In the morning of February 15, 2017, H.E. PAN Sorasak, Minister of Commerce welcomed a delegation of Thai businesses who came to introduce themselves and to explore potential business and investment opportunities in Cambodia.
The Thai delegation was led by Mr. Chanitr Charnchainarong, Chairman of Thailand-Cambodia Business Council. The delegation consisted of 32 small and medium enterprises (SMEs) specializing in various business segments including beauty and cosmetic, spa products, food processing, health and supplements and industrial products.
To begin with H.E. Pan Sorasak, Minister of Commerce informed the delegation of bilateral trade volume between Cambodia and Thailand which is amounting to $5.2 billion. This represents substantial trading activity between the two countries. The meeting also explained about Cambodia’s investment climate, business opportunities, and Cambodia’s competitive advantages in the region.
With a pro-business Government, Cambodia welcomed all investors to do business in Cambodia. To attract investors, Cambodia has one of the most open market economy in the world with many incentives including tax holiday, duty exemption for import of machinery and material, full foreign ownership, and more.
In addition, the establishment of strategically located Special Economic Zones (SEZs) not just provide added incentive, but provide for ease of access to the economic corridors and efficient trade facilitation mechanism. In term of competitive advantages, Cambodia’s location at the center of ASEAN allows goods to be transported anywhere in the region in a short period of time. Moreover, preferential treatments that Cambodia received from European Union, United States and others, provide investors with a ready-made markets in which to venture and take advantage of.
The Thai delegation appreciate the Minister’s comments and advice. They informed that they are using this trip to learn about business in Cambodia and to look for potential partners in conducting business and investment. Responding to this,
Excellency Minister was pleased that there are many interests in Cambodia. He suggested that business matching should be made to introduce Thai and Cambodian businesses to one another and proposed that close cooperation between the Ministry of Commerce, Thai Chamber of Commerce and Cambodia Chamber of Commerce is maintained and increase interaction with one another on a regular basis. Ministry of Commerce was also pleased to appoint a focal point for any inquiry and support to Thai businesses.