Logo of Phnom Penh Post newspaper Phnom Penh Post - Minister calls for Thais to invest

Minister calls for Thais to invest

Content image - Phnom Penh Post
A crane vehicle lifts a container at the Phnom Penh Autonomous Port’s new terminal in Kien Svay district’s Banteay Dek commune, Kandal province. Hong Menea

Minister calls for Thais to invest

Minister of Commerce Pan Sorasak on Tuesday called for Thai investors to tap the vast potential and business opportunities in the country to boost two-way trade to $15 billion in 2020.

Speaking at a seminar entitled 2020s Decade of Challenging Economic and Trade Growth between Thailand and Cambodia: In Depth Views from Experts’ Perspectives in Bangkok on Tuesday, Sorasak said Cambodia and Thailand have strengthened and maintained strong relations over the past 70 years.

To achieve the ambitious target of $15 billion in bilateral trade this year, both governments have implemented strategies to boost trade, cross-border development and investment.

Last year, Cambodia and Thailand reconnected railroad networks after more than 40 years of non-operation.

“I would like to encourage Thai investors in Cambodia to make use of business potential to the fullest extent.

“Also, I wish to encourage and welcome more potential Thai investors to Cambodia so that we can strengthen our trade relations to achieve the target of our prime ministers’ pledge of $15 billion bilateral trade in 2020,” he said.

Sorasak said trade between the two nations increased from $5.6 billion in 2015 to $9 billion last year.

Thailand has been one of the largest foreign direct investors in Cambodia for many years, he said.

Thai franchise businesses have seen promise in Cambodia, including cafes, restaurants and bakeries, as they respond to the high demands of Cambodian consumers, expatriates and foreign tourists, he said.

“The increase in Thai investment in Cambodia is the result of the Cambodian government’s proactive and pro-business policies.

“Cambodia is open for foreign investors to hold a 100 per cent stake in business and Cambodia offers a tax holiday of up to nine years as incentives for foreign investors who apply through the Council for the Development of Cambodia.

“Furthermore, we have no regulation to limit capital outflows. These are the huge benefits for foreign investors,” he said.

Cambodia Chamber of Commerce vice-president Lim Heng told The Post last week that exports to Thailand mostly comprised of agricultural products such as rice, corn, soybean, cassava, cashew nuts and mangoes.

Cambodia mainly imports machinery, electronic equipment, oil, construction materials, cosmetics and home appliances from its neighbour.

Thailand is among the top nine countries that expanded their investments in Cambodia between 1994 and the end of 2017’s third quarter, with an investment value of $967.89 million, Council for the Development of Cambodia data shows.

Thailand is to loan Cambodia, Myanmar and Laos some $281.6 million this year for the construction of four transnational roads under the Asean Connectivity Initiative, the Bangkok Post reported last month.


  • Restrictions re-imposed in capital as Covid cases surge

    Amid the ongoing community outbreak of Covid-19, which has shown no sign of subsiding with 750 infections and 10 deaths reported on June 2 alone, the Phnom Penh Municipal Administration has decided to re-impose the suspension of all occupations and business activities deemed as posing high risk of

  • Phnom Penh-Sihanoukville expressway 51% complete

    The construction of the nearly $2 billion Phnom Penh-Sihanoukville Expressway is 51.35 per cent complete and is expected to be finished in 2023, according to Ministry of Public Works and Transport secretary of state Vasim Sorya. Invested in by Cambodian PPSHV Expressway Co Ltd, the first expressway in

  • First 7-Eleven store to open mid-June, ambassador says

    Thai retail conglomerate CP All Pcl will open Cambodia’s first 7-Eleven convenience store in mid-June, Cambodian ambassador to Thailand Ouk Sorphorn told The Post on June 1. The Bangkok-listed 7-Eleven franchise operator, the retail arm of Charoen Pokphand Group Co Ltd, granted CP All (Cambodia)

  • With herd immunity likely in 2022, is Cambodia ready to reopen for tourism?

    The government aims to inoculate 80 per cent of the target population by June next year, giving it a head start among regional peers to reboot the sector but first, it has to do a few things to up its game A sign on a glass

  • US embassy guard gets Covid despite two doses of Pfizer jab

    The Covid-19 tracking commission on June 4 said a security guard at the US embassy in Phnom Penh had contracted the novel coronavirus, despite having received a second dose of the Pfizer-BioNTech shot two weeks ago. Embassy spokesperson Chad Roedemeier confirmed the SARS-CoV-2 infection to The

  • 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