Cambodia, Korea strengthen trade, investment ties
Cambodia, Korea strengthen trade, investment ties
The Ministry of Commerce (MoC) and the Ministry of Trade, Industry and Energy of the Republic of Korea (MOTIE) Saturday jointly organised a business event to strengthen bilateral relations by fostering strategic trade partnerships and enhancing the Kingdom’s investment potential.
The ‘Cambodia-Korea Trade and Investment Forum’ was presided over by Cham Nimul, Minister of Commerce, in the presence of Marn-Ki Jeong, Chairman of Korea Industrial Alliance Forum (KIAF), Roh Keon-ki, Deputy Minister for Free Trade Agreement (FTA) Negotiations at MOTIE and Park Jung-Wook, Korean Ambassador to Cambodia.
During the event, Nimul said that the forum aimed to strengthen bilateral trade and investment by fostering strategic partnerships, promoting the Kingdom’s investment potential, and facilitating collaboration between the government and private sectors.
According to MoC announcement, the forum highlighted opportunities in priority sectors such as agriculture, manufacturing, technology, and digital trade, presenting an excellent opportunity to deepen the Cambodia-Korea partnership and explore trade and investment potential.
The initiative aims to improve market access, support sustainable development, and drive economic diversification, aligning in line with the guidance provided by Prime Minister Hun Manet during his courtesy call with the KIAF Chairman and the Korean delegation on December 13, the statement added.
In his remarks, Suon Sophal, Deputy Secretary General of the Cambodian Investment Board (CIB) of the Council for the Development of Cambodia (CDC) appreciated the Ministry of Commerce (MoC) and the working group for co-organising this important forum to promote cooperation between Cambodian and Korean investors.
He highlighted key reasons for investing in Cambodia, emphasising the Kingdom’s political and economic stability, strategic location, young and productive workforce, pro-business government, and investment-friendly regime, which includes facilitation services and incentive packages.
The event featured a series of presentations from both Korean and Cambodian representatives, covering diverse topics such as corporate value and national reform, tax incentives, the Cambodian FDI landscape, cooperation for training industrial personnel, Cambodia as a rising investment destination, and digital banking.
The ‘Cambodia-Korea Trade and Investment Forum’ is a side event of the ‘Cambodia Trade Expo 2024,’ held at the PH Grand Hall in Phnom Penh from December 13-16.
