Prime Minister Hun Manet has made it clear that his government welcomes companies which are seeking opportunities to invest in the Kingdom’s agriculture sector.
He reiterated the government’s intention to steer the agriculture sector away from small family holdings towards large strategic operations that will serve the export market.
The remarks came as he met with Tran Ba Duong, chairman of the Board of Directors of the Truong Hai Automobile Joint Stock Company (Thaco), on the sidelines of his formal visit to Vietnam, on December 12.
Manet was briefed by Duong on his business activity in Cambodia – predominantly fruit, industrial crops, processing factories and animal husbandry – as well as his plans to expand the company’s investments and contribute to economic growth and job creation for Cambodians.
The prime minister spoke highly of the company’s investment in the Kingdom’s agriculture industry.
He described several progressive measures relating to trade and investment facilitation which were introduced at the 19th government-private sector forum, held on November 13.
He explained that the forum aimed to resolve challenges facing businesses, while attracting and promoting investment at home and abroad.
Yang Saing Koma, secretary of state at the Ministry of Agriculture, Forestry and Fisheries, attended the Vietnam-Hau Giang International Rice Festival 2023, where he held talks with one of Vietnam’s deputy prime ministers. The festival was also attended by the agriculture ministers of Nepal, Venezuela and Vietnam, as well as representatives from embassies and international organisations.
“We discussed the importance of sharing Cambodia’s experiences relating to the milled rice sector with these countries,” said Saing Koma on December 13.
During his two-day visit, Manet ratified two memorandums of understanding (MoUs) between the governments of the two neighbouring countries. Both nations are committed to continuing to strengthen cooperation in all sectors, particularly in terms of the economy and trade. Vietnam remains a key trading partner of Cambodia.
Lim Heng, vice-president of the Cambodia Chamber of Commerce (CCC), noted on December 13 that Vietnam is an indispensable trading partner of Cambodia, as it purchases large amounts of raw materials each year.
He added that the two countries have a long-standing close relationship, especially in terms of trade and investment.
“The relationship between the two countries continues to grow stronger. They have achieved remarkable totals of bilateral trade volume and direct investment growth from Vietnam to Cambodia,” he said.
“At the Cambodia-Vietnam Trade and Investment Promotion Forum on December 12, we encouraged Vietnamese investors to look for opportunities in sectors such as agriculture, tourism, infrastructure, technology and training. Cambodia has many policies that incentivise investment, as well as some big markets which are conducive to investment,” he added.