Cambodian powerful tycoon Pung Kheav Se, economic advisor to Prime Minister Samdech Techo Hun Sen, formally became the president of the Association of Khmer-Chinese in Cambodia on Tuesday.
Kheav Se, who is the president of Canadia Bank and the developer of multi-billion-dollar Diamond Island City along the Tonle Bassac River in Phnom Penh, succeeded ailing tycoon Duong Chhiv, who retired after holding the post for 16 years.
Speaking at a power-transfer ceremony, Kheav Se vowed to further boost Cambodia-China relationship and to attract more Chinese investors to Cambodia.
"We will continue to support the Cambodian government in socio-economic development and try to attract more Chinese investors to Cambodia," he said, adding that the association would continue to further promote Chinese culture in the country.
He said during his tenure, he would establish two offices - Trade Promotion Office and Legal Consultation Office - to provide latest information to Chinese investors.
It is estimated that more than 700,000 Chinese descendants are living in the Southeast Asian nation.
Chinese Ambassador to Cambodia Xiong Bo said the Association of Khmer-Chinese in Cambodia played a crucial role in unifying all Chinese in Cambodia and contributing to socio-economic development in the country.
"The association has worked actively to promote Chinese culture and language in Cambodia," he said. "It has also importantly contributed to fostering the traditional friendly relations between the two countries."
