In a significant engagement aimed at fostering investment opportunities, Cambodian Prime Minister Hun Manet reached out to the Cambodia Chamber of Commerce Representative Office in Melbourne, Australia. He highlighted the promising business opportunities in Cambodia and called on the office to consider investments in critical sectors including agriculture, agro-industry, renewable energy, digital technology, education, and health.
This call to action was made during a courtesy meeting held on Thursday morning, July 11, at the Peace Palace, where Tan Sithy, President of the Melbourne Cambodia Chamber of Commerce Representative Office, was received by the premier.
The meeting served as a platform for dialogue on enhancing Cambodia-Australia business and trade relations, inviting cooperation with various Cambodian ministries and institutions. Tan Sithy briefed the Prime Minister on the development and establishment process of a representative office in Melbourne, which was coordinated closely with the Cambodian Chamber of Commerce and the Ministry of Commerce to align with Cambodian rules and regulations. Moreover, the discussion touched upon the office’s leadership election procedures and future action plans.
Sithy expressed his intention of exploring Cambodia’s market potentials to promote investment between the private sectors of both nations, especially in areas like food processing and agriculture, reflecting the Royal Government’s strategy to attract foreign direct investment.
Prime Minister Hun Manet expressed his approval of Sithy’s initiatives and congratulated him on his new role. He noted that establishing representative offices in cities like Melbourne and Sydney is crucial for enhancing governmental and commercial connections between Cambodia and Australia, facilitating trade and investment ties.
Furthermore, the Prime Minister outlined the Royal Government’s commitment to crafting a conducive business environment, highlighting policy initiatives aimed at ensuring competitiveness. These include revamping the investment laws and introducing flexible mechanisms to support investors and the private sector’s demands in Cambodia.
He emphasized the government views the private sector as a significant contributor to the nation’s socio-economic development. Hun Manet shared insights into Cambodia’s economic strategy focused on growth, poverty reduction, and the betterment of citizens’ livelihoods.
Additionally, the Prime Minister pointed out Cambodia’s advantageous position in the international market facilitated by various free trade agreements, including those with Korea, the UAE, ASEAN, and the Regional Comprehensive Economic Partnership Agreement (RCEP). These agreements, he stated, opened vast opportunities for investment.
Hun Manet reassured continued stability, safety, and security for investors in Cambodia and stressed the importance of skill training in industries like automotive, electronics, digital, and technology. Aligning with global growth trends, such training is deemed crucial for equipping the current and future workforce to meet market demands.
Source: Fresh News
