Alexey Ulyukaev will head the Russian part of the Russian-Cambodian Working Group on promotion of joint investment projects
The First Deputy Minister of Economic Development of the Russian Federation Alexey Likhachev and the Secretary General of the Council for Development of Cambodia Sok Chenda Sophea, in the presence of Prime Minister Dmitry Medvedev and Prime Minister of the Kingdom of Cambodia Hun Sen, have signed a Memorandum of Understanding and Partnership on investment promotion between the Ministry of Economic Development of the Russian Federation and the Council for Development of Cambodia. In addition, the First Deputy Minister of Economic Development of the Russian Federation Alexey Likhachev and the Minister of Commerce of Cambodia Sun Chanthol have signed the regulation on the activities of the Russian-Cambodian Working Group on promotion of joint investment projects.
The purpose of the Memorandum of Understanding is to strengthen and expand investments between the two states; to exchange information and experiences to improve policies to attract investment, and to support business and investment initiatives of legal entities registered on the territory of the Russian Federation and the Kingdom of Cambodia.
Countries will cooperate in the exchange of information on measures to attract investment and investment opportunities, as well as mechanisms of attraction of investments; organization of business missions, seminars and other events on promotion of joint investment and support, promotion of mutually beneficial investment projects and creation of favorable investment climate.
The main objectives of the Working Group on promotion of joint investment projects will be the definition of the list of priority investment projects of Russian-Cambodian cooperation, elaboration of recommendations and proposals to extend and amend the list, monitoring of the progress of cooperation projects, and others.
The Russian part of the Working Group will be headed by the Minister of Economic Development of the Russian Federation, and the Cambodian part – by the Minister of Commerce of the Kingdom of Cambodia. Working Group meetings are held alternately in the Russian Federation and the Kingdom of Cambodia once a year.