Chhuon Dara lauds corporate policies at business match

SECRETARY of state at the Ministry of Commerce Chhuon Dara credited Cambodia’s emergence as an attractive destination for import-export firms to its large number of international trade agreements and geographical location at the heart of Asean.

Dara made the assessment at a “Business Matching” event to promote investment in Cambodia attended by 57 entrepreneurs from the southern Chinese city of Guangxi and potential investors from Thailand, Indonesia and Cambodia.

The meetings are aimed at promoting investment opportunities in the Kingdom, creating business partnerships and promoting Cambodian products.

“Business Matching events provide opportunities for Cambodian businessmen to meet Chinese, Thai and Indonesian businessmen to explore possibilities and share information.

“Cambodia is a premier destination for businesses to invest in and export their products to international markets as Cambodia is a signatory to trade agreements with many countries.

“Cambodia and other Asean member states negotiated the Regional Comprehensive Economic Partnership in 2012 with six other markets and free trade agreements with other partners,” he said.

The secretary of state also reminded attendees that Cambodian businesses enjoyed preferential tariffs from the EU, Japan, Korea, Canada and the US, as well as many tax incentives, while the Kingdom allowed foreign investors to have full ownership of their enterprises.

Cambodian Chamber of Commerce vice-president Lim Heng, who also attended the event, said on Tuesday that it had been organised to bolster cooperation in the business community and attract foreign investors to Cambodia.

“All foreign investors who wish to invest in a country want to meet with local businessmen first to discuss and understand the investment situation.

“We [ t h e C a mb o d i a n Chamber of Commerce] have a l s o held s i mi l a r for u ms abroad. When senior leaders v isit ot her countries, representatives of the Cambodian C h a mb e r o f C o m mer c e attend or hold business meetings t here too,” he said.

According to data from the National Bank of Cambodia, the Kingdom’s total exports in the first half of this year reached some $ 6.8 billion – 28 per cent of which was to the US, 26.6 to Europe and 6.6 per cent to the UK.

Total imports, meanwhile, totalled $10.5 billion over the same period, with some 46 per cent from China, 15.6 per cent from Thailand, 13.2 per cent from Vietnam and 4.5 per cent from Japan.