Cambodia Calls for Investment in Industrial Value Chain Development at SEZs
AKP Phnom Penh, October 02, 2018 —
Visiting Thai business delegation has been encouraged to consider investing in creating small and medium enterprises at Special Economic Zones (SEZs) across Cambodia to diversify industrial value chain and create job opportunities for the locals.
Cambodian Minister of Commerce H.E. Pan Sorasak made the encouragement while receiving the Thai delegation led by Mr. Chanitr Charnchainarong, Chairman of Thailand-Cambodia Business Council, in Phnom Penh yesterday, according to the ministry’s news release.
H.E. Minister informed his guests of Cambodian prioritised products and the favorable conditions for investment at SEZs like 100 percent foreign ownership and Generalised System Preferences (GSP) for export to the third countries.
H.E. Pan Sorasak also took the opportunity to request the Thai side to speed up the signing of memorandum of understanding on tax exemption at common border to facilitate trade exchange between both nations, in order to achieve the target of US$15 billion two-way trade by 2020.
Mr. Chanitr Charnchainarong thanked H.E. Minister for the key information and good recommendations to boost the economic and trade cooperation between Cambodia and Thailand. He pledged to disseminate the information to Thai businessmen and to bring Cambodia’s request to the Thai government.
During the sixth meeting of Joint Trade Committee (6th JTC) in Phnom Penh early this year, Cambodia and Thailand agreed to strengthen trade facilitation, open more border gates, and organise more business and investment forums. Both sides also signed two important documents on strategies to boost economic cooperation between border provinces and on cooperation in trade promotion.
By So Sophavy