Singaporean investors welcome to explore opportunities in Cambodia’s burgeoning market: Hun Manet

IMMENSE opportunities exist in Cambodia for value-added growth in areas such as fintech, innovation, digital technology, green energy and agro-industry, and the kingdom stands with its arms open to Singapore investors.

Cambodian Prime Minister Hun Manet made this point in his keynote address at the Cambodia-Singapore Business Forum on Wednesday (Jun 19).

The forum, organised by the Cambodia Chamber of Commerce, the Singapore Business Federation (SBF), the Singapore Chamber of Commerce in Cambodia and the Singapore Alumni Association of Cambodia, was held in conjunction with his visit.

Hun Manet is on a two-day official visit to Singapore from Jun 18, at the invitation of Singapore’s Prime Minister Lawrence Wong.

Said the Cambodian leader: “Together, Cambodia and Singapore can drive innovation, build robust economic ties, and create a more prosperous future for our nation.”

He added: “Singapore’s technological expertise can be a catalyst for transforming our industry, creating mutually beneficial opportunities for both our nations.”

The two Asean member states will commemorate 60 years of diplomatic ties next year.

This is Hun Manet’s first visit to the Republic as his country’s prime minister, since he took office in August last year.

He noted: “Cambodia stands firm as one of the most attractive investing destinations in the Asean region by providing economic and political stability, strong government support, a young and dynamic workforce, a strategic location in the region and a wealth of natural resources.”

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Also present at the forum was Singapore’s Minister for Manpower and Second Minister for Trade and Industry Tan See Leng, who said that both countries will be advancing collaboration on the energy and sustainability fronts.

“We would be most happy to partner Cambodia on our region’s journey towards a clean and green economy,” added Dr Tan in his special remarks.

Dr Tan and Hun Manet also witnessed the exchange of a memorandum of understanding between the Cambodia Chamber of Commerce and SBF.

Both business chambers pledged to deepen cooperation between the two countries’ business communities, and SBF reaffirmed its commitment to help local companies scale their business in South-east Asian markets.

Said SBF’s chairman Lim Ming Yan in his welcome remarks: “The rapid urbanisation and industrial development over the past decade has provided many market opportunities for Singapore companies in Cambodia, not just in the capital of Phnom Penh, but (also) other regions such as Sihanoukville and Siem Reap.”

He urged Singapore companies to further explore innovative solutions to grow the digital connectivity between both nations.