Over US$32 Million Invested to Grow Banana for Exports
AKP Phnom Penh, August 23, 2018 —
A Cambodian-Chinese joint venture is investing more than US$32 million to grow yellow Cavendish banana in Cambodia’s southern Kampot province.
Registered as Longmate Agriculture, it is Cambodia’s largest banana grower by far, targeting mainly to export the fruit to international markets, especially China.
Chairman of the group’s advisory board Oknha Phe Hok Chhuon told local reporters that he and other Cambodian shareholders strongly believe in the technical skill and experience of their Chinese counterpart who is also running similar farming in the Philippines.
Thanks to its most appropriate weather condition, Chhouk district of Kampot has been identified for the initial farming of the world’s most eaten banana with an area of 1,000 hectare land surface.
Some 300 workers of Longmate Agriculture are optimistic of the future of both their own and their company.
The investment, as underlined by Oknha Phe Hok Chhuon, does not only promote Cambodia’s agriculture and export, but also creates jobs with decent wages among Cambodians.
The experienced businessperson also ambitiously looks ahead to set his banana growing group a role-model standard across the region.
With banana market opportunity opened by China for Cambodia, the Royal Government is working hard to systematise technical assistance for potential growers to export the fruits.
Cambodia currently has three large firms growing bananas on 5,000 hectares of land in Rattanakiri, Kratie and Kampot provinces, and they produce about 14,000 tons of the fruit annually.
By So Sophavy