ownership, and the desired level of control.
