Logo of Phnom Penh Post newspaper Phnom Penh Post - Malaysia eyes investment

Malaysia eyes investment

Malaysia eyes investment

MALAYSIAN businesses are searching for opportunities in Cambodia following a high-profile visit of Prime Minister Najib Tun Razak last year, the Malaysian ambassador in Phnom Penh has said.

Following the premier’s May visit, during which deals worth a reported US$1 billion were signed, he has observed that many business trips have been made to Cambodia.

“We had five companies which were investing in garments, agricultures, and other industries, make deals worth US$163 million last year,” said ambassador Datuk pengiran Hj.Mohd Hussein bin Datuk Pg Hj.Mohd Tahir Nasruddin.

According to the Council for the Development of Cambodia, approved investment from Malaysia in 2010 was $167 million, making it the third biggest foreign investor in Cambodia.

Speaking at the Malaysian Embassy in Phnom Penh, executive advisor of the Associated Chinese Chambers of Commerce and Industry of Malaysia, Soong Siew Hoong, said that 29 entrepreneurs and investors were currently taking part in the four-day business trip to Cambodia.

One trip member, Datuk Eddy Chen Lok Loi, group managing director of Metro Kajang Holdings Berhad, said:  “Cambodia has developed a lot in housing and real-estate development. “

He added:  “We want to find 1,6000 hectares of land for palm oil plantation and processing. We have a big plantation in Malaysia and also have plantations in Indonesia with capital investment of about $200 million.”   ACCCIM signed a memorandum of understanding with the Federation of the Association for Small & Medium Enterprise in Cambodia yesterday morning “recognising the immense possibilities of promoting trade and investment for their respective business communities”.

MOST VIEWED

  • Cambodia unveils new quarantine regulations

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Cambodia sets new Covid-19 quarantine rules

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Hun Sen: Cambodia set to fully reopen

    Prime Minister Hun Sen concludes that the October 5-7 Pchum Ben public holiday, during which many people either flocked to their hometowns for family reunion or gathered at tourist attractions across the country, has not caused an outbreak of Covid-19. In a special address to

  • Will Evergrande change the way Chinese developers do business in Cambodia?

    China’s property sector policy has exposed the grim financial condition of real estate developers including those operating in Cambodia, which raises questions over the viability of their projects and business going forward The dark blue netting draping over one of Yuetai Group Co Ltd’

  • Cambodia voted ‘world’s friendliest country’ in Rough Guides reader poll

    Cambodia ranked number one among the “World’s Friendliest Countries”, according to a reader poll conducted by London-based international website “Rough Guides”. Taking submissions through Twitter and Facebook, “Rough Guides”, a well-known travel agency and publisher of guidebooks, said the Kingdom “was by far the

  • S’ville set to turn into ‘second Shenzhen’

    The Ministry of Economy and Finance has awarded a master plan consultancy contract to top Chinese institute for the development and transformation of Preah Sihanouk province into a “Model Multi-Purpose Special Economic Zone”, Southeast Asia’s next logistics and resort hub and innovation centre. The