Phnom penh: Minister of Industry, Science, Technology and Innovation H.E. Hem Vanndy met here on June 28 with a Malaysian business delegation led by Dato’ Sri Dr. Ricky Yaw, President of the Malaysia-Cambodia Business Association (MCBA). The meeting focused on exploring investment opportunities and strengthening business partnerships between the two countries.

According to Agence Kampuchea Presse, the Ministry of Industry, Science, Technology and Innovation (MISTI) highlighted the goals of encouraging Malaysian investors to invest in Cambodia and facilitating Cambodian enterprises in exploring opportunities in Malaysia. Dr. Yaw expressed hope for continued support from MISTI to address startup and business challenges.

Minister Vanndy welcomed the delegation’s interest and reaffirmed Cambodia’s commitment to providing a stable, conducive, and investor-friendly environment. He assured the delegation that MISTI is prepared to assist with factory licensing, factory planning, and industrial safety standards, noting the absence of restrictions on automation and robotics in factories.

He emphasized Cambodia’s open investment regime, incentive schemes, expanding skilled labor force, and government-backed initiatives like the Skill Development Fund and co-financing schemes with companies such as Toyota. The Minister encouraged Malaysian investors to explore sectors beyond traditional garment manufacturing, such as food processing, technology, medical devices, and value-added manufacturing, including the furniture industry.

Minister Vanndy highlighted the potential for the furniture industry, particularly through partnerships with local businesses to develop timber resources sustainably. He invited the delegation to explore opportunities within Cambodia’s Special Economic Zones (SEZs) or consider establishing a dedicated Malaysian SEZ. He also recommended engaging with Khmer Enterprise to connect with local startups involved in food processing, technology, and innovation.

Reassuring the investors, Minister Vanndy emphasized Cambodia’s growth prospects and commitment to economic development, encouraging them to have faith in the future and growth potential for their businesses in Cambodia. He advised investors to work through official government channels and avoid reliance on informal intermediaries.