A delegation of
Singaporean private sector executives visited Cambodia from May 4-7 to explore
trade and investment opportunities.
The 23-member delegation, whose
visit follows Cambodia's April 30 entry into ASEAN, was led by the Singapore
Trade Development Board (TDB) and the Singapore Confederation of Industries
(SCI) and represented business interests in areas such as telecommunications,
industrial machinery, architecturial services and import and export
During the delgation's stay in Cambodia they met with Minister
of Commerce Cham Prasidh, Siem Reap Governor Chap Nalivuth and Director-General
of the Cambodian Investment Board Soun Sothy.
The SCI also signed a
memorandum of Understanding with the Cambodian Chamber of Commerce and Industry
to enhance co-operation in facilitating business delegations as well as to
encourage information exchange.
According to the TDB, Singapore's
bilateral trade with Cambodia in 1998 amounted to S$595 million. Two-way trade
for the first three months of this year amounted to S$162 million, an increase
of nearly 25 percent compared to the same period last year.
The TDB says
that Singapore is the fourth largest investor in Cambodia after Malaysia, the US
and Taiwan, with total investments in Cambodia valued at US$200 million. These
include investments in property development, hotels, duty-free retailing,
restaurants, consumer electronics, paint and garments.