PHNOM PENH: Last week, the Association of Innovation and Development Investors (IDI), led by Dr. Hor Sereyvath, Chairman of the Board of Directors, met with the Entrepreneurship Development Fund (EDF), Business Development Center (BDC), Cambodia Logistics Association (CLA), Cambodia Food Manufacture Association (CFMA), and key agriculture businesses and exporters to request a Special Service Incentive for Agriculture Export from the Ministry of Economy and Finance (MoEF).

The meeting aimed to unlock the opportunities from existing Free Trade Agreements (FTAs). It was organized by the Secretary of the “One Stop Shop” Working Group of MoEF, facilitated by EDF, and held at the Office of MoEF. His Excellency Pich Sambath, Under Secretary of State of MoEF, and senior officials from the Office of Taxes, customs, and Excise attended the meeting.

After receiving a green signal from the government, IDI led a study mission to Battambang, Pailin, and Banteay Meanchey provinces on October 21-22, 2023. The mission aimed to identify plans to promote investment in agriculture and agricultural processing into products to supply domestic and foreign markets.

The activities included:

• Meeting with the Governor of Battambang to present the position and action plan
• Studying logan cultivation techniques, related costs, and other consequences in some big plantations
• Learning about the agricultural market
• Visiting agricultural production and processing factories

As a result of the study mission, IDI achieved two investment targets:

• Establishment of an agricultural procurement process to maintain market sustainability and supply
• Study to establish a factory to produce fruit juice and fruit jam with a capital of about 500,000 USD in the first step

IDI's efforts are commendable in promoting investment in agriculture and agricultural processing in Cambodia. This will help the country to unlock the opportunities from existing FTAs and boost its exports.