Cambodian, Malaysian entrepreneurs meet to explore business opportunities

Cambodian and Malaysian business executives gathered at a forum here on Friday to seek possibilities to broaden trade and investment ties between the two countries. The meeting provides a good chance for businessmen of the two countries to exchange views on the current business climate and explore business opportunities, said Cambodian Permanent Deputy Prime Minister Keat Chhon, who co-chaired the forum with visiting Malaysian Deputy Prime Minister Tan Sri Muhyiddin Yassin. "The Cambodian government is committed to ensuring a stable and favorable investment climate for all investors, particularly Malaysian investors," he said. All state institutions across the country have been proceeding normally and foreign direct investment has continued flowing into Cambodia though the opposition party boycotted parliament after the country's election in July last year, he said. "Investors have confidence in Cambodia's political stability and sound macroeconomic stability," he added. Muhyiddin said Malaysian companies that have registered 1,693 businesses in Cambodia are among the leading investors in the country, setting up businesses mainly in finance and service sectors. According to him, Malaysian investments in Cambodia amounted to 2.62 billion U.S. dollars from 1994 to 2013. "Our bilateral trade continues to expand despite the challenges posed by the uncertain global economic landscape," he said, adding that Malaysia's trade with Cambodia increased by 14 percent year- on-year to 429 million U.S. dollars in 2013. Muhyiddin, also education minister, arrived here on Wednesday for a three-day visit to further enhance Malaysia-Cambodia relations. On Thursday, he paid a courtesy call on Cambodian Prime Minister Hun Sen. Muhyiddin and Cambodian Education Minister Hang Chuon Naron have signed a memorandum of understanding on higher education between the two countries.