H.E. Nguon Meng Tech, Director General of Cambodia Chamber of Commerce, had a meeting with a group of business delegates from the Federation of Engineering and Motor Part Association (Malaysia) led by Mr. Dato’ Jeffry Ong Eng Hong, on December 19, 2013 at the head office of CCC. The meeting is held to explore business environment and opportunity in Cambodia.
In the meeting, Mr. Dato’ Jeffry Ong Eng Hong expressed his interest in investment in Cambodia and said the numbers of Malaysian investors and companies are subsequently increased in Cambodia. This shows that Malaysia tends to focus on GMS market, particularly Cambodia. Mr. Dato’ Jeffry Ong Eng Hong would like to learn from CCC about Cambodia economy, labor, electricity, and land acquisition, especially automotive industries.
Responding to the delegates, H.E. Nguon Meng Tech briefed them about Cambodia economy and the roles of CCC in private sector development. Cambodia has plenty of young labor forces with a lower cost compared other countries in the region. In addition, the government policy is favorable for foreign investors and supportive to business. Investors can enjoy tax holidays and one-stop service. Electricity cost is said to be lower in coming years. Land acquisition can be done through concession or partnering with local investors. In this particular aspect, CCC could hook up the delegates with its members and assist in registration process and other necessary support. With respect to the automotive industry, the development in this sector is not really progressive, and there are not many investors and technicians in this field. Therefore, the presence of the delegates in Cambodia is very important. H.E. Nguon Meng Tech proposed to set up a workshop concerning this sector with the delegates in cooperation with stakeholders so as to promote the automotive industry.
Finally, H.E Nguon Meng extended his appreciation to the delegates for having interest in Cambodia business market. CCC is always welcome and gives assistance to all investors for future cooperation.