Economy: CCC's Melbourne office pledges to boost investment between Cambodia and Australia

The Cambodia Chamber of Commerce (CCC) Melbourne Office has pledged to promote investment between Cambodia and Australia.

Mr Tan Sith Tee, President of the CCC's Melbourne office, made the pledge during a courtesy meeting with Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia

He briefed Samdech Thipadei on his visit to Cambodia to learn more about Cambodia's business and investment potential and opportunities, as well as the Royal Government of Cambodia's (RGC) investment attraction policies.

The president of the CCC's Melbourne office is also keen to explore ways to promote and link investment links between the Cambodian and Australian private sectors, particularly in the food processing and agriculture sectors.

For his part, Samdech Thipadei Hun Manet extended a warm welcome to the delegation and congratulated Mr Tan Sith Tee on his election as President of the CCC's Melbourne office.

The CCC has established two representative offices in Australia, one in Melbourne and one in Sydney, to promote trade relations between the two countries.

Mr Tan Sith Tee emphasised that the two offices will strengthen communication between the business communities of both countries and the business-to-business (B2B) infrastructure, making communication easier and faster, which is particularly important as the nations push forward with the Regional Comprehensive Economic Partnership (RCEP).

Australia is interested in importing materials and food from Cambodia, with particular demand for textiles, electrical equipment and parts. Crops of interest to Australia include avocado, chilli, sesame, sweet potato, longan, mango, cashew, palm sugar and banana chips, all produced by the Cambodia Agricultural Value Chain Programme (CAVAC).

The Prime Minister spoke highly of the establishment of CCC's Melbourne office, stressing that it was a good development to establish government-to-government and business-to-business links between the two countries, which would facilitate business and investment activities and connect their investors.

The PM also highly valued the role of the private sector as a key partner and actor in contributing to Cambodia's socio-economic development. He highlighted policies to ensure a better business environment and Cambodia's competitiveness through the implementation of the investment law and the adoption of flexible mechanisms to support and respond to the needs of investors and the private sector in Cambodia.

The Prime Minister mentioned Cambodia's free trade agreements with many countries, both bilaterally and within ASEAN, as well as the Regional Comprehensive Economic Partnership (RCEP), which provide potential for investment in Cambodia. He reaffirmed the RGC's commitment to ensuring stability, security and safety for all investors in the country, as well as its commitment to training skills for industrial sectors such as automotive, electronics, digital and technology.

Samdech Thipadei Hun Manet also encouraged the CCC's Melbourne office to explore business and investment opportunities in potential sectors such as agriculture, agro-industry, renewable energy, digital, education and health, and to work with relevant Cambodian ministries and institutions to promote business and investment opportunities between Cambodia and Australia.