Thailand: Thais seek business opportunities

• Feb 17, 2017

More than 30 small and medium enterprises (SMEs) from Thailand came to Cambodia this week to explore business prospects and investment opportunities.

A delegation of 32 SMEs, led by chairman of the Thailand-Cambodia Business Council Chanitr Charnchainarong, met with Commerce Minister Pan Sorasak and discussed potential opportunities for cooperation between the two sides. 

The delegation consisted of SMEs specializing in beauty and cosmetic products, spas, food processing, health and supplements and industrial products, according to the ministry.

“With a pro-business government, Cambodia welcomes all investors to do business in Cambodia. To attract investors, Cambodia has one of the most open market economies in the world, with many incentives including tax holidays, duty exemptions for imports of machinery and materials, full foreign ownership, and more,” Mr. Sorasak said.

“In addition, the establishment of strategically located special economic zones not just provides added incentives, but provides for ease of access to the economic corridors and efficient trade facilitation mechanisms,” he added.

Mr. Sorasak said in terms of competitive advantages, Cambodia’s location at the center of Asean allows goods to be transported anywhere in the region in a short period of time.

“Moreover, the preferential treatments that Cambodia receives from the European Union, United States and others provides investors with ready-made markets in which to venture and take advantage of.”  

Bilateral trade volume between Cambodia and Thailand amounts to about $5.2 billion each year and represents substantial trading activity between the two countries, he added. 

Mr. Chanitr said the group is using the trip to look for potential business partners.

The SMEs will meet with officials from the Commerce Ministry as well as the Cambodian Chamber of Commerce in an effort to match businesses with prospective Cambodian partners.

Kasikornbank, one of the largest banks in Thailand, last week officially unveiled its first branch in Phnom Penh with the aim of offering financial services to local businesses.

Source: http://www.khmertimeskh.com/news/35554/thais-seek-business-opportunities/