March 14, 2012

Cambodia lures more investments in food,textile industries: finance minister


PHNOM PENH, March 13 -- A number of investors have recently directed their investments in Cambodia in food processing and garment and textile industry, Minister of Economy and Finance Keat Chhon said here Tuesday.

Speaking at the launch of the results of the 2011 Economic Census, the minister said the country has huge potential for food processing because it has abundant raw materials, especially rice, for food processing for exports.

On the garment and textile industries, he said, Cambodia has been granted custom duty-free for exporting to European countries.

The country initiated four food processing projects with a total investment of 45 million U.S. dollars last year. These rice processing, beer and soft drinks projects were joint ventures with China, and Malaysia. Cambodida has set up 92 new garment factories with investment totaling 405 million dollars. Investors are from South Korea, China, China's Taiwan, Malaysia, Japan, the United States, Britain, Mauritius, and Samoa.


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