China Brick and Tile Industry Association president Xu Yanming said some brick, tile and ceramic tile companies in China plan to invest in Cambodia to tap the currently booming construction and real-estate sectors.
A group of companies led by Xu raised investment plans during the meeting with Cambodia’s Minister of Industry and Handicraft Cham Prasidh at the ministry on last Thursday.
She said that there are many Chinese companies which are very experienced in the brick, tile and ceramic industry.
They see the potential of the industry in Cambodia while the country’s construction sector is booming. These companies are seeking support from the Cambodian government and other relevant institutions and ministries for their investment in the Kingdom.
Prasidh said Cambodia’s favourable investment laws and fast-developing construction sector provides great potential and opportunities for the companies to invest in the production of any materials to supply the sector.
He said although Cambodia has many companies and factories manufacturing brick, tile and ceramic products for the local market, the Kingdom still imports a lot every year to meet the sharp increase in demand.
“If members of the association want to invest in Cambodia to produce high-quality products, it will help to reduce imports [of building materials],” he said.
He encouraged the companies that wished to invest in the industry to apply for investment permits from the Council for Development of Cambodia to see if they were eligible for any tax incentives.
The government approved some $9.3 billion for capital investment in the construction sector this year. The figure is an 80 per cent jump compared to last year, with most of the growth coming from construction in Preah Sihanouk province, said the Ministry of Land Management, Urbanisation and Construction.