Representatives from 53 Malaysian companies ended a tour of Southeast Asia with a three-day visit to Cambodia, where they were impressed with the country’s openness to new businesses.
“[The delegation] found investment potential very favorable compared to the rest of the Southeast Asian countries in terms of infrastructure and government bureaucracy,” said Chris Ho of the Malaysian Business Association.
Malaysian companies have invested an estimated $1.1 billion in Cambodia in a number of industries, with construction the most popular.
, according to Teh Sing, chief operating officer of Cambrew and president of the Malaysian Business Council, an organization of 42 Malaysian businesses.
The government’s pro-economy policies and incentives such as tax exemptions continue to attract Malaysian businesses and the delegation’s visit allowed potential investors to talk with already established business people, a Malaysian embassy official said.
“The delegation learned a lot,” the official said.
The delegation was an extension of Matrade, a government agency created in 1993 to help promote trade and investment between Malaysia and other countries.
The highlight of the delegation’s Cambodian visit was a business seminar Monday chaired by Secretary of Commerce Sok Siphana.