- The strategic partnership is aiming to explore market opportunities,
- Identifying new areas of growth, and leveraging their combined resources and expertise to better serve customers and grow their businesses
- The collaboration will encourage more quality investments from China to Cambodia
“Combining both sides’ complementary resources, the two companies will explore innovative projects together, such as science and technology incubators, venture capital funds, cross-border digital finance, and investments in tourism industries”
ZILLENNIUM GROUP, a leading real estate marketplace in Cambodia, has announced a strategic partnership with MAOCUTONG (CHINA) INDUSTRIAL GROUP, a prominent player in the tech industry based in Yunan province, China. The partnership is aimed at exploring the potential of collaboration between the two companies in the marketplace space and encouraging more quality investments from China to the Kingdom.
The MoU signing ceremony took place on Thursday, 16th February 2023, at Raffles Hotel Le Royal, witnessed by distinguished guests and potential investors. Mr. Kuy Vat, Group Chairman of ZILLENNIUM GROUP, and Mr. Jack Wang, Chairman of MAOCUTONG (CHINA) INDUSTRIAL, signed the MoU, marking the official launch of the partnership.
“We are thrilled to announce this strategic partnership with MAOCUTONG (CHINA) INDUSTRIAL GROUP,” said Mr.Gao Shan, Chinese Investor Relations Director at ZILLENNIUM GROUP.
“This collaboration demonstrates our commitment to driving innovation and growth in potential sectors in Cambodia. By working together, we aim to unlock the full potential of the marketplace and provide more comprehensive and innovative solutions to the local market. We will deepen our collaboration and provide a model for more Chinese companies to invest in the country,” he added.
ZILLENNIUM GROUP is a local conglomerate with an ecosystem focused on innovative and tech-driven services in Cambodia’s real estate market. The company was founded in 2018 by a young, energetic team with over 90 years of cumulative experience in real estate and business management.
The partnership between ZILLENNIUM GROUP and MAOCUTONG (CHINA) INDUSTRIAL GROUP will see both parties providing support to each other, unlocking market potential in Cambodia’s marketplace. The companies will identify relevant stakeholders and market segments, deliver innovative services, and explore market opportunities for prospective business collaborations.
Combining both sides’ complementary resources, the two companies will explore innovative projects together, such as science and technology incubators, venture capital funds, cross-border digital finance, and investments in tourism industries, according to Jack Wang, Chairman of MAOCUTONG (CHINA) INDUSTRIAL GROUP.
“This partnership with ZILLENNIUM GROUP is a great opportunity for MAOCUTONG (CHINA) INDUSTRIAL GROUP to expand our reach into the Southeast Asian market,” said Jack Wang. “By leveraging our expertise and working together with ZILLENNIUM GROUP, we aim to create a stronger, more dynamic marketplace in Cambodia that benefits both companies and consumers alike.”
The strategic partnership between ZILLENNIUM GROUP and MAOCUTONG (CHINA) INDUSTRIAL GROUP comes at an opportune time, following the visit of Samdech Prime Minister Hun Sen to China from February 9 to 11, 2023, to enhance trade and investment ties between the two nations. The visit is set to boost economic cooperation and political relations and is being seen as an important step towards a shared future between the two nations.
During the three-day visit, Samdech Prime Minister called on Chinese investors and businessmen to invest and expand their businesses in Cambodia, taking advantage of the country’s free trade agreements and mega-regional trade pact
According to Economic and Commercial Office of the Chinese Embassy to Cambodia reported that bilateral trade volume between Cambodia and China hit a whopping $14.5 billion from January to November 2022, a year-on-year increase of 19 percent.
The impact of the partnership between ZILLENNIUM GROUP and MAOCUTONG (CHINA) INDUSTRIAL GROUP on Cambodia’s marketplace is expected to be significant. They will tap into new opportunities, better understand the market, and provide more comprehensive and innovative solutions to their customers. This, in turn, is expected to result in increased growth and success for both companies and contribute to the country’s development.