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Home  >>   Daily News  >>   Cambodia  News  >>   Investment  >>   More opportunity for foreign investment in Cambodia
NEWS UPDATES 18 September 2010

More opportunity for foreign investment in Cambodia

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Cambodia has increasing opportunities to draw on foreign investment as it sits in an advantageous position in the China-ASEAN Free Trade Agreement, according to many at the Cambodia Investment and Business Fair 2010.

Malaysia's K-konsultgroup Chief Executive Officer LL Koong said increased investment could help Cambodia boost its share in international markets with the temporary advantages granted by C-AFTA, which went into effect on January 1.

Cambodia, along with fellow transitional economies in Laos, Vietnam and Myanmar, has been given an extended deadline of 2015 to lower trade barriers on the vast majority of imports.

"Five years is precious time for Cambodia to expand its wings," said Koong, who is also chairman of Phnom Penh's Cambodia Investment and Business Development committee.

The exhibition, held at the Diamond Island Convention Centre, was one example of ways the Kingdom could look to maximise its advantage in the situation, he said.

"The exhibition will help investors to come in and catch up, and to capitalise on opportunities for bilateral investment - either you can invest in Cambodia, or [export from Cambodia]," he said.

"This is very important for public and private joint ventures in Cambodia, where the next five years could be expansion years," he said.

Malaysia-based Juara Steel Berhad Executive Director Yeow Ho Lam said at the exhibition yesterday that it was his firm's first time looking to Cambodia for business opportunities.

"We want business here and want to cooperate with a Cambodian partner, to see whether we can do business here," he said.

The firm's specialty is road construction, and it has partners in Thailand, Indonesia, Myanmar and the Philippines, he said.

"Business opportunity is still here in Cambodia because it is a new market and our product is still new to locals; that's what's making us jump in right now," he said. "Hopefully, we are not too late."

Firms specialising in areas such as real estate, banking and IT are attending the three-day business fair ending today. Representatives from at least five countries - Malaysia, Vietnam, Singapore, China and South Korea - are in attendance.

The workers said they had experienced violence, poor working and living conditions, and illegal detention.

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ASEAN INDICES
September 1, 2010
Market
Indices
Change

IDX

3,120.02
38.14
KLCI 
1,426.56 4.07
PSEi*    3,566.23 7.56
SGX 7.50
-0.02
SET 918.76
5.57
Source : Relevant bourses
Note   : 
*  31 August 2010
CURRENCY EXCHANGE
September 1,2010
Currency US$
Euro
Singapore $ 

1.32 1.68
Thai Baht * 
  31.44

39.90

Malaysia Ringgit
  3.13
3.98
Indonesia Rupiah  
  9,079.00
11,513.99
Philippines Peso
  45.31

57.46

Source:Relevant central banks
Note   : *
  31 August 2010
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   Asean Tourism Contacts
 
   

BRUNEI
Tourism Development Division
Ministry of Industry and Primary Resources
Jln. Menteri Besar, Bandar Seri Begawan, Brunei Darussalam
Tel. (673-2) 382822 Fax. (673-2) 382824
Email: bruneitourism@brunet.bn
Website: http://www.bruneitourism.travel/

CAMBODIA
Ministry of Tourism
3, Preah Monivong Blvd, Phnom Penh, Cambodia
Tel. (855-23) 213911 Fax. (855-23) 426107/217503
Email: dgpro@camnet.com.kh
Website: http://www.tourismcambodia.com/

INDONESIA
Ministry of Culture and Tourism
Jl. Medan Merdeka Barat 17, Jakarta 10110, Indonesia
Tel. (62-21)3838157 Fax. (62-21) 3849715
Website:
http://www.budpar.go.id
http://www.my-indonesia.info

LAOS
National Tourism Authority of Lao P.D.R.
Lane Xang Avenue, P.O. Box 3556, Vientiane, Lao P.D.R.
Tel. (856-21) 212248 Fax. (856-21) 212769/2127910
Website: http://www.tourismlaos.gov.la/

MALAYSIA
Ministry of Tourism
Menara Dato' Onn
Putra World Trade Center, 50480, Kuala Lumpur, Malaysia
Tel. (603) 2693 5188 Fax. (603) 269 0207/2693 0884
Email: tourism@tourism.gov.my
Website: http://www.tourism.gov.my

MYANMAR
Ministry of Hotels and Tourism
No. 77-91, Sule Pagoda Road, Yangon, Myanmar
Tel. (95-1) 285689 Fax. (95-1) 289588/254417
Email: dht.mht@myanmar.com.mm / mtt.mht@mptmail.net.mm
Website:
http://www.myanmar-tourism.com/
http://www.hotel-tourism.gov.mm
http://www.myanmar.com/Ministry/Hotel-Tour
http://www.myanmars.net/mtt
http://www.myanmartourismboard.com/

PHILIPPINES
Department of Tourism
DOT Building, T.M. Kalaw Street, Agrifina Circle, Rizal Park
Manila 10004, Philippines
Tel. (632) 523 8411 Fax. (632) 521 7374
Email: deptour@info.com.ph
Website: http://www.wowphilippines.com.ph/

SINGAPORE
Singapore Tourism Board
Tourism Court, 1 Orchard Spring Lane, Singapore 247729
Tel. (65) 736 6622 Fax. (65) 736 9423
Email: stb_sog@stb.gov.sg
Website: http://www.visitsingapore.com/

THAILAND
Tourism Authority of Thailand
1600 New Phetchaburi Road
Makkasan, Ratchathewi, Bangkok 10400, Thailand
Tel. (662) 250 5500 begin_of_the_skype_highlighting              (662) 250 5500      end_of_the_skype_highlighting Fax. (662) 253 7437
Email: center@tat.or.th
Website: http://www.tourismthailand.org

VIETNAM
Vietnam National Administration of Tourism
80 Quan Su Street, Hanoi, Viet Nam
Tel. (84-4) 822 8744 Fax. (84-4) 942 4115
Email: binhvnat@hn.vnn.vn
Website: http://www.vietnamtourism.com

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