Visiting Norwegian Vice-Foreign Minister Morten Hoglund said here Tuesday that many Norwegian investors are interested in doing businesses in Cambodia and his visit was to observe Cambodia's potential sectors for investment.

Hoglund made the remarks during a meeting with Cambodian Deputy Prime Minister and Foreign Minister Hor Namhong.


Hoglund said Cambodia has vast potential for investment and the two countries have much room for economic cooperation.
"When I return, I will encourage Norwegian investors to come to Cambodia so as to increase bilateral cooperation in economy, trade and investment,"he said.

Hoglund pledged Norway would continue providing humanitarian assistance to Cambodia, especially for mine clearance.

For his part, Hor Namhong expressed his hope to see increased economic cooperation between the two countries and thanked Norway for granting development aid to Cambodia.

He also briefed Hoglund about the current political and economic situation in Cambodia, saying that the Cambodian government was optimistic about the country's development in all fields despite criticism from the opposition. "Cambodia is moving on the right track toward progress in all fields -- not only socio-economic development, but also human rights and democracy,"the deputy prime minister said.

The country has maintained an annual economic growth rate of 7 percent for a medium term and the poverty rate declined to 18 percent last year, he added.

The two sides also exchanged views on regional issues.

Cambodia and Norway established diplomatic ties in 1994. Bilateral trade volume is still low -- around 23 million US dollars a year, according to Cambodian Foreign Ministry spokesman Koy Kuong.