H.E. HEM Vanndy, Minister of Industry, Science, Technology & Innovation, received a delegation from the Asia Pacific Association of Small and Medium Enterprises (APASME) on January 13, 2025, to discuss potential collaboration and investment opportunities in Cambodia.
The delegation, comprising representatives from Canadian and Chinese business communities, explored opportunities in various sectors, including agriculture, water supply, food-processing, and industrial development with a particular focus on bringing technological solutions and machinery.
Minister Vanndy outlined Cambodia’s development strategy, emphasizing efforts in diversifying industries and strengthening competitiveness to integrate into global supply chains through adherence to environmental, social, and governance (ESG) standards and local content requirements.
He said Cambodia is an imperfect emerging market with room to improve such as in skill development, logistics and energy costs, but he reassured the delegation of the government’s commitment to fostering a supportive environment for investors.
Mr. Lang Wangkai, a representative of a Chinese technology company, shared insights into China’s approach to becoming a leader in technology and innovation, emphasizing a three-step process: learning, localization, and development of technology products. He noted that Cambodia’s strategy aligns well with China’s expertise in artificial intelligence, material science, and advanced technologies.
Minister Vanndy encouraged the delegation to bring their technological solutions, knowledge and experience to Cambodia as a foundation for further investment, citing that the Royal Government can develop tailored special economic zones (SEZs) for specific priority sectors.
He also suggested that APASME establish a ground presence in Cambodia and can start by doing research and development on climate-resilient high-yield crop varieties and investing in value-added production such as premium spices, packaged products or fine rice liquor, building on Cambodia’s reputation for winning the World Best Rice.
By: ក្រសួងឧស្សាហកម្ម វិទ្យាសាស្ត្រ បច្ចេកវិទ្យា និងនវានុវត្តន៍
