With agricultural production on a steady growth trajectory, even in the face of Covid-19, Phnom Penh welcomes Indonesian businessmen to invest in the Cambodian agricultural market, in hopes of bolstering capacity in response to an ongoing surge in domestic and international demand.
Minister of Agriculture, Forestry and Fishery Veng Sakhon extended the invitation on November 26 during a meeting with Indonesian ambassador to Cambodia Sudirman Haseng.
Sakhon said the agricultural sector is recognised for its constant progress and ability to not only fulfil domestic demand but allow for more exports to the world market. He ascribed the upswing to the government’s meticulous attention and enhancements.
On behalf of “agricultural leaders with good collaboration between Cambodia and Indonesia”, the minister voiced hope that Indonesian investors would be keen to enter the Kingdom’s agriculture and agro-processing markets in the near future, or develop the associated value chains.
“The agricultural situation in Cambodia is evolving quickly, especially in the times of the Covid-19 pandemic,” he said. “We are looking forward to welcoming Indonesian private sector actors looking to invest in the agricultural sector.”
According to Sakhon, some of the agricultural products with the greatest market potential are milled rice, bananas, fresh and dry cassava, raw and processed cashew nuts, and fresh mango.
Citing the National Phytosanitary Database, the minister previously reported that the Kingdom shipped out 6,364,607.24 tonnes of agricultural products in January-October, up by 87.53 per cent year-on-year from 3,393,915.64 tonnes, valued at $4,071,571,098.37, to 68 countries and territories.
At the meeting, the ambassador vowed to make an effort to strengthen and further expand promotion to Indonesian investors of the potential opportunities offered by Cambodian agriculture.
Sudirman said he would encourage Jakarta to prepare a memorandum of understanding on agricultural collaboration between the two counties.
In September, Indonesia launched a trade office in Cambodia, aiming to strengthen and expand economic, trade and investment cooperation.
In January-August, the Kingdom’s exports to Indonesia reached $21 million, down by $3 million from the same period last year, and imports were to the tune of $402 million, declining by $50 million or 11 per cent year-on-year, according to the Ministry of Commerce.