[PHNOM PENH POST] - 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”.
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