Logo of Phnom Penh Post newspaper Phnom Penh Post - Hun Sen to South Koreans: Invest in the Kingdom

Hun Sen to South Koreans: Invest in the Kingdom

Content image - Phnom Penh Post
Prime Minister Hun Sen on Tuesday met with South Korean President Moon Jae-in at the sidelines of the World Summit 2020 in Seoul. Hun Sen's Facebook page

Hun Sen to South Koreans: Invest in the Kingdom

Prime Minister Hun Sen on Tuesday urged South Koreans and companies there to consider investments in the Kingdom and to take advantage of several deals signed between the two nations, including the double tax avoidance (DTA) agreement reached last year.

The prime minister made the appeal during a bilateral meeting with South Korean President Moon Jae-in at the sidelines of the World Summit 2020 in Seoul.

Hun Sen highlighted the strong ties between Cambodia and South Korea after resuming diplomatic relations in 1996. Many agreements have been signed between the countries to promote trade and investment, he noted.

After undergoing a series of institutional reforms, Cambodia is now a much more enticing investment destination for South Koreans, Hun Sen said, adding that he hopes Moon will encourage Koreans to do business in the Kingdom.

The Cambodian prime minister said trade between the two nations is growing, but that he would like to see even more exports of Cambodian goods to South Korea.

“We are really happy with the agreement on double taxation avoidance signed late last year. This deal makes it easier for people to invest and do business in each country,” he said.

Hun Sen noted that Cambodia already started exporting fresh mango to the Korean market earlier this year.

Moon said the relationship between the countries is becoming stronger and that Korea will continue to support the development of Cambodia’s agriculture industry.

He agreed to encourage Koreans to seize opportunities in the Kingdom’s thriving economy.

According to data from the Council for the Development of Cambodia, South Korea is one of the biggest investors in the Kingdom.

From 1994 to 2018, the government approved 212 investment projects from South Korea.

MOST VIEWED

  • Purging Sihanoukville’s past with a new masterplan

    Amid illicit activities, haphazard development and abandoned projects, the coastal city of Sihanouk province needs a reset to move forward. A new masterplan might be the answer to shake off its seemingly mucky image to become the Shenzhen of the south Gun toting, shootouts, police

  • Chinese may be first in tourism revival: PM

    Cambodia's tourism industry is gearing up to roll out the red carpet for Chinese travellers after Prime Minister Hun Sen on September 17 indicated that the Kingdom could soon throw open its doors to international holidaymakers vaccinated against Covid-19 – starting with guests from China. Cambodia Chinese

  • Four-pillar approach in reopening of tourism: PM

    Cambodia is drawing up a four-strategy approach to promptly restore domestic and international tourism activity and put the industry on a transition pathway to a sustainable and inclusive model that is resistant to future crises, according to Prime Minister Hun Sen. The prime minister made

  • Airline says ready for green light to reopen international tourism

    Sky Angkor Airline Co Ltd on September 21 said it is ready to transport South Korean and Chinese tourists to the Kingdom once the Cambodian government makes good on plans to reopen its borders to vaccinated travellers. The Siem Reap-based airline made the remark during a

  • Tourism concerns laid bare

    To ensure the success of plans to reopen the tourism market for international visitors, Cambodia must pay utmost attention to two primary determinants – the ongoing paradigm shift in domestic tourism services towards the ‘new normal’, and the factors influencing choices of destinations among foreign holidaymakers.

  • Cambodian bride ‘badly treated, held captive’ by Chinese man seeks help

    A Cambodian woman who travelled to China to marry a Chinese man there was “badly treated” by her husband’s family and then had to be rescued and will be returned to Cambodia to ensure her safety. The rescue operation came about after the 25-year-old