Seoul (FN), May 18 – Cambodian Prime Minister Hun Manet encouraged Hyosung Group Ltd. to visit Cambodia to explore investment opportunities.

Samdech Thipadei received a courtesy call by Cho Hyun-sang, Vice Chairman of Hyosung Group, on 17 May 2024 in Seoul, South Korea.

Vice Chairman Cho Hyun-sang thanked Samdech Thipadei for taking the time to meet with him and his delegation and congratulated the premier on his successful visit to the Republic of Korea.

The vice chairman informed Samdech Thipadei about Hyosung Group Ltd.'s business activities, focusing on the production of electronics, communications equipment, the development of 5G systems, and the tire industry. He mentioned that the company supplies raw materials for car tire production to companies in Cambodia and provides supplies for the military sector.

Vice Chairman Cho Hyun-sang hoped to learn more about the potential and policies of the Royal Government of Cambodia to support and encourage investment.

The vice chairman praised Samdech Thipadei for the success of the company's business activities and expressed satisfaction with the collaboration between Korean and Cambodian companies. He hoped that Hyosung Group Ltd. will explore further investment opportunities in other sectors in Cambodia.

For his part, Samdech Thipadei Hun Manet confirmed that during his official visit to the Republic of Korea, he initiated two new initiatives to support Korean investment in Cambodia including the establishment of a regular consultation mechanism between the Korean Business Association in Cambodia and the Royal Government of Cambodia, and the establishment of an exclusive special economic zone for Korean companies and investors. He also outlined several strategies and mechanisms to support Cambodia's investment climate, maintain regional and global competitiveness, and organise regular government-private sector forums to address challenges. Investors and business people will be introduced to the new investment law, which provides additional incentives for investment in Cambodia.

Regarding the Royal Government's policy, Samdech Thipadei underlined the launch of the Plus-One Strategy to attract investment and promote the supply chain of spare parts or semi-finished products to large factories abroad. He also underscored connecting Cambodia to the region through the construction of infrastructure such as international airports, expressways, and the use of clean energy.

Premier Hun Manet encouraged Hyosung Group Ltd. to visit Cambodia to explore more investment opportunities.

Hyosung Group is a global group established in 1967 in Korea and actively engaged in various business sectors in synthetic fibres, textiles, chemicals, advanced industrial materials, heavy industry, energy, information technology, trading, finance, auto retail and construction.
=FRESH NEWS