Cambodia attracts UAE investment at Doing Business with Cambodia Forum

Cambodia attracts UAE investment at Doing Business with Cambodia Forum

Cambodia encouraged potential investors from the United Arab Emirates (UAE) to explore investment opportunities, emphasising its commitment to facilitating and supporting all business and investment activities in the country, at the “Doing Business with Cambodia” Forum held last Friday at the Hyatt Regency Phnom Penh Hotel.

The event was organised by Dubai Chambers, in partnership with the Ministry of Commerce, the Council for the Development of Cambodia, and the Cambodian Chamber of Commerce.

The event brought together senior leaders from both sides, Ms. Tekreth Kamrang, Secretary of State at the Ministry of Commerce, Neak Oknha Kith Meng, President of the CCC and Chair of ASEAN Business Advisory-Cambodia, Mr. Salem AL Shamsi, Executive Vice President of International Relations of the Dubai Chambers; and representatives of the Council for the Development of Cambodia, along with approximately 250 companies from Cambodia and the UAE.

Kamrang delivered a memorable speech at the forum, affirming the Ministry’s commitment to fully facilitating and supporting all business and investment activities in the Kingdom.

“The trade and investment opportunities are growing under the Cambodia-UAE Comprehensive Economic Partnership Agreement,” she said, encouraging UAE investors to explore fields such as agriculture, agro-processing, logistics, and tourism.

The event also included a B2B business meeting between Cambodian and Dubai companies to connect directly and find potential partners in high-growth sectors.

Neak Oknha Kith Meng, President of the Cambodia Chamber of Commerce, stressed the importance of the partnership between the two countries and highlighted that the Comprehensive Economic Partnership Agreement, which entered into force on Jan. 31, 2024, has played a key role in providing confidence and reducing the risks of large-scale investment.

“Investment in Cambodia is not only about the domestic market of 17 million people, but also about Cambodia being a key gateway to the 680 million consumer market in the entire ASEAN region, and Cambodia being a strategic manufacturing and logistics hub,” he said.

The CCC President encouraged businessmen from both countries to use this business forum to find partners and pursue practical projects, with the Cambodian Chamber of Commerce ready to provide support and help facilitate Dubai-based businesses’ entry into the Cambodian market.

Salem AL Shamsi, Executive Vice President of International Relations of the Dubai Chambers, highlighted that business relations between Cambodia and Dubai have been steadily growing, with bilateral trade between Cambodia and the UAE reaching nearly $400 million.

He stressed that for the Dubai business community, Cambodia has potential and opportunities in many sectors, including textiles, automobiles and electronics.

There are currently more than 30 Cambodian companies investing and operating in Dubai across real estate, wholesale and retail, and social services, according to CCC’s president.  

khmertimeskh