CAMBODIA offers potential for Thai investors seeking to expand their portfolios at a time when their purchasing power is increasing, Lim Heng, vice president of the Cambodia Chamber of Commerce, has told The Nation after he met with Thailand’s Commerce Minister Sontirat Sontijirawong.
“Cambodia benefits from the most favourable regime designation available under the EU’s Generalised Scheme of Preferences, namely listing in the ‘Everything But Arms’ [EBA] scheme,” said Heng.
The EBA gives the 47 “least developed countries” duty-free access to the EU for exports of all products except arms and ammunition. Thai investors considering a new manufacturing base in Cambodia would also qualify to benefit from that country’s EBA listing, he said.
Heng added that Cambodia needed innovative technology to develop its industries, including agricultural processing, garments and service sector.
Added to this the country’s tax policy designed to attract foreign investors: tax incentives for up to nine years when investors apply to the Council for the Development of Cambodia.
Cambodian people like Thai products, especially consumer products, said Kim Chantha, vice president of Chip Mong Group, which imports Thai products and is also a joint venture partner with Siam City Cement Plc to build a cement plant in Cambodia.
Chanta is inviting Thai investors to expand their investments by producing consumer products in Cambodia.
Nhay Sochann, chief finance officer of Hong Seng Long Trading, which imports and distributes drinks from Thailand to Cambodia, said locals favoured Thai products, especially food and drinks. That has led the company to import Thai drinks for distribution in Cambodia.
A number of Thai investors are now expanding to Cambodia, including CP Group, Betagro Group, Siam Cement Group, PTT Plc, the Bangkok Hospital chain, the TCC Group of beverage tycoon Charoen Sirivadhanabhakdi, Thai Nakorn Pattana Group and Nawarat Pattanakarn.