Thailand
Walmart eyes business expansion in Cambodia
The American multinational retail corporation Walmart has sought to work with the Ministry of Commerce (MoC) in studying the potential in Cambodia to expand its business operations in the market and to release more orders of international-standard goods from local suppliers in the Kingdom, according to a release by MOC.
Anbinh Phan, a representative of Walmart, said during a video conference meeting with Pan Sorasak, Minister of MoC that the US-based chain-of-hypermarket operator has the intention to expand its business operations and strengthen cooperation with partners in doing business and investment to create more jobs in Cambodia, especially women to help boost the country’s economy and reduce poverty.
Anbinh appreciated the Royal Government of Cambodia that has managed Covid-19 pandemic effectively and the commerce ministry for achieving new free trade agreements such as Regional Comprehensive Economic Partnership (RCEP), Cambodia-China Free Trade Agreement and Cambodia-Korea Free Trade Agreement.
Sorasak also expressed his gratitude to Walmart for releasing the purchase order of clothes and travel goods from Cambodia and welcomed the company’s intention to expand its business operations in the Kingdom that has reopened its economic activities as the ministry will provide support to the company to boost exports to the US market.
“The ministry will continue to cooperate with the company, private sector, ministries and relevant institutions to boost exporting agricultural products to [that] market more and more,” said Sorasak, adding that MoC has strived to enhance the business environment in Cambodia, especially export market diversification including negotiation for bilateral and multilateral free trade agreements with other countries.
The commerce minister went on to add that the ministry also has had institutional enhancement through preparing regulations and modernisation of public services and trade facilitation in order to make doing business easier in Cambodia. The minister also expressed his support for Walmart’s intention to order more goods from Cambodia such as furniture, electronics and agricultural products.
In a virtual meeting with Ith Samheng, Minister of Labour and Vocational Training in late June last year, Anbinh Phan, director of Walmart’s Global Government Affairs said the company would increase orders of Cambodian garments and footwear products in the upcoming year and will also start buying fruits, food products, and electronics.
Walmart is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores in the United States, headquartered in Bentonville, Arkansas. It is still a good trade partner with producers in Cambodia on clothes, textiles and agriculture.
Source: https://www.khmertimeskh.com/501214950/walmart-eyes-business-expansion-in-cambodia/