Malaysia is investing some US$250 million to establish a Cambodia Islamic Trade Centre (CITC) seen as positive contribution to the country's economic development.
Director of Malaysia-based property developer and construction outfit Suria Padu Development SDN BHD in charge of the project Mr. Dato Mohammad Kassin revealed the plan yesterday during a meeting with H.E. Osman Hasan, Delegate Minister attached to Prime Minister here in Phnom Penh.
Cambodia's consistent economic growth and its improved investment opportunity, added the director, has inspired the project.
The project will emerge through a joint venture with Saudi Arabia's King Faisal Foundation and focus on a wide range of industries, including halal, hotel, tourism, health, education, shopping, and beyond
H.E. Osman Hasan welcomed the company's investment project in Cambodia, stressing that the country is well ready for large-scale investments.
The delegate minister dedicated the readiness to the Royal Government of Cambodia's efforts to ensure peace and political stability, eventually sustaining 7 percent economic growth annually.
Source: Agency Kampuchea Press