In an interview with The Post, China Hong Kong and Macau Expatriate and Business Association of Cambodia chairman Yum Sui Sang reveals the close trade relationship between the organisation and Cambodia.
What are the main priority areas that your organisation will give preference in the coming months to enhance bilateral trade between Cambodia and Hong Kong?
Hong Kong and Cambodia have always been close allies in terms of trade and social involvement. CHKMEBA, being one of the 43 members of the Federation of Hong Kong Business Association Worldwide, has been a beneficiary and taken the lead from the Hong Kong Trade Development Council to act as a super-connector in Cambodia to continuously link business and communications between Cambodia and Hong Kong.
How do you rate the level of Cambodia-Hong Kong ties in terms of people-to-people relations and from a trade and investment perspective?
The Hong Kong Trade Development Council, Hong Kong Economic Trade Office and Hong Kong Productivity Council have all been organising regular business missions to Cambodia to introduce business and investments from Hong Kong.
In turn, Hong Kong has also invited the Cambodian government officials attending events like “Belt and Road Summit”, Hong Kong Forum and Asian Financial Forum to link more businesses and improve bilateral communications.
Speaking from an overall perspective, Cambodians are seen as friendly and eager to grow, with lots of potential as the majority of the working force is in their early 20s.
Bilateral trade is on an upward trajectory. What is driving the trade segment and is private sector participation contributing to the growth success?
The open investment environment and the US dollar-based economy has been the key driving force for the private sectors, not to mention the relaxation of foreign exchange controls which has also been making Cambodia one of the most attractive investment destinations.
How has the Hong Kong business community contributed to the Kingdom’s economy over the years?
Hong Kong businesses have a long history of investment in Cambodia, and we have been bringing our expertise to the Kingdom.
Hong Kong investors and businessmen have been involved in various sectors like manufacturing, finance, logistics, education, construction and design, real estate development, food and beverage, legal, pharmaceutical, IT, retail, management consulting, accountancy and auditing.
How can Cambodian businessmen gain from Hong Kong businesses in terms of the transfer of technology?
Hong Kong is a unique city where we always experience the best of “East meets the West” which is also very similar to the current Cambodian market. China has a significant presence in Cambodia and Cambodian business and people have long been enjoying the culture and beauty of both east and west.
Hong Kong businesses always have identical characteristics where it has a lot of experience in mixing and getting the best out of it. Plus, Hong Kong is the gateway between China and Hong Kong, especially when it comes to contract drafting, legal protection, and other professional expertise.