Biz delegation from Kingdom to visit Indonesia

The business delegation from Cambodia to Indonesia with officials of the Indonesian Embassy at a pre-visit reception in Phnom Penh. KT/Tep Sony

A high-level business delegation from Cambodia will visit Jakarta, Indonesia October 21-24 to raise awareness about the business and investment potential and opportunities in the Kingdom.

The visit, jointly organised by Aquarii BD Cambodia and the Indonesian Chamber of Commerce in Cambodia (IndoCham), will culminate with an in-country seminar on ‘Cambodia – An Overlooked Destination for Investment and Business’ in Jakarta on October 24.

“Delegation members will use the opportunity to network with Indonesian businesses and investors through various networking sessions to establish connections and contacts with them, besides showcasing their products and services, and introducing their businesses,” Michael Tan of Aquarii told Khmer Times yesterday.

“As of today (Thursday), we have 33 delegation members from 19 businesses or organizations, representing various industries and sectors such as banking & finance, agriculture, services, real estate development, manufacturing, warehousing, SEZ, distribution & logistics, F&B, advisory/consultancy and investment,” he said.

Sudirman Haseng, Ambassador of the Republic of Indonesia to Cambodia, will attend the seminar in Jakarta. Top officials of the Indonesian government, including ministers, are also expected to attend the event.

On the sidelines of a pre-visit reception for the delegation at Dakshin’s Restaurant in Phnom Penh on Wednesday, IndoCham President Dalton Wong told Khmer Times that the idea behind the visit was to increase the visibility of Cambodia. “Basically, we will meet some of the leading business people in Indonesia and tell them about the conducive investment climate in Cambodia and also about the features of the country’s new Investment Law,” he said.

“In fact, it will be an opportunity for both parties to get to know each other better. It is a two-way process,” he said.

There will be opportunities for the delegation to have industrial/business site visits as well on October 22 and 23. The topics of the seminar on October 24 include ‘Overview of Cambodia’s business, Investment Climate, Benefits and Incentives,’ ‘Opportunities for Investment and Partnership’ and ‘Infrastructure, Manufacturing, SEZ and Warehousing’ ‘Opportunities in Agriculture Sector’ and ‘Real Estate Development and Projects.’

A return visit by an Indonesian business delegation is also expected in the near future though the date is yet to be finalized.

The visit and the seminar are supported by Khmer Enterprise, as well as the Indonesian Chamber of Commerce and Industry (KADIN Indonesia) and the Embassy of the Republic of Indonesia in Phnom Penh, Cambodia.

Indonesia and Cambodia, belonging to the 10-member Asean, have over the years improved their trade and economic relations to a great extent. According to reports, in the last five years (2017-2021), the trade between Indonesia and Cambodia increased by 1.90 percent. While Indonesian exports to Cambodia grew 0.96 percent, imports from Cambodia to Indonesia increased by 15.80 percent.

During January-June 2022, Indonesian exports to Cambodia reached $367.54 million, an increase of 26.55 percent year-on-year, and imports constituted $23.15 million, a decrease of 1.97 percent year-on-year.

Indonesia mainly exports coal, tobacco, machinery, pharmacy, consumer goods and paper to Cambodia and imports garments, shoes, rubber and rice.

Source: Khmer Times