Phnom Penh (FN), April 24 – Three real estate and construction companies signed a Memorandum of Understanding, which aims to boost mutual assistance in regards to trade and investment opportunities between China and Cambodia.

The signing ceremony was held on Monday at the Emerald Plus headquarters. Chea Chanboribo, the Secretary of State for the Information Ministry, oversaw the proceedings.

The three representatives included: Kim Heang, President of Cambodian Valuers and Estate Agents Association (CVEAA), Sok Phala, CEO of Emerald Plus and President of Deyang Jinhong Construction Real Estate Co., Ltd, Sichuan, China.

“The main purpose of signing the MoU is to establish formal cooperations between the parties to promote the real estate and construction sectors during a time of politically stablity," said Chea Chanboribo.

“This memorandum will also help the three parties to share comprehensive information involving investment opportunities and laws related to real estate and construction sectors,” said Sok Phala.

“CVEA was created jointly by several real estate services in Cambodia. The association was officially registered at the Ministry of Interior as a non-profit organization in November 2008.

Its mission is to promote business opportunities within the property market and a fairly competitive environment by strengthening professional ethics,” said Kim Heang.

Currently, there are 67 companies in CVEA.