India’s main investments are in machinery, agriculture, energy, construction and mining, according to the embassy. Heng Chivoan
The Ministry of Commerce has called on local businesspeople, traders, service producers and entrepreneurs to participate in the “India-ASEAN Healthcare Expo and Summit” set to be held via video link from February 22-24 and seek business partners and investment opportunities in the giant Asian economy.
According to the February 2 ministerial announcement, the virtual event will bring together “all” policymakers, businesspeople and investors involved in the medical and healthcare industry.
The ministry said registration was being done online and is free of charge.
The Indian embassy in Phnom Penh said the expo is jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and the Indian Department of Commerce.
The event will connect the industry with stakeholders in the healthcare sector, prominent business leaders and top industrial executives, regulatory agencies and senior government officials from ASEAN countries, it said.
“The participation of companies in this expo will enable them to explore the business prospects and further strengthen economic and commercial partnership between the two countries in the healthcare, pharmaceuticals and medical devices” sector, the embassy added.
With his invitation in hand, Cambodia Chamber of Commerce (CCC) vice-president Lim Heng told The Post that he had requested the chamber’s members to take part in the trade fair.
“It is a great opportunity for the two countries’ private sectors to have chance to talk and share information on business and investment opportunities despites the event being conducted virtually.
“Our economic ties with India have not yet blossomed, but the government is now working on starting up negotiations for a free trade agreement with India, as a new market for our country.
“Many [CCC] members are also partnering with Indian companies on the import of medical supplies and meds here,” Heng said.
Trade volume between Cambodia and India reached $249.92 million in 2019, up 10.24 per cent compared to 2018’s $226.69 million, according to the embassy.
The Kingdom exported $82.09 million worth of goods to India in 2019, up 69.43 per cent from 2018, while imports amounted to $167.83 million, down 5.8 per cent.
India invested $19.8 million in Cambodia in 2016, the latest figures from the embassy show, making the South Asian country one of the top 10 foreign investors in Cambodia.
India’s main investments are in machinery, agriculture, energy, construction and mining, according to the embassy.
