Following the recent official visit of Prime Minister Hun Manet to Thailand, a significant surge of interest from the Thai business community has been noted, with plans to explore investment opportunities in Cambodia amounting to $1 billion across three major projects in early March.
The surge in interest was sparked during an economic forum held on February 16 in Bangkok, themed ‘Cambodia New Page – Business and Investment Opportunities’. The event was attended by Suon Sophal, the Deputy Secretary General of the Cambodian Investment Board (CIB) under the Council for the Development of Cambodia (CDC).
Sophal took the opportunity to outline Cambodia’s appealing investment landscape, highlighting the nation’s stable economic environment, investor-friendly policies, and commitment to fostering private sector growth. He also discussed the flexible incentives available to investors, tailored to align with the latest global economic trends, and the reliable services Cambodia offers to international investors.
This heightened interest from the Thai business sector follows the Cambodia-Thailand Business Forum on February 7, where Thai investors, inspired by discussions with Prime Minister Hun Manet, pledged to investigate potential projects in Cambodia. These projects, with a combined investment projection of about $1 billion, are set to be further examined by the Thai investors during their visit to Cambodia in early March.
The Bangkok forum delved into several critical areas: the political stability and economic expansion of Cambodia as conducive factors for business operations, as presented by Phan Phalla of the Ministry of Economy and Finance. The ‘Business Opportunity in Cambodia’ was another key topic, introduced by Sok Sopheak of the Ministry of Commerce. Additionally, the forum covered investment incentives and the favorable aspects of investing in Cambodia, complemented by a discussion on tax procedures and processes by Bun Neary of the General Department of Taxation, highlighting the legal framework for investment and taxation in Cambodia.
The forum, organized by the Royal Embassy of Cambodia to Thailand, attracted a broad spectrum of participants, including ambassadors, international organization representatives, and private sector leaders, totaling 230 high-level attendees.
During the earlier Cambodia-Thailand Business Forum, Kith Meng, President of the Cambodia Chamber of Commerce, emphasized the potential for collaborative investment opportunities within the Greater Mekong Subregion (GMS), noting its strategic importance for trade and transportation connectivity among the member countries. Lim Heng, Vice-President of the Chamber, also remarked on the GMS’s role as a vital economic corridor and its status as a leading agricultural export zone globally.
The primary aim of these discussions and forums is to enhance bilateral trade and investment between Cambodia and Thailand, fostering opportunities for major companies from both nations to consider cooperative investment ventures.
Source: Khmer Times
