Kuala Lumpur (FN), Feb. 28 – Cambodian Prime Minister Hun Manet stated that Malaysia has continuously emerged as a key player in Cambodia's economic landscape. In 2023, Malaysia ranked fourth among Cambodia’s top investors.
The premier spoke on 27 February 2024 during the Cambodia-Malaysia Business Forum.
Samdech Thipadei underlined that Malaysian investment thrives in Cambodia with diverse sectors, including manufacturing, retail, finance, telecommunication, hospitality, infrastructure and energy.
Samdech Thipadei highlighted some successful stories that stand out include as follow:
“1. Maybank Cambodia. Maybank Group was established in December 1993, right after our first elections. With opening its first branch in Phnom Penh. It quickly became a preferred financial partner for Malaysian and Singaporean corporations investing in Cambodia's infrastructure and service sectors, with a comprehensive suits of banking products. Maybank Cambodia now empowers a broader clientele, including local businesses, SMEs and commercial and corporate sectors.
2. Cambodia Public Bank, established in 1992, even before election, is a subsidiary on Malaysia's Public Bank Group. It is one of the largest foreign-owned banks in Cambodia, with USD 2.1 billion in asset and a 31-year record profitability. It excels in consumer banking and SMEs segment, offering a full range of financial solutions including insurance and broker services.
3. Leader Energy Group is an independent power producer, primarily engaged in the development, ownership and O&M of power asset and projects. Their commitment to Cambodia began in 1994, with a concession for a 37.1-megawatt diesel, five power plant in Phnom Penh operational since 1997. Leader energy group's operations in 2009 went and secured a concession to build Cambodia's first coal-fired power plant, 100 megawatts, followed by a 25-year BOT concession for a 110-kilometers, 230-kilowatt transmission line from Phnom Penh to Kampong Cham. Their expansion continued in 2016, with second coal-fired power plant concession, 135 megawatts in Sihanoukville. Most recently, in 2023, the group acquired the concession for a 125-kilometer transmission system from Kampong Cham to Kratie.
4. Muhibbah Engineering Cambodia is a subsidiary of Muhibbah Engineering (MVHD) a publicly listed Malaysian construction company. The company's notable investment includes a 30 per cent stake in Cambodia Airport, operated in partnership with France Vinci Group.”
Samdech Thipadei continued that the successful stories of foreign investments and businesses are testament to the reality in Cambodia that speak to volumes.
=FRESH NEWS
