Logo of Phnom Penh Post newspaper Phnom Penh Post - Investors eye Meoun Chey border

Investors eye Meoun Chey border

Investors eye Meoun Chey border

Chinese, Korean and local investors have shown interest in Meoun Chey border crossing in Prey Veng province’s Komchay Mear district between Cambodia and Vietnam, provincial officials said yesterday.

Komchay Mear district governor Prak Savann said the potential investors are looking for land in the area to develop garment and other types of factories.

Prak Savann said that since the border gate had been opened early last year, progress was slow owing to lack of infrastructure renovation, but because of road improvements on the Cambodian side of the border, Vietnam planned to begin building a bridge and improvements to their side of the area in the coming months.

Prey Veng provincial governor Ung Samy said that although the Meoun Chey gate throughput of goods was not as much as it could have been, it had indeed attracted the interest of local and foreign investors.

“Some investors have expressed interest in building casinos, factories and warehouses,” he said.

“Besides helping facilitate the throughput of goods and farming products, the border crossing will become a busy one for national and international visitors,” he said.

Nguon Meng Tech, general director of the Cambodia Chamber of Commerce, said the opening of the new border gate will bolster the economic growth by increasing bilateral trade and attracting more investors to the border area.

“When a number of investors come to the border area, people will have more jobs, and they won’t have to leave their homes for work,” he said.

Nguon Meng Tech said foreign investors continued to look at Cambodia, especially in the agricultural sector.

The bilateral trade between Cambodia and Vietnam in the first quarter of 2012 totalled $919.11 million, increasing 42.58 per cent compared to same period last year, which totalled $644.62 million according to the data from the Vietnamese Business Office.

To contact the reporter on this story: Sieam Bunthy at [email protected]

MOST VIEWED

  • Quarantine still a must for all arrivals, in next Covid chapter

    Since early May, an average of five to 10 Cambodian people have died from Covid-19 a day with many others testing positive amid the ongoing community outbreak. At the same time, however, hundreds of patients also recovered a day. The first Covid-19 case in Cambodia was

  • US wants 'full access' to Ream Naval Base

    On June 11, the US embassy's Defense Attaché Colonel Marcus M Ferrara visited Ream Nava Base in coordination with Cambodian officials following the recent approval of Prime minister Hun Sen to allay the concerns on Chinese military presence at the base as raised by US Deputy

  • First commercial gold mine online

    Australian miner Renaissance Minerals (Cambodia) Ltd on June 21 began the commercial operation of its $120 million Okvau Gold Project in the northeastern province of Mondulkiri, becoming the Kingdom’s first gold producer. Located in the Okvau area in southwestern Mondulkiri province’s Keo Seima district, the

  • Jab drive heading to 5 provinces

    The government is set to vaccinate more than 1.2 million people in five provinces after finishing with Phnom Penh and neighbouring Kandal in an ongoing campaign administered by the ministries of Health and National Defence. The five provinces are Preah Sihanouk, Kampong Speu, Takeo, Kampong Cham

  • New immigration bill targets illegal foreigners in Kingdom

    General Department of Immigration (GDI) officials are discussing revisions to the new draft law on immigration to prevent foreigners from entering Cambodia illegally and to supervise those living in the Kingdom more effectively. The revisions draw wide support among civil society organisations. GDI director-general Kirth

  • Transport minister requests free trial of Phnom Penh-Sihanoukville expressway

    The Ministry of Public Works and Transport held discussions with the company constructing the expressway from Phnom Penh to Preah Sihanouk province to allow drivers to test the road free of charge before an official toll is set. While inspecting the progress of its construction