PHNOM PENH: On September 6, 2024 His Excellency Rath Saravuth, Secretary of State of the Ministry of Commerce, met with representatives of Investissement Québec International (IQI) at their headquarters in Montreal .
During the meeting, at IQI’s request, Secretary of State Saravuth provided a comprehensive overview of Cambodia’s investment climate. He highlighted the country’s supportive policies, laws, and procedures, particularly for Quebec investors in the financial, green energy, and logistics sectors.
IQI expressed its interest in organizing investment missions to several Asia Pacific countries, including Cambodia, in the coming months.
Following the meeting, Secretary of State Saravuth met separately with Mr. Michael Goodman, Founding Partner of Glen Ventures, and Mr. Francis Baillet, Vice President of Corporate Affairs at Ubisoft. They discussed potential areas of collaboration, focusing on digital medicine and digital startups.
In 2022 alone, the volume of foreign direct investment (FDI) from Canada reached $2.06 billion in Cambodia. Canada provides tariff-free quotas to Cambodia on items such as clothing, footwear, and textiles, the Kingdom’s main export items.
Meanwhile, in the first four months of this year, trade between Cambodia and Canada reached $311 million, an increase of 23.8 percent compared to the same period last year.