Cambodia may be next Asian tiger

PHNOM PENH, Cambodia, May 9 (UPI) — Cambodia may well be the next hot destination for U.S. businesses looking to invest in Asia.The U.S.-ASEAN Business Council, which lobbies on behalf of some of the biggest multinational corporations with interests in Southeast Asia, has sent a delegation to the country this week to seek new investment opportunities in Cambodia.

During their daylong tour Wednesday, nine U.S. executives will meet with Telecommunications Minister So Khun as well as State Secretary Kao Kim Hourn and Health Minister Nuth Sokhom, amongst others.

“Our delegation is here to deepen existing economic ties between the U.S. and Cambodia and to explore new opportunities. We know Cambodia is experiencing unprecedented growth. We believe our corporations bring the wherewithal to help sustain the growth in ways that will strengthen Cambodia,” said Frances Zwenig, counselor of the Council and delegation leader.

The businessmen taking part are representing ConocoPhillips, General Electric Company, Federal Express, ITT Defense and Oracle.

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