07 August 2013
PHNOM PENH: Malaysian companies have been urged to venture into Cambodia's agriculture sector especially in paddy planting and opening up rubber estates.In making the call, Raja Saiful Ridzuan, Deputy Chief of Mission at the Malaysian Embassy here, said Malaysian firms, with its vast expertise in agriculture sector, could come in to tap the opportunities available in this Indo-Chinese nation.
"Cambodia is a booming economy and it offers abundant opportunities for development particularly in the agriculture sector.
"They have plenty of land and manpower but not so much technological know-how and expertise that are crucial to develop and modernise the sector further.
"Only one Malaysian company is involved in the agricultural field in Cambodia, while Padiberas Nasional Bhd (Bernas) is currently conducting a feasibility study in this country," he told Bernama, here.
Cambodia is the world's fifth largest rice exporter.
Raja Saiful said other sectors that Malaysian companies could consider venturing into were construction and urban development.
He said the embassy was prepared to provide information and assistance on local regulations to any Malaysian firm keen to set up businesses in Cambodia.
"The business fraternity in Cambodia is a very close-knit one. The Malaysia Business Council in Cambodia is also ready to offer advice and services on the setting up of business ventures here," he said.
Currently, there are about 95 Malaysian companies operating in Cambodia, the majority of them are in banking, tourism and trading.
Trade volume between both countries hit RM1.6 billion last year, a three-fold increase over the 2010 figures.
Malaysia's main exports to Cambodia are electrical and mechanical parts and components as well as industrial raw materials while Cambodia's exports to Malaysia are mainly rice and rubber. -- BERNAMA