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Malaysian investors to explore investment opportunities in Cambodia
Scores of Malaysian companies will attend the SME trade mission and business forum to be held this week in Phnom Penh to seek investment opportunities in Cambodia.
The SME trade mission is organised by the SME Association of Malaysia, co-organised by the Malaysian Business Chamber of Cambodia (MBCC) and supported by the Royal Embassy of Cambodia to Malaysia.
The SME trade mission will commence from April 27 to May 1 in Phnom Penh.
A total of 50 delegates from 36 Malaysian companies are expected to attend, an MBCC press release said.
“The objective of the mission is leverage on the Regional Comprehensive Economic Partnership (RCEP) to create business opportunities between Malaysia and Cambodia besides enhancing bilateral trade between the two Asean partners,” read the statement.
The Business Forum is scheduled to be held on April 28 and will be officiated by Sok Chenda Sophea, Minister attached to Prime Minister, Secretary-General of the Council for the Development of Cambodia, and senior officials from the Ministry of Commerce as well as ambassadors of both Malaysia and Cambodia.
In February, prime ministers of the two countries discussed initiatives to further strengthen Malaysia and Cambodia’s long-standing relations, including post-Covid-19 cooperation, Asean cooperation, as well as regional and international issues of mutual interest.
In the first quarter of this year, the two-way trade between Cambodia and Malaysia increased by 15 percent to $147 million.
Cambodia exported $27 million worth of goods to Malaysia, a decrease of 8.2 percent year on year, while imports from Malaysia increased by 22.5 percent to $120 million.
The main export products of the Kingdom to Malaysia are cloths, milled rice, industrial products, while the main products imported from Malaysia are auto spare parts, food and beverage, and electronic devices.
Trade relations between Cambodia and Malaysia have significantly improved with the volume of imports increasing significantly, said Penn Sovicheat, under-secretary of state of the Ministry of Commerce.
The partnership between the two countries will have long-term economic cooperation and assist each other in Asean framework and on behalf of bilateral partners – RCEP, he said.
Source: https://www.khmertimeskh.com/501063580/malaysian-investors-to-explore-investment-opportunities-in-cambodia/