SOUTH Korean garment industry investors are eager to leave behind higher labour costs in China, but plans to set up shop in the Kingdom are hindered by a lack of information, officials visiting Phnom Penh said yesterday.
Speaking on the sidelines of a fact-finding mission, Korea Federation of Textile Industries team manager Gue-bae Yeoum said investors need to know more about the government’s policies.
“Cambodia is well-placed to bring Korean investors to the country, with the higher labour costs in China,” he said.
“However, the Cambodian government does not promote the industry in Korea – that’s why many firms don’t know about the sector, and are too scared to invest here,” he said.
Ministry of Commerce Secretary of State Ok Boung said Cambodia had done much to promote the industry, and that information was already available.
“Investors can learn about the sector through their embassies,” he said.
Daehyun Textile manager Ian Cheong said he has been heavily involved with partners in Vietnam, but was still learning the ropes in Cambodia.
The Garment Manufacturers Association in Cambodia welcomed further investment, said Secretary General Ken Loo.