Phnom Penh: H.E. HEM Vanndy, Minister of Industry, Science, Technology and Innovation, received a delegation from the Asia Pacific Association of Small and Medium Enterprises (APASME) to discuss potential collaboration and investment opportunities in Cambodia.
According to Agence Kampuchea Presse, the delegation included representatives from the Canadian and Chinese business communities and explored opportunities in sectors such as agriculture, water supply, food-processing, and industrial development. Their focus was on bringing technological solutions and machinery to Cambodia.
H.E. HEM Vanndy discussed Cambodia’s development strategy, highlighting efforts to diversify industries and strengthen competitiveness to integrate into global supply chains. This involves adhering to environmental, social, and governance (ESG) standards and local content requirements.
He acknowledged that Cambodia is an emerging market with areas for improvement, such as skill development, logistics, and energy costs. However, he assured the delegation of the government’s commitment to creating a supportive environment for investors.
Mr. Lang Wangkai, representing a Chinese technology company, shared insights into China’s strategy for becoming a leader in technology and innovation. He highlighted a three-step process: learning, localisation, and development of technology products. He noted that Cambodia’s strategy aligns with China’s expertise in artificial intelligence, material science, and advanced technologies.
H.E. Minister encouraged the delegation to bring their technological solutions and expertise to Cambodia, proposing the development of tailored special economic zones (SEZs) for specific priority sectors.
He also suggested that APASME establish a presence in Cambodia, beginning with research and development on climate-resilient high-yield crop varieties and investing in value-added production. This could include premium spices, packaged products, or fine rice liquor, building on Cambodia’s reputation for winning the World Best Rice.