Korean investors eye Kampong Thom for cashew processing plant
Korean investors eye Kampong Thom for cashew processing plant
A group of Korean investors visited Kampong Thom province to evaluate potential sites for establishing a cashew processing and export factory. Their interest stems from the region’s agricultural potential and the Cambodian government’s pro-investment policies.
Suy Kokthean, Vice President of the Cashew Nut Association of Cambodia (CAC), confirmed to Khmer Times on Thursday that the investors inspected various locations related to cashew cultivation and potential sites for cashew nut collection centres. The purpose of the visit was to witness firsthand that efforts in the cashew sector are moving beyond discussions and into actionable steps.
Vongsey Vissoth, Permanent Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers, on Tuesday met with Lee Kee Yun, Director of Heungkuk Industry Company, and Professor Lee Changkeun of Chung-Ang University, Republic of Korea, to discuss collaborative initiatives. Representatives from the Kampong Thom Provincial Administration and CAC were also present during meeting, according to a statement issued by the Council of Ministers.
Lee said Heungkuk Industry, a leading construction materials manufacturer in South Korea, is seeking to diversify its investment portfolio. The company is particularly interested in cashew processing in Cambodia, given the country’s potential and supportive investment policies.
On this occasion, Vissoth extended his support to Heungkuk Industry’s investment project and reaffirmed the Royal Government’s commitment to fostering foreign investments. He emphasized the critical role such initiatives play in driving economic growth and creating jobs, especially in the agriculture and agro-industry sectors, which are top priorities for the government.
“Prime Minister Hun Manet has always promoted the production and processing of cashew nuts with the goal of transforming Cambodia into the world’s largest cashew nut exporter or cashew king,” the statement highlighted.
“The government, both at the national and sub-national levels, is ready to welcome new investment projects. The Council of Ministers is committed to cooperating to support investments and to strengthening ties between Cambodia and Korea,” the statement added.
Discussing the proposed cashew processing factory, Kokthean acknowledged that establishing such a facility requires extensive studies. However, he noted the Korean investors’ strong interest in Cambodia’s potential, which positions the country as an attractive investment destination.
He also assured that the CAC is ready to facilitate the establishment of a cashew processing factory.
“For me, who works directly in the cashew sector, I am very optimistic and hope that in the near future more investors from developed countries will invest in Cambodia’s cashew industry. In particular, our strength is that our production is sustainable and robust, meaning that there is no shortage of raw materials for them,” Kokthean emphasised.
According to the report of Cambodian Cashew Nut Association (CAC), from January to October 2024, Cambodia produced 840,000 tonnes of cashew nuts, marking a 26 percent increase compared to the previous year.
The provinces that cultivate most cashews include Kampong Thom, Kratie, Stung Treng, Siem Reap, Kampong Cham, Oddar Meanchey, Mondulkiri, Ratanakiri, Preah Vihear, Tbong Khmum and Kampong Chhnang.
