Cambodia Calls for Investment in Modernisation of Agriculture Sector
AKP Phnom Penh, September 28, 2018 —
Cambodian commerce minister has requested a delegation of American businessmen to invest in the modernisation of Cambodia’s agriculture sector in order to boost the export of Cambodian agricultural products to the maximum.
H.E. Pan Sorasak made the request during a working breakfast to disseminate business opportunities in the Cambodian agriculture sector, organised by the U.S. Embassy in cooperation with American Chamber of Commerce in Cambodia (AmCham Cambodia), at Rosewood Phnom Penh Hotel on Wednesday.
According to a news release of the Ministry of Commerce, the American side was led by U.S. Ambassador to Cambodia H.E. William A. Heidt, and Mr. Allen Dodgson Tan, Chairman of the Board of Governors of AmCham Cambodia.
On the occasion, H.E. Minister laid stress on the potential as well as challenges the Cambodian agriculture is facing, which requires investment from the private sector, on advantages of doing business in Cambodia, the Royal Government’s incentive policy for foreign investors, generalised system of preferences from which Cambodia is benefiting, and so on.
H.E. Pan Sorasak also encouraged the American businessmen to seek Cambodian partners to invest in agriculture sector through introducing new technologies for the development of production value chain and through creating training programmes to strengthen the capacity of private sector and enhance the development of agriculture sector in Cambodia.
In reply, H.E. William A. Heidt and Mr. Allen Dodgson Tan thanked H.E. Minister for sharing good information about investment opportunities in agriculture and agro-business. They pledged to coordinate business partnership of both countries’ private sector and study possibility to support the development of all stakeholders’ capacity and to help transforming Cambodia into a key producer and distributor of agricultural products in the region and the world.
Agriculture sector is a main pillar of Cambodian economic growth. In 2017, the sector contributed some 24.9 percent to GDP while industry and services, 32.9 and 42.4 percent, respectively.
By So Sophavy