There has been an increased business and strategic partnerships in the Southeast Asian nations in recent years. Forwarding this norm, ten Taiwan firms are reportedly keen on investing in the Kampong Speu province of Cambodia. The total amount of investment may go as high as 2 billion USD. As per Vei Samnang, the provincial governor, the maximum amount of investment will go to the most needed agriculture and agro-industry sectors.
As Cambodia has much of its economic importance on agriculture, the Taiwanese companies are more interested in growing paddy, rubber, and coconut. Recently, the road connectivity between Phnom Penh and Preah Sihanouk province has been improved. This might have been the reason for the recent growth in interest for investments by many companies.
On Sunday, I met with 10 Taiwanese investors. They said they wanted to invest in Kampong Speu province. Investment from foreign investors not only creates new employment opportunities for the people but also brings new technology to Cambodia.
He also added that the ten companies that have shown interest in investment include the big names of Taiwan like China Hainan Natural Rubber Industry Group Co Ltd, Hainan State Farms Holding Group Co Ltd, and Hainan Ruixiang Tropical Economic Investment Group Co Ltd.
As per Lim Heng, the Vice-President of Cambodia Chamber of Commerce, the Kampong Speu province, as well as the whole of Cambodia, may see many such large-scale investments with the completion of National Road 4. It should be noted that National Road 4 is one of the most important parts of the Cambodia Industrial Development Policy 2015-2025.
The ambitious National Road 4 project goes through Kampong Speu province’s Samrong Tong and Phnom Sruoch districts, and Chbar Mon town. It also links Kandal province’s Ang Snuol district in the east with the Preah Sihanouk province’s Kampong Seila district in the west.
Cambodia is likely to partner with China and there are chances of an FTA (Free Trade Agreement) being signed between these two nations. In that case, Kampong Speu province may see many more new investors with foreign capital that may ultimately lead to the province’s better economic health.