Malaysia will push forward with plans to invest further in Cambodia’s leading business sectors including ICT and finance.
Following a memorandum of understanding (MOU) on engagements to boost bilateral trade between Malaysia and Cambodia last August, the two nations are planning to build on previous successes with further investment telecommunications, banking and finance, logistics and information communication technology (ICT).
In a discussion on trading opportunities with the Khmer Times, the Malaysian External Trade Development Corporation (MATRADE) trade commission for Cambodia, Vietnam and Laos, Faizal Izany Mastor, said the country had always been encouraged to collaborate strategically with Cambodia.
Malaysia’s total investments in Cambodia across multiple sectors including property, power, transmission, construction, and infrastructure between 1994 and 2016 had been valued at $3.37 billion, with nearly 150 registered projects.
“Malaysian enterprises have built their strength and capabilities in many areas, and they are very keen to transfer this technology for the mutual benefit of both Cambodia and Malaysia,” Faizal said.
“It is hoped that Malaysia would bring in more investments into Cambodia that are high value and quality, and technologically advanced.”
All major Malaysian banks have branches in Cambodia including, Maybank, CIMB, and Hong Leong Bank, which Faizal said was testament to investors’ hopes to continue growth in Cambodia.
“The presence of these banks reflects Cambodia’s liberal financial sector. Also it is an indication of a vibrant and robust economy,” he said.
“Among the sectors that Malaysian investors are interested to develop further are…transport and logistics, energy and utilities, and ICT.
“The outlook for bilateral trade and investment between Cambodia and Malaysia is very promising.”