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.


  • Man Covid-19 positive after Thailand trip

    The Ministry of Health on Saturday reported the third Covid-19 case in less than two weeks, bringing the total to 125. The man, a 26-year-old from Tbong Khmum province's Tbong Khmum district, arrived at the O'Beichoan border checkpoint in Banteay Meanchey province on Thursday. He is

  • Kingdom's GDP growth to narrow -1% to -2.9%, World Bank says

    The World Bank expects further recoil on Cambodia’s gross domestic product (GDP) growth to between minus one per cent and minus 2.9 per cent for 2020 as its main growth drivers – tourism, manufacturing exports and construction – take a beating due to Covid-19, its latest economic update

  • Vietnam: Tougher sentences for child abusers

    Several National Assembly (NA) deputies in Vietnam are calling for tougher penalties to be handed down to child abusers. They hope stricter punishments will act as a strong deterrent to prevent offenders committing further offences in the future. Extreme measures such as chemical castration were

  • Central bank to shun small US banknotes

    The National Bank of Cambodia (NBC) is considering not accepting smaller denominated US dollar banknotes – $1, $2 and $5 – from banks and microfinance institutions (MFIs) which it said are flooding its stockpile as the demand for those notes is low. While some banking insiders welcomed the move as

  • PM lauded in Covid-19 fight

    World Health Organisation (WHO) director-general Tedros Adhanom Ghebreyesus sent a letter to Prime Minister Hun Sen thanking him for following the WHO’s guidance and commending Cambodia’s efforts in the fight against Covid-19. In his letter made public by the Ministry of Foreign Affairs

  • Workers return, hope for salaries

    More than 600 factory workers in the capital’s Chaom Chao commune in Por Sen Chey district returned to work after the factory’s owner promised to pay their salaries in instalments until the middle of next month. On Tuesday and Wednesday, more than 600 workers gathered