Thai-Cambodian goal to double trade and investment

BANGKOK, Nov 21 (TNA) - Thailand and Cambodia have set a common target to increase their level of bilateral trade and investment to US$2 billion within three years, from US$1 billion at present, according to top officials of both countries.

Speaking after a meeting on investment cooperation between the two countries, Chutima Bunyapraphasara, Director-General of Thailand's Trade Negotiations Department, said both countries agreed to cooperate in doubling their bilateral trade and investment value in the next three years.

Currently, she said, Cambodia enjoys political stability, continued economic growth, and an appropriate currency exchange rate.

The Cambodian delegation comprising top officials and executives in both the public and private sectors visited Bangkok, giving Thai investors information on investment, including establishment of a special economic zone.

Chutima conceded that Thai investors had been reluctant to invest in Cambodia (in part, because of the legacy of anti-Thai riots in Cambodia in early 2003, when some US$50 million of damage was done). But given recent cooperation, she believed, Thailand's investment in the Cambodian economy, particularly in the textile, tourism and fishery industries, investment will continue to increase.

Cambodian Commerce Minister Cham Prasidh said Cambodia had recently enjoyed more political stability than in the past several years and continued economic growth is anticipated.

In 2005, the country's economy expanded at least 13.4 per cent. It is expected the economy this year would grow no less than 5 per cent despite the global economic slowdown.

He said Cambodia had in recent years enjoyed economic growth based on international investment from the country's political stability and impoved adherence to international rules and procedures.

The minister said Cambodia had encouraged foreign investors to invest in the country by offering tax incentives such as an exemption of import tariffs.

Such an approach had attracted investors from around the world.

But, Thailand, which is its neighbour, had a very low portion of investment in Cambodia while South Korea and Japan are top investors. So, he viewed, Thailand had more opportunities to invest in Cambodia.

TNA

Thais urged to invest in Cambodian industrial zones

BANGKOK, Nov 22 (TNA) – Phnom Penh wants Thai investors to invest in its labour-intensive industries in a special economic zone near their common border, visiting Cambodian Minister of Commerce Cham Prasidh said Tuesday.

Such industries include production of household utensils, agriculture and agro-industry.

He said investment in a special economic zone are more profitable and have more incentives than outside the special zone, in part because the central government provides incentive services there.

Like Thailand's one-stop shop for foreign investors, Thai investment in Cambodia is more easily facilitated for licenses to run business by state agencies set up in the special economic zones.

Should they decide to invest outside, they must apply for licenses with ministries concerned by themselves.

Companies wishing to invest outside the zones may do so, but they may apply for licences directly with ministries concerned, and do the paperwork for themselves.

In the special zones, investors need not have their own power generators because those operating the industrial parks will provide power supplies, waste water treatment, the fastest communication systems.

At present, there are nine special economic zones in Cambodia, while another two zones are in process of being established.

Mr. Cham suggested Thai people opt to invest in a special economic zone located along the Thai-Cambodian border.

TNA

Thats impressive from the point of view of cambodia.
The concept of double trade is really good one as well as the investment.
I am pleased to work for double profits that will be more interesting one.