Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Singapore firms aim to invest in farming

Singapore firms aim to invest in farming

Singapore firms aim to invest in farming

THE director of the Cambodian Chamber of Commerce (CCC) said Wednesday that at least six Singaporean companies want to start joint ventures with Cambodian partners to invest in the Kingdom's underdeveloped agricultural sector.

"They want to invest in the sector because they believe that in the near future, they will face a food shortage, so they want to come here to process agricultural products and export them back to their home country and to supply the global market," said Nguon Meng Tech, the director of CCC.

He added that representatives from the Singaporean companies met him on Wednesday, and that they plan to meet with Cambodian investors in the near future.

"They are interested in the sector because we have plenty of farmland. We have political stability and economic growth, and they specialise in technology, so they can easily work with the sector," Nguon Meng Tech said.

Mong Reththy, one of Cambodia's most successful agricultural tycoons, said he would be meeting with the Singaporean business representatives, and that the partnership could potentially help both countries avoid a future food crisis.

"I am ready to cooperate with them because we have a lot of farmland with enriched soil for rice, corn, rubber or cassava," Mong Reththy said. "Presently, we should worry about the food crisis.

"We have a lot of farmland. The problems we are confronting now have to do with capital and technology, so when those [investors] want to cooperate with us, we can improve and increase our output," he said.

Mong Reththy added that presently his company only exports palm oil to foreign countries because of a lack of capital and processing technology for other products.

The government said Wednesday that foreign investment remains a priority to aid the development of agriculture, the country's largest sector.

"We welcome all foreign investors to invest in the agriculture sector because most local people lack the necessary capital and processing technology to export their yield," said Thon Virak, deputy director of the foreign trade department at the Ministry of Commerce.


  • Professor beaten by mob in Phnom Penh after alleged hit-and-run

    Updated with new information: 6:44am, Tuesday March 13 2018 A university professor accused of a hit-and-run has been transported to Vietnam with serious head injuries after he was brutally beaten by a mob in Phnom Penh late Sunday afternoon. A video of the attack shows a group

  • American ‘fugitive’ arrested in Cambodia outside of US Embassy

    An American citizen was arrested on request by the US Embassy in Phnom Penh on Tuesday, according to Cambodian police. Major General Uk Hei Sela, chief of investigations at the Department of Immigration, identified the man as American Jan Sterling Hagen, and said he was

  • One Australian, one Cambodian killed in explosion at military base

    Updated: 5:20pm, Friday 16 March 2018 An Australian tourist and a Cambodian soldier were killed in an explosion on Thursday afternoon at an army base in Cambodia’s Kampong Speu province. The Australian, whom the government initially identified as a technical demining expert in his 40s, and

  • Australians protest Asean summit visit by PM Hun Sen

    Hundreds of protesters gathered in Sydney’s Hyde Park on Friday to protest against Cambodian strongman Hun Sen, who claimed to have been gifted millions of dollars by the Australian government ahead of a special Asean summit this weekend. An estimated 300 protesters, the majority of