Cambodia: Thai investors seek ties in Kingdom

• Jun 25, 2019

Dozens of businessmen and investors from Thailand will seek investment opportunities in the Kingdom during a forum aimed at fostering tie-ups with Cambodian businessmen in Phnom Penh scheduled for today.

Ngoun Meng Tech, Cambodia Chamber of Commerce director-general, yesterday said that about 40 companies from Thailand will explore partnerships with local partners in Cambodia during the forum this week.

“Due to Cambodia’s stable economic growth stable, investors including from Thailand are showing interest in looking for investment opportunities in the Kingdom,” he said. “Thai businessmen want to explore opportunities here due to the close relationship between the two governments.”

Mr Meng Tech noted that the business tie-ups would contribute to bilateral trade between both countries.

“[I] don’t know yet what sectors the Thai businessmen are interested in but I hope their presence will attract more big companies from Thailand to invest in the Kingdom,” he added.

Seang Thay, Ministry of Commerce spokesman, recently said that investments from Thailand are increasing because businessmen want to set up factories in Cambodia since products are directly imported from Thailand.

“With economic growth and political stability, Thai investors have started to invest by building factories inside Cambodia, rather than exporting from Thailand,” he said.

The governments of Cambodia and Thailand have agreed to push up bilateral trade to $15 billion by 2020.

Figures from Royal Thai Embassy in Cambodia showed that bilateral trade between the two countries reached $8.3 billion in 2018, up 35 percent compared to 2017. Thailand’s exports to Cambodia amounted $7.6 billion in 2018.

Source: https://www.khmertimeskh.com/50617337/thai-investors-seek-ties-in-kingdom/