Logo of Phnom Penh Post newspaper Phnom Penh Post - Thailand diplomats to gauge investment in northwest Cambodia

Thailand diplomats to gauge investment in northwest Cambodia

Content image - Phnom Penh Post
Foreign Thai-based diplomatic corps delegation visit Angkor Wat temple in the past. ROYAL EMBASSY OF CAMBODIA IN BANGKOK

Thailand diplomats to gauge investment in northwest Cambodia

The foreign ministry and Cambodian embassy in Bangkok are set to conduct a second study visit, for 17 foreign Thai-based diplomatic corps, from September 1-4 in neighbouring Siem Reap and Banteay Meanchey provinces to promote the Kingdom’s Economic Diplomacy vision and allow diplomats to get a feel for specific investment opportunities of interest to their respective countries.

According to a press statement from the embassy received by The Post on August 31, the visit will include seminars held with the participation of the foreign, commerce and tourism ministries, the Council for the Development of Cambodia, and other institutions.

The statement named the 17 countries represented as Argentina, Austria, Bangladesh, Brazil, Colombia, Egypt, Finland, Guatemala, Indonesia, Maldives, Mexico, Nepal, New Zealand, Poland, South Africa, South Korea and Thailand.

‘Close cooperation’

Cambodian ambassador to Thailand Ouk Sorphorn told The Post on August 31 that “with the close cooperation and strong support” from authorities of the two provinces, the diplomats will see the renowned temples of Angkor Archaeological Park.

“The participants will get to experience the city tour and community markets as well as enjoy Cambodian cultural and historical performances and visit places like Angkor Green Garden.

“They will also witness the connectivity between Cambodia and Thailand as well as visit a special economic zone [SEZ] in Banteay Meanchey province,” Sorphorn said. He identified the SEZ as the Poipet-O’Neang Industrial Estate in Orussey commune’s O’Neang of northern Poipet town.

“It’ll be a very important study visit that’ll allow the diplomats to understand more about our investment opportunities so that they’ll pass the word to investors back home for them to come and do businesses or invest in our country,” Sorphorn added.

Understanding trade ties

He emphasised that the diplomats will gain a better understanding of Cambodia’s new Law on Investment as well as the Kingdom’s bilateral, regional and broader free trade agreements.

Bilateral trade between Cambodia and Thailand rose 26.43 per cent to $2.781 billion in the first seven months of 2022 from a year ago, according to the General Department of Customs and Excise.

Exports to Thailand grew 38.03 per cent year-on-year to $559.010 million while imports climbed 23.82 per cent to $2.222 billion. Cambodia’s trade deficit with Thailand for the January-July period stood at $1.663 billion, expanding by 19.67 per cent on a yearly basis.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Moody’s sets outlook rating to ‘negative’ for Cambodia

    US global rating agency Moody’s Investors Service Inc on November 15 announced that it downgraded Cambodia’s outlook from “stable” to “negative” and maintained its B2 local and foreign currency issuer ratings. “The negative outlook reflects a deteriorating external position as illustrated by the severe

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Korean first lady paves way for ill boy’s surgery

    A 14-year-old boy with congenital heart disease who was lucky enough to meet with South Korean first lady Kim Keon-hee may get the chance of a lifetime and receive surgery and treatment at Asan Medical Center in Seoul, South Korea. After seeing his plight, many

  • Hun Sen’s Covid infection caused by ‘weakened antibody’ after summit

    Prime Minister Hun Sen said exhaustion from heavy workload before and during the recent ASEAN Summit may have led to him contracting Covid-19 due to his weakened immune system, while rejecting speculations that the infection was caused by leaders of some countries who did not

  • Kingdom’s rice crowned world’s No1

    Cambodia’s Phka Rumduol jasmine variety has been crowned the World’s Best Rice for the fifth time at the TRT (The Rice Trader) World Rice Conference in Phuket, Thailand on November 17, according to leaders of the Kingdom’s apex rice industry body. Phka Rumduol