Malaysian Investment Projects Worth $3.2B Registered in Cambodia
The Council for the Development of Cambodia (CDC) registered a total of 162 Malaysian investment projects worth $3.2 billion as of February 2022, as more Malaysian investors have sought an understanding of the investment opportunities in the Kingdom.
The figures of the Malaysian investment in Cambodia were shared in a meeting last week between Nut Un Voanra, Deputy Secretary-General of the Cambodian Investment Committee of CDC; visiting governor of Malacca Tun Mohd Ali Rustam; and Ambassador of Malaysia to Cambodia Eldeen Husaini Mohd Hashim.
Malaysian delegates expressed interest in investing more in education and vocational training, real estate, mining, and energy sectors in the meeting.
Nut Voanra said that Cambodia is ready to cooperate with the Ambassador and officials from Malaysia to provide information on investment and facilitate the visits of other Malaysian investment delegations in the near future.
Lim Heng, Vice-president of the Cambodia Chamber of Commerce, said yesterday that Malaysian investors had seen Cambodia as a significant investment destination as the Kingdom has signed trade agreements with China and South Korea.
The Kingdom is a country that offers all kinds of favourable conditions and is open to investment to produce for export, Heng said.
“Cambodia is a country attracting foreign investors, as the Kingdom opens to investors at all levels. As a result, many companies from Malaysia have come to invest in Cambodia in almost all areas, resulting from confidence of investors in the Cambodian government. Cambodia has provided all the favours to the industrial sector, factories, enterprises for production and exports,” Heng said.
Cambodia has the trade preferential pacts – FTA with China, South Korea, the RCEP, and GSPs in the UK and US, and EBA in the EU, which are the factors attracting more investors to step into the Kingdom, he said.
“Malaysian companies that come to invest in Cambodia due to many free trade agreements that Cambodia has signed. I think this is a good thing for investors to come to Cambodia,” he said.
Malaysia is among the main foreign investments in Cambodia in the sectors of real estate, garment factories, and processing plants.
In a meeting with Kampong Speu governor in mid-March, Malaysian Ambassador to Cambodia Eldeen Husaini Mohd Hashim said that he led a group of Malaysian investors to seek to understand the potential of key sectors of real estate, tourism, trade, agriculture, industry, and solar power in Kampong Speu province.
He said he would boost investors in tourism, trade, real estate, agriculture, industry, and solar power in Kampong Speu in the future.
Samnang placed high hopes on the raised Malaysian investment projects.
“When Malaysian investors are interested and come to invest inKampong Speu province, then thepeople of Kampong Speu have moreincome through job opportunities,”Samnang said.
The Cambodia-Malaysia trade volume surpassed $500 million in 2021, rising by 13.14 per cent over a year earlier, according to the Ministry of Commerce.
Cambodia’s exports to Malaysia exceeded $101 million, year-on-year increasing by 2.6 percent, and imports were valued at $399 million, a 16 percent year-on-year increase. Khmer Times