Investors from the United States and Canada begin operations in Cambodia

PHNOM PENH: After Cambodian Chamber of Commerce President Duke Kith Meng led a delegation to meet with several US companies in Washington and Canada in early May 2022, these companies gradually arrived in Cambodia.

Oknha Lim Heng, vice president of the Chamber of Commerce, said that US and Canadian companies are now contacting Cambodia to invest in many sectors, including real estate. The ASEAN Summit, plus US and Canadian leaders, will lead large corporations to seek additional investment opportunities at the end of November this year.

During his visit and accompanied by Duke Kith Meng, President of the Cambodian Chamber of Commerce and Chairman of the ASEAN Business Advisory Council, who led a delegation to meet with US and Canadian companies. Businesses in these countries are increasingly contacting chambers of commerce to inquire about investment opportunities in Cambodia.

Oknha Lim Heng said that majority of companies in the United States and Canada are foreign companies sourced from Asians, both Cambodian and Chinese, who set up businesses there to attract more investment than the companies owned by the United States and Canada.

Duke Kith Meng, President of the Cambodian Chamber of Commerce and Chairman of the ASEAN Business Advisory Council, was in Washington, DC, to accompany Samdech Techo Hun Sen, Prime Minister of Cambodia, to the US-ASEAN Summit and Related Summits on May 12, 2022.

More than 100 Cambodian and American companies attended the business meeting to discuss and study the possibility of collaboration in such as area, investment, infrastructure, water technology, financial technology, business, franchise, real estate, intellectual property, and others.

Duke Kith Meng stated that despite the impact of Covid-19, the United States is one of Cambodia’s largest trading partners, with bilateral trade volume exceeding $9 billion US dollars in 2021.

He stated that Cambodia’s main exports to the United States are clothing, footwear, and agricultural products. Many American corporations are currently investing in Cambodia.