Seoul (FN), Sep. 12 – Cambodian Senate President, Samdech Techo Hun Sen highlighted Cambodia's investment potential and explained the features of the Royal Government of Cambodia’s Plus-One strategy.
Samdech Techo Hun Sen received a courtesy call from Jung Jun-Ho, Managing Director of SK Securities on 11 September 2024, in Seoul, South Korea,
Jung Jun-Ho warmly welcomed Samdech Techo and his delegation, expressing that he was honoured to meet him in person, noting that Samdech Techo is a highly regarded Cambodian dignitary in Korea, especially since the re-establishment of diplomatic relations between the two countries.
Jung Jun-Ho also recalled that during Cambodian Prime Minister Hun Manet's recent visit to South Korea, several meetings were held with Korean companies to discuss energy production, manufacturing, agriculture, telecommunications, irrigation, and the development of a new airport in Cambodia. He added that SK Securities is an UN-accredited company with a green financial license and is currently leading a 50-hectare mangrove conservation project in Kampot province, as part of its commitment to environmental sustainability.
Jung Jun-Ho noted that SK Securities is particularly interested in Cambodia due to its strategic location and available human resources. He also sought Samdech Techo's support to facilitate his company's potential investments in the country.
For his part, Samdech Techo Hun Sen thanked SK Securities for its interest in Cambodia and expressed a desire for more Korean companies to invest in the country. He suggested that in order to make well-informed investments, SK Securities should thoroughly study Cambodia's investment environment and the specific goals it aims to achieve.
He added that Cambodia needs investment in processing industries due to its abundant raw materials, but limited processing capacity. Since the Korean market imports food products, he encouraged SK Securities to consider food processing. Furthermore, in the industrial sector, Cambodia seeks technological advancement from Korea.
In the securities sector, Samdech Techo acknowledged the need for further development, as progress remains limited. He also highlighted the favourable conditions for foreign investors in Cambodia, such as the ability to set up companies without requiring 100% local partners and the option to operate using foreign currencies without mandatory conversion to local currency.
On the occasion, Samdech Techo also underscored the importance of the Plus-One strategy. This initiative ensures production continuity when disruptions occur in neighbouring countries. He cited the experience of the Japanese company Minebea, which has invested in both Cambodia and its neighbours. When flooding disrupted production in the neighbouring country, Cambodia was able to step in and maintain the supply chain.
Samdech Techo Hun Sen concluded by recalling an agreement during Samdech Thipadei’s visit to Korea to establish the Korean Special Economic Zone in Cambodia. He expressed optimism that more Korean companies would invest in Cambodia in the future, ensuring a lasting presence that aligns with SK Securities' sustainability goals. He wished SK Securities success in its endeavours.
=FRESH NEWS
