Awide-ranging delegation of Malaysian companies attended a business seminar in Phnom Penh to explore investment opportunities in Cambodia.
For in depth analysis of Cambodian Business, visit Capital Cambodia
Speaking at the event, Raja Badrulinzam Raja Kamalzaman, director of the Asean & Oceania Section of the Malaysia External Trade Development Corporation (Matrade), said the Malaysian delegation represents 25 companies looking for local trade partners to enter Cambodia’s market or export their products here.
He said the delegation is composed of firms from the food and beverage, cosmetic, construction, machinery and equipment, ICT and services industries.
Mr Badrulinzam added: “On behalf of Matrade, we continue to view Cambodia as a very important market for doing business. This country is Malaysia’s key investment partner. Better trade cooperation between our countries would enable us to be the largest investor here and aid the development of the country.”
The seminar was organised by Matrade and the Cambodia Chamber of Commerce and held yesterday at Sokha Hotel.
Dubbed the “Cambodia-Malaysian Business Opportunities” event, the seminar serves as a platform to connect Malaysian and Cambodian firms and boost trade ties between the countries, according to the organisers.
Matrade, an institution of the Ministry of International Trade and Industry, is Malaysia’s national trade promotion agency.
It plays an important role in promoting the export of Malaysia’s manufactured and semi-manufactured products as well as services.
The seminar comes a few weeks after the state visit to Cambodia of Malaysian Prime Minister Mahathir Mohamad.
Malaysian exports to Cambodia are mostly food, chemical, and machinery, Mr Raja Badrulinzam said.
Malaysia imports agricultural products, textiles and footwear, palm oil and raw materials from Cambodia, he added.
According to Matrade, trade between the two countries reached $484.9 million from January to July this year, an increase of 42.1 percent compared with the same period in 2018.
Ambassador Eldeen Husaini Mohd Hashim of Malaysia to Cambodia, said the seminar will boost trade between the countries, noting that, during its duration, a few deals will be signed between Cambodian and Malaysian companies.
The ambassador noted that Malaysia was Cambodia’s biggest investor from 1994 to 2006.
“Now it is time for us to take back what belongs to us,” he stressed.
“We will be the largest investor again in Cambodia.”
Nguon Meng Tech, director-general of the Cambodia Chamber of Commerce, said Malaysia continues to be a key business partner for Cambodia that has contributed notably to its economic growth.
Mr Meng Tech urged Malaysian investors to seek business opportunities here, a country that boasts a good investment policy.
“I hope Matrade will help promote Cambodia to Malaysian investors and encourage them to look for business opportunities in the country,” he said.
- Tags: Malaysian companies